Global Tensions, Trade Talks, and Economic Outlook Drive Markets

Geopolitical Dialogue and Global Stability - US President Trump and Chinese President Xi Jinping engaged in a significant phone call, discussing the stability of China-US ties and the importance of safeguarding World War II outcomes [2] - The leaders addressed the Ukraine crisis, with Xi urging for reduced differences and expanded cooperation, while reiterating China's stance on Taiwan as a crucial part of the post-war international order [2][9] Economic Policy, Outlook, and Trade Relations - The Bank of England conducted an Asset Purchase Facility gilt sale, offloading £750 million with a cover-ratio of 2.75 [4][9] - Goldman Sachs economists foresee downside risks for the economy next year, predicting Federal Reserve rate cuts in December and further cuts in 2025, bringing rates just above 3% [5][9] - US officials met with EU counterparts to discuss trade issues, including steel and aluminum tariffs, with a focus on establishing a balanced digital framework and addressing overcapacity in steel [6][9] Market Performance and Corporate Developments - US stock markets showed positive momentum, with the S&P 500 advancing 1.00%, the Nasdaq gaining 0.95%, and the Dow Jones up 0.14% after market open [7][9] - Tesla's regulator in the Netherlands denied commitment to approving Full Self-Driving, contradicting earlier reports as Tesla aims for FSD approval in Europe [8][9]