Global semiconductor stocks rose on Thursday after reports suggested that new U.S. restrictions on China’s chip industry might be less severe than previously expected. ASML saw its shares increase by 4% during European trading, while Tokyo Electron surged over 6% in Japan. The U.S. is considering additional limits on the sale of semiconductor equipment and AI-focused chips to China, but these restrictions appear softer than earlier proposals, easing concerns in the industry.
OPEC+ has postponed its upcoming meeting, initially planned for this weekend, to December 5. The group was set to discuss an output increase of 180,000 barrels per day starting in January. However, there are ongoing talks to delay this production hike due to concerns about oversupply. Meanwhile, oil prices dipped after data showed U.S. crude stockpiles decreased, but gasoline inventories rose, signaling potential weaker demand. A recent ceasefire between Israel and Lebanon also contributed to reduced risk premiums in oil markets.
Microsoft shares dropped in after-hours trading as the Federal Trade Commission announced a new antitrust investigation into the company. The probe will examine whether Microsoft uses restrictive licensing practices in its Azure cloud platform, potentially hindering customers from moving to competitors. The investigation, initiated by FTC Chair Lina Khan, comes ahead of her expected departure in January. The outcome remains uncertain, especially as changes in U.S. political leadership could shift regulatory approaches.
Bitcoin edged closer to the $100,000 mark, trading at around $96,000. Optimism in the crypto market has been fueled by reports that the new U.S. administration may shift regulatory oversight of cryptocurrencies to the Commodity Futures Trading Commission, which is seen as more lenient than the Securities and Exchange Commission. However, analysts warn that plans for a government Bitcoin reserve face significant budgetary challenges.
As Black Friday kicks off the holiday shopping season, all eyes are on consumer spending. This period is expected to provide insight into how Americans are managing higher prices. While inflation has eased from its peak, elevated costs still pose challenges for shoppers. Strong sales during this time could signal resilience in the economy but may also reignite concerns about inflation, potentially influencing the Federal Reserve’s interest rate decisions in the months ahead.
