U.S. equity futures saw a brief technical disruption after CME Group halted trading in Dow, S&P 500 and Nasdaq contracts, though the pause followed an earlier, modestly positive tone. Within cash markets, AI remains the key driver: reports that Meta is in talks to spend billions on Google’s TPUs for its data centers highlight a potential shift in the AI chip supply chain away from sole reliance on Nvidia and AMD, after sharp moves in those names earlier in the week. AI-linked stocks such as AppLovin helped the Nasdaq Composite finish roughly 0.8% higher in the prior session, and investors are now focused on upcoming U.S. data and further AI headlines amid otherwise steady major indices.

In Europe, German inflation surprised slightly to the upside, with preliminary CPI at 2.6% YoY in November. Labour-market data were mixed—headline unemployment fell in unadjusted terms, while the seasonally adjusted rate ticked higher—supporting a picture of a broadly stable but not booming economy. European equities are marginally lower on the day but still on course for a fifth straight month of gains, supported by expectations of Fed rate cuts and tentative progress in Russia–Ukraine ceasefire talks. The DAX is described as range-bound and slightly negative for November overall, though Deutsche Börse is outperforming after entering exclusive talks to acquire Allfunds in a €5.3 billion cash-and-stock deal.

Across Asia, stocks ended November slightly firmer, with Japan’s Nikkei posting a weekly gain as traders price in a high probability of a near-term Fed rate cut. The Nikkei 225 closed about 0.2% higher today, extending its weekly rise, as markets look ahead to upcoming central-bank meetings, including the Bank of Japan, and U.S. policy decisions. Volatility has eased notably: the Nikkei volatility index dropped more than 10%, even as stock-specific movers such as Pacific Metals hit multi-year highs.