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Copper prices were lower as uncertainties about the Fed’s interest rate path persisted, with some top officials trying to temper speculation and adopt a more cautious tone. Meanwhile, aluminum and gold made modest gains, with bullion having staged a strong rally this month.

Oil prices rose, supported by escalating tensions in the Middle East due to recent attacks on ships crossing the Red Sea. Shipping and logistics majors A.P. Moller-Maersk and Hapag-Lloyd stopped their ships from entering the southern entrance of the Red Sea after recent attacks on commercial ships by Houthi forces. Meanwhile, Russia said it would…

Commerzbank Research said the bond rally appears mature but the German Ifo business sentiment index and U.S. PCE data still look supportive. “The market is taking more comfort from the disappointing euro area PMIs in its view of ongoing disinflation and full-blown Fed and ECB rate cut cycles next year.”

The dollar could continue to weaken into year-end after the Fed signaled last week that it was starting to consider cutting interest rates next year, although this period of weakness won’t last long, MUFG said. With the ECB and the Bank of England remaining reluctant to talk about cutting rates, there is a “window for…

Stock futures rose on Monday but gains were limited by comments from Federal Reserve officials that tempered enthusiasm over just how soon interest rates might be lowered. “The surge in risk appetite, fueled by the Fed’s recent stance, has paused as [S&P 500] bulls are likely catching their breath at the open,” SPI Asset Management…

Illumina to Shed Cancer-Test Maker Grail After Antitrust Battle The gene-sequencing company said its goal was to complete the divestiture by the middle of 2024. Mitsubishi UFJ Agrees to Buy Australia’s Link Administration Mitsubishi UFJ Financial Group agreed to buy Link Administration in a deal valuing the Australian financial technology company’s equity at $800 million.…