APAC stocks traded mostly higher yesterday, driven by a tech-led rally on Wall Street. Sentiment was boosted by dovish comments from Federal Reserve officials, which increased bets on a rate cut in December. However, NVIDIA (NVDA) fell after hours due to reports that Meta (META) is in talks to spend billions on Google’s (GOOGL) AI chips.

In other news, US President Trump announced on Twitter that he had a “very good” telephone call with Chinese President Xi, discussing various topics including Ukraine/Russia, fentanyl, soybeans, and other farm products. The US Q3 GDP initial estimate is scheduled to be released on December 23rd, while the US Personal Income and PCE report for September has been rescheduled for December 5th, according to the Bureau of Economic Analysis (BEA).

ECB’s Nagel expressed confidence in the current Euro exchange rate at 1.1600, stating that it is not a cause for concern. Looking ahead, key economic releases include German GDP (Q3), US Weekly Prelim Estimate ADP, US PPI (Sep), Retail Sales (Sep), Consumer Confidence (Nov), Richmond Fed (Nov), and earnings from Dell.

The APAC markets are currently trading higher on the back of a strong tech rally, while NVIDIA’s stock has taken a hit due to the AI chips deal between Meta and Google. The US economy is set to release important data in the coming weeks, including the GDP estimate and personal income report, which could impact market sentiment. As always, it’s essential to keep an eye on these developments and stay informed about the latest economic trends and events.