CME Futures Trading Stops, Pausing the Stock Rally – Asia Market Wrap

Stocks fell on the last trading day of the month, despite rising bets on a Fed interest rate cut, keeping a global equity index on track for its best week since June. The CME experienced a problem that hampered trading.

Trading in futures and options on the CME was halted owing to technical concerns. The issue affected, among other things, trade in US Treasuries futures and S&P 500 Index contracts. Traders reported that forex trading on the EBS platform was disrupted due to the CME halt.

Meanwhile, the MSCI All Country World Index stayed virtually flat as stocks struggled for direction after the US Thanksgiving holiday. Nonetheless, the gauge completed the week up 3.1%. Asian equities were stable, heading for their first monthly decline since March.

Gold is on course for a fourth monthly rise, with increased anticipation of another rate decrease in the US. Rate decreases often increase the price of the metal, which is a non-yielding asset. Bullion has gained nearly every month this year and is on course for its best year since 1979.

Brent crude oil was steady above $63 per barrel, on track for its fourth monthly decrease in November, the longest sequence since May 2023. The OPEC+ nations gather on Sunday and are anticipated to maintain to their commitment to pause output rises in early 2026.