DWS: The Federal Reserve is expected to cut interest rates twice by May next year.

(1) Although South Korea stated that its participation in the Alaska natural gas project depends on the project’s commercial viability, a move that prompted U.S. President Trump to threaten trade retaliation, U.S. Vice President Vance said the project will proceed. (2) On Monday, Vance said: “I believe this will definitely be achieved. Of course, some details still need to be finalized, and the South Korean side has already communicated regarding this.” (3) He added: “As long as there is market demand for these resources, and there is indeed strong demand for U.S. natural gas, I believe we will be able to complete this project.”

According to Jinse Finance, Singapore-based data center operator DayOne Data Centers submitted an F-1 registration statement to the U.S. Securities and Exchange Commission (SEC) on Monday, aiming for an initial public offering (IPO) of American Depositary Shares (ADS) on the Nasdaq Stock Market, with the ticker symbol “DODC.” DayOne plans to use the IPO proceeds to develop and construct new data center projects, as well as for working capital and other general corporate purposes. While DayOne has not disclosed the size of the offering, previous reports indicated the company plans to raise up to 5 billions USD, with a potential valuation reaching 20 billions USD.

Spot gold has just surpassed the $4,130.00 per ounce mark, last quoted at $4,129.95 per ounce, down 0.25% for the day; COMEX gold futures main contract last quoted at $4,157.20 per ounce, up 0.01% for the day.

According to the latest data from market intelligence firm Kpler, as of Saturday, the average daily crude oil traffic through the Strait of Hormuz over the past seven days was 10.3 million barrels, which is only 76% of the pre-war baseline level.