The Federal Reserve meeting on Wednesday is crucial for U.S. and global markets. Expectations for a December rate cut have boosted equities but hurt the dollar, which dipped further on Monday. Traders are hopeful for a 25 basis-point cut to support the S&P 500 and ease AI concerns.

In other news, China’s exports exceeded expectations in November, driven by non-U.S. markets. IndiGo’s flight cancellations caused chaos in India. U.S. lawmakers proposed a record $901 billion defense bill. China’s commodity imports varied, affecting global demand. The G7’s plan to ban Russian oil tankers escalates tensions.

The Fed’s looming decision dominates market discussions, with hopes for a rate cut. The dollar’s recent losses signal market expectations for a cut, making a pause surprising. Besides the Fed, central banks in Canada, Switzerland, and Australia are also meeting. Germany’s bond yields surged, while Japan and the U.S. saw increases.

Amidst economic developments, geopolitical attention remains on Ukraine peace talks. President Zelenskiy meets with European leaders in London. Market bets on a Fed rate cut have boosted the S&P 500 and weakened the U.S. dollar. Today, watch U.S. earnings reports and note auctions. Subscribe to the Morning Bid newsletter for daily updates.

Read more at Yahoo Finance: Morning Bid: The final Fed countdown