In Asian Equity Markets Japan’s Nikkei index fell on Monday morning in choppy trade after a slightly stronger yen sapped investors’ risk appetite, sending stocks such as chip-related firms lower. The Nikkei fell 0.3 percent to 22,474.98 by the midday break, after opening 0.5 percent higher. The broader Topix shed 0.1 percent to 1,778.94. MSCI’s broadest index of Asia-Pacific stocks outside Japan rose early in the session on Friday’s Wall Street gains but was last down 0.65 percent. Shanghai stocks were down 0.7 percent, reaching a three-month low. South Korea’s KOSPI fell 1.3 percent as tech stocks fell following an analyst’s report suggesting the memory chip “super cycle” would soon fade, led lower by Samsung Electronics.

In Currency Markets the euro hit a two-month high versus the dollar and held firm against other major currencies on Monday thanks to strong German business confidence and reduced anxiety about political instability in Europe’s biggest economy. The euro fetched $1.1929, little changed from late U.S. levels last week after having hit a high of $1.1946, its highest level in two months. Sterling fetched $1.3325, holding near Friday’s two-month peak of $1.3360. Against the yen, the dollar fell 0.15 percent to 111.35 yen. The Aussie dollar shed 0.25 percent against the U.S. dollar to $0.7600. Elsewhere, the South African rand bounced back 0.6 percent to 14.070 to the dollar, after a 2.0 percent fall on Friday.

In Commodities Markets U.S. oil prices fell on Monday, easing from two-year highs on the prospect of increased U.S. output, although global markets were slightly better supported by expectations an OPEC-led supply cut will be extended. U.S. West Texas Intermediate crude futures were at $58.68 a barrel, down 0.5 percent, from their last settlement. Brent crude futures fell just 4 cents to $63.82 a barrel.  Spot gold had risen 0.2 percent to $1,290 an ounce. U.S. gold futures for December delivery were up 0.2 percent at $1,289.90. Among other precious metals, silver rose 0.4 percent to $17.05 an ounce, while platinum shed 0.2 percent to $938.05 an ounce. Palladium was down 0.2 percent at $995.70 an ounce.

In US Equity Markets   technology stocks led the S&P 500 and Nasdaq to record closing highs on Friday, with the S&P ending above 2,600 points for the first time, while Amazon and retail stocks got a boost from signs of a strong start to the holiday shopping season. The Dow rose 0.14 percent, to 23,557.99, while the S&P500 gained 0.21 percent, to 2,602.42. The Nasdaq added 0.32 percent, to 6,889.16. The S&P retail index rose 0.75 percent and hit a record intraday high, led by Amazon’s 2.6 percent gain. Macy’s closed up 2.1 percent. The department store operator’s chief executive told CNBC the company was better off this year than last and was seeing very robust online demand.

In Bond Markets U.S. Treasury yields rose on Friday but stayed within the tight range they have held for the past week-and-a-half as investors focused on the inflation outlook. Concern about stubbornly low inflation has boosted longer-dated debt and sent the U.S. Treasury yield curve to its flattest levels in a decade. Benchmark 10-year notes fell 6/32 in price to yield 2.34 percent, up from 2.32 percent on Wednesday. The yields have held between 2.32 percent and 2.38 percent since Nov. 15.