YONHAP reports Lee Jae-myung reportedly discussed with the SK Group chairman three South Korea mega-projects centered on semiconductors and AI, including SK Hynix investment in the country’s southwest region.

Federal Reserve minutes said participants judged labor-market conditions broadly stable and labor supply and demand roughly balanced, with unemployment steady over the past year and near most participants' estimates of its longer-run level. Some participants said uncertainty around AI development and current and expected productivity gains have kept both hiring and layoffs low; in industries building AI, demand for tech workers is strong and has driven sharp wage gains for those roles. Other participants flagged lingering slack, citing low employment rates and elevated long-term unemployment. Several described nominal wage growth as moderate and consistent with inflation moving toward 2%, though some warned of upside risk to future wage growth.

Cotton futures rose to a two-year high on concerns about U.S. crop conditions.