On Friday, Asian stock markets exhibited a patchwork of performance as investors eagerly anticipated the release of U.S. personal spending figures for November, scheduled for later in the day. Meanwhile, U.S. futures and oil prices experienced a decline. In Tokyo, the Nikkei 225 remained stable at 38,810.26 following the unveiling of November's inflation data. Japan's core inflation rate, which does not account for fresh food prices, saw a year-on-year increase of 2.7%, exceeding market expectations.

This data came on the heels of the Bank of Japan's decision to maintain its benchmark interest rate at 0.25%, a move that bolstered the dollar's value against the yen. Early on Friday, the dollar was trading at 157.11 yen, down slightly from 157.43 yen but still above the 150 yen average seen earlier this month.

The Hang Seng index in Hong Kong inched up by 0.1% to 19,774.22, while the Shanghai Composite index in China climbed by 0.5% to 3,388.22, after the country's central bank decided to keep its loan prime rates unchanged. The one-year lending rate, which influences corporate and most household loans, stayed at 3.1%, and the five-year rate, a key benchmark for mortgage rates, remained at 3.6%. Conversely, Australia's S&P/ASX 200 index dipped by 1.3% to 8,061.40, and South Korea's Kospi index fell by 1.7% to 2,393.60.

Looking back at Thursday's performance, the S&P 500 index inched down by 0.1% to 5,867.08, while the Dow Jones Industrial Average rose by less than 0.1% to 42,342.24, recovering slightly from Wednesday's significant drop of 1,123 points. The Nasdaq composite index also slipped by 0.1% to 19,372.77. Despite the week's market fluctuations, which have tempered some of the bullish sentiment, indices are still hovering near record highs. The S&P 500 is poised for one of its most successful years of the millennium, with a projected gain of 23%.

Traders are now forecasting that the Federal Reserve will likely implement only one or two interest rate cuts in the coming year, with some even speculating that there may be no cuts at all. This is a stark contrast to a month ago when the majority expected at least two cuts in 2025 as a near certainty. Wall Street typically favors lower interest rates as they stimulate the economy and boost investment values, but they can also exacerbate inflationary pressures.

Treasury yields fluctuated after a significant rise on expectations that the Fed would reduce the number of rate cuts in 2025. Economic reports from the U.S. were mixed. One report indicated that the overall economy grew at an annualized rate of 3.1% during the summer, outpacing initial estimates. Despite the Fed's previous maintenance of a two-decade high interest rate, the economy has shown remarkable resilience. Another report revealed that fewer U.S. workers filed for unemployment benefits last week, signaling a continued robust job market. However, a third report surprisingly, despite economists' expectations of growth, the manufacturing industry in the Mid Atlantic region has once again experienced contraction.

The yield on the 10-year Treasury note rose to 4.57% from 4.52% late Wednesday and from below 4.20% earlier this month. Meanwhile, the two-year yield, which more closely aligns with expectations for immediate Fed action, retreated to 4.31% from 4.35%.

In other financial activities, U.S. benchmark crude oil fell by 27 cents to $68.96 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the global benchmark, dropped by 42 cents to $72.46 per barrel. The euro declined to $1.0359 from $1.0367.

The Australian outback, a vast expanse of deserts and semi-arid wilderness, is a testament to the untamed beauty of our planet. It is a land that covers approximately 80% of Australia's interior, an area so immense it could swallow Texas seven times over. Here, the elements are unyielding, with temperatures swinging wildly between day and night, and the landscape is so inhospitable that it is largely forsaken by mankind.

Yet, within this wilderness lies a treasure trove of natural wonders, from the expansive blue skies that seem to stretch on forever to sunsets that paint the horizon for what feels like an eternity, offering some of the most breathtaking scenes on Earth.

For those who seek to delve into the heart of this wild land, the outback presents a conundrum: how to explore without forsaking the comforts of civilization? The answer lies in the rails of The Ghan, a luxury sleeper train that offers a journey of a lifetime from the comfort of its air-conditioned carriages. Spanning an impressive 1,851 miles (2,979 kilometers) and traversing multiple climate zones, The Ghan is one of the world's longest train journeys, connecting the tropical north of Darwin to the lush, rolling hills of Adelaide on the southern coast.

Operating twice weekly in either direction and running year-round except for the sweltering summer months of the southern hemisphere, The Ghan is more than just a mode of transport; it is a floating resort on rails, offering a slow, majestic cruise through the heart of Australia. With top speeds reaching 71 miles (115 kilometers) per hour, the train could, in theory, complete the journey in a day and a half. However, The Ghan is not about haste; it is about the journey, with extended stops and guided excursions that allow passengers to immerse themselves in the rich tapestry of Australia's landscape and culture.

The Ghan is not a mere train; it is a window to the soul of Australia, offering passengers a glimpse into the country's aboriginal history and culture, as well as the struggles faced by European settlers in the 19th century. As the train winds its way through the outback, it stops at small towns that offer unique insights into a past that is both rich and challenging. These settlements, often hundreds of miles away from any major city, are a testament to the resilience of the human spirit in the face of an unforgiving environment.

For those who prefer not to "rough it," The Ghan offers a luxurious alternative, allowing travelers to experience the region's rugged beauty and heritage without lifting a finger. This train is a highly rated bucket-list adventure for many, including Australians themselves. Rhyll Woodall and her husband, for instance, had dreamed of a vacation on The Ghan for a decade, a dream that was sparked by their first glimpse of the outback from an airplane window.

The Ghan Expedition, a southbound, three-night journey, is the longest run possible and departs from Darwin, stopping in Katherine, Alice Springs, and Coober Pedy before arriving in Adelaide on the fourth day, some 75 hours later. On any given day, The Ghan is one of the longest passenger trains in the world, with its length spanning over 900 meters (more than half a mile), its carriages coupling and decoupling like a living organism depending on the number of guest bookings.

Passengers can choose between two service classes: platinum and gold. Platinum, the more expensive option, offers larger cabins and a private dining carriage, while gold class, the most popular choice, provides single rooms for solo travelers and twin cabins for couples, complete with en suite bathrooms and plush lounge seats that convert into bunk beds at night.

Everything about The Ghan is designed to evoke the romance of the golden age of rail travel. The older gold cabins, with their brass fixtures, warm earth-tone interiors, and walnut wood wall paneling, offer a vintage experience that is both charming and nostalgic. It feels like riding in a fancy, slightly cramped, and aging hotel on wheels, a testament to a bygone era of travel.

The Ghan is not cheap, with the price of a double occupancy cabin in gold class starting at around $2,800 per person for three nights on "The Ghan Expedition," and platinum class starting at more than $4,900 per person for the same journey. However, the cost includes food and drinks onboard, even alcohol, which is one reason the bar car, dubbed the Explorer’s Lounge, is always full.

The food is a highlight of any Ghan ride, with most passengers dining at the Queen Adelaide restaurant, a carriage with Art Deco design accents and linen-topped tables. Meals are a multi-course affair, with a menu that changes daily and is inspired by the outback regions the train passes through, offering dishes such as kangaroo loin, grilled saltwater barramundi, and crocodile dumplings.

Onboard Wi-Fi is available, but like mobile coverage along the route, it is unavailable in the most remote sections of the outback, which is virtually the entire trip. This lack of screen time makes The Ghan feel even more like a nostalgic throwback to a simpler era, where conversation and camaraderie take center stage.

For thrill-seekers, be forewarned: there's nothing physically taxing about this long journey. The excursions offer a good chance to stretch your legs, but don't expect to break a sweat. This may be by design, as most travelers on The Ghan are in their 60s and 70s, according to Thomas Borthwick, the guest relations manager for Journey Beyond, the company that operates the train.

Despite the price tag, demand for The Ghan is incredibly high, with many passengers booking their reservations months, sometimes years, in advance. Many riders are train enthusiasts hoping to learn more about the role of the railways in the early exploration and development of Australia's vast interior.

The Ghan began traveling between Adelaide and Alice Springs in 1929, and the track was expanded to Darwin in 2004, creating Australia's first north-south transcontinental railway link. Its name is an abbreviation of "Afghanistan," in recognition of South Asian immigrants who moved to Australia in the 1800s. Many of them brought camels, which Australia desperately needed to venture deeper into the remote outback. Australia's immigrant cameleers were pioneers of outback exploration, helping construct roads and railway lines, including early tracks that made the current route of The Ghan possible.

The Ghan's logo still features a single-humped camel and cameleer, a nod to its historical roots. For Graham Dadleh, one of the two drivers who take turns at the helm over the course of The Ghan's three-night journey, the train holds a special place in his heart. His great-grandfather was an Afghan immigrant who came to Australia with camels, and his family's connection to the outback runs deep.

These days, Dadleh spends much of his time in the locomotive trying to avoid camels, as Australia has an estimated one million feral camels still roaming throughout the deserts of the outback. Fortunately, we did not encounter any on our journey, and by early afternoon on the fourth day, The Ghan rolls into Adelaide's train terminal for its final stop.

Traveling through the wilds of Australia's outback is, for most passengers, the trip of a lifetime. For Dadleh, it's just another day in the office — not that it ever gets old. "Nothing is ever the same from trip to trip. The weather patterns, wildlife, the night skies," Dadleh said. "It's one of the best offices you can work in." And so, The Ghan continues its journey, a symbol of Australia's past and a gateway to its untamed heart.