Oil Prices Climb as Trump Escalates Iran Pressure, Strait of Hormuz Risks Grow 
China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
IEA Warns China Rare Earth Export Curbs Could Threaten $6.5 Trillion in Global Production 
China Trade Surplus Hits $125.6 Billion as June Exports, Imports Smash Forecasts 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
Goldman Sees Foreign Investors Driving India Stock Market Recovery 
Gold Price Holds Near $4,000 as Middle East Tensions and Fed Rate Hike Bets Grow 
Oil Prices Rise as U.S. Strikes on Iran Raise Strait of Hormuz Supply Fears 
Australian Business Conditions Hold Steady as Easing Cost Pressures Face New Oil Price Risks 
Asian Stocks Slide as Oil Surge, U.S.-Iran Tensions and Fed Rate Bets Weigh on Markets 
U.S. Imposes 25% Tariff on Select Brazilian Imports After Section 301 Trade Investigation 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
Dollar Slides as Softer US Inflation Dims Fed Rate Hike Expectations 
Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
Port of Los Angeles Posts Record June Cargo Volume as Importers Rush Ahead of U.S. Tariffs 
Dollar Holds Steady Ahead of U.S. CPI as Oil Surge, Middle East Tensions Keep Markets on Edge 
The S&P 500 and Nasdaq closed at record highs on Monday as enthusiasm for artificial intelligence (AI) stocks offset concerns over the ongoing U.S. government shutdown. The rally was led by chipmakers after AMD announced a major deal with OpenAI to supply AI chips, a move projected to generate tens of billions in annual revenue and potentially grant OpenAI up to a 10% stake in AMD. Shares of AMD soared 23.7%, lifting the broader Philadelphia Semiconductor Index by 2.9%.
Market optimism persisted despite the shutdown entering its sixth day, delaying key economic data releases. Investors instead turned to secondary indicators such as consumer credit and mortgage demand to gauge the economy’s health. According to Robert Pavlik, senior portfolio manager at Dakota Wealth, “The market remains captivated by the AI trend, particularly in technology and consumer discretionary sectors.” He cautioned, however, that “waves don’t go on forever; it’s hard to know when this one will crest.”
Federal Reserve officials maintained a cautious tone on rate cuts, even as markets priced in a 94.6% probability of a 25 basis point reduction at the October meeting. The Dow Jones Industrial Average slipped 0.14% to 46,694.97, while the S&P 500 gained 0.36% to 6,740.28, and the Nasdaq climbed 0.71% to 22,941.67. Consumer discretionary stocks led S&P gains, while real estate lagged.
Corporate movers added to market excitement. Tesla jumped 5.5% after teasing an upcoming event on X, while Comerica surged 13.7% after being acquired by Fifth Third in an $10.9 billion all-stock deal. In contrast, Starbucks fell 5% following a price target cut, and Verizon dropped 5.1% after naming former PayPal CEO Dan Schulman as its new leader. Bitcoin also broke the $125,000 mark, boosting crypto-linked firms like Coinbase and Riot Platforms.
With earnings season approaching, analysts expect S&P 500 companies to post 8.8% year-on-year profit growth for Q3, further fueling optimism across Wall Street.
