European Stocks Diverge as French Fiscal Crisis Hits CAC 40 
Trump Plans Diesel Tax Relief as Fuel Prices Hit Record Highs 
Euro Hits 17-Month Low as France Debt Fears Boost Dollar 
Australia Consumer Confidence Plunges as RBA Rate Hike Hits Households 
Oil Prices Fall as Middle East Exports Recover, G7 Eases Supply Fears 
Ukraine Faces $56 Billion Budget Gap as War Costs Soar 
Middle East Oil Exports Top Pre-War Levels Despite Hormuz Attacks 
China Shuts 670 Banks as Bitcoin Eyes Financial Risks 
India-US Trade Deal Talks Hit Plateau, Sitharaman Says 
OPEC+ Keeps November Oil Output Targets Steady 
World Bank Raises South Asia Growth Forecast to 6.9% 
US Stock Futures Rise as Weak Jobs Data Eases Fed Hike Bets 
Samsung, SK Hynix Shares Fall Ahead of Q3 Earnings 
Europe EV Sales Hit Record as Affordable Models Boost Demand 
Gold Prices Slip as Strong Dollar and High Treasury Yields Weigh 
Gold Prices Rise as Weak US Jobs Data Cuts Fed Hike Bets 
Add as a preferred source on Google
Asian markets surged Thursday as positive earnings and easing trade tensions boosted risk sentiment. Japan’s Topix index reached a record high, tracking Wall Street’s gains after Alphabet (NASDAQ: GOOGL) beat earnings estimates, sparking optimism for the “Magnificent Seven” tech results driving U.S. markets.
The rally followed a U.S.-Japan trade pact that fueled speculation of more agreements to mitigate tariffs. The United States recently secured trade deals with the Philippines and Indonesia, while a U.S.-EU agreement imposing 15% tariffs on select European imports and exempting others is reportedly nearing completion. Additionally, U.S. and Chinese officials are set to meet in Stockholm next week to discuss trade.
Second-quarter earnings season in the U.S. is underway, with 23% of S&P 500 companies reporting so far; 85% have exceeded Wall Street forecasts, according to LSEG data. Alphabet highlighted soaring demand for its cloud services and announced increased capital spending, while Tesla (NASDAQ: TSLA) reported its steepest sales decline in over a decade, missing profit expectations.
MSCI’s Asia-Pacific index outside Japan rose 0.3%, while Japan’s Topix advanced 1.4%. The Australian dollar, viewed as a risk proxy, climbed to $0.66, its highest level since November 2024. The U.S. dollar slipped 0.1% to 146.38 yen.
Commodities also gained: U.S. crude rose 0.4% to $65.5 per barrel, and spot gold edged up 0.1% to $3,390.84 an ounce. European futures mirrored the bullish sentiment, with Euro Stoxx 50 and German DAX futures up 1.3%, while U.S. S&P 500 and Nasdaq futures added 0.13% and 0.4%, respectively, signaling continued global market momentum.
