Gold Prices Head for Biggest Weekly Loss Since June as Fed Rate Outlook Weighs 
European Earnings Season Gains Strength as Barclays Sees Broader Profit Recovery 
Brent Oil Jumps 16% for Best Week Since April as US-Iran Conflict Fuels Supply Fears 
Nikkei Plunges 5% as AI Stock Selloff Spreads Across Asia 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
South Korea Raises Interest Rates to 2.75% as Inflation and Weak Won Drive Tightening 
Wall Street Ends Lower as AI Selloff, Iran Tensions Weigh on Tech Stocks 
US Stock Futures Hold Steady as Soft Inflation Data Eases Fed Rate Hike Fears 
IEA Warns China Rare Earth Export Curbs Could Threaten $6.5 Trillion in Global Production 
U.S. Imposes 25% Tariff on Select Brazilian Imports After Section 301 Trade Investigation 
Last week’s GDP report showed that the U.S. economy grew by 4.1 percent in the second quarter on an annualized basis, which was the highest pace of growth since 2014. The GDP growth beat the ‘GDPNow’ forecast that predicted a 3.8 percent growth. While some of President Trump’s critic said that this is likely to be a one-time event, the latest ‘GDPNow’ forecast released by Atlanta Fed suggests that the momentum is likely to continue further.
The latest forecast which is based on the United States’ economic performance for just one month to the third quarter suggests that the GDP growth would surpass the second quarter as the economy is expected to grow at 4.7 percent in the third.
