Oil Prices Edge Higher as U.S. Seizes Sanctioned Venezuelan Tanker 
Hong Kong Cuts Base Rate as HKMA Follows U.S. Federal Reserve Move 
US Signals Openness to New Trade Deal as Brazil Shows Willingness, Says USTR Greer 
Wall Street Futures Dip as Broadcom Slides, Tech Weighed Down Despite Dovish Fed Signals 
U.S. Dollar Slides for Third Straight Week as Rate Cut Expectations Boost Euro and Pound 
Wall Street Futures Slip as Oracle Earnings Miss Reignites AI Spending Concerns 
Modi and Trump Hold Phone Call as India Seeks Relief From U.S. Tariffs Over Russian Oil Trade 
Japan Weighs New Tax Breaks to Boost Corporate Investment Amid Spending Debate 
Ireland Limits Planned Trade Ban on Israeli Settlements to Goods Only 
Asian Stocks Rally as Tech Rebounds, China Lags on Nvidia Competition Concerns 
Indonesia–U.S. Tariff Talks Near Completion as Both Sides Push for Year-End Deal 
Fed Rate Cut Signals Balance Between Inflation and Jobs, Says Mary Daly 
Russia Stocks End Flat as Energy and Retail Shares Show Mixed Performance 
Global Markets Slide as Tech Stocks Sink, Yields Rise, and AI Concerns Deepen 
Asian Stocks Slip as Oracle Earnings Miss Sparks AI Profitability Concerns 
Asian shares eased on Thursday as investors locked in profits and positioned for month- and quarter-end portfolio rebalancing. MSCI’s broadest index of Asia-Pacific shares outside Japan slipped 0.2% after surging 5.5% this month and 9% this quarter. Japan’s Nikkei rose 0.1%, extending a robust 13% quarterly gain. Hong Kong’s Hang Seng edged down 0.2%, while Chinese blue chips were little changed. Analysts noted that rebalancing flows could trigger selling in U.S. and Japanese indices, with Germany and Australia likely to benefit.
Wall Street closed lower for a second straight session as traders took profits after record highs. S&P 500 and Nasdaq futures inched up 0.1% ahead of remarks from Federal Reserve officials. San Francisco Fed President Mary Daly signaled further interest rate cuts would be needed, though the timing remains uncertain. Fed Chair Jerome Powell struck a cautious tone after last week’s first policy easing of the year. Futures markets still price in a 92% chance of an October cut, but expectations for total 2025 easing have trimmed to 100 bps from 125 bps.
Bond markets were volatile as investors digested heavy U.S. government and corporate supply. The 10-year Treasury yield held at 4.14%, steady after a three-basis-point rise. The Treasury is set to auction $44 billion in seven-year notes following earlier two- and five-year sales.
In currencies, the yen weakened to a one-year low of 174.78 against the euro and a record trough of 187.30 against the Swiss franc. The dollar eased slightly to 148.77 yen after sharp overnight gains. The Swiss National Bank is expected to pause its tightening cycle later today.
Commodities were mixed. U.S. crude slipped 0.4% to $64.73 a barrel and Brent dipped 0.3% to $69.11, though prices remain near seven-week highs. Analysts highlight ongoing supply concerns from Iraq, Venezuela, and Russia. Gold held steady at $3,739 an ounce, consolidating after a dollar-driven decline.
Investors now await key U.S. economic releases, including the Fed’s preferred inflation gauge, the PCE report, and the final Q2 GDP reading.
