Oil Prices Surge as U.S.-Iran Conflict Escalates and Strait of Hormuz Risks Grow 
Japanese Yen Holds Steady as Intervention Hopes Grow Ahead of U.S. CPI Data 
Oil Prices Climb as Trump Escalates Iran Pressure, Strait of Hormuz Risks Grow 
Australia Consumer Sentiment Rises in July as Fuel Price Relief Lifts Confidence 
Australian Business Conditions Hold Steady as Easing Cost Pressures Face New Oil Price Risks 
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 
ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
Dollar Holds Steady Ahead of U.S. CPI as Oil Surge, Middle East Tensions Keep Markets on Edge 
Asian Stocks Slide as Chip Selloff Deepens Ahead of TSMC Earnings 
Port of Los Angeles Posts Record June Cargo Volume as Importers Rush Ahead of U.S. Tariffs 
Gold Prices Slip as Oil Rally Fuels Inflation Fears, Strengthens Dollar 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
South Korea Raises Interest Rates to 2.75% as Inflation and Weak Won Drive Tightening 
Global equities ended the week under pressure as hawkish comments from Federal Reserve officials dampened hopes for another interest rate cut in December. MSCI’s global stock index slipped, while Wall Street posted a muted performance, weighed down by rising U.S. Treasury yields and renewed inflation concerns.
The S&P 500 rebounded from early losses thanks to bargain hunters, even as major markets from Tokyo to Paris closed sharply lower. Investors were also rattled by uncertainty surrounding Britain’s upcoming budget, adding to the strain on UK markets.
Several Fed policymakers struck a cautious tone, citing persistent inflation and a stabilizing labor market after two rate cuts earlier this year. Kansas City Fed President Jeffrey Schmid warned that inflation remains “too hot,” suggesting he could dissent if the Fed moves forward with a December cut. Dallas Fed President Lorie Logan also signaled opposition, echoing her stance from October.
Following the record-long U.S. government shutdown—now 43 days without official data—traders adjusted expectations, pricing in a roughly 46% chance of a December rate cut, down from nearly 67% last week, according to the CME FedWatch tool.
Despite market jitters, the tech-heavy Nasdaq managed to close slightly higher, supported by renewed interest in high-performing tech stocks. Nvidia gained 1.8%, while the S&P 600 tech index inched up 0.3%. Investors are bracing for a busy week ahead featuring earnings from major retailers and Nvidia, key indicators of consumer strength and AI demand.
The Dow fell 0.65% on the day, while the S&P 500 dipped 0.05% and the Nasdaq rose 0.13%. Global markets mirrored the cautious mood, with European and Asian indexes retreating.
In commodities, oil prices jumped over 2% after a Ukrainian drone attack disrupted exports at Russia’s Novorossiisk port. Meanwhile, gold prices fell sharply as Treasury yields climbed, with spot gold dropping over 2%.
Crypto markets also retreated, with bitcoin down nearly 4% and ethereum slightly lower.
