Japanese Yen Nears Seven-Month High as Oil Approaches $100 
Asian Stocks Mixed as AI Chip Rally Meets Oil Surge 
European Stocks Flat as Iran Tensions, ECB Rate Hike Loom 
South Korea GDP Surges on Chip and AI Boom 
Hungary Industrial Output Beats Forecasts With 4.7% July Growth 
Oil Prices Rally as Brent Nears $100 on U.S.-Iran Escalation 
Canada Retaliatory Tariffs on U.S. Goods Take Effect 
Japan Foreign Reserves Plunge $79.6 Billion After Record Yen Intervention 
China to Inject $45 Billion Into State Financial Institutions 
US Stock Futures Mixed as Fed Rate Hike Bets Rise 
Japan, U.S. Stay Aligned on Yen as Currency Surges 
Iran Threatens Gulf Energy Assets as U.S. Tensions Escalate 
Asian Stocks Rally as AI Optimism Fuels Chipmaker Surge 
Asian Currencies Mixed as Yen Rallies on BOJ Bets 
US Bans Canadian Alcohol, Motorcycles as Trade War Escalates 
Hormuz Shipping Slows as Iran Threats Lift Oil Risks 
China Boosts Gold Reserves by 650,000 Ounces as Prices Rally 
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U.S. stock index futures rose sharply Wednesday evening, driven by strong quarterly earnings from Microsoft and Meta Platforms that boosted optimism for AI-led growth. The rally followed a muted Wall Street session earlier in the day after the Federal Reserve left interest rates unchanged, dampening expectations for a rate cut in September.
Nasdaq 100 futures jumped 1.1% to 23,719.75 points, while S&P 500 futures gained 0.7% to 6,441.25 points. Dow Jones futures added 0.2% to 44,690 points. The tech-heavy Nasdaq outperformed as investor sentiment improved on robust results from major tech firms.
During regular trading, the S&P 500 slipped 0.1%, the Nasdaq Composite rose 0.2%, and the Dow Jones Industrial Average fell 0.4%. The Fed’s decision marked the first double dissent since 1993, with Trump-appointed governors Michelle Bowman and Christopher Waller favoring a 25 basis-point cut. President Donald Trump criticized the central bank, urging rapid rate reductions to spur growth.
Economic data earlier Wednesday showed U.S. GDP grew more than expected in Q2, rebounding from a Q1 contraction. Private payrolls rose by 104,000 in July, ahead of Friday’s key nonfarm payrolls report.
Microsoft surged over 8% after reporting strong cloud and AI-driven revenue, while Meta soared nearly 12% on robust ad growth and upbeat guidance. Apple and Amazon are set to report next.
In trade developments, Trump announced a 15% tariff on South Korean imports alongside a $350 billion U.S. investment pledge from Seoul and a 25% tariff on India over Russian military purchases. A 50% tariff on semi-finished copper products begins August 1, signaling escalating trade tensions.
