Hungary Industrial Output Beats Forecasts With 4.7% July Growth 
UK House Prices Fall for First Time Since 2023 
Hormuz Shipping Slows as Iran Threats Lift Oil Risks 
Canada Retaliatory Tariffs on U.S. Goods Take Effect 
China to Inject $45 Billion Into State Financial Institutions 
Yen Rebounds as BOJ Rate Hike Bets Rise 
Iran Threatens Gulf Energy Assets as U.S. Tensions Escalate 
China Exports Surge 25% in August as Trade Surplus Hits $119 Billion 
Japan GDP Growth Beats Forecast, Boosting BOJ Rate Hike Bets 
Oil Prices Rally as Brent Nears $100 on U.S.-Iran Escalation 
Gold Prices Rebound as Dollar Weakens, Fed Decision Looms 
South Korea GDP Surges on Chip and AI Boom 
Japan, U.S. Stay Aligned on Yen as Currency Surges 
Oil Prices Climb as Iran Threatens Gulf Energy Infrastructure 
Gold Prices Rise as Yen Rally Weakens Dollar 
China Inflation Accelerates in August as CPI, PPI Rise 
Asian Stocks Mixed as Korean Chipmakers Rally 
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The Nasdaq Composite closed at a record high Friday, boosted by Microsoft and Tesla as Wall Street awaited the Federal Reserve’s policy meeting next week. Investors widely expect the Fed to cut interest rates by 25 basis points to counter a cooling labor market and easing inflation.
Microsoft gained 1.8% after avoiding a hefty EU antitrust fine by offering reduced prices for Office without Teams. Tesla surged 7.4% after board chair Robyn Denholm dismissed concerns that CEO Elon Musk’s political activity hurt sales, emphasizing Musk’s active role at the company. Despite the rebound, Tesla shares remain down 2% in 2025.
The Nasdaq rose 0.45% to 22,141.10, while the S&P 500 slipped 0.05% to 6,584.29. The Dow Jones Industrial Average fell 0.59% to 45,834.22. Declines in Goldman Sachs and Sherwin-Williams weighed on the Dow, while healthcare and materials led losses across seven of 11 S&P sectors.
The University of Michigan’s survey showed U.S. consumer sentiment dropped for a second month in September, reflecting concerns about inflation, jobs, and business conditions. Futures markets now anticipate total rate cuts of 75 basis points by year-end.
For the week, the S&P 500 rose 1.6%, the Dow gained nearly 1%, and the Nasdaq advanced 2%, supported by a resurgence in artificial intelligence stocks after Oracle’s upbeat forecast. Warner Bros Discovery jumped 17% following reports of a potential takeover bid from Paramount Skydance.
Vaccine makers struggled, with Moderna dropping 7.4% and Pfizer and Novavax losing over 3% after reports linked COVID-19 vaccines to child fatalities.
Overall, declining S&P 500 stocks outnumbered advancers 3.3 to 1. The index posted 22 new highs versus 3 new lows, while the Nasdaq recorded 106 new highs and 43 new lows.
