US Stock Futures Fall as Netflix Outlook, Chip Selloff and Iran Tensions Weigh on Markets 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
Nikkei Plunges 5% as AI Stock Selloff Spreads Across Asia 
Asian Stocks Slide as Nikkei Leads Losses on Tech Selloff and Rising U.S.-Iran Tensions 
Japan Core Inflation Seen Rising in June, Strengthening BOJ Rate Hike Outlook 
US Stock Futures Hold Steady as Soft Inflation Data Eases Fed Rate Hike Fears 
Oil Prices Climb as Trump Escalates Iran Pressure, Strait of Hormuz Risks Grow 
Gold Prices Head for Biggest Weekly Loss Since June as Fed Rate Outlook Weighs 
AI Chip Stocks Face Valuation Pressure as Investors Shift Toward Big Tech and Software 
U.S. Imposes 25% Tariff on Select Brazilian Imports After Section 301 Trade Investigation 
Malaysia Q2 Economy Grows 5.8%, Beating Forecasts on Strong Tech Exports and Domestic Demand 
IEA Warns China Rare Earth Export Curbs Could Threaten $6.5 Trillion in Global Production 
China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
Port of Los Angeles Posts Record June Cargo Volume as Importers Rush Ahead of U.S. Tariffs 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
Oil prices held steady early Friday following a sharp rally in the previous session, fueled by easing U.S.-China trade tensions and a new trade agreement between the U.S. and the UK. Brent crude inched up 7 cents to $62.91 per barrel, while U.S. West Texas Intermediate (WTI) crude gained 7 cents to trade at $59.98 as of 0121 GMT. This comes after Brent rose 2.8% and WTI jumped 3.2% on Thursday.
Investor sentiment improved as U.S. Treasury Secretary Scott Bessent prepares to meet China’s Vice Premier He Lifeng in Switzerland on May 10, aiming to resolve trade disputes that have threatened global crude oil demand. Simultaneously, U.S. President Donald Trump and British Prime Minister Keir Starmer announced a breakthrough trade deal, with the UK slashing tariffs on U.S. goods to 1.8% from 5.1%. The U.S., in turn, lowered duties on British car imports but retained a 10% tariff on most other goods.
Meanwhile, oil supply dynamics remain in focus. OPEC+ is expected to gradually boost output, though a Reuters survey shows April production dipped due to declines in Libya, Venezuela, and Iraq. These cuts offset scheduled increases, potentially limiting the downward pressure on prices.
Additionally, stricter U.S. sanctions on Iran could tighten global supply. Recent penalties against two Chinese refiners for purchasing Iranian crude have disrupted their operations, forcing them to offload oil under alternative labels, sources told Reuters.
While geopolitical developments support prices, rising supply from OPEC+ could cap gains in the near term. Traders are closely watching upcoming trade talks and sanctions enforcement for further market direction.
