Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease 
China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
European Stocks Rise as Markets Await Key U.S. Inflation Data 
Spain’s Industrial Output Records Steady Growth in October Amid Revised September Figures 
Dollar Holds Steady as Markets Shift Focus to 2026 Rate Cut Expectations 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
Citi Sets Bullish 2026 Target for STOXX 600 as Fiscal Support and Monetary Easing Boost Outlook 
Germany’s Economic Recovery Slows as Trade Tensions and Rising Costs Weigh on Growth 
BOJ Faces Pressure for Clarity, but Neutral Rate Estimates Likely to Stay Vague 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
Asian Markets Mixed as RBI Cuts Rates and BOJ Signals Possible Hike 
European Oil & Gas Stocks Face 2026 With Cautious Outlook Amid Valuation Pressure 
U.S. stocks closed sharply lower Friday after a disappointing July jobs report fueled recession fears and renewed volatility in tech shares led by Amazon. The Dow Jones Industrial Average dropped 542 points (1.7%), the S&P 500 fell 1.7%, and the Nasdaq Composite slid 2.2%.
The Labor Department reported just 73,000 new jobs in July, far below the expected 106,000. June’s data was also revised sharply lower, with total job revisions cutting 258,000 positions. The unemployment rate ticked up to 4.2%. Economists warned that manufacturing weakness and downward revisions paint a more fragile picture of the labor market than previously thought.
Following the report, President Donald Trump ordered the firing of Labor Statistics Commissioner Erika McEntarfer, accusing her of manipulating job data. Treasury yields plunged as traders increased bets on Federal Reserve rate cuts. Fed Governor Adriana Kugler’s resignation added to speculation about a potential policy shift ahead of the September meeting.
Market sentiment worsened after Trump signed an executive order raising tariffs — up to 50% on some countries — starting Aug. 7. Canada faces a 35% levy on certain goods, while Brazil will be hit with the highest duties.
Amazon shares tumbled after issuing weak income guidance despite AWS revenue rising 17.5% to $30.9 billion. Apple reversed gains despite beating expectations on iPhone and services sales, while Coinbase fell on weaker trading profits. Reddit shares surged on strong advertising forecasts, and energy giants Exxon and Chevron declined despite higher production.
Investors now await upcoming inflation data to gauge the Fed’s next move as markets remain under pressure from slowing growth and escalating trade tensions.
