Asian Stocks Rally as Tech Rebounds, China Lags on Nvidia Competition Concerns 
China’s Small Bank Consolidation Struggles as Profits Fall and Risks Persist 
South Korea Extends Bond Market Stabilization Measures Amid Rising Financial Risks 
Oil Prices Rebound as U.S.-Venezuela Tensions Offset Oversupply Concerns 
Gold Prices Slip Slightly in Asia as Silver Nears Record Highs on Dovish Fed Outlook 
China’s November Economic Data Signals Slowing Industrial Output and Weak Consumer Demand 
U.S. Stock Futures Mixed as Tech and AI Stocks Face Pressure Ahead of CPI Data 
U.S. Dollar Slides for Third Straight Week as Rate Cut Expectations Boost Euro and Pound 
Japan Business Sentiment Hits Four-Year High, Boosting Expectations of BOJ Rate Hike 
Gold Prices Dip as Markets Absorb Dovish Fed Outlook; Silver Eases After Record High 
Asian Technology and Chipmaking Stocks Slide as AI Spending Concerns Shake Markets 
Korea Zinc Plans $6.78 Billion U.S. Smelter Investment With Government Partnership 
Mexico Moves to Increase Tariffs on Asian Imports to Protect Domestic Industries 
Dollar Struggles as Markets Eye Key Central Bank Decisions and Global Rate Outlooks 
Asian Currencies Hold Steady as Indian Rupee Slides to Record Low on Fed Outlook 
ASX Shares Slide After ASIC Imposes A$150 Million Capital Requirement 
The S&P 500 closed higher Wednesday after President Donald Trump dismissed reports suggesting he was close to firing Federal Reserve Chair Jerome Powell. Trump clarified he had “no plans” to remove Powell, though he criticized the Fed’s handling of interest rates and costly renovations at its headquarters.
At market close, the Dow rose 231 points (0.5%), the S&P 500 added 0.3%, and the Nasdaq hit a record high of 20,730.49.
On the economic front, U.S. wholesale inflation remained flat in June, with the Producer Price Index (PPI) rising 2.3% annually, down from May’s 2.7%, and unchanged month-on-month. This came after Tuesday's data showed consumer prices rose 2.7% annually, beating expectations.
The Federal Reserve’s Beige Book, offering anecdotal insights into economic conditions, is expected to underscore ongoing stagflation risks amid trade uncertainty. President Trump announced new tariffs, including 200% on pharmaceutical imports and 19% on Indonesian goods, with more “reciprocal” tariffs potentially hitting by August 1.
Meanwhile, Q2 earnings season is in full swing. Bank of America and Goldman Sachs shares rose on strong trading revenue, while Morgan Stanley slipped despite a profit increase. JPMorgan and Citigroup beat estimates but warned of economic risks tied to trade tensions.
Tesla gained 3% after unveiling plans for a six-seater Model Y this fall. Johnson & Johnson stock climbed following an upgraded sales forecast. Global Payments surged 5% on news of Elliott Management’s investment.
Crypto-related stocks like Circle, Coinbase, and Marathon Digital rallied as optimism grew around pending votes on the GENIUS Act and CLARITY Act, two bills that could significantly expand stablecoin adoption.
