Gold Prices Hold Near Record Levels as Inflation Concerns Offset Middle East Ceasefire Hopes 
Dollar Gains Slightly as U.S.-Iran Tensions Keep Forex Markets on Edge 
U.S. Sanctions Iran’s Strait of Hormuz Authority as Global Oil Markets Face Turmoil 
New World Screwworm Found Near U.S. Border Raises Threat to Cattle Industry and Beef Prices 
S&P 500, Nasdaq Hit Record Highs as Iran Ceasefire Talks and AI Rally Boost Markets 
Tokyo Inflation Cools in May, Supporting BOJ’s Cautious Rate Hike Path 
European EV Sales Surge in April 2026 as Tesla and Chinese Automakers Gain Ground 
S&P 500 Hits Record High as Tech Rally Slows Amid Iran Peace Uncertainty 
US Dollar Slips as Markets Weigh Potential US-Iran Peace Deal and Oil Price Outlook 
Dow Hits Record High as Healthcare and Consumer Stocks Lead Wall Street Rally 
Nikkei Hits Record High as AI Chip Stocks Power Japan Market Rally 
Asian Markets Slide as New U.S. Strikes on Iran Spark Investor Caution 
US Imposes Fresh Iran Oil Sanctions Despite Progress on Ceasefire Talks 
Asian Currencies Steady as U.S.-Iran Ceasefire Extension Hopes Weigh on Dollar 
US Launches New Trade Investigation Into Vietnam Over Intellectual Property Concerns 
Oil Prices Fall as Markets Await U.S.-Iran Peace Deal Decision 
Gold Prices Slip as Stronger Dollar and Iran Peace Talk Uncertainty Weigh on Market 
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.
