Oil Prices Rebound as Trump Orders Blockade of Sanctioned Venezuelan Tankers 
Bank of Korea Downplays Liquidity’s Role in Weak Won and Housing Price Surge 
Asian Stocks Slide as AI Spending Fears and Global Central Bank Decisions Weigh on Markets 
Oil Prices Steady in Asia but Headed for Weekly Loss on Supply Glut Concerns 
Gold and Silver Surge as Safe Haven Demand Rises on U.S. Economic Uncertainty 
Asian Currencies Trade Sideways as Dollar Weakens Ahead of Key U.S. Data 
U.S. Dollar Steadies Near October Lows as Rate Cut Expectations Keep Markets on Edge 
Trump Orders Blockade of Sanctioned Oil Tankers, Raising Venezuela Tensions and Oil Prices 
BoE Set to Cut Rates as UK Inflation Slows, but Further Easing Likely Limited 
U.S. Stock Futures Slip After CPI-Fueled Rally as Markets Weigh Economic Uncertainty 
South Korea Warns Weak Won Could Push Inflation Higher in 2025 
Gold and Silver Prices Dip as Markets Await Key U.S. Economic Data 
Chinese Robotaxi Stocks Rally as Tesla Boosts Autonomous Driving Optimism 
RBA Unlikely to Cut Interest Rates in 2026 as Inflation Pressures Persist, Says Westpac 
Austan Goolsbee Signals Potential for More Fed Rate Cuts as Inflation Shows Improvement 
Asian Stocks Edge Higher as Tech Recovers, U.S. Economic Uncertainty Caps Gains 
Oil Prices Climb on Venezuela Blockade, Russia Sanctions Fears, and Supply Risks 
U.S. stocks fell sharply Friday as Middle East tensions intensified after Iran launched missile strikes on Israel, prompting fears of a broader conflict, surging oil prices, and potential economic slowdown. The S&P 500 dropped 1.2%, the Dow Jones lost 769 points (1.8%), and the Nasdaq declined 1.3%.
Iran’s retaliatory strike came in response to Israel’s attack on Tehran’s nuclear and military sites—the largest assault on Iran since the 1980s. Israel has vowed further strikes, while former President Trump urged Iran to reenter nuclear negotiations, warning of more devastating attacks if no deal is reached.
The flare-up has rattled global markets, especially as the region is key to global oil production. Over 100 drones were reportedly launched by Iran, triggering emergency alerts across Israel. The rising risk of supply disruption sent oil prices soaring, boosting energy stocks like Halliburton, APA Corp, and EOG Resources.
In contrast, airline stocks such as Delta and United plunged on fears of rising fuel costs, while defense stocks including Lockheed Martin and Northrop Grumman rallied amid expectations of increased military spending.
Economic data offered mixed signals. The University of Michigan’s consumer sentiment index rebounded to 60.5 in June, suggesting easing concern over recent U.S. tariff hikes. Meanwhile, inflation indicators like the PPI and CPI remained subdued, though Trump reignited trade tension by threatening higher auto tariffs and announcing upcoming letters to major U.S. trade partners.
Tech stocks were mixed. Adobe dipped despite raising guidance, while Apple ticked higher as it regained top smartphone market share in China, with a 15% global sales increase in April-May.
Markets now brace for potential escalation in the Iran-Israel conflict and further economic ripple effects across global oil and equity markets.
