Jefferies Names 6 Top India Stock Picks Across Key Sectors 
Asian Currencies Mixed as Yen Rallies on BOJ Bets 
Hungary Industrial Output Beats Forecasts With 4.7% July Growth 
Gold Prices Rise as Yen Rally Weakens Dollar 
Canada Retaliatory Tariffs on U.S. Goods Take Effect 
Gold Prices Rebound as Dollar Weakens, Fed Decision Looms 
China Boosts Gold Reserves by 650,000 Ounces as Prices Rally 
Iran Vows Tougher Response as U.S. Sanctions Squeeze Economy 
US Stock Futures Mixed as Strong Jobs Data Boosts Fed Rate Hike Bets 
US Bans Canadian Alcohol, Motorcycles as Trade War Escalates 
China Exports Surge 25% in August as Trade Surplus Hits $119 Billion 
Asian Stocks Mixed as AI Chip Rally Meets Oil Surge 
Japanese Yen Nears Seven-Month High as Oil Approaches $100 
ECB Set for September Rate Hike as Energy Prices Fuel Inflation 
Iran Plans New Gulf Restricted Zone as Hormuz Tensions Push Oil Higher 
US Stock Futures Mixed as Fed Rate Hike Bets Rise 
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The S&P 500 and Nasdaq closed at record highs Wednesday, driven by strong gains in Nvidia (NASDAQ: NVDA) and GE Vernova amid signs of a potential U.S.-EU trade agreement. The deal, expected to mirror President Trump’s prior accord with Japan, could introduce a broad 15% tariff on EU imports, including cars, according to diplomats.
The S&P 500 rose 0.78% to 6,358.91, while the Nasdaq added 0.61% to 21,020.02. The Dow Jones Industrial Average climbed 1.14% to 45,010.29, just shy of a record close. Year-to-date, the S&P 500 has advanced about 8% and the Nasdaq nearly 9%, buoyed by optimism over trade and robust corporate earnings.
GE Vernova surged 14.6% after boosting revenue and free cash flow forecasts, benefiting from soaring AI and cryptocurrency data center energy demand. Nvidia gained 2.25%, continuing its leadership in the AI chip market. Thermo Fisher (NYSE: TMO) also jumped 9% on strong earnings, while Texas Instruments (NASDAQ: TXN) plunged 13% after weak guidance signaled soft demand for analog chips, dragging peers like NXP Semiconductors (NASDAQ: NXPI) and Analog Devices (NASDAQ: ADI) lower.
Market volatility eased, with the CBOE Volatility Index hitting a five-month low. Investors now await U.S. jobless claims and PMI data for further economic signals. Fed rate cuts are viewed as unlikely next week, with September odds around 58%, per CME FedWatch.
Trading volume was heavy at 19.1 billion shares, above the 20-day average. Advancing stocks outnumbered decliners in the S&P 500 by more than 2-to-1, with 50 new highs recorded.
