ECB Set for September Rate Hike as Energy Prices Fuel Inflation 
Hormuz Shipping Slows as Iran Threats Lift Oil Risks 
China to Inject $45 Billion Into State Financial Institutions 
Canada Retaliatory Tariffs on U.S. Goods Take Effect 
Asian Stocks Rally as AI Optimism Fuels Chipmaker Surge 
US Stock Futures Mixed as Strong Jobs Data Boosts Fed Rate Hike Bets 
Jefferies Names 6 Top India Stock Picks Across Key Sectors 
Japanese Yen Nears Seven-Month High as Oil Approaches $100 
Japan Foreign Reserves Plunge $79.6 Billion After Record Yen Intervention 
Japan GDP Growth Beats Forecast, Boosting BOJ Rate Hike Bets 
Asian Stocks Mixed as Korean Chipmakers Rally 
Gold Prices Rise as Yen Rally Weakens Dollar 
Oil Prices Rally as Brent Nears $100 on U.S.-Iran Escalation 
US Bans Canadian Alcohol, Motorcycles as Trade War Escalates 
China Inflation Accelerates in August as CPI, PPI Rise 
Oil Prices Climb as Iran Threatens Gulf Energy Infrastructure 
European Stocks Flat as Iran Tensions, ECB Rate Hike Loom 
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The S&P 500 and Nasdaq Composite closed at record highs on Thursday, driven by strong U.S. retail sales data and upbeat corporate earnings. The Nasdaq rose 153.78 points (0.74%) to 20,884.27, marking its sixth record close in seven sessions. The S&P 500 gained 33.66 points (0.54%) to 6,297.36, while the Dow Jones climbed 229.71 points (0.52%) to 44,484.49.
Investors embraced signs of resilient consumer spending, despite concerns over inflation and President Trump’s recent tariffs. U.S. retail sales rebounded sharply in June, indicating strong consumer confidence even amid trade tensions and higher prices. Analysts noted that both economic indicators and earnings have provided support for the ongoing market rally.
Fed Governor Adriana Kugler confirmed Thursday that interest rate cuts remain on hold as policymakers assess the inflationary impact of import tariffs. Market expectations now place the probability of a September rate cut at 54%, while a July move is largely dismissed, according to CME’s FedWatch tool.
Earnings from major consumer and tech companies boosted sentiment. PepsiCo surged 7.5% after upbeat forecasts, fueled by demand for energy drinks and healthier beverages. United Airlines jumped 3.1% on stronger post-July demand. Delta and American Airlines also gained over 1.4%.
Tech stocks rallied following strong earnings from TSMC, the top AI chipmaker, which reported record quarterly profits and strong AI demand. U.S.-listed shares of TSMC rose 3.4%, with Marvell and Nvidia up 1.6% and 1%, respectively.
Financials led sector gains with a 0.9% rise. Netflix advanced 1.9% before posting better-than-expected earnings, boosted by the final season of “Squid Game.” Analysts say Big Tech could see more upside as AI momentum and earnings season continue.
