Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
UBS Boosts China Tech Bets, Adds Kuaishou and Meituan to Focus List 
Malaysia Q2 Economy Grows 5.8%, Beating Forecasts on Strong Tech Exports and Domestic Demand 
Dollar Slides as Softer US Inflation Dims Fed Rate Hike Expectations 
US Stock Futures Fall as Netflix Outlook, Chip Selloff and Iran Tensions Weigh on Markets 
Japan Core Inflation Seen Rising in June, Strengthening BOJ Rate Hike Outlook 
Port of Los Angeles Posts Record June Cargo Volume as Importers Rush Ahead of U.S. Tariffs 
Nikkei Plunges 5% as AI Stock Selloff Spreads Across Asia 
Asian Stocks Slide as Nikkei Leads Losses on Tech Selloff and Rising U.S.-Iran Tensions 
Gold Prices Head for Biggest Weekly Loss Since June as Fed Rate Outlook Weighs 
Asian Stocks Slide as Chip Selloff Deepens Ahead of TSMC Earnings 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
U.S. Imposes 25% Tariff on Select Brazilian Imports After Section 301 Trade Investigation 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
AI Chip Stocks Face Valuation Pressure as Investors Shift Toward Big Tech and Software 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
U.S. stocks closed mixed Wednesday, with the S&P 500 and Nasdaq setting new record highs, fueled by strong tech performance and easing trade tensions following a deal between the U.S. and Vietnam. The Dow Jones dipped slightly, ending 0.02% lower at 44,484.42 but remained within 1.2% of its December record.
Tech giants Nvidia (NASDAQ: NVDA), Apple (NASDAQ: AAPL), and Tesla (NASDAQ: TSLA) led the Nasdaq to a 0.94% gain, closing at 20,393.13. Tesla rose 5% despite reporting a sharp drop in Q2 deliveries, with some analysts noting the decline was less severe than feared. Leveraged ETF TSLL, offering 2x daily exposure to Tesla, saw high trading volume.
The S&P 500 added 0.47%, closing at 6,227.42. The market initially opened lower after weaker-than-expected private payroll data but rebounded after the announcement of 20% tariffs on Vietnamese exports under the new trade deal. Investors welcomed the development, hoping it signals progress in broader trade talks. The Trump administration also hinted at a potential agreement with India.
Investor attention now turns to Thursday’s non-farm payrolls report, released a day early due to the July 4 holiday. Economists expect cooling job growth and a slight uptick in the unemployment rate to 4.3%, which could push the Federal Reserve closer to rate cuts.
Centene (NYSE: CNC) plunged 40% after withdrawing its 2025 earnings outlook, citing a major revenue shortfall in its health insurance plans.
Trading volume reached 16.95 billion shares, just below the 20-day average. Analysts say investor sentiment remains risk-on, driven by hopes of looser monetary policy and improving trade dynamics.
