China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
Asian Stocks Rally as Cooling U.S. Inflation Boosts Fed Rate Cut Hopes 
Port of Los Angeles Posts Record June Cargo Volume as Importers Rush Ahead of U.S. Tariffs 
Asian Currencies Hold Steady as Middle East Tensions Offset Weaker US Dollar 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
AI Chip Stocks Face Valuation Pressure as Investors Shift Toward Big Tech and Software 
Gold Prices Slip as Oil Rally Fuels Inflation Fears, Strengthens Dollar 
ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
Gold Prices Head for Biggest Weekly Loss Since June as Fed Rate Outlook Weighs 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
Dollar Slides as Softer US Inflation Dims Fed Rate Hike Expectations 
Oil Prices Rise as U.S. Strikes on Iran Raise Strait of Hormuz Supply Fears 
Asian Stocks Slide as Chip Selloff Deepens Ahead of TSMC Earnings 
Japan Core Inflation Seen Rising in June, Strengthening BOJ Rate Hike Outlook 
IEA Warns China Rare Earth Export Curbs Could Threaten $6.5 Trillion in Global Production 
Malaysia Q2 Economy Grows 5.8%, Beating Forecasts on Strong Tech Exports and Domestic Demand 
U.S. stock futures edged higher Thursday night after a sharp decline on Wall Street, driven by Nvidia’s steep losses despite strong earnings. Investors remain cautious ahead of the upcoming PCE inflation report.
S&P 500 Futures rose 0.2% to 5,888.75, Nasdaq 100 Futures climbed 0.4% to 20,678.25, and Dow Jones Futures inched up 0.1% to 43,331.0. Nvidia (NASDAQ: NVDA) plunged 8.5% to $120.15, despite beating earnings estimates, as concerns over narrowing margins and AI chip market challenges weighed on sentiment. Increased production costs tied to the Blackwell chip rollout fueled investor worries.
Tech stocks followed Nvidia’s downturn, dragging the Nasdaq Composite 2.8% lower to 18,544.52. The S&P 500 lost 1.6% to 5,861.70, while the Dow dipped 0.4%. Broadcom (NASDAQ: AVGO) slid 7.1%, and AMD (NASDAQ: AMD) fell 5%. Salesforce (NYSE: CRM) dropped over 4% after issuing a weak revenue forecast.
Economic data signaled a slowdown, with initial jobless claims rising amid layoffs and winter weather disruptions. The U.S. GDP grew at a slower 2.3% annual rate in Q4, down from 3.1% in Q3. Weak services PMI and consumer sentiment data strengthened expectations for 2025 rate cuts, though the Fed is likely to hold rates steady for now.
Investors now await the Fed’s preferred inflation gauge, the PCE price index, set for release Friday. Analysts forecast a 0.3% monthly increase and a 2.5% year-over-year rise, indicating a slowdown in inflation. However, persistent high costs in housing and healthcare continue to pressure consumers.
