Nikkei Plunges 5% as AI Stock Selloff Spreads Across Asia 
Japan Core Inflation Seen Rising in June, Strengthening BOJ Rate Hike Outlook 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
US Stock Futures Hold Steady as Soft Inflation Data Eases Fed Rate Hike Fears 
Brazil Weighs IP Curbs, Patent Suspensions After New 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 
U.S. Imposes 25% Tariff on Select Brazilian Imports After Section 301 Trade Investigation 
Port of Los Angeles Posts Record June Cargo Volume as Importers Rush Ahead of U.S. Tariffs 
Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
Oil Prices Rise as U.S. Strikes on Iran Raise Strait of Hormuz Supply Fears 
Dollar Slides as Softer US Inflation Dims Fed Rate Hike Expectations 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
South Korea Raises Interest Rates to 2.75% as Inflation and Weak Won Drive Tightening 
Oil Prices Set for Weekly Surge as U.S.-Iran Conflict Fuels Supply Fears 
Asian Stocks Rally as Cooling U.S. Inflation Boosts Fed Rate Cut Hopes 
Oil Prices Climb as Trump Escalates Iran Pressure, Strait of Hormuz Risks Grow 
U.S. stock index futures edged higher Wednesday evening as investors processed a hotter-than-expected consumer inflation report, reducing the likelihood of near-term interest rate cuts. Wall Street ended mostly lower following the inflation data, though strong corporate earnings helped limit losses. However, concerns over trade tariffs under former President Donald Trump kept markets in a tight range.
By 18:35 ET (23:35 GMT), S&P 500 Futures inched up 0.1% to 6,078.50, while Nasdaq 100 Futures rose 0.2% to 21,855.0. Dow Jones Futures gained 0.1% to 44,507.0.
January’s Consumer Price Index (CPI) data came in hotter than anticipated, reinforcing expectations that the Federal Reserve will keep interest rates unchanged in the near term. Fed Chair Jerome Powell, speaking before Congress, reaffirmed that rate cuts would only come once inflation clearly moves toward the 2% target. The Fed has already cut rates by 1% in 2024 but remains cautious due to a strong labor market and economic resilience.
Meanwhile, Trump has pledged to curb inflation, blaming the Biden administration. However, analysts warn that his recent 25% tariffs on steel and aluminum imports, along with potential reciprocal tariffs, could drive inflation higher in the coming months.
Wall Street ended lower Wednesday, with the S&P 500 slipping 0.3% to 6,051.92, the Dow falling 0.5% to 44,368.68, and the Nasdaq Composite finishing flat at 19,649.95. Despite market weakness, earnings from CVS Health (NYSE:CVS) and Gilead Sciences (NASDAQ:GILD) provided some support, with CVS soaring 15% and Gilead jumping 7.5%. Robinhood (NASDAQ:HOOD), MGM Resorts (NYSE:MGM), Applovin (NASDAQ:APP), and Dutch Bros (NASDAQ:BROS) also posted strong gains post-earnings.
Persistent concerns over high rates, inflation, and trade policy uncertainty continue to weigh on investor sentiment.
