Oil Prices Set for Sharp Weekly Losses as U.S.-Iran Ceasefire Hopes Ease Supply Concerns 
Asian Markets Slide as New U.S. Strikes on Iran Spark Investor Caution 
Gold Prices Slip as Stronger Dollar and Iran Peace Talk Uncertainty Weigh on Market 
Oil Prices Jump After New U.S. Strikes on Iran Raise Supply Concerns 
U.S. Sanctions Iran’s Strait of Hormuz Authority as Global Oil Markets Face Turmoil 
European Stocks Rise as AI Optimism Offsets U.S.-Iran Tensions 
Dollar Gains Slightly as U.S.-Iran Tensions Keep Forex Markets on Edge 
Tokyo Inflation Cools in May, Supporting BOJ’s Cautious Rate Hike Path 
Iran-U.S. Nuclear Talks Remain Unresolved as Strait of Hormuz Risks Keep Markets on Edge 
Wall Street Reaches New Record Highs as AI Boom and Iran Ceasefire Hopes Boost Markets 
US Imposes Fresh Iran Oil Sanctions Despite Progress on Ceasefire Talks 
S&P 500 Hits Record High as Tech Rally Slows Amid Iran Peace Uncertainty 
European EV Sales Surge in April 2026 as Tesla and Chinese Automakers Gain Ground 
ECB’s Philip Lane Warns Middle East Conflict Could Keep Inflation Elevated 
South Korea Central Bank Holds Interest Rates Steady Amid Inflation Concerns 
S&P 500, Nasdaq Hit Record Highs as Iran Ceasefire Talks and AI Rally Boost Markets 
The S&P 500 closed lower Friday in a sharp reversal after the White House confirmed that tariffs on Mexico, Canada, and China would take effect Saturday. The Dow Jones fell 337 points (-0.8%), the S&P 500 dropped 0.5%, and the Nasdaq slid 0.3%, despite trading over 1% higher earlier in the day.
White House Press Secretary Karoline Leavitt confirmed the U.S. will impose 25% tariffs on Mexican and Canadian goods and 10% on Chinese imports. Investors had hoped for a last-minute reversal of the decision, which caused uncertainty in the markets. Macquarie analysts had previously speculated that tariffs on Mexico and Canada wouldn’t take effect on February 1.
Meanwhile, inflation surged in December, with the PCE price index, the Federal Reserve’s preferred measure, rising 0.3% month-over-month and 2.6% annually. Core PCE, excluding food and energy, increased 2.8% year-over-year. Personal spending also climbed 0.7%, surpassing forecasts of 0.5%, driven by a strong labor market and wage growth. The Fed, which left interest rates unchanged this week, continues to monitor inflationary trends.
In corporate news, Apple (NASDAQ: AAPL) closed lower despite forecasting sales growth in the low- to mid-single digits for Q2. Exxon Mobil (NYSE: XOM) dipped 2.5% despite exceeding Q4 profit estimates. Colgate-Palmolive (NYSE: CL) lost 4.6% after missing revenue expectations. AbbVie (NYSE: ABBV) jumped 5% on strong immunology drug sales, while Deckers Outdoor (NYSE: DECK) plummeted 20% following weak revenue guidance.
Market uncertainty persists as traders react to tariff concerns, inflation data, and earnings reports.
