Asian Currencies Mixed as Yen Rallies on BOJ Bets 
Japanese Yen Nears Seven-Month High as Oil Approaches $100 
Iran Vows Tougher Response as U.S. Sanctions Squeeze Economy 
China to Inject $45 Billion Into State Financial Institutions 
China Boosts Gold Reserves by 650,000 Ounces as Prices Rally 
Japan, U.S. Stay Aligned on Yen as Currency Surges 
UK Food Inflation Forecast to Hit 6.4% by Mid-2027 
Hungary Industrial Output Beats Forecasts With 4.7% July Growth 
China Inflation Accelerates in August as CPI, PPI Rise 
Brent Oil Tops $100 as Middle East Conflict Threatens Supply 
US Bans Canadian Alcohol, Motorcycles as Trade War Escalates 
Iran Plans New Gulf Restricted Zone as Hormuz Tensions Push Oil Higher 
US Stock Futures Mixed as Fed Rate Hike Bets Rise 
ECB Set for September Rate Hike as Energy Prices Fuel Inflation 
UK House Prices Fall for First Time Since 2023 
Iraq Seeks 6 Million Bpd OPEC+ Oil Quota 
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The S&P 500 closed higher Tuesday as investors balanced strong earnings with rising US-China trade tensions. The Dow gained 142 points (0.3%), the S&P 500 climbed 0.72%, and the Nasdaq surged 262 points (1.4%).
President Trump postponed 25% tariffs on Canada and Mexico but imposed a 10% duty on Chinese goods, prompting Beijing to retaliate. China imposed tariffs on US coal, LNG, crude oil, and automobiles while restricting rare earth exports, escalating trade war concerns. Beijing also blacklisted PVH Corp (NYSE:PVH) and Illumina (NASDAQ:ILMN) and launched an antitrust probe into Alphabet (NASDAQ:GOOG).
Wall Street remains cautious about Fed rate cuts, with Morgan Stanley now predicting only one in 2025. Meanwhile, earnings reports drove market movements. PepsiCo (NASDAQ:PEP) dropped 4.5% on weak revenue growth, while Spotify (NYSE:SPOT) soared 13.3% on strong Q4 results. Palantir (NASDAQ:PLTR) surged 24% on AI-driven revenue forecasts. Estee Lauder (NYSE:EL) fell 16% due to weak Asian retail sales, and Merck (NYSE:MRK) slipped 9% after pausing Gardasil shipments to China.
All eyes are on Alphabet’s post-market earnings, with investors eager for AI spending updates amid competition from China's DeepSeek.
Oil prices dipped as trade tensions threatened economic growth. WTI crude fell 0.49% to $72.80 per barrel. Despite global concerns, OPEC+ upheld production plans, keeping output cuts in place until April.
Markets remain volatile as earnings and economic policies shape investor sentiment.
