Iran-U.S. Nuclear Talks Remain Unresolved as Strait of Hormuz Risks Keep Markets on Edge 
European EV Sales Surge in April 2026 as Tesla and Chinese Automakers Gain Ground 
Asian Currencies Steady as U.S.-Iran Ceasefire Extension Hopes Weigh on Dollar 
S&P 500, Nasdaq Hit Record Highs as Iran Ceasefire Talks and AI Rally Boost Markets 
Oil Prices Jump After New U.S. Strikes on Iran Raise Supply Concerns 
US Dollar Slips as Markets Weigh Potential US-Iran Peace Deal and Oil Price Outlook 
Asian Stocks Rally as AI Boom and Iran Ceasefire Progress Lift Market Sentiment 
New World Screwworm Found Near U.S. Border Raises Threat to Cattle Industry and Beef Prices 
Gold Prices Hold Near Record Levels as Inflation Concerns Offset Middle East Ceasefire Hopes 
U.S. Sanctions Iran’s Strait of Hormuz Authority as Global Oil Markets Face Turmoil 
Canada and Germany Advance Major LNG Supply Partnership 
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 
Oil Prices Set for Sharp Weekly Losses as U.S.-Iran Ceasefire Hopes Ease Supply Concerns 
Tokyo Inflation Cools in May, Supporting BOJ’s Cautious Rate Hike Path 
Asian Markets Slide as New U.S. Strikes on Iran Spark Investor Caution 
South Korea Central Bank Holds Interest Rates Steady Amid Inflation Concerns 
U.S. stock markets closed mixed Tuesday as the Nasdaq and S&P 500 slipped due to a sharp sell-off in overbought large-cap tech stocks, while the Dow Jones ended higher on gains in cyclical sectors. The Nasdaq dropped 0.82% to 20,202.89 and the S&P 500 edged down 0.11% to 6,198.01. In contrast, the Dow surged 0.91%, rising 400.17 points to 44,494.94.
Weakness in tech stocks, particularly among megacaps tracked by the NYFANG index—which fell 1.8%—weighed on overall sentiment. Mizuho’s Farz Azarm noted that recent extreme bullishness in tech led to a “massive unwind” of gains.
Low liquidity contributed to volatility, but investor optimism was buoyed by President Trump’s statement that he would not extend the July 9 deadline for global trade negotiations. Meanwhile, the Senate’s approval of Trump’s sweeping tax package sparked debate over its stimulative impact versus its $3.3 trillion cost.
Tesla shares tumbled 5.4% following renewed tensions between CEO Elon Musk and Trump, who threatened to withdraw federal subsidies from Musk’s companies. Despite the tech downturn, the Dow was lifted by economically sensitive stocks, with the Dow Transportation index jumping 2.9%, its strongest single-day rise since May.
Economic data also showed resilience. May job openings rose unexpectedly, while the ISM manufacturing PMI ticked up to 49.0. These indicators, along with Powell’s cautious tone on rate cuts, reinforced expectations for the Fed to hold steady near-term.
Money markets now price in a 21.2% chance of a July rate cut, with 64 basis points projected for 2025. Meanwhile, Macau’s jump in gambling revenue boosted shares of U.S. casino operators, with Wynn, MGM, and Las Vegas Sands each climbing over 7%.
