US Stock Futures Steady as Investors Await Payrolls Data and Monitor Iran Tensions 
Gold Price Drops to Eight-Month Low as Fed Rate Hike Bets Weigh on Bullion. Source: Photo by Michael Steinberg via Pexels 
Canada Grants C$7 Million to Greenland Molybdenum Mine to Strengthen Critical Minerals Supply 
NATO Albania Summit Faces Uncertainty as Trump, Defense Spending Concerns Loom 
Momenta Launches Hong Kong IPO to Raise Up to $751 Million for AI and Robotaxi Expansion 
Australia Sues Amazon Over Prime Video Ads and Subscription Terms 
Apple Challenges India Antitrust Probe, Says CCI Copied Rivals’ Claims in App Store Case 
Gold Price Hits Annual Low as Fed Rate Hike Bets and Sticky Inflation Weigh on Bullion 
Asian Stocks Mixed as South Korea Slides on Profit-Taking, Japan and China Gain on Strong Factory Data 
Dollar Slips Ahead of Key U.S. Jobs Data as Fed Rate Outlook, ECB, and Iran Talks Shape Forex Markets 
Asian Currencies Stay Range-Bound as Investors Eye China Data, RBNZ Outlook and U.S.-Iran Ceasefire 
Trump Urges Gasoline Retailers to Cut Prices to $2.50 Per Gallon, Warns of Legal Action 
Wall Street Futures Rise Ahead of JOLTS Data, Nike Earnings, and U.S.-Iran Talks 
Lenovo Shares Slide as AI-Driven Memory Demand Signals Higher DRAM and NAND Prices 
Central Banks Eye Gold, Reduce Dollar Exposure as AI Adoption Accelerates: OMFIF Survey 
SoftBank Shares Slide as OpenAI IPO Delay Concerns Weigh on AI Investment Outlook 
China Sets 1.25% Overnight Reverse Repo Rate Below Market Expectations 
Toyota Motor Corp's domestic output dropped 28.5 percent to 144,204 vehicles in May from a year earlier, declining for the third straight month due to a global chip shortage and a parts supply crunch caused by Shanghai's COVID-19 lockdown.
According to a major Japanese automaker, the pace of decline was the highest since January, when domestic production plunged 32.2 percent from the prior year.
Toyota had to halt production at a few of its Japanese factories because parts were hard to get by during the lockdown.
After floods in South Africa impacted its manufacturing, Toyota reported that its overall output in May decreased 5.3 percent from a year earlier to 634,940 units, falling short of its production goal of approximately 700,000 automobiles.
Although the lockdown in Shanghai was lifted on June 1, the difficulty in obtaining parts from the Chinese metropolis is still having an impact on Toyota's manufacturing.
Rivals Nissan Motor Co. and Honda Motor Co. increased operations at their plants, which resulted in a large increase in domestic production in May compared to a year earlier.
Nissan's domestic production increased by 77.9 percent to 26,799 units as sales of its new Note compact car model increased. Honda's production increased by 57.7% to 37,285 vehicles, demonstrating a significant recovery from a year earlier when domestic manufacturing sharply declined.
Conversely, Honda's global production decreased 14.5 percent to 244,368 units as a result of the chip scarcity and Shanghai's lockdown.
Nissan's global output increased by 1.7 percent to 231,732 cars, the first increase in 11 months, despite the chip shortage, thanks to strong domestic manufacturing.
According to industry data, the total domestic production of eight major Japanese automakers—including Toyota, Nissan, and Honda—fell by 16.0 percent in May to 396,433 vehicles as a result of the worldwide components shortage.
Their global output of 1.62 million units decreased by 0.2 percent.
