Gold Prices Rebound as Dollar Weakens, Fed Decision Looms 
Oil Prices Hold Near Highs as U.S.-Iran Conflict Escalates 
Iraq Seeks 6 Million Bpd OPEC+ Oil Quota 
China Buys 1 Million Tons of U.S. Soybeans Ahead of Xi Visit 
UK Food Inflation Forecast to Hit 6.4% by Mid-2027 
US Bans Canadian Alcohol, Motorcycles as Trade War Escalates 
China Inflation Accelerates in August as CPI, PPI Rise 
Asian Stocks Mixed as Korean Chipmakers Rally 
Asian Stocks Mixed as AI Chip Rally Meets Oil Surge 
Fitch Eyes Japan Budget for Fiscal Discipline 
South Korea GDP Surges on Chip and AI Boom 
Japanese Yen Nears Seven-Month High as Oil Approaches $100 
China Boosts Gold Reserves by 650,000 Ounces as Prices Rally 
Iran Threatens Gulf Energy Assets as U.S. Tensions Escalate 
Gold Prices Rise as Yen Rally Weakens Dollar 
Asian Currencies Steady as Yen Holds Firm, Oil Tops $100 
Brent Oil Tops $100 as Middle East Conflict Threatens Supply 
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U.S. Futures Gain as Middle East Tensions Subside, Tech Earnings Awaited
U.S. stock index futures edged higher on Sunday night as concerns over a significant Middle East conflict eased. Israel's weekend retaliatory strike avoided targeting Iran's nuclear and oil facilities, reducing fears of a severe escalation.
This week, attention turns to major technology earnings and key economic data to provide insights into corporate health and the broader economy.
Futures Rise Amid Calm in the Middle East
By 19:14 ET (23:14 GMT) on Sunday, S&P 500 Futures climbed 0.4% to 5,871.25 points, Nasdaq 100 Futures increased by 0.5% to 20,597.75, and Dow Jones Futures rose 0.4% to 42,468.0 points. Oil prices dropped early Monday, reflecting easing Middle East concerns and improving market sentiment.
While Iran indicated minimal damage from the weekend’s attack, it warned of potential retaliation, leaving geopolitical risks still on the radar.
Tech Earnings to Drive Market Moves
U.S. stocks were mixed last week, with the Nasdaq hitting a record intraday high as traders shifted focus to technology stocks. The upcoming earnings reports from five of the "Magnificent Seven" tech firms—Alphabet, Meta, Microsoft, Apple, and Amazon—are expected to significantly impact market direction.
These companies account for a substantial portion of market valuations, and their performance will serve as a bellwether for the broader market, especially given the heavy investments in artificial intelligence.
Key Economic Data in Focus
In addition to corporate earnings, investors will closely monitor U.S. house price data, third-quarter GDP, and the PCE price index—the Federal Reserve's favored inflation metric.
With the 2024 presidential election looming next week, markets may experience heightened volatility.
