S&P 500 Hits Record High as Soft Inflation Data Eases Fed Rate Hike Fears 
Asian Currencies Edge Higher as Soft US Inflation Weighs on Dollar 
S&P 500 Retreats From Record High as AI Stocks Slide, Retail Sales Disappoint 
Oil Prices Fall as U.S. Crude Inventories Surge and Hormuz Tensions Persist 
US Dollar Slips as Softer PPI Data Eases Fed Rate Hike Expectations 
Wall Street Hits Record High as Softer Inflation Data Eases Fed Rate Hike Fears 
European Stocks Rise as U.S. Inflation Data Eases Fed Rate Hike Fears 
Gold Prices Rise as Weak US Retail Sales Cut Fed Rate Hike Bets 
Trump Imposes New US Tariffs on Drone Imports Over National Security Concerns 
China Automakers Accelerate Global Expansion as Domestic Car Sales Slump 
Gold Prices Retreat From Two-Month High as Softer Inflation Eases Fed Rate Hike Bets 
Strait of Hormuz Shipping Near Standstill After New Vessel Attacks 
Asian Stocks Rise as AI Chip Rally Lifts South Korea, Japan 
UK Economy Posts Surprise June Growth as World Cup and Hot Weather Lift Activity 
US Dollar Slips as Weak Retail Sales Reduce Fed Rate Hike Bets 
Asian Currencies Steady Ahead of US CPI as Oil Prices Rise 
Japan Government Backs Earlier BOJ Rate Hike as Inflation Pressures Build 
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U.S. stock index futures traded mostly flat on Wednesday evening as investors closely monitored developments surrounding a potential agreement to reopen the Strait of Hormuz while digesting mixed corporate earnings and preparing for key economic data later this week.
S&P 500 futures edged up 0.1% to 7,758.25, while Dow Jones futures gained 0.14% to 54,567. Nasdaq 100 futures slipped 0.17% to 29,564.25 after technology stocks lost momentum following a strong rally at the start of August.
Wall Street ended Wednesday on a mixed note. The Dow Jones Industrial Average reached another record high, but the S&P 500 closed 0.17% lower after retreating from earlier gains. The Nasdaq Composite underperformed, dropping 0.8% as investors sold technology shares. Chipmakers also weakened, with the Philadelphia Semiconductor Index falling 1.4%.
Market sentiment was weighed down by disappointing quarterly earnings from AMD and SpaceX, which triggered declines in both companies' shares. The pullback highlighted lingering concerns over the sustainability of high valuations across artificial intelligence and semiconductor stocks after significant volatility in recent months.
Investors are also keeping a close eye on geopolitical developments in the Middle East. Iranian officials indicated that an agreement with Oman to help restore shipping through the Strait of Hormuz is nearing completion. However, Tehran emphasized that it has not held direct talks with the United States and warned against further U.S. military action. Iran also cautioned that any agreement with Oman would not automatically guarantee security in the strategically important waterway.
Optimism surrounding the potential reopening of the Strait of Hormuz has pushed oil prices sharply lower this week while supporting broader risk appetite across global financial markets. Even so, traders remain cautious given the ongoing tensions between the United States and Iran, which have been marked by repeated military threats and diplomatic efforts since conflict escalated earlier this year.
Attention now shifts to Thursday's earnings reports from ConocoPhillips, Parker-Hannifin, Airbnb, and Warner Bros. Discovery. Investors are also awaiting Friday's U.S. nonfarm payrolls report for July, a key economic release that could influence expectations for future Federal Reserve interest rate decisions and set the tone for financial markets.
