Gold Holds Near $4,400 as Fed Hike Bets Rise 
China Exports Surge 25% in August as Trade Surplus Hits $119 Billion 
Oil Prices Climb as Iran Threatens Gulf Energy Infrastructure 
China Boosts Gold Reserves by 650,000 Ounces as Prices Rally 
UK House Prices Fall for First Time Since 2023 
Oil Prices Rise as Hormuz Tensions Threaten Supply 
Japan, U.S. Stay Aligned on Yen as Currency Surges 
South Korea GDP Surges on Chip and AI Boom 
Yen Rebounds as BOJ Rate Hike Bets Rise 
US Stock Futures Mixed as Strong Jobs Data Boosts Fed Rate Hike Bets 
Gold Prices Rise as Yen Rally Weakens Dollar 
European Stocks Flat as Iran Tensions, ECB Rate Hike Loom 
Asian Stocks Mixed as Korean Chipmakers Rally 
OPEC+ Expected to Hold October Oil Output Steady 
ECB Set for September Rate Hike as Energy Prices Fuel Inflation 
Canada Retaliatory Tariffs on U.S. Goods Take Effect 
US Stock Futures Mixed as Fed Rate Hike Bets Rise 
Add as a preferred source on Google
U.S. stocks ended lower on Friday, capping the worst monthly performance for Wall Street since March last year, as hotter-than-expected producer inflation data and continued weakness in technology stocks pressured investor sentiment. The S&P 500 fell 0.5% to 6,877.36, while the Nasdaq Composite dropped 0.9% to 22,668.21. The Dow Jones Industrial Average declined 1.1% to 48,977.18.
Technology shares led the downturn, with Nvidia stock sliding more than 5% despite reporting strong quarterly earnings. Investors appeared concerned about shareholder returns following a sharp rise in the company’s cash reserves, while profit-taking after a recent rally also weighed on the stock. For February, the S&P 500 lost 0.9% and the Nasdaq tumbled 3.4%, reflecting volatility driven by geopolitical tensions, trade uncertainty, and shifting views on artificial intelligence investment trends. Analysts noted growing concerns over AI-related capital expenditures and potential disruption risks in software and services.
Economic data added to market pressure. January’s Producer Price Index (PPI) rose 0.5% month-over-month and 2.9% year-over-year, exceeding expectations. Core PPI, which excludes food and energy, increased 0.8% monthly and 3.6% annually. The stronger inflation reading may delay Federal Reserve interest rate cuts, reinforcing concerns about sticky inflation. JPMorgan raised its January core PCE inflation estimate to 0.42%, suggesting the Fed could remain cautious in the coming months.
In corporate news, Netflix stock surged 14% after declining to raise its bid for Warner Bros. Discovery, while Paramount jumped nearly 21% following its improved $31-per-share offer. Dell Technologies soared 22% on record results fueled by AI server demand, and Block rallied 17% after announcing major job cuts to integrate artificial intelligence.
Meanwhile, OpenAI announced a record $110 billion funding round backed by Microsoft, SoftBank, Nvidia, and Amazon, underscoring surging AI demand. Oil prices also climbed, with Brent crude settling at $73.10 per barrel and WTI crude at $66.17, despite ongoing U.S.-Iran nuclear talks.
