US-Canada Tariff War Escalates With 50% Auto Duties 
Asian Stocks Rebound as Oil Prices Fall, Nvidia Earnings in Focus 
Indian Sugar Stocks Surge on Tight Supply, Festive Demand 
Asian Stocks Slip Ahead of Nvidia Earnings and US Inflation Data 
Asian Energy Stocks Slide as Iran-Oman Hormuz Talks Pressure Oil Prices 
Asian Currencies Slip as Dollar Rebounds on Iran Sanctions 
Qatar LNG Exports Plunge 96% as U.S.-Iran War Disrupts Gulf Energy Trade 
US PCE Inflation Holds at 3.7% as Fed Rate Decision Looms 
Gold Hits Three-Month High as Treasury Moves Fuel Rally 
RBA Debated Rate Hike as Inflation Risks Persist 
Oil Prices Slide on U.S.-Iran Ceasefire Reports, Hormuz Talks 
China EV Stocks Slide as Door Handle Recall Hits 4.3 Million Vehicles 
U.S. Unleashes New Iran Sanctions, Targets Oil, Crypto and Trade Networks 
Gold Prices Hover Near Three-Month High as Oil, Treasury Yields Fall 
Oil Prices Edge Higher as US-Iran Sanctions Fuel Supply Concerns 
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U.S. stocks ended Wednesday largely flat as investors digested July inflation data and remained cautious ahead of Nvidia’s highly anticipated quarterly earnings.
The S&P 500 closed unchanged at 7,677.00, while the Nasdaq Composite slipped 0.1% to 26,130.20. The Dow Jones Industrial Average fell 0.2% to finish at 53,464.59.
Federal Reserve policy remained a key focus after the Bureau of Economic Analysis reported that the core personal consumption expenditures (PCE) price index rose 0.2% month-over-month and 3.3% year-over-year in July, matching forecasts. Headline PCE increased 0.2% monthly and 3.7% annually, slightly exceeding expectations.
The data reinforced expectations that the Federal Reserve could leave interest rates unchanged in September. CME FedWatch showed the probability of no rate change rising to nearly 64%, compared with roughly 60% a day earlier.
Other economic figures pointed to continued resilience. The second estimate of U.S. second-quarter GDP growth remained at 1.5%, while durable goods orders climbed 1.1% in July, beating expectations for a 0.4% increase. Investors are now awaiting Fed Chair Kevin Warsh’s Jackson Hole speech on Friday for further clues on monetary policy.
Attention also centered on Nvidia earnings, which could determine the near-term direction of technology and AI stocks. Wall Street expects the chipmaker’s quarterly revenue to nearly double to about $92 billion. Investors will closely examine its outlook for AI demand and the transition from Blackwell chips to next-generation Vera Rubin processors.
Geopolitical risks added to market caution after Bloomberg reported that Russia could intensify attacks on Ukraine as peace negotiations stall. Oil briefly rose following the report before reversing course, with Brent crude falling about 0.8% to $86.57 per barrel.
Meanwhile, reports of potential progress toward a U.S.-Iran ceasefire and a temporary shipping route through the Strait of Hormuz helped ease some concerns over Middle East supply disruptions.
