Oil Prices Rise as U.S. Strikes on Iran Raise Strait of Hormuz Supply Fears 
Asian Stocks Slide as Chip Selloff Deepens Ahead of TSMC Earnings 
Asian Currencies Hold Steady as Middle East Tensions Offset Weaker US Dollar 
China Trade Surplus Hits $125.6 Billion as June Exports, Imports Smash Forecasts 
UBS Boosts China Tech Bets, Adds Kuaishou and Meituan to Focus List 
Australia Consumer Sentiment Rises in July as Fuel Price Relief Lifts Confidence 
Gold Prices Slip as Oil Rally Fuels Inflation Fears, Strengthens Dollar 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
Asian Stocks Rally as Cooling U.S. Inflation Boosts Fed Rate Cut Hopes 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
Gold Price Holds Near $4,000 as Middle East Tensions and Fed Rate Hike Bets Grow 
Oil Prices Climb as Trump Escalates Iran Pressure, Strait of Hormuz Risks Grow 
China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
South Korea Raises Interest Rates to 2.75% as Inflation and Weak Won Drive Tightening 
IEA Warns China Rare Earth Export Curbs Could Threaten $6.5 Trillion in Global Production 
U.S. stocks closed at record highs for a third consecutive session on Monday, lifted by technology shares. Nvidia jumped 3.9% after announcing plans to invest up to $100 billion in OpenAI and supply the AI firm with data center chips, fueling further optimism about artificial intelligence growth. Apple shares climbed 4.3% after Wedbush raised its price target on strong demand signals for the iPhone 17, while Tesla gained 1.9%.
Technology stocks drove the S&P 500 sector gains, which ended 1.7% higher. The S&P 500 has now risen 13.8% year-to-date and 3.6% in September, traditionally a weak month for markets. The Dow Jones Industrial Average added 66.27 points, or 0.14%, to 46,381.54, while the Nasdaq Composite advanced 157.50 points, or 0.70%, to 22,788.98. The S&P 500 gained 29.39 points, or 0.44%, closing at 6,693.75.
Investor sentiment was mixed as Federal Reserve officials delivered varying views on rate cuts. St. Louis Fed President Alberto Musalem and Atlanta Fed President Raphael Bostic signaled caution, stressing inflation control over additional easing. Meanwhile, Fed Governor Stephen Miran, who dissented in favor of a larger rate cut last week, warned monetary policy remains restrictive.
Market watchers noted valuations are stretched, with some investors awaiting new catalysts for further gains. Meanwhile, President Donald Trump’s newly announced visa fee hikes drew criticism from tech executives, and Kenvue shares fell 7.5% on fears of a Tylenol-autism link before rebounding 4.7% after Trump’s FDA remarks.
Traders now look ahead to key economic data, including the U.S. personal consumption expenditures (PCE) price index, a closely followed inflation gauge. Market breadth remained positive, with advancing issues outnumbering decliners on both the NYSE and Nasdaq. Trading volume reached 18.65 billion shares, above the 20-day average.
