China Expands Influence in Global Gold Market 
ECB Set for September Rate Hike as Energy Prices Fuel Inflation 
Iran Plans New Gulf Restricted Zone as Hormuz Tensions Push Oil Higher 
China Boosts Gold Reserves by 650,000 Ounces as Prices Rally 
Gold Holds Near $4,400 as Fed Hike Bets Rise 
Asian Stocks Rally as AI Optimism Fuels Chipmaker Surge 
Japan Foreign Reserves Plunge $79.6 Billion After Record Yen Intervention 
Asian Currencies Mixed as Yen Rallies on BOJ Bets 
Oil Prices Rise as Hormuz Tensions Threaten Supply 
US Stock Futures Mixed as Fed Rate Hike Bets Rise 
China to Inject $45 Billion Into State Financial Institutions 
China Exports Surge 25% in August as Trade Surplus Hits $119 Billion 
Asian Stocks Mixed as Korean Chipmakers Rally 
Oil Prices Climb as Iran Threatens Gulf Energy Infrastructure 
Hungary Industrial Output Beats Forecasts With 4.7% July Growth 
Canada Retaliatory Tariffs on U.S. Goods Take Effect 
Iran Vows Tougher Response as U.S. Sanctions Squeeze Economy 
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U.S. stocks closed sharply higher on Wednesday after President Donald Trump signaled a major easing of trade tensions with Europe, lifting investor sentiment and pushing major Wall Street indexes firmly into positive territory. The Dow Jones Industrial Average rose 588 points, or 1.2%, while the S&P 500 and Nasdaq Composite each gained 1.2% by the 4:00 p.m. ET close.
Markets reacted positively after Trump said he would not impose new tariffs on European nations following the establishment of a framework for a future deal on Greenland. Speaking from the World Economic Forum in Davos, Switzerland, Trump said the agreement came after a meeting with NATO Secretary General Mark Rutte and would address U.S. strategic interests in Greenland and the broader Arctic region.
According to Trump, the framework includes U.S. involvement in Greenland’s mineral rights and participation in the “Golden Dome,” a layered missile defense system for the United States. The announcement reduced fears of a renewed trade conflict with Europe, prompting a rally in equities and a sharp decline in U.S. Treasury yields.
In corporate news, Netflix shares slid after the streaming giant reported better-than-expected quarterly earnings but issued weaker first-quarter guidance. The company cited declining viewership for non-branded licensed content, signaling softer demand outside its core original programming. The update followed reports that Netflix had improved its $72 billion bid for Warner Bros Discovery’s studios and streaming assets as competition with Paramount Skydance intensifies.
United Airlines stock climbed after the carrier beat profit expectations and delivered a strong outlook, supported by robust demand from corporate and higher-income travelers. Halliburton and Travelers also posted gains after exceeding earnings estimates, while Kraft Heinz shares fell on speculation that Berkshire Hathaway may sell its long-held stake. Johnson & Johnson edged lower despite issuing upbeat 2026 guidance, citing expected costs from a U.S. drug pricing agreement.
Investors are now looking ahead to earnings from Procter & Gamble, GE Aerospace, Intel, Abbott Laboratories, and Intuitive Surgical, which are set to report next, potentially adding further momentum to U.S. stock markets.
