UBS Boosts China Tech Bets, Adds Kuaishou and Meituan to Focus List 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
Port of Los Angeles Posts Record June Cargo Volume as Importers Rush Ahead of U.S. Tariffs 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
Gold Price Holds Near $4,000 as Middle East Tensions and Fed Rate Hike Bets Grow 
Singapore GDP Grows 5.7% in Q2 2026 as AI-Driven Manufacturing Boosts Economy 
Australian Business Conditions Hold Steady as Easing Cost Pressures Face New Oil Price Risks 
Oil Prices Climb as Trump Escalates Iran Pressure, Strait of Hormuz Risks Grow 
Oil Prices Surge as U.S.-Iran Conflict Escalates and Strait of Hormuz Risks Grow 
South Korea Raises Interest Rates to 2.75% as Inflation and Weak Won Drive Tightening 
European Stocks Slip as Middle East Tensions and Hormuz Threat Rattle Markets 
Oil Prices Rise as U.S. Strikes on Iran Raise Strait of Hormuz Supply Fears 
US Stock Futures Hold Steady as Soft Inflation Data Eases Fed Rate Hike Fears 
ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
South Korea’s KOSPI Triggers Trading Curb as AI Chip Stock Selloff Deepens 
Asian Stocks Rally as Cooling U.S. Inflation Boosts Fed Rate Cut Hopes 
Wall Street ended Thursday’s session in negative territory as losses in private equity firms and weakness in major blue-chip stocks like Apple and Walmart offset earnings-driven gains in industrial shares. Investor sentiment remained cautious amid concerns over credit quality, artificial intelligence valuations, and uncertainty surrounding Federal Reserve interest rate policy.
Private equity stocks led the decline after Blue Owl Capital announced it would sell $1.4 billion in assets and suspend redemptions in one of its funds to manage debt and return capital. The move intensified worries about lenders’ exposure to software companies and broader credit risks. Blue Owl shares plunged 6%, while Apollo Global Management, Ares Management, KKR & Co, and Carlyle Group fell between 1.9% and 5.2%.
Apple slipped 1.4%, exerting the biggest drag on the S&P 500, while Walmart also dropped 1.4%. The retailer’s new CEO, John Furner, issued a conservative fiscal 2027 forecast despite announcing a $30 billion share buyback program. AI-related technology stocks continued to face volatility as investors questioned whether heavy artificial intelligence investments are translating into meaningful revenue and profit growth. Market participants are increasingly evaluating which industries, from software to logistics, could face disruption from rapidly evolving AI tools.
Despite broader weakness, Deere & Co surged 11.6% after beating first-quarter earnings estimates and raising its annual profit forecast. Omnicom climbed 15% on strong fourth-quarter revenue results, while Carvana fell nearly 8% following weaker-than-expected earnings. EPAM Systems tumbled 17% after issuing cautious guidance.
The S&P 500 declined 0.28% to 6,861.89, the Nasdaq Composite fell 0.31% to 22,682.73, and the Dow Jones Industrial Average dropped 0.54% to 49,395.16. Energy stocks gained 0.6% as oil prices rose amid escalating U.S.-Iran tensions, while financials slipped 0.9%.
Investors are closely watching economic data, including weekly jobless claims and the upcoming Personal Consumption Expenditures report, the Federal Reserve’s preferred inflation gauge. According to CME’s FedWatch Tool, markets are pricing in a 50% probability of a rate cut by June. Trading volume remained light, with declining stocks outpacing advancers across major indexes.
