Asian Stocks Slide as Chip Selloff Deepens Ahead of TSMC Earnings 
Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
Gold Prices Head for Biggest Weekly Loss Since June as Fed Rate Outlook Weighs 
Oil Prices Climb as Trump Escalates Iran Pressure, Strait of Hormuz Risks Grow 
AI Chip Stocks Face Valuation Pressure as Investors Shift Toward Big Tech and Software 
China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
Asian Stocks Rally as Cooling U.S. Inflation Boosts Fed Rate Cut Hopes 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
U.S. Imposes 25% Tariff on Select Brazilian Imports After Section 301 Trade Investigation 
South Korea Raises Interest Rates to 2.75% as Inflation and Weak Won Drive Tightening 
Oil Prices Rise as U.S. Strikes on Iran Raise Strait of Hormuz Supply Fears 
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 
Japan Core Inflation Seen Rising in June, Strengthening BOJ Rate Hike Outlook 
Brazil Weighs IP Curbs, Patent Suspensions After New U.S. Tariffs 
Dollar Slides as Softer US Inflation Dims Fed Rate Hike Expectations 
Wall Street’s major indexes closed mixed on Tuesday as gains in Coca-Cola (NYSE:KO) and Apple (NASDAQ:AAPL) offset losses in Tesla (NASDAQ:TSLA). Investors assessed Federal Reserve Chair Jerome Powell’s latest comments, with the Fed in no rush to cut interest rates despite persistent inflation and a strong labor market.
Powell, speaking before the Senate Banking Committee, emphasized that inflation remains above the 2% target, suggesting rate cuts are unlikely in the near term. Meanwhile, traders anticipate at least one 25-basis-point rate cut this year, with a 44% chance of another reduction, per LSEG data.
Investor attention also turned to trade policies after President Donald Trump raised steel and aluminum tariffs, hinting at further reciprocal duties on countries imposing levies on U.S. goods. Market volatility remains high amid economic uncertainties, inflation concerns, and ongoing tariff discussions.
The S&P 500 edged up 0.03% to 6,068.50, while the Dow Jones Industrial Average gained 0.28% to 44,593.65. The Nasdaq dipped 0.36% to 19,643.86. Trading volume was above average, with 15.4 billion shares exchanged.
Coca-Cola surged 4.7% after beating Q4 revenue estimates due to higher prices and strong demand. Apple rose 2.2% following reports of an AI partnership with Alibaba (NYSE:BABA) in China. Tesla plummeted 6.3% after reports that Elon Musk's consortium bid $97 billion to acquire OpenAI’s controlling nonprofit.
Other notable movers included Phillips 66 (NYSE:PSX), up 4.7% after Elliott Investment’s $2.5 billion stake revelation, and DuPont de Nemours (NYSE:DD), which soared nearly 7% after raising its 2025 profit forecast. Ecolab (NYSE:ECL) jumped 6.2% on strong earnings guidance, while Fidelity National Information Services (NASDAQ:III) tumbled over 11% due to a weak profit outlook.
