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 
Australia Consumer Sentiment Rises in July as Fuel Price Relief Lifts Confidence 
Asian Currencies Hold Steady as Middle East Tensions Offset Weaker US Dollar 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
Oil Prices Surge as U.S.-Iran Conflict Escalates and Strait of Hormuz Risks Grow 
US Stock Futures Hold Steady as Soft Inflation Data Eases Fed Rate Hike Fears 
Dollar Holds Steady Ahead of U.S. CPI as Oil Surge, Middle East Tensions Keep Markets on Edge 
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 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
South Korea Raises Interest Rates to 2.75% as Inflation and Weak Won Drive Tightening 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
Goldman Sees Foreign Investors Driving India Stock Market Recovery 
U.S. Imposes 25% Tariff on Select Brazilian Imports After Section 301 Trade Investigation 
Asian Stocks Slide as Oil Surge, U.S.-Iran Tensions and Fed Rate Bets Weigh on Markets 
ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
Wall Street’s three major indexes closed at record highs on Thursday, driven largely by strength in the technology sector, even as investors weighed weak labor market signals during the ongoing U.S. government shutdown.
The Dow Jones Industrial Average added 78.62 points, or 0.17%, closing at 46,519.72. The S&P 500 edged up 4.15 points, or 0.06%, to 6,715.35, while the Nasdaq Composite advanced 88.89 points, or 0.39%, to 22,844.05. The Nasdaq was the day’s top gainer, supported by heavyweight technology stocks including Nvidia, Apple, and Broadcom. Both the Dow and the S&P 500 notched consecutive record closes, while the Nasdaq narrowly missed one after hitting an intraday high.
Investor focus turned to private labor market reports, as official government data remained unavailable due to the shutdown. Challenger, Gray & Christmas reported fewer layoffs in September, but noted that 2024 hiring plans are the weakest since 2009. This followed a softer-than-expected ADP employment report a day earlier, intensifying speculation about the Federal Reserve’s next moves. Markets are now widely pricing in two additional rate cuts this year, including one expected in late October.
Sector performance highlighted the tech industry’s 0.5% gain, with semiconductor stocks jumping 1.9% to reach a record closing high. Materials advanced 1%, while energy lagged, dropping 1%. Consumer discretionary was the biggest drag, as Tesla shares tumbled 5%, their steepest fall since July, despite strong quarterly deliveries. Analysts cited risks from the expiration of the $7,500 federal EV tax credit.
Other notable moves included sharp declines in Equifax (–8.5%) and TransUnion (–10.6%) after FICO launched a new credit score program that bypasses the bureaus, boosting its own shares nearly 18%. Occidental Petroleum fell 7.3% after announcing a $9.7 billion sale of its petrochemical unit to Berkshire Hathaway.
Despite shutdown worries, market breadth was positive, with advancing stocks outpacing decliners on both the NYSE and Nasdaq. Trading volume remained in line with the 20-day average, signaling steady investor confidence even in a cautious environment.
