South Korea GDP Surges on Chip and AI Boom 
Hungary Industrial Output Beats Forecasts With 4.7% July Growth 
China Inflation Accelerates in August as CPI, PPI Rise 
Japan, U.S. Stay Aligned on Yen as Currency Surges 
European Stocks Flat as Iran Tensions, ECB Rate Hike Loom 
China to Inject $45 Billion Into State Financial Institutions 
US Stock Futures Mixed as Fed Rate Hike Bets Rise 
Oil Prices Climb as Iran Threatens Gulf Energy Infrastructure 
Japanese Yen Nears Seven-Month High as Oil Approaches $100 
Japan Foreign Reserves Plunge $79.6 Billion After Record Yen Intervention 
China Boosts Gold Reserves by 650,000 Ounces as Prices Rally 
Asian Currencies Mixed as Yen Rallies on BOJ Bets 
Iran Threatens Gulf Energy Assets as U.S. Tensions Escalate 
Iran Plans New Gulf Restricted Zone as Hormuz Tensions Push Oil Higher 
Asian Stocks Rally as AI Optimism Fuels Chipmaker Surge 
UK House Prices Fall for First Time Since 2023 
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U.S. stock index futures edged higher Thursday evening after the S&P 500 and Nasdaq closed at record highs, driven by upbeat tech earnings and strong retail sales, signaling continued economic resilience. Hopes for Federal Reserve rate cuts also lifted sentiment, especially following comments from Fed Governor Christopher Waller supporting a 25 basis point cut. However, Waller remains among the few central bankers favoring immediate action.
S&P 500 Futures rose 0.1% to 6,350.25, Nasdaq 100 Futures gained 0.1% to 23,281.50, and Dow Jones Futures added 0.2% to 44,818.0 by 20:17 ET.
Netflix (NASDAQ:NFLX) shares dipped 2% to $1,250.15 in after-hours trading despite strong Q2 results and upgraded annual revenue guidance. Hits like Squid Game Season 2 fueled growth, but investors had anticipated a more aggressive outlook for 2025. Analyst Thomas Monteiro noted markets had priced in a sharper upward revision.
Wall Street closed sharply higher Thursday, brushing aside concerns over upcoming tariffs set to take effect August 1 under President Donald Trump. The Nasdaq rallied on robust earnings from chip giant TSMC (NYSE:TSM), which flagged ongoing AI-driven demand. U.S.-listed TSMC shares surged 3.4%, lifting broader tech and semiconductor sectors.
The S&P 500 rose 0.5% to 6,297.48, the Nasdaq Composite jumped 0.8% to 20,885.65, and the Dow gained 0.5% to 44,485.10.
Investors now brace for a major earnings wave next week. While Friday’s earnings slate includes American Express (NYSE:AXP), 3M (NYSE:MMM), and Charles Schwab (NYSE:SCHW), next week brings reports from Coca-Cola (NYSE:KO), Texas Instruments (NASDAQ:TXN), Alphabet (NASDAQ:GOOGL), and Tesla (NASDAQ:TSLA), setting the tone for Q2 earnings season.
