Oil Prices Rise as U.S. Strikes on Iran Raise Strait of Hormuz Supply Fears 
Asian Currencies Hold Steady as Middle East Tensions Offset Weaker US Dollar 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
US Stock Futures Hold Steady as Soft Inflation Data Eases Fed Rate Hike Fears 
China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
Australian Business Conditions Hold Steady as Easing Cost Pressures Face New Oil Price Risks 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
China Trade Surplus Hits $125.6 Billion as June Exports, Imports Smash Forecasts 
South Korea Raises Interest Rates to 2.75% as Inflation and Weak Won Drive Tightening 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
Oil Prices Climb as Trump Escalates Iran Pressure, Strait of Hormuz Risks Grow 
Dollar Slides as Softer US Inflation Dims Fed Rate Hike Expectations 
Gold Price Holds Near $4,000 as Middle East Tensions and Fed Rate Hike Bets Grow 
Goldman Sees Foreign Investors Driving India Stock Market Recovery 
Japanese Yen Holds Steady as Intervention Hopes Grow Ahead of U.S. CPI Data 
Asian Stocks Rally as Cooling U.S. Inflation Boosts Fed Rate Cut Hopes 
Australia Consumer Sentiment Rises in July as Fuel Price Relief Lifts Confidence 
Wall Street futures edged higher on Thursday evening after a turbulent trading day marked by deep losses across major indexes. The rebound came as markets attempted to steady themselves following a sharp reversal in Nvidia’s stock, which had initially surged on strong quarterly earnings before sentiment soured. The tech giant’s slump amplified broader concerns about lofty valuations in the artificial intelligence sector, fueling fears of a growing AI bubble.
NVIDIA Corporation (NASDAQ: NVDA) slipped another 0.2% in after-hours trading, extending the 3.1% loss seen earlier in the session. Despite reporting solid top- and bottom-line results, investors reacted negatively to rising inventory levels and management commentary that failed to ease worries surrounding AI-driven demand. Investor Michael Burry, known for forecasting the 2008 financial crisis, added pressure by arguing that true demand for AI technology is far lower than current market valuations suggest. Nvidia’s dramatic swing wiped out nearly $400 billion in market value, underscoring the heightened volatility in the tech sector.
Losses were not limited to technology stocks. Strong September payrolls data strengthened expectations that the Federal Reserve may hold off on cutting interest rates in December, weighing down multiple sectors. A resilient labor market combined with persistent inflation has reduced odds of near-term monetary easing. Fed minutes released earlier this week signaled policymakers remain divided on a potential December cut. According to CME FedWatch, the probability of a 25-basis-point cut has slipped to 31%, down from nearly 46% a week ago. Morgan Stanley analysts also withdrew their forecast for a December cut following the robust employment report.
Despite the broader market downturn, Walmart Inc. (NYSE: WMT) provided a bright spot with a 6.5% rally after posting upbeat earnings. Elsewhere, President Donald Trump’s order to lower U.S. import tariffs on select Brazilian agricultural goods lent mild support by offering potential relief for food inflation.
By 19:40 ET, S&P 500 futures rose 0.3% to 6,576.0, Nasdaq 100 futures gained 0.2% to 24,186.25, and Dow futures added 0.3% to 45,970.0.
