Asian Stocks Slide as Chip Selloff Deepens Ahead of TSMC Earnings 
Asian Currencies Hold Steady as Middle East Tensions Offset Weaker US Dollar 
UBS Boosts China Tech Bets, Adds Kuaishou and Meituan to Focus List 
Dollar Slides as Softer US Inflation Dims Fed Rate Hike Expectations 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
US Stock Futures Hold Steady as Soft Inflation Data Eases Fed Rate Hike Fears 
Australia Consumer Sentiment Rises in July as Fuel Price Relief Lifts Confidence 
Gold Price Holds Near $4,000 as Middle East Tensions and Fed Rate Hike Bets Grow 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
IEA Warns China Rare Earth Export Curbs Could Threaten $6.5 Trillion in Global Production 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
Gold Prices Slip as Oil Rally Fuels Inflation Fears, Strengthens Dollar 
ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
Port of Los Angeles Posts Record June Cargo Volume as Importers Rush Ahead of U.S. Tariffs 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
Oil Prices Rise as U.S. Strikes on Iran Raise Strait of Hormuz Supply Fears 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
U.S. stock index futures stabilized on Thursday evening after a strong rebound in technology stocks helped Wall Street snap a two-day losing streak. The recovery was driven largely by blockbuster earnings from Taiwan Semiconductor Manufacturing Company (TSMC), along with upbeat results from major U.S. banks such as Morgan Stanley and Goldman Sachs. However, broader market gains remained capped as investors continued to monitor rising geopolitical tensions involving Iran, which have recently weighed on global risk sentiment.
By 18:35 ET, S&P 500 futures edged up 0.1% to 6,988.50 points, while Nasdaq 100 futures also gained 0.1% to 25,727.0 points. Dow Jones futures traded slightly higher at 49,670.0 points. The modest uptick reflected cautious optimism as investors balanced strong corporate earnings against ongoing macro and geopolitical risks.
Technology and semiconductor stocks led the advance after TSMC, the world’s largest contract chipmaker, reported a record-high profit for the fourth quarter. The company also reinforced confidence in the artificial intelligence-driven demand outlook, positioning itself as a key beneficiary of the global AI infrastructure buildout. TSMC’s U.S.-listed shares jumped 4.4%, lifting sentiment across the chip sector. NVIDIA, a major TSMC customer, climbed 2.2%, while AMD added nearly 2%. TSMC’s CEO highlighted strong customer demand and signaled a sharp increase in capital expenditure planned for 2026 to meet long-term growth needs.
The positive momentum in semiconductors spilled over into broader tech stocks, although gains were tempered by some profit-taking after a strong start to January. Meanwhile, Wall Street also drew support from the banking sector. Goldman Sachs and Morgan Stanley surged 4.6% and 5.8%, respectively, after reporting robust December-quarter earnings, helping offset earlier mixed results from other banks.
The S&P 500 rose nearly 0.3% on Thursday, the Nasdaq Composite gained 0.25%, and the Dow Jones Industrial Average outperformed with a 0.6% rise, led by financial stocks. With the fourth-quarter earnings season accelerating next week and key reports from companies like Netflix, Johnson & Johnson, and Intel ahead, investors remain focused on corporate fundamentals amid a complex global backdrop.
