Nikkei Plunges 5% as AI Stock Selloff Spreads Across Asia 
Port of Los Angeles Posts Record June Cargo Volume as Importers Rush Ahead of U.S. Tariffs 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
Gold Prices Head for Biggest Weekly Loss Since June as Fed Rate Outlook Weighs 
AI Chip Stocks Face Valuation Pressure as Investors Shift Toward Big Tech and Software 
Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
Asian Stocks Slide as Nikkei Leads Losses on Tech Selloff and Rising U.S.-Iran Tensions 
Oil Prices Climb as Trump Escalates Iran Pressure, Strait of Hormuz Risks Grow 
UBS Boosts China Tech Bets, Adds Kuaishou and Meituan to Focus List 
Malaysia Q2 Economy Grows 5.8%, Beating Forecasts on Strong Tech Exports and Domestic Demand 
Gold Prices Slip as Oil Rally Fuels Inflation Fears, Strengthens Dollar 
South Korea Raises Interest Rates to 2.75% as Inflation and Weak Won Drive Tightening 
IEA Warns China Rare Earth Export Curbs Could Threaten $6.5 Trillion in Global Production 
ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
U.S. Imposes 25% Tariff on Select Brazilian Imports After Section 301 Trade Investigation 
U.S. stocks ended higher Friday, securing a second consecutive week of gains as strong jobs data and signs of a potential thaw in U.S.-China trade tensions lifted investor sentiment. The Dow Jones rose 564.47 points (1.39%) to 41,317.43, the S&P 500 added 82.54 points (1.47%) to 5,686.68, and the Nasdaq gained 266.99 points (1.51%) to 17,977.73.
April’s U.S. payrolls report showed 177,000 jobs added, exceeding forecasts and keeping unemployment steady at 4.2%. Despite earlier concerns stemming from a GDP contraction—triggered by a surge in tariff-related imports—the labor data signaled resilience. Strategists noted the slowdown in job growth was milder than expected post-tariff announcements.
Markets also reacted positively to news that Beijing is considering Washington’s offer to reopen trade talks after President Trump’s imposition of 145% tariffs on Chinese goods. While the trade war remains unresolved, the partial rollback of tariffs helped U.S. indexes rebound. The S&P 500 is now up 0.3% since Trump’s April 2 "Liberation Day" tariffs announcement, and both the S&P and Dow marked their longest winning streaks since 2004 and 2023, respectively.
Big tech delivered mixed performances. Apple fell 4% after cutting its buyback program and warning of $900 million in added costs from tariffs. Meta jumped 4.3%, Nvidia rose 2.6%, while Amazon dipped 0.1%. In energy, Chevron gained 1.6% and ExxonMobil edged up 0.4% on solid earnings.
Block plunged 20% on weak guidance, and Take-Two Interactive dropped 7% after delaying "Grand Theft Auto VI" to 2026. Advancers outpaced decliners by nearly 4-to-1 on the NYSE, reflecting broad market optimism. Trading volume was 16 billion shares, below the recent daily average.
