Gold Holds Near $4,400 as Fed Hike Bets Rise 
US Stock Futures Mixed as Strong Jobs Data Boosts Fed Rate Hike Bets 
Chinese AI Stocks Rally After OpenAI Launches GPT-6 Astra 
Singapore Straits Times Index Hits Record High as Banks, Property Stocks Rally 
Iran’s Hormuz Oil Pressure Fades as Gulf Crude Flows Continue 
Asian Stocks Rally as Fed Rate Hike Fears Ease 
China Expands Influence in Global Gold Market 
Jefferies Names 6 Top India Stock Picks Across Key Sectors 
Oil Prices Rise as Hormuz Tensions Threaten Supply 
Asian Currencies Rise as Yen Surges on Fed Rate Outlook 
JPMorgan Sees ECB Raising Rates to 2.75% in December 
UK House Prices Fall for First Time Since 2023 
Turkey Targets 5% Economic Growth by 2029 
Asian Stocks Rally as AI Optimism Fuels Chipmaker Surge 
Iran Vows Tougher Response as U.S. Sanctions Squeeze Economy 
Uranium Prices Could Top $100 as Nuclear Demand Grows 
U.S. Payrolls Seen Rebounding in August as Labor Market Stays Soft 
Add as a preferred source on Google
Wall Street closed at a record high Thursday as softer U.S. producer inflation data reduced expectations for a Federal Reserve rate hike, boosting technology stocks and pushing Treasury yields lower.
The S&P 500 gained 0.7% to finish at 7,799.57 after briefly surpassing 7,800 and reaching an intraday record of 7,816.79. The Nasdaq Composite climbed 0.8% to 26,803.03, while the Dow Jones Industrial Average edged 0.1% higher to 53,840.14.
Investor sentiment improved after July’s producer price index (PPI) came in weaker than expected. Headline PPI was unchanged month over month and rose 4.7% annually, down from June’s 5.5% increase. Core PPI advanced 0.2% monthly and 4.2% year over year.
Combined with moderating consumer inflation data, the report strengthened expectations that the Fed could leave interest rates unchanged in September. CME FedWatch data showed the probability of a September rate hike falling to roughly 34%, while the chance of rates remaining steady increased to nearly 66%.
Treasury yields declined following the inflation report, with the 10-year yield dropping 5.6 basis points to 4.636% and the two-year yield falling 5.4 basis points to 4.145%. Rate-sensitive technology shares benefited, helping the S&P 500 technology sector gain 1%.
Cisco Systems was a notable exception, tumbling more than 8% despite reporting strong quarterly results and robust demand for artificial intelligence infrastructure. The decline limited gains in the Dow after Cisco shares had surged more than 60% this year ahead of earnings.
Oil prices also retreated after six consecutive sessions of gains. Brent crude fell 2.3% to $86.96 per barrel as traders assessed tensions surrounding the Strait of Hormuz alongside weaker global oil demand forecasts.
The U.S. and Iran remain divided over control and commercial access through the strategic waterway, while disruptions linked to Houthi attacks in the Bab el-Mandeb Strait continue to fuel supply concerns. Meanwhile, reduced demand projections from the International Energy Agency and OPEC added downward pressure on crude prices.
