Asian Stocks Mixed as AI Chip Rally Meets Oil Surge 
Asian Currencies Mixed as Yen Rallies on BOJ Bets 
Iran Threatens Gulf Energy Assets as U.S. Tensions Escalate 
China Exports Surge 25% in August as Trade Surplus Hits $119 Billion 
Oil Prices Climb as Iran Threatens Gulf Energy Infrastructure 
Hungary Industrial Output Beats Forecasts With 4.7% July Growth 
Oil Prices Rally as Brent Nears $100 on U.S.-Iran Escalation 
Brent Oil Tops $100 as Middle East Conflict Threatens Supply 
Japan GDP Growth Beats Forecast, Boosting BOJ Rate Hike Bets 
UK House Prices Fall for First Time Since 2023 
South Korea GDP Surges on Chip and AI Boom 
Japan, U.S. Stay Aligned on Yen as Currency Surges 
US Stock Futures Mixed as Fed Rate Hike Bets Rise 
Asian Stocks Mixed as Korean Chipmakers Rally 
China to Inject $45 Billion Into State Financial Institutions 
Iraq Seeks 6 Million Bpd OPEC+ Oil Quota 
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U.S. stocks ended higher on Friday after Federal Reserve Chair Jerome Powell reassured markets that the economy remains strong. However, lingering trade policy uncertainty led to Wall Street’s biggest weekly decline in months.
Powell signaled that the Fed won’t rush to cut interest rates, citing economic stability but also expressing concerns over President Donald Trump’s tariff policies. Market volatility surged throughout the week as investors reacted to trade tensions involving Canada, Mexico, and China.
The S&P 500 suffered its worst weekly loss since September, declining 3.1%, while the Nasdaq fell 3.45% and the Dow dropped 2.37%. The Russell 2000 Small Cap index slid 3.86%. The Nasdaq also confirmed a 10% drop from its December high, marking a technical correction.
Stocks initially dipped on Friday but rebounded following Powell’s remarks. The Dow gained 222.64 points (0.52%) to close at 42,801.72, the S&P 500 added 31.68 points (0.55%) to 5,770.20, and the Nasdaq rose 126.97 points (0.70%) to 18,196.22.
Economic data showed stronger-than-expected job growth in February, though unemployment ticked up to 4.1%, raising concerns about slowing consumer spending. Goldman Sachs and Morgan Stanley revised down their economic growth forecasts, citing weaker consumer activity.
Trump’s temporary four-week tariff reprieve for Canada and Mexico did little to ease market jitters, as new trade barriers with China loom. Hewlett Packard Enterprise (HPE) tumbled 12% due to tariff-related earnings pressure, while Costco (COST) dropped 6% after missing profit expectations. Broadcom (AVGO) surged 8.6% on strong AI-related demand forecasts.
Trading volume hit 16.92 billion shares, exceeding the 20-day average. Declining stocks outnumbered gainers, with the Nasdaq posting 159 new lows versus 28 highs.
