US Stock Futures Hold Steady as Soft Inflation Data Eases Fed Rate Hike Fears 
Dollar Slides as Softer US Inflation Dims Fed Rate Hike Expectations 
Malaysia Q2 Economy Grows 5.8%, Beating Forecasts on Strong Tech Exports and Domestic Demand 
AI Chip Stocks Face Valuation Pressure as Investors Shift Toward Big Tech and Software 
ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
Japan Core Inflation Seen Rising in June, Strengthening BOJ Rate Hike Outlook 
U.S. Imposes 25% Tariff on Select Brazilian Imports After Section 301 Trade Investigation 
IEA Warns China Rare Earth Export Curbs Could Threaten $6.5 Trillion in Global Production 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
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 
Brazil Weighs IP Curbs, Patent Suspensions After New U.S. Tariffs 
Port of Los Angeles Posts Record June Cargo Volume as Importers Rush Ahead of U.S. Tariffs 
China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
The S&P 500 closed lower Thursday as investor optimism over the Federal Reserve’s outlook for two rate cuts in 2025 faded. The Dow Jones Industrial Average dipped 11 points (0.03%), while the S&P 500 and NASDAQ Composite each fell 0.3%. Despite a strong rally Wednesday, uncertainty over Trump’s tariffs and economic slowdown fears kept all three indexes near six-month lows.
Labor market data showed resilience as initial jobless claims inched up to 223,000 from a revised 221,000, slightly below economists' forecast of 224,000. The Fed held interest rates steady at 4.25%-4.5% for a second straight meeting, reaffirming its plan for two cuts by year-end. However, it raised its 2025 inflation forecast to 2.8%, exceeding the 2% target, while trimming its GDP outlook. Fed Chair Jerome Powell cautioned that Trump’s trade policies could impact inflation and growth.
Apple (NASDAQ:AAPL) saw a 0.5% decline amid reports that CEO Tim Cook is revamping its AI strategy, tapping Vision Pro creator Mike Rockwell to lead Siri improvements. Tesla (NASDAQ:TSLA) ended flat after recalling nearly all Cybertrucks in the U.S. due to a defect that could cause exterior panels to detach. Microchip Technology (NASDAQ:MCHP) dropped 6.5% following plans to sell $1.35 billion in convertible stock to reduce debt.
Earnings reports are in focus, with FedEx (NYSE:FDX), Micron Technology (NASDAQ:MU), and Nike (NYSE:NKE) set to release results. Five Below (NASDAQ:FIVE) rose 0.6% on strong Q4 earnings, while Darden Restaurants (NYSE:DRI) surged over 5% after posting better-than-expected fiscal Q3 results.
