Dollar Holds Steady Ahead of U.S. CPI as Oil Surge, Middle East Tensions Keep Markets on Edge 
US Stock Futures Hold Steady as Soft Inflation Data Eases Fed Rate Hike Fears 
Asian Stocks Slide as Chip Selloff Deepens Ahead of TSMC Earnings 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
U.S. Imposes 25% Tariff on Select Brazilian Imports After Section 301 Trade Investigation 
Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
UBS Boosts China Tech Bets, Adds Kuaishou and Meituan to Focus List 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
Dollar Slides as Softer US Inflation Dims Fed Rate Hike Expectations 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
Oil Prices Rise as U.S. Strikes on Iran Raise Strait of Hormuz Supply Fears 
South Korea Raises Interest Rates to 2.75% as Inflation and Weak Won Drive Tightening 
China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
Asian Stocks Slide as Oil Surge, U.S.-Iran Tensions and Fed Rate Bets Weigh on Markets 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
China Trade Surplus Hits $125.6 Billion as June Exports, Imports Smash Forecasts 
Port of Los Angeles Posts Record June Cargo Volume as Importers Rush Ahead of U.S. Tariffs 
U.S. stocks fell Thursday for the third consecutive session, with the S&P 500, Dow Jones, and NASDAQ all closing lower as stronger-than-expected economic data tempered hopes for aggressive Federal Reserve rate cuts. At the close, the Dow dropped 173 points, or 0.4%, the S&P 500 fell 0.5%, and the NASDAQ slipped 0.5%, extending a pullback from recent record highs amid concerns over valuations and Fed policy.
Investor sentiment weakened after Fed Chair Jerome Powell warned earlier this week that there is “no risk-free path” as the central bank balances inflation risks with a softening labor market. The remarks came just days after the Fed’s 25-basis-point rate cut, leaving markets uncertain about how many more reductions will follow this year.
Fresh data reinforced the picture of U.S. economic resilience. Weekly jobless claims dropped to 218,000, well below expectations, while the final reading of second-quarter GDP showed growth of 3.8%, up from earlier estimates of 3.3% and 3.0%. The strong growth data and low unemployment filings pushed Treasury yields higher, weighing heavily on technology stocks.
Fed projections last week indicated another half-point in cuts may be on the table before year-end, but several policymakers signaled fewer moves could be likely. Analysts noted that hawkish implications from the data may pressure equities, especially given that expectations of Fed easing had fueled much of the rally. Traders now await Friday’s release of the Fed’s preferred inflation gauge, the PCE price index, for further clarity.
Markets are also grappling with political risk as a potential U.S. government shutdown looms. A Senate rejection of a stopgap spending bill has left federal agencies preparing contingency plans that could trigger mass layoffs if no agreement is reached.
On the corporate front, Nvidia gained nearly 1% as investors bought into recent weakness, while Intel rose on reports it approached Apple for a potential investment. Earnings news was mixed: Stitch Fix and CarMax plunged after weak results, while Accenture beat revenue forecasts and announced an $865 million restructuring to focus on digital and AI demand.
