China Trade Surplus Hits $125.6 Billion as June Exports, Imports Smash Forecasts 
Japanese Yen Holds Steady as Intervention Hopes Grow Ahead of U.S. CPI Data 
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 
Dollar Slides as Softer US Inflation Dims Fed Rate Hike Expectations 
Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
Dollar Holds Steady Ahead of U.S. CPI as Oil Surge, Middle East Tensions Keep Markets on Edge 
South Korea Raises Interest Rates to 2.75% as Inflation and Weak Won Drive Tightening 
Oil Prices Climb as Trump Escalates Iran Pressure, Strait of Hormuz Risks Grow 
Gold Price Holds Near $4,000 as Middle East Tensions and Fed Rate Hike Bets Grow 
Asian Stocks Slide as Chip Selloff Deepens Ahead of TSMC Earnings 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
US Stock Futures Hold Steady as Soft Inflation Data Eases Fed Rate Hike Fears 
Asian Stocks Slide as Oil Surge, U.S.-Iran Tensions and Fed Rate Bets Weigh on Markets 
Oil Prices Rise as U.S. Strikes on Iran Raise Strait of Hormuz Supply Fears 
Gold Prices Slip as Oil Rally Fuels Inflation Fears, Strengthens Dollar 
U.S. stock markets ended mostly lower on Thursday as investors reacted cautiously to a fresh round of corporate earnings and growing concerns over whether massive artificial intelligence investments will generate meaningful returns for mega-cap technology companies. While the major indexes recovered some of their intraday losses, weakness in the technology sector ultimately weighed on overall market performance.
The S&P 500 and the Nasdaq Composite both closed in the red, pressured by sharp declines in leading software and cloud stocks. Microsoft emerged as the biggest drag on the S&P 500, with shares plunging 10% after its cloud revenue growth failed to meet expectations. The results intensified investor worries that heavy spending tied to its OpenAI partnership may not be paying off quickly enough. Broader concerns about the profitability of AI investments rippled across the sector, sending SAP’s U.S.-listed shares down 15% after a cautious cloud outlook and pushing ServiceNow nearly 10% lower following its earnings report.
Market sentiment was further dampened by macroeconomic and geopolitical uncertainties. Investors are increasingly defensive amid questions about future Federal Reserve leadership, the timing and scale of interest rate cuts, potential political tensions involving Iran and Greenland, and the risk of a U.S. government shutdown. These factors have contributed to a “risk-off” mood, particularly for growth-oriented technology stocks.
The Dow Jones Industrial Average bucked the broader trend, inching up 0.11% to close at 49,071.56, supported by gains in industrial and financial stocks. The S&P 500 slipped 0.13% to 6,969.01, while the Nasdaq Composite fell 0.72% to 23,685.12. Technology was the worst-performing sector, declining 1.9%.
Not all mega-cap stocks struggled. Meta Platforms surged more than 10% after issuing a strong revenue forecast, despite announcing a sharp increase in capital expenditures. Apple shares were volatile in late trading after beating revenue estimates, helped by a rebound in China demand. Elsewhere, energy stocks rose alongside higher oil prices, while companies such as IBM, Caterpillar, Mastercard, and Lockheed Martin posted solid gains following upbeat earnings reports.
Overall trading volume was well above average, reflecting heightened investor activity as markets digest earnings, AI spending trends, and broader economic risks.
