Gold Prices Edge Higher as Markets Await Key U.S. PCE Inflation Data 
Oil Prices Hold Steady as Ukraine Tensions and Fed Cut Expectations Support Market 
Japan’s Nikkei Drops as Markets Await Key U.S. Inflation Data 
RBI Cuts Repo Rate to 5.25% as Inflation Cools and Growth Outlook Strengthens 
Europe Confronts Rising Competitive Pressure as China Accelerates Export-Led Growth 
Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
Asian Markets Mixed as RBI Cuts Rates and BOJ Signals Possible Hike 
European Oil & Gas Stocks Face 2026 With Cautious Outlook Amid Valuation Pressure 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
BOJ Faces Pressure for Clarity, but Neutral Rate Estimates Likely to Stay Vague 
Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
Germany’s Economic Recovery Slows as Trade Tensions and Rising Costs Weigh on Growth 
Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
Wall Street closed sharply lower Friday following Iran’s missile strike on Israel, a retaliatory move after Israeli attacks on Iran’s nuclear sites. The conflict has triggered fears of a broader Middle East war, shaking global investor confidence.
Explosions rocked Tel Aviv and Jerusalem as Israel’s military confirmed missile launches from Iran. The geopolitical tension sent oil prices soaring nearly 7%, raising concerns about disruptions in Middle East crude supply. Analysts warned that if the Strait of Hormuz is affected, global markets could face serious turmoil.
Energy stocks surged in response, with ExxonMobil (NYSE:XOM) up 2.2% and Diamondback Energy (NASDAQ:FANG) climbing 3.7%. In contrast, airline shares tumbled on rising fuel cost fears—Delta Air Lines (NYSE:DAL) dropped 3.8%, United Airlines fell 4.4%, and American Airlines (NASDAQ:AAL) sank 4.9%.
Defense stocks gained as investors looked to military suppliers. Lockheed Martin (NYSE:LMT), RTX, and Northrop Grumman (NYSE:NOC) all rose over 3%.
The S&P 500 declined 1.13% to 5,976.97, the Nasdaq lost 1.30% to 19,406.83, and the Dow fell 1.79% to 42,197.79. Financial and tech sectors led the decline, with financials down 2.06% and tech off 1.5%. For the week, the S&P 500 slipped 0.4%, Nasdaq 0.6%, and Dow 1.3%.
Adobe (NASDAQ:ADBE) dropped 5.3% over AI adoption concerns, while Oracle (NYSE:ORCL) surged 7.7% on strong AI-driven forecasts. Nvidia (NASDAQ:NVDA) and Apple (NASDAQ:AAPL) dipped 2.1% and 1.4%, respectively. Visa (NYSE:V) and Mastercard (NYSE:MA) both fell over 4% amid reports that retailers are exploring crypto alternatives.
Despite rate-hike concerns easing, the market remains volatile, with declining S&P 500 stocks outnumbering gainers by over 6 to 1.
