Oil Prices Drop as Middle East Supply Recovery Eases Market Concerns 
Gold Falls Below $4,000 as Strong Dollar and Fed Rate Hike Expectations Weigh on Prices 
SpaceX Eyes Starlink Mobile Phone Service to Challenge Verizon, AT&T, and T-Mobile 
South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
Asian Markets Rally as Micron and Qualcomm AI Outlook Lifts Global Tech Stocks 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
Gold Prices Fall Below $4,000 as Strong Dollar, Fed Rate Hike Bets Weigh on Bullion 
Wall Street Ends Mixed as Micron Surges, Apple Drops After Price Hikes 
Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns 
Trump Requests $11 Billion More in Farm Aid as Rising Costs Pressure U.S. Farmers 
Oil Prices Drop as Strait of Hormuz Shipping Recovers 
Wall Street Ends Lower as AI Stocks Drag Markets, Fed Rate Outlook Shifts 
Iran Attack in Strait of Hormuz Pushes Oil Prices Higher 
BOJ Hawk Signals Faster Interest Rate Hikes Amid Inflation Risks 
White House Seeks $87.6 Billion Emergency Funding for Iran War, Farmers, and Ebola Response 
Japan Signals Preference for Low Interest Rates as BOJ Policy Debate Intensifies 
Asian markets traded mixed as investors digested falling oil prices, rising commodity stocks, and heightened geopolitical tensions tied to Venezuela, China, and broader global uncertainty. Crude oil futures extended losses after U.S. President Donald Trump said Venezuela would hand over as much as 50 million barrels of oil to be sold at market prices following the capture of the country’s leader. The news weighed heavily on energy markets, pushing U.S. crude down 1.1% to $56.48 per barrel and Brent crude 0.8% lower at $60.22 per barrel.
Despite weaker oil prices, resource and commodity-related shares found support across the region, helped by a sharp overnight rally in industrial metals. Copper surged to a record high in the previous session, while nickel jumped more than 10% on supply concerns, boosting mining stocks, particularly in Australia. The S&P/ASX 200 index rose 0.3%, benefiting from its heavy exposure to commodity producers.
Broader equity markets were more cautious. MSCI’s Asia-Pacific index outside Japan slipped 0.2%, while Japan’s Nikkei fell 0.25%. Japanese stocks were pressured after China announced a ban on exports of dual-use items to Japan, escalating tensions following comments by Prime Minister Sanae Takaichi regarding Taiwan.
Currency markets reflected a cautious tone. The U.S. dollar held near recent highs, with the dollar index steady at 98.60, supported by global geopolitical risks and anticipation of key U.S. economic data. The euro traded at $1.169, while the yen weakened slightly to 156.73 per dollar. Investors are closely watching upcoming U.S. data, including the monthly jobs report, JOLTS survey, and ADP payrolls, for clues on the timing of potential Federal Reserve interest rate cuts, with markets currently pricing in two cuts this year.
Elsewhere, spot gold slipped 0.6% to $4,469.04 an ounce, while cryptocurrencies also declined, with bitcoin down 0.8% and ether easing 0.5%. European equity futures pointed to a mixed open, and U.S. stock futures were flat after Wall Street closed at record highs, brushing aside global tensions for now.
