Canada Faces 50% U.S. Tariffs as Trade Tensions Threaten USMCA Talks 
Yen Edges Higher as Weak US Data Dampens Fed Rate Hike Expectations 
Oil Prices Steady as Strait of Hormuz Traffic Slows Amid US-Iran Conflict 
Oil Prices Rise as U.S.-Iran Tensions Grip Strait of Hormuz 
US Dollar Slips as Soft Economic Data Eases Fed Rate Hike Expectations 
European Stocks Edge Higher as Fed Rate Pause Bets Rise 
Colombia Earthquake Losses Estimated at $9.58 Billion as Reconstruction Challenge Mounts 
Oil Prices Rise as Iran-U.S. Tensions Threaten Strait of Hormuz Supply 
US Dollar Holds Steady as Fed Rate Bets and Iran Tensions Drive Markets 
Wall Street Slides as Treasury Yields Surge to 19-Year High 
Gold Prices Slide as Treasury Yields Surge, Fed Minutes in Focus 
Asian Stocks Steady as Iran War Keeps Oil Prices and Inflation Risks Elevated 
Malaysia Inflation Eases to 1.8% in July, Below Forecast 
US Dollar Hovers Near Multi-Month Lows as Fed Rate Hike Bets Ease 
Gold Prices Rise as Weak US Data and Hormuz Risks Boost Safe-Haven Demand 
European Stocks Slide as Iran War Escalation Sends Oil Higher 
BSP Sees Philippine Inflation Easing, Keeps Policy Options Open 
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Asian markets surged Thursday as positive earnings and easing trade tensions boosted risk sentiment. Japan’s Topix index reached a record high, tracking Wall Street’s gains after Alphabet (NASDAQ: GOOGL) beat earnings estimates, sparking optimism for the “Magnificent Seven” tech results driving U.S. markets.
The rally followed a U.S.-Japan trade pact that fueled speculation of more agreements to mitigate tariffs. The United States recently secured trade deals with the Philippines and Indonesia, while a U.S.-EU agreement imposing 15% tariffs on select European imports and exempting others is reportedly nearing completion. Additionally, U.S. and Chinese officials are set to meet in Stockholm next week to discuss trade.
Second-quarter earnings season in the U.S. is underway, with 23% of S&P 500 companies reporting so far; 85% have exceeded Wall Street forecasts, according to LSEG data. Alphabet highlighted soaring demand for its cloud services and announced increased capital spending, while Tesla (NASDAQ: TSLA) reported its steepest sales decline in over a decade, missing profit expectations.
MSCI’s Asia-Pacific index outside Japan rose 0.3%, while Japan’s Topix advanced 1.4%. The Australian dollar, viewed as a risk proxy, climbed to $0.66, its highest level since November 2024. The U.S. dollar slipped 0.1% to 146.38 yen.
Commodities also gained: U.S. crude rose 0.4% to $65.5 per barrel, and spot gold edged up 0.1% to $3,390.84 an ounce. European futures mirrored the bullish sentiment, with Euro Stoxx 50 and German DAX futures up 1.3%, while U.S. S&P 500 and Nasdaq futures added 0.13% and 0.4%, respectively, signaling continued global market momentum.
