US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
Wall Street Ends Lower as AI Stocks Drag Markets, Fed Rate Outlook Shifts 
BOJ Hawk Signals Faster Interest Rate Hikes Amid Inflation Risks 
Gold Drops Below $4,000 as Strong US Dollar and Fed Rate Hike Expectations Pressure Bullion 
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 
Gold Prices Rise Above $4,000 as Inflation Data and Weaker Dollar Boost Demand 
Wall Street Ends Mixed as Micron Surges, Apple Drops After Price Hikes 
Asian Markets Rally as Micron and Qualcomm AI Outlook Lifts Global Tech Stocks 
Oil Prices Rebound as Strait of Hormuz Tensions Return After Ship Attack Near Oman 
S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges 
Trump Requests $11 Billion More in Farm Aid as Rising Costs Pressure U.S. Farmers 
Asian Stocks Sink as Apple Price Hikes Spark AI Valuation Fears, South Korea and Japan Lead Selloff 
Australian Household Spending Rebounds Strongly in May as Travel and Dining Drive Consumer Growth 
South Korea’s KOSPI Jumps Over 5% as Samsung, SK Hynix Rally on Micron Earnings Boost 
Oil Prices Drop as Strait of Hormuz Shipping Recovers 
Asian stocks extended gains for a second straight session in early Tuesday trading, led by a powerful rally in Japan following Prime Minister Sanae Takaichi’s decisive election victory over the weekend. The result boosted investor confidence and pushed Tokyo’s benchmark index to new highs, reinforcing optimism across regional equity markets.
MSCI’s broad Asia-Pacific index excluding Japan advanced 0.4%, while the Nikkei 225 surged 2.1%, marking its third consecutive day of gains and setting a fresh record. Japanese equities were supported by expectations of policy continuity, corporate investment growth, and sustained momentum in technology-related sectors tied to artificial intelligence.
U.S. equity futures cooled slightly after a strong two-day rally on Wall Street. S&P 500 e-mini futures slipped 0.1%, partially retracing gains after the S&P 500 rose 0.5% and the Nasdaq Composite climbed 0.9% on Monday. Technology stocks rebounded as investors looked past last week’s AI-driven selloff and refocused on long-term growth prospects.
Market participants remain cautiously optimistic about the global economic outlook. According to Robeco’s global head of fundamental equity, corporate investment programs continue to expand, which typically supports broader economic activity. He also highlighted the importance of emerging markets in the global AI supply chain, a factor increasingly influencing equity valuations.
Attention now turns to key U.S. economic data due later this week, including retail sales, inflation, and delayed payrolls figures. White House economic adviser Kevin Hassett noted that U.S. job growth could moderate in coming months as immigration policies slow labor force expansion while AI adoption boosts productivity.
In currency markets, the U.S. dollar index hovered near a monthly low at 96.97 after its sharpest one-day drop in two weeks. The move followed reports that Chinese regulators advised financial institutions to limit U.S. Treasury holdings due to concentration risk. The dollar was flat against the offshore yuan at 6.9167.
U.S. Treasury yields edged slightly higher, with the 10-year yield at 4.196%. Fed funds futures continue to signal expectations that the Federal Reserve will hold interest rates steady until June.
Commodities were mixed, with WTI crude easing to $64.15 per barrel. Gold slipped 0.9% to $5,018.59 an ounce, silver fell sharply, and cryptocurrencies including Bitcoin and ether also traded lower, reflecting a modest pullback in risk appetite.
