SpaceX Eyes Starlink Mobile Phone Service to Challenge Verizon, AT&T, and T-Mobile 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
Australian Household Spending Rebounds Strongly in May as Travel and Dining Drive Consumer Growth 
U.S. Dollar Reaches One-Year High as Tech Sell-Off and Fed Rate Hike Expectations Support Demand 
Gold Falls Below $4,000 as Strong Dollar and Fed Rate Hike Expectations Weigh on Prices 
S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges 
Wall Street Ends Lower as AI Stocks Drag Markets, Fed Rate Outlook Shifts 
Asian Markets Rally as Micron and Qualcomm AI Outlook Lifts Global Tech Stocks 
South Korea’s KOSPI Jumps Over 5% as Samsung, SK Hynix Rally on Micron Earnings Boost 
Gold Prices Fall Below $4,000 as Strong Dollar, Fed Rate Hike Bets Weigh on Bullion 
Oil Prices Rebound as Strait of Hormuz Tensions Return After Ship Attack Near Oman 
White House Seeks $87.6 Billion Emergency Funding for Iran War, Farmers, and Ebola Response 
Oil Prices Drop as Strait of Hormuz Shipping Recovers 
Japan Signals Preference for Low Interest Rates as BOJ Policy Debate Intensifies 
US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
BOJ Hawk Signals Faster Interest Rate Hikes Amid Inflation Risks 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
Oil prices climbed sharply on Monday as stalled U.S.-Iran negotiations continued to disrupt Middle East energy exports, fueling concerns across global markets. Brent crude futures rose nearly 2%, reaching a three-week high of $107.97 per barrel during Asian trading. This spike has intensified inflation fears and led investors to scale back expectations for interest rate cuts in major economies this year.
The ongoing geopolitical tension, particularly around the Strait of Hormuz, remains a key driver of volatility. With limited oil and gas shipments passing through the critical route, supply constraints are pushing energy prices higher. Liquefied natural gas (LNG) prices have also surged, with June delivery into Northeast Asia averaging $16.70 per million British thermal units—up roughly 61% from pre-conflict levels. Analysts at Goldman Sachs have raised their year-end Brent crude forecast to $90 per barrel, warning that further supply shortages could trigger even steeper price increases.
Despite energy market concerns, global stock markets showed resilience, supported by renewed enthusiasm around artificial intelligence (AI) investments. S&P 500 futures edged up by 0.2%, while markets in Taiwan, Japan, and South Korea followed Wall Street’s lead in reaching record highs. Strong demand for semiconductor stocks, fueled by optimistic AI spending outlooks, has boosted valuations across major tech-driven markets.
Currency markets remained relatively stable, with the euro trading at $1.1724 and the Japanese yen at 159.32 per dollar. Meanwhile, bond markets held steady as investors await key central bank decisions from the U.S. Federal Reserve, European Central Bank, Bank of England, and Bank of Japan. Most policymakers are expected to maintain current interest rates, though future guidance could shift expectations for potential rate hikes.
Investor attention is also focused on upcoming earnings reports from major technology companies, including Microsoft, Amazon, Alphabet, Meta, and Apple. These results, particularly capital expenditure on AI infrastructure, are expected to shape market sentiment in the coming weeks as the global economy balances geopolitical risks with rapid technological growth.
