Asian Stocks Slip as Oracle Earnings Miss Sparks AI Profitability Concerns 
Wall Street Futures Slip as Oracle Earnings Miss Reignites AI Spending Concerns 
ADB Approves $400 Million Loan to Boost Ease of Doing Business in the Philippines 
Australia’s Labour Market Weakens as November Employment Drops Sharply 
Indonesia–U.S. Tariff Talks Near Completion as Both Sides Push for Year-End Deal 
Asian Stocks Slip Ahead of Fed Decision as China Deflation Concerns Deepen 
Oil Prices Rebound in Asia as Venezuela Sanctions Risks Offset Ukraine Peace Hopes 
Brazil Holds Selic Rate at 15% as Inflation Expectations Stay Elevated 
Gold Prices Hold Firm as Markets Await Fed Rate Cut; Silver Surges to Record High 
Asian Currencies Hold Steady as Indian Rupee Slides to Record Low on Fed Outlook 
Gold Prices Dip as Markets Absorb Dovish Fed Outlook; Silver Eases After Record High 
Gold Prices Slip Slightly in Asia as Silver Nears Record Highs on Dovish Fed Outlook 
Russia Stocks End Flat as Energy and Retail Shares Show Mixed Performance 
Oil Prices Edge Higher as U.S. Seizes Sanctioned Venezuelan Tanker 
S&P 500 Slides as AI Chip Stocks Tumble, Cooling Tech Rally 
U.S. Dollar Slides for Third Straight Week as Rate Cut Expectations Boost Euro and Pound 
The euro zone economy showed little to no growth for the second consecutive month in June, as activity in both the services and manufacturing sectors remained subdued, according to a survey released Monday. HCOB’s flash composite Purchasing Managers’ Index (PMI), compiled by S&P Global, held steady at 50.2—the same as May—barely above the 50 threshold that separates growth from contraction and below the Reuters forecast of 50.5.
Cyrus de la Rubia, chief economist at Hamburg Commercial Bank, noted, “The euro zone economy is struggling to gain momentum. Growth has been minimal for six months, with services stagnating and manufacturing only slightly improving.” While Germany showed signs of cautious recovery, France continued to lag behind.
New business activity declined for the 13th straight month, though the drop was modest. The new business index edged up to 49.7 from 49.0 in May. The services PMI ticked up to 50.0, meeting expectations and signaling stabilization. Optimism among services firms improved, with the business expectations index jumping to 57.9, the highest in four months.
However, manufacturing continued to underperform. The sector’s headline PMI stayed at 49.4, below expectations of 49.8, marking a persistent downturn since mid-2022. The output subindex, which feeds into the composite PMI, slipped to 51.0 from 51.5. Factories also lowered their selling prices for a second consecutive month, with the output prices index unchanged at 49.2.
Euro zone inflation dipped below the European Central Bank’s 2% target in May. Despite a recent rate cut, ECB policymakers, including Bundesbank President Joachim Nagel, signaled that further monetary easing may be on hold as they remain focused on anchoring inflation.
