Wall Street Ends Lower as AI Stocks Drag Markets, Fed Rate Outlook Shifts 
Trump Requests $11 Billion More in Farm Aid as Rising Costs Pressure U.S. Farmers 
Gold Falls Below $4,000 as Strong Dollar and Fed Rate Hike Expectations Weigh on Prices 
Australia Jobs Growth Strengthens Rate Hike Outlook 
US Approves $250 Million Fighter Jet Training Sale to Australia 
Wall Street Ends Mixed as Micron Surges, Apple Drops After Price Hikes 
US Strikes Iran After Strait of Hormuz Attack as Ceasefire Tensions Escalate 
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 
Japan Signals Preference for Low Interest Rates as BOJ Policy Debate Intensifies 
South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
Australian Household Spending Rebounds Strongly in May as Travel and Dining Drive Consumer Growth 
US Dollar Slips After PCE Inflation Data as Fed Rate Hike Expectations Stay Elevated 
S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges 
Asian Markets Rally as Micron and Qualcomm AI Outlook Lifts Global Tech Stocks 
Kenya’s President William Ruto announced that his country expects to sign a trade deal with the United States by the end of 2025, while also urging Washington to extend the African Growth and Opportunity Act (AGOA) for at least five years. Speaking on the sidelines of the United Nations General Assembly in New York, Ruto emphasized that AGOA remains a vital framework for strengthening U.S.-Africa trade relations. The 25-year-old agreement, which provides duty-free access to African exports, is set to expire soon, raising concerns about its future.
Ruto noted that he plans to discuss AGOA with U.S. Secretary of State Marco Rubio, stressing that the platform helps reduce trade deficits and creates opportunities for both economies. However, uncertainty surrounds its renewal, especially after a bipartisan effort to extend it last year failed in Congress. The return of Donald Trump to the White House, along with his tariff-driven policies, has further complicated the outlook.
Despite these challenges, Ruto expressed optimism about bilateral talks, revealing that “good progress” has been made on a U.S.-Kenya trade agreement. In April, Trump imposed a 10% tariff on Kenyan goods, but Nairobi is seeking expanded access for textiles, apparel, tea, coffee, avocados, and new sectors such as mining and fisheries. If finalized, the agreement would mark the first U.S. trade pact with a sub-Saharan African nation.
Ruto also addressed regional and global security concerns. He highlighted Kenya’s involvement in Haiti, where armed gangs control most of Port-au-Prince, displacing over a million people. He urged the international community to provide more logistical, financial, and military support to the Kenyan-led mission. On the Democratic Republic of Congo, Ruto said discussions are planned involving the U.S., Qatar, and regional blocs to address ongoing conflict.
At a time when trade and security challenges intersect, Kenya is positioning itself as a key African partner for Washington.
