Trump Signs Executive Order Threatening 25% Tariffs on Countries Trading With Iran 
Asian Stocks Slip as Tech Rout Deepens, Japan Steadies Ahead of Election 
Silver Prices Plunge in Asian Trade as Dollar Strength Triggers Fresh Precious Metals Sell-Off 
Russian Stocks End Mixed as MOEX Index Closes Flat Amid Commodity Strength 
Dollar Steadies Ahead of ECB and BoE Decisions as Markets Turn Risk-Off 
Trump Lifts 25% Tariff on Indian Goods in Strategic U.S.–India Trade and Energy Deal 
Oil Prices Slide on US-Iran Talks, Dollar Strength and Profit-Taking Pressure 
Gold and Silver Prices Slide as Dollar Strength and Easing Tensions Weigh on Metals 
Trump Endorses Japan’s Sanae Takaichi Ahead of Crucial Election Amid Market and China Tensions 
Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target 
South Korea Assures U.S. on Trade Deal Commitments Amid Tariff Concerns 
India–U.S. Interim Trade Pact Cuts Auto Tariffs but Leaves Tesla Out 
RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal 
South Africa Eyes ECB Repo Lines as Inflation Eases and Rate Cuts Loom 
Dow Hits 50,000 as U.S. Stocks Stage Strong Rebound Amid AI Volatility 
Vietnam’s Trade Surplus With US Jumps as Exports Surge and China Imports Hit Record 
The S&P 500 closed higher Wednesday after President Donald Trump dismissed reports suggesting he was close to firing Federal Reserve Chair Jerome Powell. Trump clarified he had “no plans” to remove Powell, though he criticized the Fed’s handling of interest rates and costly renovations at its headquarters.
At market close, the Dow rose 231 points (0.5%), the S&P 500 added 0.3%, and the Nasdaq hit a record high of 20,730.49.
On the economic front, U.S. wholesale inflation remained flat in June, with the Producer Price Index (PPI) rising 2.3% annually, down from May’s 2.7%, and unchanged month-on-month. This came after Tuesday's data showed consumer prices rose 2.7% annually, beating expectations.
The Federal Reserve’s Beige Book, offering anecdotal insights into economic conditions, is expected to underscore ongoing stagflation risks amid trade uncertainty. President Trump announced new tariffs, including 200% on pharmaceutical imports and 19% on Indonesian goods, with more “reciprocal” tariffs potentially hitting by August 1.
Meanwhile, Q2 earnings season is in full swing. Bank of America and Goldman Sachs shares rose on strong trading revenue, while Morgan Stanley slipped despite a profit increase. JPMorgan and Citigroup beat estimates but warned of economic risks tied to trade tensions.
Tesla gained 3% after unveiling plans for a six-seater Model Y this fall. Johnson & Johnson stock climbed following an upgraded sales forecast. Global Payments surged 5% on news of Elliott Management’s investment.
Crypto-related stocks like Circle, Coinbase, and Marathon Digital rallied as optimism grew around pending votes on the GENIUS Act and CLARITY Act, two bills that could significantly expand stablecoin adoption.
