Asian Stocks Fall as Bond Yields Surge Ahead of Trump-Xi Summit 
Asian Currencies Mixed as Dollar Holds Near Two-Month High 
U.S. Dollar Hits Two-Month High as Oil, Treasury Yields Surge 
Dollar Falls as Oil Eases, Yen Jumps on Intervention Signals 
UK PM Burnham to Unveil Economic Vision at Labour Conference 
Mexico-US Trade Talks Delayed to October as Tariff Negotiations Continue 
Oil Prices Jump 3% as Houthi Attack Revives Supply Fears 
Fed Unveils Stablecoin Rules Under GENIUS Act 
Japanese Yen Rebounds as Trump Flags Currency Weakness 
Wall Street Ends Flat as Oil, Treasury Yields and Fed Jitters Rattle Markets 
Oil Prices Fall on U.S.-Iran Hormuz Deal Hopes 
RBI Uses $10 Billion Currency Swaps to Drain Excess Rupee Liquidity 
Germany’s 2026 Growth Outlook Strengthens on Fiscal Spending 
Gold Holds Near $4,275 as Rising Treasury Yields Fuel Fed Rate Hike Bets 
Canadian Dollar Faces Pressure as Fed-BoC Policy Gap Widens 
Asian Stocks Fall as Surging Bond Yields Rattle Markets 
US 10-Year Treasury Yield at 6% Emerges as New Market Risk Threshold 
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The S&P 500 and Nasdaq closed at record highs Wednesday, driven by strong gains in Nvidia (NASDAQ: NVDA) and GE Vernova amid signs of a potential U.S.-EU trade agreement. The deal, expected to mirror President Trump’s prior accord with Japan, could introduce a broad 15% tariff on EU imports, including cars, according to diplomats.
The S&P 500 rose 0.78% to 6,358.91, while the Nasdaq added 0.61% to 21,020.02. The Dow Jones Industrial Average climbed 1.14% to 45,010.29, just shy of a record close. Year-to-date, the S&P 500 has advanced about 8% and the Nasdaq nearly 9%, buoyed by optimism over trade and robust corporate earnings.
GE Vernova surged 14.6% after boosting revenue and free cash flow forecasts, benefiting from soaring AI and cryptocurrency data center energy demand. Nvidia gained 2.25%, continuing its leadership in the AI chip market. Thermo Fisher (NYSE: TMO) also jumped 9% on strong earnings, while Texas Instruments (NASDAQ: TXN) plunged 13% after weak guidance signaled soft demand for analog chips, dragging peers like NXP Semiconductors (NASDAQ: NXPI) and Analog Devices (NASDAQ: ADI) lower.
Market volatility eased, with the CBOE Volatility Index hitting a five-month low. Investors now await U.S. jobless claims and PMI data for further economic signals. Fed rate cuts are viewed as unlikely next week, with September odds around 58%, per CME FedWatch.
Trading volume was heavy at 19.1 billion shares, above the 20-day average. Advancing stocks outnumbered decliners in the S&P 500 by more than 2-to-1, with 50 new highs recorded.
