Modi and Trump Hold Phone Call as India Seeks Relief From U.S. Tariffs Over Russian Oil Trade 
Fed Rate Cut Signals Balance Between Inflation and Jobs, Says Mary Daly 
Oil Prices Rebound in Asia as Venezuela Sanctions Risks Offset Ukraine Peace Hopes 
Asian Currencies Steady as Fed Delivers Hawkish Rate Cut; Aussie and Rupee Under Pressure 
Indonesia–U.S. Tariff Talks Near Completion as Both Sides Push for Year-End Deal 
Brazil Holds Selic Rate at 15% as Inflation Expectations Stay Elevated 
Asian Stocks Rally as Tech Rebounds, China Lags on Nvidia Competition Concerns 
Gold Prices Hold Firm as Markets Await Fed Rate Cut; Silver Surges to Record High 
Gold Prices Slip Slightly in Asia as Silver Nears Record Highs on Dovish Fed Outlook 
Ireland Limits Planned Trade Ban on Israeli Settlements to Goods Only 
BOJ Expected to Deliver December Rate Hike as Economists See Borrowing Costs Rising Through 2025 
Oil Prices Edge Higher as U.S. Seizes Sanctioned Venezuelan Tanker 
Hong Kong Cuts Base Rate as HKMA Follows U.S. Federal Reserve Move 
S&P 500 Slides as AI Chip Stocks Tumble, Cooling Tech Rally 
Global Markets Slide as Tech Stocks Sink, Yields Rise, and AI Concerns Deepen 
The S&P 500 and Nasdaq Composite closed at record highs on Thursday, driven by strong U.S. retail sales data and upbeat corporate earnings. The Nasdaq rose 153.78 points (0.74%) to 20,884.27, marking its sixth record close in seven sessions. The S&P 500 gained 33.66 points (0.54%) to 6,297.36, while the Dow Jones climbed 229.71 points (0.52%) to 44,484.49.
Investors embraced signs of resilient consumer spending, despite concerns over inflation and President Trump’s recent tariffs. U.S. retail sales rebounded sharply in June, indicating strong consumer confidence even amid trade tensions and higher prices. Analysts noted that both economic indicators and earnings have provided support for the ongoing market rally.
Fed Governor Adriana Kugler confirmed Thursday that interest rate cuts remain on hold as policymakers assess the inflationary impact of import tariffs. Market expectations now place the probability of a September rate cut at 54%, while a July move is largely dismissed, according to CME’s FedWatch tool.
Earnings from major consumer and tech companies boosted sentiment. PepsiCo surged 7.5% after upbeat forecasts, fueled by demand for energy drinks and healthier beverages. United Airlines jumped 3.1% on stronger post-July demand. Delta and American Airlines also gained over 1.4%.
Tech stocks rallied following strong earnings from TSMC, the top AI chipmaker, which reported record quarterly profits and strong AI demand. U.S.-listed shares of TSMC rose 3.4%, with Marvell and Nvidia up 1.6% and 1%, respectively.
Financials led sector gains with a 0.9% rise. Netflix advanced 1.9% before posting better-than-expected earnings, boosted by the final season of “Squid Game.” Analysts say Big Tech could see more upside as AI momentum and earnings season continue.
