RBI Uses $10 Billion Currency Swaps to Drain Excess Rupee Liquidity 
Asian Stocks Fall as Bond Yields Surge Ahead of Trump-Xi Summit 
Dollar Holds Near Two-Month High as Yen Approaches 160 
Gold Holds Near $4,275 as Rising Treasury Yields Fuel Fed Rate Hike Bets 
Oil Prices Fall on U.S.-Iran Hormuz Deal Hopes 
U.S. Treasury Yields Surge as 30-Year Hits 22-Year High 
Soybean Futures Slip as Traders Await Trump-Xi Trade Signals 
Dollar Falls as Oil Eases, Yen Jumps on Intervention Signals 
Mexico-US Trade Talks Delayed to October as Tariff Negotiations Continue 
Trump, Xi Focus on Trade and AI at White House Summit 
Asian Stocks Fall as Surging Bond Yields Rattle Markets 
Wall Street Ends Flat as Oil, Treasury Yields and Fed Jitters Rattle Markets 
European Stocks Fall as Bond Yields and Geopolitical Risks Weigh 
Japanese Yen Rebounds as Trump Flags Currency Weakness 
Canadian Dollar Faces Pressure as Fed-BoC Policy Gap Widens 
US Stock Futures Fall as Treasury Yields Surge Ahead of Trump-Xi Summit 
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U.S. stocks closed mixed Wednesday, with the S&P 500 and Nasdaq setting new record highs, fueled by strong tech performance and easing trade tensions following a deal between the U.S. and Vietnam. The Dow Jones dipped slightly, ending 0.02% lower at 44,484.42 but remained within 1.2% of its December record.
Tech giants Nvidia (NASDAQ: NVDA), Apple (NASDAQ: AAPL), and Tesla (NASDAQ: TSLA) led the Nasdaq to a 0.94% gain, closing at 20,393.13. Tesla rose 5% despite reporting a sharp drop in Q2 deliveries, with some analysts noting the decline was less severe than feared. Leveraged ETF TSLL, offering 2x daily exposure to Tesla, saw high trading volume.
The S&P 500 added 0.47%, closing at 6,227.42. The market initially opened lower after weaker-than-expected private payroll data but rebounded after the announcement of 20% tariffs on Vietnamese exports under the new trade deal. Investors welcomed the development, hoping it signals progress in broader trade talks. The Trump administration also hinted at a potential agreement with India.
Investor attention now turns to Thursday’s non-farm payrolls report, released a day early due to the July 4 holiday. Economists expect cooling job growth and a slight uptick in the unemployment rate to 4.3%, which could push the Federal Reserve closer to rate cuts.
Centene (NYSE: CNC) plunged 40% after withdrawing its 2025 earnings outlook, citing a major revenue shortfall in its health insurance plans.
Trading volume reached 16.95 billion shares, just below the 20-day average. Analysts say investor sentiment remains risk-on, driven by hopes of looser monetary policy and improving trade dynamics.
