Asian Stocks Sink as Apple Price Hikes Spark AI Valuation Fears, South Korea and Japan Lead Selloff 
Gold Drops Below $4,000 as Strong US Dollar and Fed Rate Hike Expectations Pressure Bullion 
Gold Prices Rise Above $4,000 as Inflation Data and Weaker Dollar Boost Demand 
Iran Attack in Strait of Hormuz Pushes Oil Prices Higher 
SpaceX Eyes Starlink Mobile Phone Service to Challenge Verizon, AT&T, and T-Mobile 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
Oil Prices Drop as Strait of Hormuz Shipping Recovers 
White House Seeks $87.6 Billion Emergency Funding for Iran War, Farmers, and Ebola Response 
Wall Street Ends Mixed as Micron Surges, Apple Drops After Price Hikes 
Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns 
BOJ Hawk Signals Faster Interest Rate Hikes Amid Inflation Risks 
Australia Jobs Growth Strengthens Rate Hike Outlook 
Oil Prices Drop as Middle East Supply Recovery Eases Market Concerns 
Australian Household Spending Rebounds Strongly in May as Travel and Dining Drive Consumer Growth 
Trump Requests $11 Billion More in Farm Aid as Rising Costs Pressure U.S. Farmers 
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.
