Japan Signals Preference for Low Interest Rates as BOJ Policy Debate Intensifies 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
Gold Drops Below $4,000 as Strong US Dollar and Fed Rate Hike Expectations Pressure Bullion 
Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns 
Wall Street Ends Lower as AI Stocks Drag Markets, Fed Rate Outlook Shifts 
Trump Threatens 100% Tariffs on Countries Imposing Digital Services Taxes on U.S. Tech Firms 
Australian Household Spending Rebounds Strongly in May as Travel and Dining Drive Consumer Growth 
Gold Price Ends Lower for Fourth Week Despite Rebound as Fed Rate Hike Bets Strengthen 
Wall Street Ends Mixed as Micron Surges, Apple Drops After Price Hikes 
World Bank Approves $1.1 Billion Emergency Funding for Bangladesh Amid Food and Energy Price Pressures 
White House Seeks $87.6 Billion Emergency Funding for Iran War, Farmers, and Ebola Response 
US Dollar Slips After PCE Inflation Data as Fed Rate Hike Expectations Stay Elevated 
Gold Prices Fall Below $4,000 as Strong Dollar, Fed Rate Hike Bets Weigh on Bullion 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
South Korea’s KOSPI Jumps Over 5% as Samsung, SK Hynix Rally on Micron Earnings Boost 
Oil Prices Rise as US-Iran Tensions Threaten Strait of Hormuz Oil Shipments 
The S&P 500 surged 1.1% on Wednesday after the Federal Reserve left interest rates unchanged and maintained its forecast for two rate cuts in 2024, despite acknowledging persistent inflation. The Dow Jones rose 383 points (0.9%), while the NASDAQ gained 1.4%.
The Fed kept rates in the 4.25%-4.5% range, with projections showing a decline to 3.9% by year-end, unchanged from December. Inflation forecasts increased, but Fed Chair Jerome Powell suggested weaker economic growth might offset rising prices. Powell emphasized that while sentiment indicators softened, economic fundamentals, including the labor market, remain strong.
Tesla jumped over 4% after securing an initial regulatory approval for its robotaxi service in California. The California Public Utilities Commission granted the company a transportation permit, a crucial step toward launching autonomous ride services.
Boeing soared 7% as CFO Brian West highlighted improved operations. Meanwhile, Nvidia climbed more than 2% after CEO Jensen Huang downplayed concerns over tariff impacts.
General Mills, however, fell 2% after forecasting a significant decline in sales and profit due to increased competition from lower-cost private label brands.
Despite inflation concerns, analysts believe the Fed will prioritize labor market stability over short-term price increases. Investors remain optimistic about the central bank’s rate-cut timeline, fueling market gains.
