Fed Unveils Stablecoin Rules Under GENIUS Act 
U.S. Dollar Hits Two-Month High as Oil, Treasury Yields Surge 
UK PM Burnham to Unveil Economic Vision at Labour Conference 
Japanese Bank Stocks Surge as Bond Yields Fuel Rate Hike Bets 
US Stock Futures Fall as Treasury Yields Surge Ahead of Trump-Xi Summit 
Mexico-US Trade Talks Delayed to October as Tariff Negotiations Continue 
U.S. Treasury Yields Surge as 30-Year Hits 22-Year High 
Oil Prices Fall on U.S.-Iran Hormuz Deal Hopes 
China Agrees to Buy 20 Million Tons of U.S. Coal 
Trump, Xi Focus on Trade and AI at White House Summit 
Gold Prices Fall as Treasury Yields Rise on Fed Rate Hike Bets 
Fed’s Hammack Says Bond Yield Surge Is Not Driven by Inflation Fears 
Fed Unveils Stablecoin Rules Under GENIUS Act 
Australia Unemployment Hits Five-Year High Despite Strong Jobs Growth 
Japanese Yen Rebounds as Trump Flags Currency Weakness 
Asian Currencies Mixed as Dollar Holds Near Two-Month High 
Dollar Holds Near Two-Month High as Yen Approaches 160 
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U.S. stock index futures edged higher Wednesday evening, driven by tech sector gains following Alphabet Inc.’s strong quarterly results and President Donald Trump’s announcement of new initiatives to boost the artificial intelligence industry.
Alphabet (NASDAQ:GOOGL) jumped 1.8% in after-hours trading after reporting second-quarter earnings per share of $2.31, beating Wall Street estimates of $2.18. The company raised its 2025 capital spending outlook to $85 billion, citing increased demand for cloud services and rapid AI integration into its core search platform, which helped lift advertising revenue by 10%.
Trump also fueled optimism with the White House’s first AI summit, unveiling a 90-part plan and signing three executive orders to strengthen U.S. leadership in AI. The measures aim to streamline federal regulations, expand AI technology exports, and prevent the use of politically biased AI. The president praised chipmakers Nvidia (NASDAQ:NVDA) and AMD (NASDAQ:AMD) as central to the country’s AI ambitions.
Futures tracked Wall Street’s earlier rally, spurred by Trump’s trade deal with Japan. The agreement imposes a 15% tariff while securing $550 billion in Japanese investment and expanded U.S. agricultural and auto exports. Hopes are rising for additional trade agreements before Trump’s proposed global tariffs of 15%-50% take effect on August 1.
As of 20:09 ET (00:09 GMT), S&P 500 Futures gained 0.1% to 6,402.25, Nasdaq 100 Futures rose 0.3% to 23,387.50, while Dow Jones Futures slipped 0.3% to 45,097.00. The S&P 500 closed earlier at a record 6,358.97. Attention now shifts to next week’s Federal Reserve meeting, where rates are expected to remain unchanged.
