U.S. Treasury Yields Surge as 30-Year Hits 22-Year High 
Dollar Holds Near Two-Month High as Yen Approaches 160 
Asian Currencies Mixed as Dollar Holds Near Two-Month High 
UK PM Burnham to Unveil Economic Vision at Labour Conference 
China Agrees to Buy 20 Million Tons of U.S. Coal 
Soybean Futures Slip as Traders Await Trump-Xi Trade Signals 
Germany’s 2026 Growth Outlook Strengthens on Fiscal Spending 
Japanese Yen Rebounds as Trump Flags Currency Weakness 
Mexico-US Trade Talks Delayed to October as Tariff Negotiations Continue 
Asian Stocks Fall as Bond Yields Surge Ahead of Trump-Xi Summit 
US Stock Futures Fall as Treasury Yields Surge Ahead of Trump-Xi Summit 
U.S. Dollar Hits Two-Month High as Oil, Treasury Yields Surge 
European Stocks Fall as Bond Yields and Geopolitical Risks Weigh 
Dollar Falls as Oil Eases, Yen Jumps on Intervention Signals 
RBI Uses $10 Billion Currency Swaps to Drain Excess Rupee Liquidity 
Fed’s Hammack Says Bond Yield Surge Is Not Driven by Inflation Fears 
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U.S. stock futures plunged late Thursday following reports that Israel launched military strikes on Iran. The S&P 500 Futures dropped 1.5% to 5,961.75, Nasdaq 100 Futures fell 1.7% to 21,567.55, and Dow Jones Futures declined 1.3% to 42,408. Markets reacted swiftly to geopolitical tensions, despite reports confirming no U.S. involvement in the operation.
Reuters, citing two U.S. officials, reported Israel’s actions came amid escalating regional tensions. Israel’s defense minister declared a nationwide state of emergency. While the U.S. remains officially uninvolved, the Biden administration had previously warned of military options if nuclear talks failed, with a critical deadline expiring Thursday. Iran has vowed retaliation for any strikes.
Earlier Thursday, U.S. equities closed higher. The S&P 500 gained 0.4%, the Nasdaq rose 0.2%, and the Dow added 0.2%, supported by a rally in Oracle shares. Oracle (NYSE:ORCL) hit record highs after raising its annual revenue growth target and highlighting strong AI-related demand.
However, Boeing (NYSE:BA) dropped 4.8% after an Air India 787-8 Dreamliner crashed shortly after takeoff from Ahmedabad, reportedly killing over 200 people. GE Aerospace (NYSE:GE), whose GEnx-1B engines power the aircraft, also fell 2.2%.
Economic data showed cooling inflation. May’s producer price index came in lower than expected, driven by cheaper services like air travel. The Federal Reserve is expected to maintain rates at 4.25%-4.50% in its upcoming meeting, with potential cuts anticipated in September.
President Donald Trump called Fed Chair Jerome Powell a "numbskull," pushing for a full-point rate cut to save $600 billion in debt interest. Trump also hinted at raising auto tariffs, reviving U.S.-China trade war concerns ahead of a July 9 trade deal deadline.
