South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
Gold Falls Below $4,000 as Strong Dollar and Fed Rate Hike Expectations Weigh on Prices 
SpaceX Eyes Starlink Mobile Phone Service to Challenge Verizon, AT&T, and T-Mobile 
Australian Household Spending Rebounds Strongly in May as Travel and Dining Drive Consumer Growth 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
Oil Prices Rebound as Strait of Hormuz Tensions Return After Ship Attack Near Oman 
Trump Threatens 100% Tariffs on Countries Imposing Digital Services Taxes on U.S. Tech Firms 
Oil Prices Drop as Middle East Supply Recovery Eases Market Concerns 
BOJ Hawk Signals Faster Interest Rate Hikes Amid Inflation Risks 
Trump Requests $11 Billion More in Farm Aid as Rising Costs Pressure U.S. Farmers 
S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges 
Japan Signals Preference for Low Interest Rates as BOJ Policy Debate Intensifies 
Asian Stocks Sink as Apple Price Hikes Spark AI Valuation Fears, South Korea and Japan Lead Selloff 
Gold Prices Fall Below $4,000 as Strong Dollar, Fed Rate Hike Bets Weigh on Bullion 
Australia Jobs Growth Strengthens Rate Hike Outlook 
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 
U.S. stock futures showed little movement on Wednesday evening after Wall Street closed lower, with investors awaiting crucial economic data that could shape the Federal Reserve’s policy outlook. By 20:18 ET (00:18 GMT), S&P 500 futures rose 0.1% to 6,701.0 points, Nasdaq 100 futures gained 0.1% to 24,768.75 points, and Dow Jones futures added 0.1% to 46,504.0 points.
In regular trading, major indexes slipped as technology stocks weighed on sentiment. The S&P 500 and Nasdaq Composite fell 0.3% each, while the Dow Jones Industrial Average dropped 0.4%. The weakness came as investors grew cautious ahead of weekly jobless claims and the Personal Consumption Expenditures (PCE) inflation report, the Fed’s preferred measure of price growth.
Federal Reserve Chair Jerome Powell, speaking earlier in the week, reiterated that there is “no risk-free path” in balancing inflation and labor market risks. He also warned that asset prices remain “fairly highly valued” and cautioned against assuming recent inflation progress ensures a smooth decline toward the Fed’s 2% target. His remarks reinforced expectations that the central bank will remain cautious in shifting monetary policy.
Markets are now focused on Thursday’s release of jobless claims, expected to show 233,000 initial claims for the week ended Sept. 20, slightly above the prior week’s 231,000. On Friday, the August PCE price index is forecast to reveal core inflation at 2.9% year-on-year, still above the Fed’s goal.
Meanwhile, sector performance highlighted ongoing market volatility. AI-related stocks including Nvidia and Oracle extended declines for a second day, while Micron Technology slipped despite reporting strong demand from artificial intelligence developers. In contrast, Intel surged over 6% following reports it approached Apple regarding a potential investment, offering a bright spot in the otherwise subdued session.
With key economic data ahead, investors remain reluctant to take big positions, waiting for clearer signals on the Fed’s next policy steps heading into year-end.
