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 
U.S. Dollar Reaches One-Year High as Tech Sell-Off and Fed Rate Hike Expectations Support Demand 
Oil Prices Drop as Strait of Hormuz Shipping Recovers 
White House Seeks $87.6 Billion Emergency Funding for Iran War, Farmers, and Ebola Response 
US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
Australia Jobs Growth Strengthens Rate Hike Outlook 
Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns 
SpaceX Eyes Starlink Mobile Phone Service to Challenge Verizon, AT&T, and T-Mobile 
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 
South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
Gold Drops Below $4,000 as Strong US Dollar and Fed Rate Hike Expectations Pressure Bullion 
Trump Threatens 100% Tariffs on Countries Imposing Digital Services Taxes on U.S. Tech Firms 
BOJ Hawk Signals Faster Interest Rate Hikes Amid Inflation Risks 
Asian Markets Rally as Micron and Qualcomm AI Outlook Lifts Global Tech Stocks 
Australian Household Spending Rebounds Strongly in May as Travel and Dining Drive Consumer Growth 
U.S. stock futures posted modest gains Thursday evening, rebounding slightly after Wall Street’s sharp decline earlier in the day. By 19:29 ET (00:29 GMT), S&P 500 Futures rose 0.3% to 6,765.0, Nasdaq 100 Futures gained 0.3% to 25,318.75, while Dow Jones Futures slipped 0.2% to 47,129.0 points.
The recovery followed another volatile session driven by intensified selling in artificial intelligence and semiconductor stocks, with growing fears that high valuations in the tech sector may have overshot fundamentals. The NASDAQ Composite tumbled 1.9%, the S&P 500 dropped 1.4%, and the Dow Jones Industrial Average lost 0.8% as investors reacted to warnings from top Wall Street executives at Goldman Sachs and Morgan Stanley about overheated equity markets.
Concerns were further compounded by the ongoing U.S. government shutdown, now stretching into its second month, delaying crucial economic data such as inflation and jobs reports. This lack of data has complicated the Federal Reserve’s decision-making process regarding potential interest rate cuts. Meanwhile, private data from Challenger, Gray & Christmas showed a staggering 183% increase in corporate layoffs in October—the steepest monthly rise in decades—adding to recessionary concerns.
In corporate developments, Tesla Inc. (NASDAQ: TSLA) shareholders approved CEO Elon Musk’s record-breaking $1 trillion compensation package, contingent on achieving ambitious goals like an $8.5 trillion market valuation and mass deployment of robotaxis and humanoid robots. The approval reflects investor confidence despite recent volatility in tech shares.
Elsewhere, Airbnb Inc. (NASDAQ: ABNB) surged 5% in after-hours trading following strong quarterly earnings and upbeat guidance. Affirm Holdings (NASDAQ: AFRM) also jumped over 12% after reporting robust results that exceeded Wall Street forecasts.
The cautious optimism in futures trading suggests investors remain watchful of macroeconomic uncertainty, market valuations, and the broader impact of AI-driven growth.
