European Stocks Slip as Iran Tensions Offset Strong Eurozone Data 
US 10-Year Treasury Yield at 6% Emerges as New Market Risk Threshold 
Wall Street Ends Flat as Oil, Treasury Yields and Fed Jitters Rattle Markets 
Asian Stocks Fall as Bond Yields Surge Ahead of Trump-Xi Summit 
Oil Prices Jump 3% as Houthi Attack Revives Supply Fears 
Soybean Futures Slip as Traders Await Trump-Xi Trade Signals 
Dollar Hits Two-Month High as Fed Rate Hike Bets Rise 
Asian Currencies Mixed as Dollar Holds Near Two-Month High 
Trump, Xi Focus on Trade and AI at White House Summit 
Fed Unveils Stablecoin Rules Under GENIUS Act 
US Stock Futures Fall as Treasury Yields Surge Ahead of Trump-Xi Summit 
US, China Extend Trade Truce to Jan. 10 Ahead of Trump-Xi Summit 
Wall Street Falls as Treasury Yields Surge, Oil Rebounds on Iran Tensions 
China’s ‘Lipstick King’ Says AI Won’t Replace Livestream Hosts 
Japan Private-Sector Growth Slows as Domestic Demand Weakens 
US Dollar Hits Two-Month High as Fed Rate Hike Bets Rise 
U.S. 10-Year Treasury Yield Hits 2007 High as Fed Rate Hike Bets Rise 
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U.S. stock index futures traded slightly higher late Wednesday after softer-than-expected June inflation data eased concerns that the Federal Reserve could resume raising interest rates in the near term. However, ongoing geopolitical tensions involving Iran and continued weakness in semiconductor stocks kept investor sentiment cautious.
S&P 500 Futures, Nasdaq 100 Futures, and Dow Jones Futures each gained around 0.1% in overnight trading following a positive session on Wall Street. Markets were supported by strong second-quarter corporate earnings, although investors remained wary of elevated valuations in artificial intelligence-related technology stocks.
Inflation data provided the biggest boost to sentiment. June producer price index (PPI) figures came in below expectations, reinforcing the previous day’s softer consumer price index (CPI) report. The data helped calm fears that rising energy costs would force the Federal Reserve to tighten monetary policy as early as July.
During his congressional testimony, Federal Reserve Chair Kevin Warsh reaffirmed the central bank’s commitment to returning inflation to its 2% target but avoided signaling when interest rate adjustments might occur. Following the inflation reports, traders scaled back expectations for a near-term Fed rate hike, according to CME FedWatch data. Still, investors remain alert to the possibility that AI-driven demand could contribute to longer-term inflation pressures.
Geopolitical developments also stayed in focus as the United States and Iran exchanged fresh strikes while issuing conflicting statements regarding the Strait of Hormuz. The uncertainty kept oil prices elevated after their sharp rebound from recent yearly lows.
Technology shares remained mixed as semiconductor stocks extended recent losses despite strong quarterly results from Dutch chip equipment maker ASML. Although ASML highlighted continued robust demand driven by artificial intelligence, the Philadelphia Semiconductor Index fell more than 2% as investors questioned whether the sector’s rapid growth can continue.
Attention now shifts to Taiwan Semiconductor Manufacturing Co. (TSMC), which is scheduled to report second-quarter earnings on Thursday. Investors will closely watch the company’s outlook for AI-related chip demand, given its role as a major supplier to NVIDIA and other leading AI companies.
Thursday’s earnings calendar also includes major reports from UnitedHealth, GE Aerospace, Netflix, and Abbott Laboratories, which could further shape market direction.
