White House Seeks $87.6 Billion Emergency Funding for Iran War, Farmers, and Ebola Response 
S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges 
Asian Markets Rally as Micron and Qualcomm AI Outlook Lifts Global Tech Stocks 
Iran Attack in Strait of Hormuz Pushes Oil Prices Higher 
Gold Prices Rise Above $4,000 as Inflation Data and Weaker Dollar Boost Demand 
South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
Wall Street Ends Mixed as Micron Surges, Apple Drops After Price Hikes 
Trump Threatens 100% Tariffs on Countries Imposing Digital Services Taxes on U.S. Tech Firms 
Japan Signals Preference for Low Interest Rates as BOJ Policy Debate Intensifies 
SpaceX Eyes Starlink Mobile Phone Service to Challenge Verizon, AT&T, and T-Mobile 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
Australia Jobs Growth Strengthens Rate Hike Outlook 
Australian Household Spending Rebounds Strongly in May as Travel and Dining Drive Consumer Growth 
US Dollar Slips After PCE Inflation Data as Fed Rate Hike Expectations Stay Elevated 
Gold Prices Fall Below $4,000 as Strong Dollar, Fed Rate Hike Bets Weigh on Bullion 
Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns 
U.S. stocks closed sharply higher on Wednesday after President Donald Trump signaled a major easing of trade tensions with Europe, lifting investor sentiment and pushing major Wall Street indexes firmly into positive territory. The Dow Jones Industrial Average rose 588 points, or 1.2%, while the S&P 500 and Nasdaq Composite each gained 1.2% by the 4:00 p.m. ET close.
Markets reacted positively after Trump said he would not impose new tariffs on European nations following the establishment of a framework for a future deal on Greenland. Speaking from the World Economic Forum in Davos, Switzerland, Trump said the agreement came after a meeting with NATO Secretary General Mark Rutte and would address U.S. strategic interests in Greenland and the broader Arctic region.
According to Trump, the framework includes U.S. involvement in Greenland’s mineral rights and participation in the “Golden Dome,” a layered missile defense system for the United States. The announcement reduced fears of a renewed trade conflict with Europe, prompting a rally in equities and a sharp decline in U.S. Treasury yields.
In corporate news, Netflix shares slid after the streaming giant reported better-than-expected quarterly earnings but issued weaker first-quarter guidance. The company cited declining viewership for non-branded licensed content, signaling softer demand outside its core original programming. The update followed reports that Netflix had improved its $72 billion bid for Warner Bros Discovery’s studios and streaming assets as competition with Paramount Skydance intensifies.
United Airlines stock climbed after the carrier beat profit expectations and delivered a strong outlook, supported by robust demand from corporate and higher-income travelers. Halliburton and Travelers also posted gains after exceeding earnings estimates, while Kraft Heinz shares fell on speculation that Berkshire Hathaway may sell its long-held stake. Johnson & Johnson edged lower despite issuing upbeat 2026 guidance, citing expected costs from a U.S. drug pricing agreement.
Investors are now looking ahead to earnings from Procter & Gamble, GE Aerospace, Intel, Abbott Laboratories, and Intuitive Surgical, which are set to report next, potentially adding further momentum to U.S. stock markets.
