Gold Price Falls as Fed Rate Hike Fears and U.S.-Iran Tensions Weigh on Bullion 
Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns 
Iran Attack in Strait of Hormuz Pushes Oil Prices Higher 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
China Factory PMI Seen Returning to Growth in June as AI Export Demand Supports Economy 
Oil Prices Rebound as Strait of Hormuz Tensions Return After Ship Attack Near Oman 
Oil Prices Drop as Middle East Supply Recovery Eases Market Concerns 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
Japan Targets 1%+ Real Economic Growth With ¥370 Trillion Investment Plan 
Gold Price Ends Lower for Fourth Week Despite Rebound as Fed Rate Hike Bets Strengthen 
US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
Economic pessimism has set in – but there are reasons for Australians to be hopeful 
Trump Threatens 100% Tariffs on Countries Imposing Digital Services Taxes on U.S. Tech Firms 
Asian Stocks Sink as Apple Price Hikes Spark AI Valuation Fears, South Korea and Japan Lead Selloff 
Asian Stocks Slip as US-Iran Ceasefire Hopes Lift Oil, Dollar Strength Persists 
Wall Street’s major indexes closed mixed on Tuesday as gains in Coca-Cola (NYSE:KO) and Apple (NASDAQ:AAPL) offset losses in Tesla (NASDAQ:TSLA). Investors assessed Federal Reserve Chair Jerome Powell’s latest comments, with the Fed in no rush to cut interest rates despite persistent inflation and a strong labor market.
Powell, speaking before the Senate Banking Committee, emphasized that inflation remains above the 2% target, suggesting rate cuts are unlikely in the near term. Meanwhile, traders anticipate at least one 25-basis-point rate cut this year, with a 44% chance of another reduction, per LSEG data.
Investor attention also turned to trade policies after President Donald Trump raised steel and aluminum tariffs, hinting at further reciprocal duties on countries imposing levies on U.S. goods. Market volatility remains high amid economic uncertainties, inflation concerns, and ongoing tariff discussions.
The S&P 500 edged up 0.03% to 6,068.50, while the Dow Jones Industrial Average gained 0.28% to 44,593.65. The Nasdaq dipped 0.36% to 19,643.86. Trading volume was above average, with 15.4 billion shares exchanged.
Coca-Cola surged 4.7% after beating Q4 revenue estimates due to higher prices and strong demand. Apple rose 2.2% following reports of an AI partnership with Alibaba (NYSE:BABA) in China. Tesla plummeted 6.3% after reports that Elon Musk's consortium bid $97 billion to acquire OpenAI’s controlling nonprofit.
Other notable movers included Phillips 66 (NYSE:PSX), up 4.7% after Elliott Investment’s $2.5 billion stake revelation, and DuPont de Nemours (NYSE:DD), which soared nearly 7% after raising its 2025 profit forecast. Ecolab (NYSE:ECL) jumped 6.2% on strong earnings guidance, while Fidelity National Information Services (NASDAQ:III) tumbled over 11% due to a weak profit outlook.
