Oil Prices Rebound as Strait of Hormuz Tensions Return After Ship Attack Near Oman 
Gold Drops Below $4,000 as Strong US Dollar and Fed Rate Hike Expectations Pressure Bullion 
Gold Prices Fall Below $4,000 as Strong Dollar, Fed Rate Hike Bets Weigh on Bullion 
Oil Prices Drop as Strait of Hormuz Shipping Recovers 
US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
US Dollar Slips After PCE Inflation Data as Fed Rate Hike Expectations Stay Elevated 
Wall Street Ends Lower as AI Stocks Drag Markets, Fed Rate Outlook Shifts 
Oil Prices Drop as Middle East Supply Recovery Eases Market Concerns 
South Korea’s KOSPI Jumps Over 5% as Samsung, SK Hynix Rally on Micron Earnings Boost 
Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns 
Trump Threatens 100% Tariffs on Countries Imposing Digital Services Taxes on U.S. Tech Firms 
Australia Jobs Growth Strengthens Rate Hike Outlook 
South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
Oil Prices Rise as US-Iran Tensions Threaten Strait of Hormuz Oil Shipments 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
Japan Signals Preference for Low Interest Rates as BOJ Policy Debate Intensifies 
White House Seeks $87.6 Billion Emergency Funding for Iran War, Farmers, and Ebola Response 
The S&P 500 closed lower Thursday as investor optimism over the Federal Reserve’s outlook for two rate cuts in 2025 faded. The Dow Jones Industrial Average dipped 11 points (0.03%), while the S&P 500 and NASDAQ Composite each fell 0.3%. Despite a strong rally Wednesday, uncertainty over Trump’s tariffs and economic slowdown fears kept all three indexes near six-month lows.
Labor market data showed resilience as initial jobless claims inched up to 223,000 from a revised 221,000, slightly below economists' forecast of 224,000. The Fed held interest rates steady at 4.25%-4.5% for a second straight meeting, reaffirming its plan for two cuts by year-end. However, it raised its 2025 inflation forecast to 2.8%, exceeding the 2% target, while trimming its GDP outlook. Fed Chair Jerome Powell cautioned that Trump’s trade policies could impact inflation and growth.
Apple (NASDAQ:AAPL) saw a 0.5% decline amid reports that CEO Tim Cook is revamping its AI strategy, tapping Vision Pro creator Mike Rockwell to lead Siri improvements. Tesla (NASDAQ:TSLA) ended flat after recalling nearly all Cybertrucks in the U.S. due to a defect that could cause exterior panels to detach. Microchip Technology (NASDAQ:MCHP) dropped 6.5% following plans to sell $1.35 billion in convertible stock to reduce debt.
Earnings reports are in focus, with FedEx (NYSE:FDX), Micron Technology (NASDAQ:MU), and Nike (NYSE:NKE) set to release results. Five Below (NASDAQ:FIVE) rose 0.6% on strong Q4 earnings, while Darden Restaurants (NYSE:DRI) surged over 5% after posting better-than-expected fiscal Q3 results.
