Market news
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Fed's Hawkish Tilt, Tech Stocks Slide, UK PM Starmer Resigns
US stock indices fell as tech giants Alphabet, Amazon, and Microsoft dropped sharply amid a hawkish Fed stance, while UK Prime Minister Starmer resigned.
WTI Slumps Below $73 as US-Iran Peace Talks Continue
West Texas Intermediate crude oil fell below $73 per barrel, reaching its lowest level since early March, as traders monitor ongoing US-Iran peace negotiations.
Apollo Retail Private Credit Fund Sees Redemption Requests Surge to 17%
Redemption requests at Apollo's flagship retail private credit fund rose to 17% of assets in Q2, and investors sought to withdraw nearly $15 billion from nine major private credit funds.
Strait of Hormuz Uncertainty Disrupts Global Shipping Operations
Conflicting guidance from Iran, the US, and western insurers over transit through the Strait of Hormuz is creating operational challenges for tanker and commercial shipping firms.
Tesla's EU Market Share Rises to 2.5% in May, BYD at 2.8%
In May, Tesla's market share in the EU, Britain, and EFTA rose to 2.5%, while BYD held 2.8%. The BEV segment accounted for 10.66% of the market, according to the European Automobile Manufacturers Association (ACEA).
Chinese Chip Exports Surge 111% YoY in May to Record $36B on AI Demand
China's semiconductor exports surged 111% year-on-year in May to a record $36 billion, driven by AI infrastructure spending and global shortages. Computer exports also jumped 66% to $27 billion, together accounting for roughly half of China's trade growth.
Elon Musk Calls for Arrest of Ro Khanna After DOJ Bribery Case
Elon Musk called for the arrest of Representative Ro Khanna following a Department of Justice announcement that a USAID official and several business executives pleaded guilty in a bribery scheme involving over $550 million in government contracts.
White House Sees Momentum Toward Iran Deal as Trump Pressure Shows Results
Press Secretary Karoline Leavitt stated that President Trump would not agree to any deal that fails to protect U.S. national security, noting growing momentum toward an agreement with Iran.
US Moves to Keep Early-Stage Drug Research Domestically as Pharma Shifts Trials Abroad
U.S. officials are taking new steps to encourage pharmaceutical companies to conduct early-stage research and clinical studies domestically, as drugmakers increasingly move trials to China and Australia for faster and cheaper execution.
AI Boom Drives Extreme Concentration in Asia Markets as Chip Giants Dominate
Samsung Electronics and SK Hynix together account for roughly 55% of South Korea's Kospi index, while Taiwan Semiconductor Manufacturing Company alone represents about 42% of Taiwan's Taiex index, highlighting growing concentration risk.
US Debt Interest Costs Hit Record $723 Billion in First 8 Months of FY2026
Federal net interest payments rose 9% YoY to $723 billion, making interest costs the second-largest federal spending category after Social Security. The CBO projects $16.2 trillion in net interest costs over the next decade.
WTI remains vulnerable near $74 as US lifts Iran sanctions
WTI crude oil consolidates around $74 per barrel amid reports that the US is lifting sanctions on Iran, which could increase global supply.
JPMorgan CEO Questions American Consumer Resilience
Marianne Lake, CEO of Consumer and Community Banking at JPMorgan Chase, recently affirmed the narrative of resilient American consumers. However, the post questions whether that label is accurate.
Kevin Warsh’s Fed Rhetoric May Mask Policy Continuity
A new 'sheriff' at the Federal Reserve, Kevin Warsh, sounds different from Jerome Powell but may enforce the same monetary policy laws, according to market commentary.
Japan June Flash Manufacturing PMI Rises to 54.9, Composite Hits 52.5
Japan's preliminary June manufacturing PMI increased to 54.9 from 54.5, while the composite PMI rose to 52.5 from 51.1, indicating faster private-sector growth and a strengthening economic recovery.
US VP Vance: Talks with Iran Making 'Very Good Progress'
US Vice President JD Vance stated that negotiations between the US and Iran have advanced significantly, despite Iran's 'threatening' and 'whining' behavior, as reported by CNBC.
Australia June Flash Manufacturing PMI Rises to 51.2, Services Improve but Still in Contraction
Australia's June flash manufacturing PMI rose to 51.2 from 50.7, indicating expansion. Services PMI improved to 49.9 but remained below the 50 threshold, signaling ongoing contraction.
Trump Signs Executive Orders to Accelerate Quantum Computing Development
President Trump has signed two executive orders to boost quantum computing development, including a goal to deploy a quantum computer capable of scientific research by 2028. The orders also address preparation for encryption-breaking quantum systems, coinciding with billions in Commerce Department funding for quantum firms.
Fed's Goolsbee Warns Inflation Moving Further Above Target
Chicago Fed President Austan Goolsbee struck a cautious tone on inflation, warning it is moving further above target and more evidence is needed before declaring price pressures temporary. He supports less forward guidance on rates and warns against excessive speculation.
Ukraine and Japan to Launch Joint Reconstruction Fund with Hitachi and Toshiba Support
Ukraine and Japan are set to announce a joint reconstruction fund backed by Hitachi, Toshiba, and Japanese institutions, with details expected at this week's Ukraine Recovery Conference.
Israel Vows to Continue Operations in Southern Lebanon to Neutralize Threats
Israel will maintain military operations in southern Lebanon to neutralize threats and dismantle terror infrastructure, according to a joint statement from top officials.
Trump and Iran at Odds Over Terms of Signed 60-Day Framework
A week after signing a 60-day framework aimed at winding down hostilities and reopening the Strait of Hormuz, the U.S. and Iran cannot agree on the document's actual terms.
Fed's Goolsbee: Inflation Well Above Target, Moving Wrong Direction
Chicago Fed President Austan Goolsbee defended his dissent, stating inflation remains well above the central bank's target and moving in the wrong direction. He also noted a stable labor market but expressed concern over services inflation, calling for more evidence that price pressures are temporary.
Taiwan and South Korea Equity Inflows Hit Unprecedented Levels
Equity fund inflows into Taiwan have surged to 155% of assets under management since January 2024, the highest globally, with South Korea at 150%. Both markets are running at least 500% above others, and South Korea leads year-to-date at 45% of AUM.