Market news
Crypto, stocks, forex and macro, aggregated for traders.
US Labor Share of Income Drops to Near Record Low
The proportion of wages in US gross domestic income has fallen to about 43%, near the lowest since records began in 1929, indicating a long-term shift of economic income toward corporate profits and investment income.
Strait of Hormuz Remains Open, U.S. Facilitates Oil Traffic
CENTCOM reports that the Strait of Hormuz is open for commercial shipping, with U.S. forces having assisted the passage of nearly 900 vessels and 450 million barrels of crude oil since early May.
U.S. Strikes on Iranian Military Targets to Secure Strait of Hormuz
U.S. Central Command has conducted strikes on Iranian military command centers, naval assets, and drone facilities to reduce threats to commercial shipping in the Strait of Hormuz.
Euro Holds Gains Above 1.1400 on Hawkish ECB Expectations
EUR/USD trades around 1.1405 during early Asian session, supported by a hawkish European Central Bank tone. Traders await the upcoming ECB interest rate decision.
White House to Redirect $200B in Research Funds Toward AI, Away from Colleges
The White House plans to shift $200 billion in annual research spending toward artificial intelligence, reducing funds for universities in favor of individual scientists to accelerate progress against China.
Japan June Trade Deficit Widens Sharply, Missing Estimates
Japan's trade balance for June came in at a deficit of ¥406.9 billion, far worse than the expected ¥120 billion deficit, as imports surged 25.4% year-on-year.
Global Stocks Surge as Traders Rotate Back into AI and Semiconductors
World stocks rallied on renewed enthusiasm for AI and semiconductor stocks, shrugging off higher oil prices and rising bond yields.
US Strikes Iran Military Targets for 11th Straight Night
US Central Command announced airstrikes on Iranian military targets for the 11th consecutive night, aimed at further degrading Iran's ability to threaten commercial shipping in the Strait of Hormuz.
Iran: US Interests Will Be Targeted If US Strikes Nuclear Sites
Iran's top military command warned it will expand strikes to target US and allied interests across the region if the US attacks its nuclear facilities, according to Xinhua.
Trump to Impose 100% Tariff on Generic Drugs by 2028, Rising to 200% in 2029
President Trump announced a plan to levy a 100% tariff on generic drug imports starting August 2028, escalating to 200% the following year.
Gold Rebounds Above $4,050 as US-Iran Tensions Boost Safe-Haven Demand
Gold price recovered to around $4,080 during Asian trading on Wednesday, rebounding from the $4,000 psychological level as escalating US-Iran tensions fueled safe-haven demand.
Trump Announces Tariff Timeline on Imported Generic Drugs
President Trump proposed a phased tariff plan on imported generic drugs, starting with zero tariffs until August 2028, then rising to 100% and 200%, aimed at bringing production back to the U.S.
Gold Oversold as Debasement Trade Persists
Gold, which peaked at $5,500 in January and was technically overbought, has now flipped to a 'massively' oversold condition, according to analysts citing the ongoing debasement trade.
GBP/JPY Holds Near YTD Peak Above 218.20 as Intervention Fears Cap Gains
GBP/JPY consolidates near 218.20 as the pound loses momentum with new UK Prime Minister Andy Burnham, while Japanese intervention fears limit the pair from breaking its year-to-date high.
China Leads Global Nuclear Reactor Construction with 39 Units Under Way
China now has 39 nuclear reactors under construction, more than the next 12 countries combined, with an average build time of just 2.8 years.
Nvidia Ships Vera Data Center CPU, Competing with Intel and AMD
Nvidia has begun shipping its new Vera data center CPU, marking a move beyond GPUs into direct competition with Intel and AMD in the AI server market.
AUD/USD Flat After Brief Rise Above 0.7050
The Australian Dollar briefly climbed from below 0.7000 to nearly 0.7050 on Tuesday but surrendered all gains during the North American session, ending flat.
Brookfield Infrastructure Announces Simplification; BIP Units to Exchange for Shares
Brookfield Infrastructure Partners announced a corporate structure simplification, with BIP units to be exchanged one-for-one for BIP shares. Special meetings for BIP and BIPC holders are set for October 14, with completion expected in Q4 2026.
Ukraine Appoints Mykhailo Drapatyi as New Commander-in-Chief
Mykhailo Drapatyi, recognized for leading the iconic 2014 Mariupol BMP breakthrough, has been appointed as Ukraine's new commander-in-chief.
Super Micro Computer surges nearly 20% on $60B in new orders
Super Micro Computer (SMCI) shares jumped nearly 20% after the company reported receiving about $60 billion in new orders last quarter. Revenue is expected to grow roughly fivefold year-over-year.
USD/CNH Retains Downside Bias Near 6.7600 – UOB
UOB's Quek Ser Leang says USD/CNH maintains a downside bias in both the 24-hour and 1-3 week horizons, with key support at 6.7600 and strong resistance above.
Iran warns US attack on nuclear sites would trigger regional war
Iran's top joint military command stated that a US attack on its nuclear facilities would be considered an expansion of war, threatening to target all US and allied interests in the region.
US Dollar Rises as Middle East Tensions Lift Oil Prices
The US Dollar advanced on Tuesday amid escalating US-Iran tensions that pushed oil prices higher and revived inflation concerns, while safe-haven demand supported the Greenback despite softer US inflation and employment data.
Short Interest in US Stocks Surges Near Record Highs
Bearish bets on US equities have surged, with short interest in the S&P 500 and Russell 3000 nearing all-time highs and NYSE-listed stock short interest hitting a record 9.0% in late June.