Market news
Crypto, stocks, forex and macro, aggregated for traders.
Iran Tells Houthis to Close Red Sea Oil Route if US Strikes
Iran has reportedly asked Yemen’s Houthi militia to prepare to close the Red Sea oil route if the US attacks Iranian power infrastructure, threatening global energy supplies.
Taylor Farms Lettuce Linked to Parasitic Outbreak Infecting Thousands
A parasitic outbreak tied to iceberg lettuce from Taylor Farms supplied to Taco Bell has infected thousands across five states, with Michigan reporting over 4,000 cases as of Thursday, according to the WSJ.
Trump-Netanyahu Meeting Not Scheduled; Netanyahu Sought to Force It - Axios
According to Axios, no meeting is scheduled between President Trump and Israeli Prime Minister Netanyahu. White House officials say Netanyahu sought to force a meeting, while Trump is reportedly angered by Netanyahu's criticism of a Turkey jet sale.
Gold Drops to Eight-Month Low Below $4,000 as Middle East Tensions Fuel Rate Hike Bets
Gold price (XAU/USD) fell to an eight-month low near $3,975 during early Asian trading on Friday, extending its decline as rising Middle East tensions stoked inflation concerns and reinforced expectations of higher US interest rates.
Coca-Cola Suspends U.S. Fairlife Production After Ransomware Attack
Coca-Cola has temporarily halted production of its Fairlife brand in the U.S. following a ransomware cyberattack that compromised parts of its production systems. The company is investigating the breach while working to restore operations.
Fed's Jefferson Says Policy 'Well Positioned' to Support Jobs, Inflation
Federal Reserve Vice Chair Philip Jefferson stated that current monetary policy is appropriately positioned to support the labor market and allow inflation to return to 2% as tariff effects and energy price shocks fade.
Fed's Jefferson: Current Policy Stance Supports Labor Market and Disinflation
Federal Reserve Vice Chair Philip Jefferson stated that the current monetary policy stance is well positioned to support the labor market and continue the disinflation process while maintaining flexibility for changing conditions.
Chip Stocks Slide as Strong Earnings Fail to Calm AI Concerns
Semiconductor stocks fell despite robust earnings reports, as lingering doubts about the AI trade and a mix of smaller headwinds weighed on sentiment in thin summer trading.
BoK Hikes 25bp to 2.75%, Hawkish Guidance on GDP and Inflation
The Bank of Korea raised its policy rate by 25 basis points to 2.75%, with guidance that GDP and core inflation will exceed earlier forecasts, according to BNY's Geoff Yu.
WTI Crude Oil Fails Again at $80 Resistance, Drops Below $79
West Texas Intermediate crude oil fell about 1% to below $79 after failing to breach the $80 level for the third consecutive time, with the 50-day EMA providing stiff resistance.
AUD/USD Stalls at 0.7000 for Fourth Straight Session
The Australian Dollar remains flat against the US Dollar, pinned to the 0.7000 level for a fourth consecutive session.
Sterling Slips Below 1.3500 as New UK PM Faces Familiar Headwinds
GBP/USD fell nearly 0.5% to below 1.3500 after failing to clear 1.3550 for a second straight day. The British pound weakens as a new Prime Minister takes office amid ongoing economic challenges.
China's July Politburo Meeting Expected to Shift to Easing Tone
Beijing is likely to adopt stronger easing language at the July Politburo meeting after a weak second quarter, though expectations for a large stimulus package should remain tempered.
GBP/JPY Retreats from 18-Year High, Yen Recovers
The GBP/JPY pair retreated from a new 18-year high of 219.62 on Wednesday, falling to 218.80 on Thursday as the Japanese Yen recovered strength.
USD/CNH Faces Potential Decline to 6.7600, Says UOB
UOB analysts note that USD/CNH downside momentum is building after the pair slipped to 6.7653, with a possible test of major support at 6.7600.
S&P 500 Bull Run Among Strongest in History Since 1928
The current bull market has seen the S&P 500 gain 95% since end-2022, placing it in the top 10% of all bull markets since 1928. The median historical gain over 3.5 years is roughly 35%.
Hawkish BoK Hike Supports South Korean Won, Says BBH
Brown Brothers Harriman notes the Korean Won is outperforming after the Bank of Korea's hawkish 25 bps hike to 2.75%, with expectations that growth and core inflation will exceed 2026 forecasts.
Thai Baht Overvaluation Signals Weakness vs US Dollar: MUFG
MUFG analyst Lloyd Chan warns that the Thai baht's overvaluation is likely to lead to weakness against the US dollar, despite softer US inflation data weakening the greenback.
USD/CHF Rebounds from 0.8042 Support, Bulls Target 0.81
USD/CHF reversed course, rising over 0.40% as the dollar recovered amid risk aversion, Middle East tensions, and strong US data. The pair bounced from 0.8042 support and now trades near 0.8088, with bulls eyeing the 0.81 level.
Coca-Cola's Fairlife Halts US Production After Ransomware Attack
Coca-Cola's Fairlife brand temporarily suspended U.S. production following a ransomware incident that disrupted system access. The company says product quality and safety remain unaffected, and Canadian operations are not impacted.
US Dollar Rises on Resilient Labor Data; Oil and Gold Fall
The US Dollar Index climbed toward 100.80 after initial jobless claims fell to 208K, below the expected 217K. Meanwhile, oil and gold prices declined.
Chip Selloff Drags U.S. Stocks Lower on AI Spending Returns Doubts
U.S. stocks fell as a 4.3% drop in chipmakers fueled concerns over AI investment returns, with the Nasdaq 100 down 1.6% and Alphabet sliding 4.4% on reports of AI model delays.
BHP High-Voltage Workers Vote Overwhelmingly for Industrial Stoppages
97.5% of BHP high-voltage workers have endorsed industrial stoppages after four months of targeted work bans, according to the Electrical Trades Union.
Intuitive Surgical Q2 Revenue Beats Estimates, EPS $2.80 vs $2.50 Est.
Intuitive Surgical reported Q2 revenue of $2.892B, beating the $2.820B consensus. Adjusted EPS of $2.80 also topped the $2.50 estimate, and the company guided for FY da Vinci procedure growth of ~13.5%-15.5%.