Market news
Crypto, stocks, forex and macro, aggregated for traders.
Trump Says Iran Mistaken on IAEA Inspectors, Talks Continue
Donald Trump stated that Iran is wrong about IAEA inspectors and sees no urgent need to deploy them, while negotiations with Tehran are ongoing and a deal remains possible.
India and US Close to Formalizing Interim Trade Agreement, DBS Economist Says
DBS economist Radhika Rao reports that India and the United States are nearing the finalization of an interim trade agreement under a new framework.
Strait of Hormuz Shipping Traffic Nearly Triples in Week
Vessel crossings through the Strait of Hormuz surged from 32 to 93 week-on-week, according to MarineTraffic and Kpler data, signaling a rebound in shipping confidence after recent geopolitical tensions.
US Manufacturing Job Losses Hit Worst Level Since Pandemic
U.S. manufacturers cut jobs at the fastest pace since the COVID-19 pandemic, reflecting growing strain in the industrial sector amid weaker demand, high borrowing costs, and trade policy uncertainty.
SpaceX Bond Sale Attracts $89 Billion in Investor Demand
SpaceX has reportedly drawn $89 billion in demand for its inaugural U.S. bond offering, marking one of the largest investment-grade debt deals this year.
WTI Oil Drops Over 1% as Middle East Tensions Ease and Iran Supply Looms
West Texas Intermediate crude fell more than 1% on Tuesday, trading near $73.00, pressured by reduced geopolitical risk in the Middle East and the prospect of returning Iranian oil supplies.
AI Token Price Collapse Weighs on Big Tech Valuations
Falling AI token prices are raising concerns about the profitability of advanced AI models, putting pressure on hyperscaler stocks like Amazon, Microsoft, Meta, and Alphabet.
US Supreme Court Expands DHS Power Over Green Card Holders
The US Supreme Court ruled 6-3 that DHS can revoke lawful permanent resident status if the holder leaves the US with pending criminal charges, even without a conviction.
France Heatwave Overwhelms Emergency Call Centers as Calls Surge 50%
A severe heatwave in France has led to a 50% increase in calls to SAMU emergency services in the Île-de-France region, straining healthcare response as temperatures rise.
Rand Paul Accuses Fauci of Funding Wuhan Lab Research, Misleading Congress
Senator Rand Paul has revived allegations that U.S. taxpayer funds supported gain-of-function research at the Wuhan Institute of Virology, potentially contributing to the COVID-19 pandemic, and that Dr. Anthony Fauci approved the experiments and later misled Congress.
Fed Rate Hike Probability Jumps to 25% for July Meeting
Markets now see a 25% chance the Federal Reserve will raise interest rates at its July 29 meeting, a sharp reversal from earlier expectations of two rate cuts by that date.
Rabobank Cuts TTF Natural Gas Forecasts on Easing Strait of Hormuz Risks
Rabobank energy strategists lowered their TTF natural gas price forecasts, citing reduced supply risks from the Strait of Hormuz.
Commerzbank Sees Limited Downside for Oil as Iran Sanctions Ease
Commerzbank analyst Carsten Fritsch says Brent crude has dropped below $80, briefly touching $76.5, after the US allowed Iran to export oil until at least August, but sees limited further downside.
TD Securities: Copper Sees CTA Selling as Demand Risks Outweigh Supply Worries
TD Securities notes that copper is experiencing large CTA selling as the market shifts focus from Strait of Hormuz supply risks to macro and demand-side concerns.
Micron Earnings and South Korea Tax News Drive Stock Market Volatility
Micron Technology's upcoming earnings report is fueling market swings similar to Nvidia's 2023-2024 earnings days, while South Korea's proposed tax on unrealized stock gains and record leverage amplify volatility. The broader AI narrative remains intact.
BoC Governor Warns Growing Global Imbalances Risk Financial Stability
Bank of Canada Governor Tiff Macklem stated that rising global imbalances could increase financial stability risks.
US S&P Global Composite PMI Rises to 52.2 in June
The flash estimate of the US S&P Global Composite PMI improved to 52.2 in June from 51.5 in May, indicating expansion in the private sector.
Oil Prices Drop as US Grants 60-Day Waiver on Iranian Exports
Oil prices fell sharply after the US granted a 60-day waiver allowing Iranian exports, compounding pressure from rising flows through the Strait of Hormuz, according to ING analysts.
Wall Street Opens Lower: S&P Drops 1.6%, Nasdaq Falls 2.38%
U.S. stock indices opened sharply lower. The S&P 500 fell 1.61% to 7,352.61, the Nasdaq Composite dropped 2.38% to 25,542.70, and the Dow Jones Industrial Average declined 0.69% to 51,354.54.
NBC Analysts: Warsh Fed Increasing Policy Ambiguity
National Bank of Canada economists argue that a potential Kevin Warsh-led Federal Reserve is deliberately adding uncertainty by removing forward guidance, keeping markets guessing.
Kalshi restricts access for Indian users after regulatory pressure
Prediction market platform Kalshi has added India to a list of 55 jurisdictions where users are barred from the service, following a crackdown by Indian authorities on unlicensed betting and prediction platforms.
Commerzbank: Heatwaves and Outages Support Natural Gas Prices
Commerzbank analysts note that intensifying heatwaves in Europe and Asia are expected to boost electricity demand and gas-fired power generation, putting additional pressure on European storage levels.
Nasdaq 100 Futures Drop 3% on Global Tech Selloff; S. Korea Down 10%
Nasdaq 100 futures fell 3% as tech stocks globally tumbled. South Korea's stock market dropped 10% amid the selloff.
Trump Says Strait of Hormuz to Remain Open, No Naval Blockade; Claims Record Oil Flow
President Trump stated he agreed to keep the Strait of Hormuz open without a naval blockade, adding that 19 million barrels of oil transited the strait yesterday, an all-time high.