Market news
Crypto, stocks, forex and macro, aggregated for traders.
Londian Wason New Energy Tech Files for IPO on NYSE
Londian Wason New Energy Tech has filed for an initial public offering and plans to list its American depositary shares on the New York Stock Exchange. Underwriters include Cantor, Huatai Securities, CMB International, US Tiger Securities, and Fortune Securities.
Global Stock Market Cap Hits Record $166 Trillion
World equity markets reached a new all-time high market capitalization of $166 trillion, a 23.6% year-over-year increase, according to data cited by The Kobeissi Letter.
Gold Surges Over 2% as Weak US NFP Data Hits US Dollar
Gold (XAU/USD) rallies more than 2% after a weak US employment report reduces the likelihood of a Federal Reserve rate hike, sending the US Dollar and Treasury yields lower. The pair is trading at $4,111.
Societe Generale Expects Lengthy USMCA Talks, No Immediate Breakup
Societe Generale strategist Dev Ashish predicts a drawn-out USMCA renegotiation process rather than an abrupt expiry, citing recent comments from Mexican and US officials that play down the risk of an impasse.
Crude Oil Hits 18-Week Low as War Risk Premium Fades
Crude oil finished Thursday at its lowest level in 18 weeks, fully erasing the risk premium built up from this year's conflict and returning to pre-war prices.
Burnham Calls for Public Control of Water, Energy, and Transport, Signals Tax Changes
UK leadership contender Andy Burnham has proposed greater public control over water, energy, and transport, and indicated room for tax changes within Labour's manifesto.
EU's Kallas: Bosnia's EU future at risk, warns window may close
EU foreign policy chief Kaja Kallas stated that Bosnia and Herzegovina's future lies within the EU, citing over 70% public support for accession. She warned that the window of opportunity may not stay open indefinitely as neighboring countries advance in their EU bids.
Canada to Triple LNG Production Over Next Decade, PM Carney Says
Prime Minister Mark Carney announced plans to accelerate LNG projects and triple production over the next decade, while maintaining the federal north coast tanker ban. British Columbia stated it cannot constitutionally veto an Alberta pipeline but does not support the proposal.
Iran President Vows to Supply 100 Million Barrels of Oil Amid Criticism
Iranian President Pezeshkian states he will back armed forces with full strength, dismisses criticism over a 20 million barrel oil provision to a company, and pledges to supply 100 million barrels in similar future situations.
US Strategic Petroleum Reserve Falls to 40-Year Low, Down 5.5M Barrels
The US Strategic Petroleum Reserve fell by 5.5 million barrels last week to 326 million barrels, the lowest since May 1983. This marks the 13th consecutive weekly decline, with reserves down 89 million barrels over the period.
SpaceX Borrows $25B in Bonds Despite $100B Cash Pile
A market commentary notes that SpaceX, still riding high from the largest listing in history, has issued $25 billion in bonds even though it holds over $100 billion in cash, highlighting a disconnect between stock and bond market sentiment.
Dow Jones Hits Record Despite Weak Jobs Report
The Dow Jones Industrial Average reached a new intraday record after a June jobs report missed expectations by nearly half, a seeming contradiction that reflects market interpretation of the data.
Retail Dip-Buying Hits Historic Extremes, Exceeds Meme Stock Mania
Retail investors are buying equities on S&P 500 down days at a record pace, with average daily purchases 3.5 times the average since 2020 and 56% above the meme stock mania in 2021.
ING: German Reform Package Supports Growth Narrative
ING analyst Carsten Brzeski highlights a new German government reform package aimed at cutting red tape, boosting labour market flexibility, and capping healthcare and pension costs to revive the growth narrative.
Asian Stocks Shed $730B as AI, Semiconductor Rout Worsens
Asian equities lost more than $730 billion in market value as a selloff in AI and semiconductor stocks intensified.
US Beef Prices Hit Record Highs as Cattle Herd Shrinks
US beef prices remain near record highs with ground beef up 13% YoY and steak up 16% YoY, driven by the smallest cattle herd in decades. Consumer demand stays strong, with Fourth of July beef sales rising by $352 million from last year.
S&P 500 Shows Strong July Seasonality With 11-Year Winning Streak
Historical data shows the S&P 500 averages a 2.5% gain in July, over four times the average of other months, and has not declined in July for 11 consecutive years. The index has also posted 24 all-time highs in 2026, historically leading to further gains.
Thailand's Economy to See Narrow Rebound, BoT Rate Steady: UOB
UOB economists expect Thailand's 2Q26 to start stronger than feared, supported by exports and technology-linked investment, but domestic demand remains weak and the Bank of Thailand is seen holding rates steady.
Rabobank: Central Banks Shift to Data-Driven 'Framework Guidance'
Rabobank strategist Michael Every notes that central bankers, including Fed Chair Warsh, are moving away from traditional forward guidance toward data-driven 'framework guidance,' influenced by AI, new inflation measures, and reduced public transparency.
MANN shifts to longer hold bias on inflation persistence
An economist known as MANN says the trade-off between inflation risk and economic activity has led them to place more weight on inflation persistence, shifting their view towards a longer hold and potentially a need to lean against that risk.
Societe Generale: USMCA Annual Reviews Prolong Mexico Uncertainty
Societe Generale's Dev Ashish says the US decision to opt for annual USMCA reviews instead of a 16-year extension prolongs policy uncertainty for Mexico while leaving near-term trade flows intact.
US Hiring Plans Slump 44% in June as Underlying Weakness Persists
US employers announced 10,933 new hiring plans in June, down 44% from May. Year-to-date, hiring rose 10% overall but only due to a 167% surge in tech; excluding tech, plans fell 1% YoY.
US Stock Indices Open Higher, S&P 500 and Dow Lead Gains
The S&P 500 rose 0.26%, the Dow Jones added 0.54%, and the Nasdaq edged up 0.03% at the opening bell.
US Teen Summer Employment Hits Record Low Since 1948
US high school students face the weakest summer job market since 1948, with employers expected to hire only about 790,000 teenagers from May to July—the lowest level on record.