Global Markets:
- Asian Stock Markets : Nikkei up 1.80%, Shanghai Composite down 0.46% Hang Seng down 1.00% ASX down 0.56%
- Commodities : Gold at $4,070.37 (-0.29%) Silver at $58.225 (-0.54%), Brent Oil at $78.86 (1.10%), WTI Oil at $74.33 (1.10%)
- Rates : US 10-year yield at 4.580, UK 10-year yield at 4.9811, Germany 10-year yield at 3.0884
News & Data:
- (USD) Crude Oil Inventories 3.0M to -1.9M expected
Markets Update:
S&P 500 futures rose slightly early Thursday after U.S. stocks declined in the previous session amid renewed tensions between the United States and Iran and higher oil prices. Dow futures gained about 70 points, while Nasdaq 100 futures also posted modest gains.
Asian markets mostly rebounded, led by South Korea’s Kospi, which jumped 2.88% after entering bear market territory a day earlier. Japan’s Nikkei 225 advanced 1.88%, while Hong Kong’s Hang Seng edged higher. Australia’s S&P/ASX 200, however, slipped 0.69%.
Geopolitical concerns intensified after the U.S. launched new strikes on Iran following attacks on commercial vessels near the Strait of Hormuz. West Texas Intermediate crude rose nearly 1%, reflecting fears of potential supply disruptions. President Donald Trump also signaled reduced interest in negotiating with Iran, declaring that the previous ceasefire had ended.
On Wednesday, the Dow Jones Industrial Average fell 1.1%, while the S&P 500 lost 0.28%. The Nasdaq Composite bucked the trend, rising 0.2% as Nvidia and other chipmakers gained.
Investors remain concerned that higher energy prices could reignite inflation and delay Federal Reserve interest rate cuts. Minutes from the Fed’s June meeting highlighted policymakers’ caution. Markets will now focus on weekly jobless claims, existing home sales, and PepsiCo’s earnings, while monitoring oil prices and geopolitical developments closely.
Upcoming Events:
- 12:30 PM GMT – USD Unemployment Claims
