Global markets opened the day with mixed signals: U.S. tech stocks gained on Apple’s massive investment plans and chip tariff hopes, while gold prices rose with FED rate cut hopes. The dollar softened ahead of labor data, Bitcoin remained flat amid economic uncertainty, and Vietnam pressed forward with U.S. trade deal talks.
Wall Street Futures Edge Up as Apple Expands U.S. Investment
Apple’s pledge to invest $100 billion in domestic operations including AI and chip manufacturing boosted investor confidence and lifted U.S. stock futures. Global markets are also hopeful that the Biden administration will ease proposed 100% tariffs on semiconductors, further supporting major tech players such as Nvidia, Intel, and AMD.
Gold Gains as Tariff Escalation Fuels Safe-Haven Demand
Gold edged higher, supported by fresh U.S. tariff threats and renewed bets on Federal Reserve rate cuts. Spot gold rose around 0.2% to approximately $3,375/oz, while December futures climbed to about $3,440/oz, driven by concerns over trade disruptions, inflation, and weakening job data. Markets now assign over 90% odds of a Fed rate reduction in September due to mounting economic softness
Dollar Slips Ahead of Jobless Claims; Sterling Eyes BoE Decision
The U.S. dollar weakened slightly as traders awaited weekly jobless claims data and priced in a higher chance of Federal Reserve rate cuts. The British pound held steady, with markets turning attention to the Bank of England’s policy meeting and potential signals about future rate adjustments.
Bitcoin Flat at $114K as Tariff Jitters Limit Risk Appetite
Bitcoin traded sideways near $114,000, struggling to gain momentum amid broader uncertainty in global trade and regulatory signals. While other cryptocurrencies saw slight gains, Bitcoin remained range-bound, reflecting cautious investor sentiment.
Vietnam Pushes for U.S. Trade Deal Finalization
Vietnam announced further negotiations with the U.S. to solidify a bilateral trade deal. Current terms include a 20% tariff on general Vietnamese exports and a 40% duty on goods suspected of circumventing U.S. trade restrictions. Despite this, Vietnam continues to post strong export numbers and is working on compliance reforms.
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