Warsh and US Inflation Will Set Tone for July Fed Decision
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(Bloomberg) — Kevin Warsh is about to make his first appearance before Congress as Federal Reserve chairman, and during two days of testimony he’ll have new US inflation data to parse with lawmakers.
S&P 500 Rises Before Earnings as SK Hynix Debuts: Markets Wrap
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(Bloomberg) — Wall Street traders drove stocks higher in the countdown to the earnings season, with SK Hynix Inc. jumping in its debut and the market parsing the latest geopolitical developments.
Stocks Get Boost From Chipmakers as Oil Declines: Markets Wrap
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(Bloomberg) — A resurgence in giant chipmakers powered a rebound on Wall Street, with stocks also rising amid a decline in oil prices as traders looked past fresh hostilities between the US and Iran.
Swiss See ‘Good Chance’ of a Lasting 15% Tariff Deal With US
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(Bloomberg) — There is a “good chance” Switzerland will secure a lasting trade deal with the US at 15% tariff rates to put last summer’s economic spat behind it, according to the country’s top trade diplomat.
Thailand Approves $688 Million Investment by Nestle for Smart Factory, Distribution Center
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(Bloomberg) — Thailand greenlit nine investment projects worth a combined 66.3 billion baht ($2 billion), anchored by a plan from Nestle Thai Co. to build a smart factory, as it seeks to attract higher-value manufacturing and technology supply chains.
Stocks Fall as US-Iran Jitters Spur Rally in Oil: Markets Wrap
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(Bloomberg) — A flare-up in geopolitical risks sent stocks and bonds lower as oil jumped after President Donald Trump said a ceasefire with Iran may be over, raising concerns about a potential return to all-out war.
Schlegel Reaffirms Increased SNB Willingness to Intervene on FX
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(Bloomberg) — Swiss National Bank President Martin Schlegel reiterated policymakers’ stance on the franc, with the outlook for consumer prices unmoved since June’s interest-rate meeting.
Coffee Trader Seeks to Shield More Vietnam Growers From Weather
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(Bloomberg) — Major coffee trader ECOM Agroindustrial Corp. is pushing for a fivefold increase in the number of growers covered by its specialty weather insurance in Vietnam, where the industry depends on thousands of smallholder farmers increasingly exposed to climate risk.
Chip Stocks Sink After Blistering Run as Oil Jumps: Markets Wrap
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(Bloomberg) — Wall Street was rattled by a selloff in chipmakers on concerns over whether massive artificial-intelligence investments will justify lofty valuations while a jump in oil prices boosted bond yields.
IOC Provisionally Lifts Suspension of Russian Olympic Committee
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(Bloomberg) — The International Olympic Committee provisionally lifted the suspension of the Russian Olympic Committee, saying as the qualification period of the 2028 Los Angeles Games had started all athletes needed to be offered equal access to the competition.
WEF Founder Schwab Claims He Found Spying Device at His Home
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(Bloomberg) — World Economic Forum founder Klaus Schwab has filed a criminal complaint following the alleged discovery of a secret listening device planted in his home office in Geneva.
Singapore, Zurich Top Costliest Cities for Luxury Spending
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(Bloomberg) — Singapore is the world’s most expensive city for luxury spending for a fourth consecutive year, as prices on items such as watches and jewelry surge around the globe.
Tech Giants Drive Stock Gains in AI Trade Revival: Markets Wrap
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(Bloomberg) — A rally in several technology giants lifted stocks amid speculation that the artificial-intelligence trade that has powered the bull market has more room to run.
Trump’s War Means Higher Global Interest Rates for Years to Come
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(Bloomberg) — Donald Trump’s war against Iran may be over, but the repercussions for global monetary policy are here to stay.
Insider Trading Cases End as DOJ Dud With Few Prison Sentences
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(Bloomberg) — Sitting at home in the south of France, beyond the reach of US law enforcement for the better part of a decade, former Moelis and Co. banker Benjamin Taylor made what seemed like a brave choice. He returned to the US to face an insider trading charge that carried as much as five years behind bars.
European Stocks Rally to Cap Best Week Since May: Markets Wrap
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(Bloomberg) — Stocks rose as the latest round of jitters about the artificial-intelligence trade subsided, with Europe’s benchmark rising to an all-time high. The dollar touched a two-week low while gold extended gains.
iCON Infrastructure to Buy Northern Fiber in Rescue Deal
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(Bloomberg) — Lenders of Northern Fiber Holding GmbH, a struggling German fiber-network operator formerly owned by UBS Asset Management, are finalizing the sale of the company to iCON Infrastructure to avoid a looming insolvency.
Dow Average Hits Peak as Jobs Ease Fed-Hike Worry: Markets Wrap
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(Bloomberg) — A sharp slowdown in the US jobs market spurred gains in most stocks on Wall Street amid speculation the Federal Reserve won’t be forced to raise interest rates any time soon.
UBS Attacks Swiss Central Bank for ‘Misleading’ Stability Report
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(Bloomberg) — UBS Group AG has criticized the Swiss National Bank for a “misleading” regulatory report on the lender’s readiness for stricter capital rules.
UBS Has Enough Capital to Meet Government Demands, SNB Says
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(Bloomberg) — UBS Group AG already has enough capital to meet proposed new requirements in the reform pushed by the Swiss government, according to the Swiss National Bank.
