International markets update:
Global markets are navigating a complex landscape of escalating trade tensions, while U.S. equities showed resilience driven by tech sector optimism. Investors are closely watching geopolitical responses to American economic policies.
- Canada announced retaliatory tariffs worth $20 billion on over 700 U.S. goods, including steel and aluminum, directly matching President Trump’s recent import duties following a breakdown in trade talks.
- China is subtly building a hedge against dollar-based sanctions by expanding its Cross-Border Interbank Payment System (CIPS), indicating a strategic move to diversify from dollar-centered finance, though not abandoning it entirely.
- Iran is reportedly negotiating with Oman to establish a temporary joint shipping route and a mine-clearing mission for the critical Strait of Hormuz, potentially sidelining U.S. involvement in ensuring safe navigation.
- Major U.S. indexes advanced overnight, with a particular focus on chip stocks ahead of Nvidia’s earnings; Nvidia shares rose 2% breaking a seven-day losing streak, alongside gains in AMD and Micron Technology.
- OpenAI continues to experience an executive exodus, with the head of data centers, Chris Malone, departing, following recent exits from the revenue chief and another long-time executive, raising questions about internal stability.
- Apple unveiled new Mac Mini and Mac Studio models featuring M5 Pro and the new M6 chips, specifically upgraded for artificial intelligence applications, catering to the growing demand from consumers for AI-capable computers, with prices also increasing.
Stock Market News summarised for the Wall Street Investors Club community.