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- S&P 500 Climbs on AI Enthusiasm:<\/strong> The S&P 500 rose 0.61% to close at 6,263.26, supported by a rebound in Big Tech and optimism around artificial intelligence. Nvidia gained 1.8% and briefly became the world\u2019s first $4 trillion company.\u00a0<\/li>\n\n\n\n
- Nasdaq Ends at Record High:<\/strong> The Nasdaq Composite advanced 0.94% to a new closing high of 20,611.34, led by strong gains in Microsoft, Meta Platforms, Alphabet, and Amazon. AI momentum and strength in chip and software stocks were the primary catalysts.\u00a0<\/li>\n\n\n\n
- Dow Rises as Broader Market Holds Up:<\/strong> The Dow Jones Industrial Average added 217.54 points, or 0.49%, to finish at 44,458.30. Boeing led gains in the index after reporting the highest monthly aircraft deliveries in 18 months.\u00a0<\/li>\n\n\n\n
- European Markets Approach One-Month Highs:<\/strong> European equities rose on Wednesday, with the STOXX 600 climbing 0.8% to 549.97 and the STOXX 50 jumping 1.37%. Germany\u2019s DAX advanced 1.42%, while France\u2019s CAC 40 and Italy\u2019s FTSE MIB gained 1.38% and 1.59% respectively. The FTSE 100 in London was up a modest 0.14%. Investors reacted to escalating trade threats from Washington, including a surprise 50% tariff on copper and warnings of potential levies on EU tech-linked exports. Nonetheless, the banking and aerospace sectors led gains, with UniCredit rising sharply and defence stocks hitting fresh records. Weakness in mining shares weighed on the broader index, with Glencore and Anglo American both declining amid falling copper prices.<\/li>\n\n\n\n
- Asia Ends Mixed as Tariff Tensions Weigh:<\/strong> Asia-Pacific markets delivered a mixed performance after Trump reaffirmed his August 1 tariff deadline. Japan\u2019s Nikkei 225 rose 0.33% to 39,821.28, lifted by strong earnings from Sumitomo Pharma and Nissan Chemical. South Korea\u2019s Kospi added 0.6%, while the Kosdaq climbed 0.78%. Chinese equities underperformed as the Hang Seng lost 1.06% and the CSI 300 slipped 0.18%. Inflation data showed marginal improvement in consumer prices, but deeper deflation in producer prices raised fresh economic concerns. Australia\u2019s ASX 200 dropped 0.61%, and Indian benchmarks edged lower amid global trade uncertainty and profit-taking pressure.<\/li>\n\n\n\n
- Oil Holds Flat Despite Supply Risks and Stock Build:<\/strong> Brent crude settled at $70.19 and WTI at $68.38, both posting marginal gains of less than 0.1%. Prices held firm despite a surprise 7.1 million barrel build in US crude inventories, which countered expectations of a drawdown. Renewed attacks in the Red Sea added tension, while OPEC+ confirmed further production increases for August. The group is set to raise supply by 548,000 barrels per day, including the UAE’s upgraded quota, signalling more output flexibility as demand remains uneven.<\/li>\n\n\n\n
- Treasury Yields Fall as Fed Eyes Rate Cuts:<\/strong> US Treasury yields fell after Fed minutes revealed a growing inclination toward rate cuts later this year. The 10-year yield dropped nearly 8 basis points to 4.342%, while the 30-year yield slipped to 4.873%. The 2-year yield moved down to 3.86%. Policymakers unanimously agreed to hold rates steady in June, but \u201cmost participants\u201d noted that easing would likely be needed amid signs of slowing economic growth and softening labour conditions.\u00a0<\/li>\n<\/ul>\n\n\n\n
FX Today:<\/strong><\/p>\n\n\n\n
![\"\"](\"https:\/\/www.infinox.com\/global\/wp-content\/uploads\/sites\/5\/2025\/07\/Currency-Strenght-10July25.png\")
<\/figure>\n\n\n\n- \n
- EUR\/USD Stalls Below Key Resistance Near 1.1800:<\/strong> EUR\/USD slipped 0.02% to close at 1.1722 on Wednesday, trading in a narrow range between 1.1729 and 1.1689. The pair formed a small-bodied candle with upper and lower shadows, indicating a temporary pause after recent strong gains. Although still supported above the 50-day and 100-day SMAs at 1.1445 and 1.1196 respectively, upside momentum has faded. The 1.1800 level remains a tough ceiling, and the inability to break higher raises the risk of a pullback. A move below 1.1650 could expose deeper support near 1.1550, while a close above 1.1800 would be required to resume the rally.<\/li>\n\n\n\n
- GBP\/USD Rejected Again at 1.2850 as Momentum Weakens:<\/strong> GBP\/USD dropped 0.21% to settle at 1.2797 after failing to sustain early strength. The pair moved between 1.2843 and 1.2785, forming a small bearish candle with a long upper wick that signalled another rejection at the 1.2850 zone. This was the third failed attempt in five sessions, suggesting buyers are losing conviction. Despite holding above the 50- and 100-day SMAs at 1.2630 and 1.2525, the short-term structure shows signs of fatigue. A break below 1.2750 would open the way toward 1.2670, while clearing 1.2850 is needed to regain bullish traction.<\/li>\n\n\n\n
- USD\/CAD Fails to Reclaim 1.3700 Amid Ongoing Range Trade:<\/strong> USD\/CAD rose 0.14% on Wednesday to close at 1.3682 after rebounding from an intraday low of 1.3646. Despite the modest recovery, the pair continued to stall beneath the 1.3700 mark, where it has faced repeated rejection throughout the month. The price remains locked between the 100-day SMA at 1.3613 and the 50-day at 1.3735, highlighting a lack of directional conviction. A close above 1.3700 could trigger a run toward 1.3790, but failure to break higher may leave the pair vulnerable to renewed weakness below 1.3650.<\/li>\n\n\n\n
- USD\/JPY Pulls Back After Hitting Resistance Near 147.20:<\/strong> USD\/JPY closed at 146.28 on Wednesday, down 0.18% after reaching as high as 147.18 earlier in the day. The pair printed a bearish candle with a long upper wick, signalling strong intraday rejection from the 100-day SMA near 145.87. This marks the second time in July the pair has failed to hold above the 147.00 level, reinforcing it as a firm resistance zone. While still trading above the 50-day SMA at 144.71, the upside momentum appears to be fading. Key support is now seen at 145.50, with a deeper slide potentially testing 144.30 if pressure builds.<\/li>\n\n\n\n
- Silver Holds Below $37.00 as Momentum Fades:<\/strong> Silver dropped 1.03% to settle at $36.36 after touching a high of $36.77 before slipping back. The session produced a small-bodied candle with a noticeable upper wick, signalling another rejection beneath the $37.00 ceiling. Despite the pullback, the metal continues to trade above the key $36.00 support and is holding its recent consolidation range intact. The 50-day SMA at $34.52 remains supportive, along with the 100-day and 200-day averages far below. A break below $36.00 would shift focus to $35.00, while a confirmed close above $37.00 is needed to revive bullish momentum.<\/li>\n\n\n\n
- Gold Rises but Stays Capped Below Key Moving Average:<\/strong> Gold gained 0.40% to close at $3,315 after trading between $3,282 and $3,317 during the session. The precious metal closed near session highs with a modest bullish body, showing buyers stepped in on intraday weakness. However, the 50-day SMA at $3,320 remains firm resistance and has limited upside for several weeks. Despite support from the 100- and 200-day SMAs at $3,185 and $2,936 respectively, gold has carved a series of lower highs since mid-June. A close above $3,320 would be needed to revive bullish sentiment, while a drop below $3,280 could trigger a retest of $3,240.<\/li>\n<\/ul>\n\n\n\n
Market Movers:<\/strong><\/p>\n\n\n\n
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- Nvidia Hits $4 Trillion Milestone as AI Stocks Surge:<\/strong> Nvidia (NVDA) rose 1.8% on Wednesday and briefly touched a $4 trillion market capitalisation, leading gains among the so-called Magnificent Seven. Microsoft, Alphabet, Amazon, and Meta Platforms all closed up more than 1%, while Apple gained 0.54%.<\/li>\n\n\n\n
- Homebuilders Rally on Strong Mortgage Demand:<\/strong> DR Horton (DHI) surged over 5% after mortgage applications for new home purchases rose 9.4% last week, hitting a 2.5-year high. Other builders including Toll Brothers (TOL), Lennar (LEN), and PulteGroup (PHM) each jumped more than 4% as falling yields improved housing affordability.<\/li>\n\n\n\n
- Crypto Stocks Rise with Bitcoin Hitting Fresh Highs:<\/strong> Cryptocurrency-linked stocks jumped as Bitcoin gained more than 2% to a new record. Coinbase Global (COIN), MARA Holdings (MARA), and Riot Platforms (RIOT) all rose over 5%, while MicroStrategy (MSTR) gained more than 4%.<\/li>\n\n\n\n
- AES Corp Soars on Sale Speculation:<\/strong> AES Corp (AES) jumped more than 19% after news reports said the company is exploring a potential sale amid takeover interest.\u00a0<\/li>\n\n\n\n
- Bloom Energy Rallies After JPMorgan Upgrade:<\/strong> Shares of Bloom Energy (BE) climbed over 17% after JPMorgan upgraded the stock to overweight from neutral and issued a $33 price target.<\/li>\n\n\n\n
- Aehr Test Systems Slides After Weak Results:<\/strong> Aehr Test Systems (AEHR) plunged over 12% after reporting fourth-quarter revenue of $14.1 million, down 15% year-on-year. The weak performance sparked concerns over demand softness in the semiconductor testing sector.<\/li>\n\n\n\n
- Verona Pharma Soars on $10 Billion Merck Takeover:<\/strong> Verona Pharma (VRNA) jumped over 20% after Merck (MRK) confirmed it will acquire the UK-based biotech in a $10 billion deal. Merck shares also rose more than 2%, supported by investor approval of the transaction\u2019s strategic fit.<\/li>\n<\/ul>\n\n\n\n
Markets largely retained their upward momentum on Wednesday, even as trade tensions deepened following President Trump\u2019s latest tariff escalation. A surprise 50% duty on Brazilian goods in retaliation for the Bolsonaro trial and widening trade deficit marked a sharp new front. While equity indices in the US and Europe held firm, the mood remains cautious as investors await further clarification on sector-specific levies and potential retaliatory measures. Treasury yields declined as Fed minutes reinforced expectations for rate cuts, but geopolitical risks are mounting. With tariff deadlines fast approaching and new threats emerging, upcoming data and corporate guidance will be key in determining whether bullish sentiment can hold.<\/p>\n","protected":false},"excerpt":{"rendered":"
Tech optimism returned on Wednesday as the Nasdaq closed at a fresh record, driven by strong gains in Nvidia and other AI-linked names. Broader sentiment remained resilient despite escalating trade tensions, with investors largely brushing off new tariff announcements from President Trump. European stocks edged higher, nearing one-month peaks, while Asian markets ended mixed afterContinue Reading<\/a><\/p>\n","protected":false},"author":28,"featured_media":22557,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[110,1,112],"tags":[140,138,136],"class_list":["post-22555","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-espresso-morning-call","category-ix-intel","category-market-news","tag-international-news","tag-market-updates","tag-whats-new"],"acf":[],"aioseo_notices":[],"lang":"en","translations":{"en":22555,"zh_cn":22559,"zh_tw":22561,"vi":22563,"th":22565,"ko":22567,"pt":22569,"es":22571},"pll_sync_post":[],"_links":{"self":[{"href":"https:\/\/www.infinox.com\/global\/wp-json\/wp\/v2\/posts\/22555","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.infinox.com\/global\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.infinox.com\/global\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.infinox.com\/global\/wp-json\/wp\/v2\/users\/28"}],"replies":[{"embeddable":true,"href":"https:\/\/www.infinox.com\/global\/wp-json\/wp\/v2\/comments?post=22555"}],"version-history":[{"count":0,"href":"https:\/\/www.infinox.com\/global\/wp-json\/wp\/v2\/posts\/22555\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.infinox.com\/global\/wp-json\/wp\/v2\/media\/22557"}],"wp:attachment":[{"href":"https:\/\/www.infinox.com\/global\/wp-json\/wp\/v2\/media?parent=22555"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.infinox.com\/global\/wp-json\/wp\/v2\/categories?post=22555"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.infinox.com\/global\/wp-json\/wp\/v2\/tags?post=22555"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
- Homebuilders Rally on Strong Mortgage Demand:<\/strong> DR Horton (DHI) surged over 5% after mortgage applications for new home purchases rose 9.4% last week, hitting a 2.5-year high. Other builders including Toll Brothers (TOL), Lennar (LEN), and PulteGroup (PHM) each jumped more than 4% as falling yields improved housing affordability.<\/li>\n\n\n\n
- GBP\/USD Rejected Again at 1.2850 as Momentum Weakens:<\/strong> GBP\/USD dropped 0.21% to settle at 1.2797 after failing to sustain early strength. The pair moved between 1.2843 and 1.2785, forming a small bearish candle with a long upper wick that signalled another rejection at the 1.2850 zone. This was the third failed attempt in five sessions, suggesting buyers are losing conviction. Despite holding above the 50- and 100-day SMAs at 1.2630 and 1.2525, the short-term structure shows signs of fatigue. A break below 1.2750 would open the way toward 1.2670, while clearing 1.2850 is needed to regain bullish traction.<\/li>\n\n\n\n
- Nasdaq Ends at Record High:<\/strong> The Nasdaq Composite advanced 0.94% to a new closing high of 20,611.34, led by strong gains in Microsoft, Meta Platforms, Alphabet, and Amazon. AI momentum and strength in chip and software stocks were the primary catalysts.\u00a0<\/li>\n\n\n\n