Overnight moves in forex, gold, silver, oil and the major indices, plus the headlines that drove them. Read it with your morning coffee.
The market took a day to price Wednesday night's earnings and then hammered them: Tesla fell 14% on an earnings miss and Alphabet 7% on its $195 to $205 billion capex plan, dragging the Nasdaq down 2.15%. Brent broke above $100 after Houthi attacks on two Saudi tankers, and gold reversed 1.97% lower as September Fed hike odds reached 78%.
Read the wrap → Wednesday, July 22, 2026Alphabet and Tesla both posted record revenue after the close and fell anyway, as Alphabet lifted 2026 capex guidance to $205 billion and Tesla's operating margin collapsed to 1.4% with negative free cash flow. Brent surged 5.3% to $95 on an eleventh night of Iran strikes, and gold rose to $4,123 as September hike odds hit 70%.
Read the wrap → Monday, July 20, 2026An early semiconductor rally faded and Apple fell about 2% to drag the Dow down 0.59%, while a tenth day of the Iran conflict lifted oil and pushed markets to price roughly a 55% chance of a September Fed hike. Gold clung to $4,000 near a nine-month low and the yen slid toward 162.5.
Read the wrap → Thursday, July 16, 2026A semiconductor and AI selloff pulled the Nasdaq down 1.47% and the S&P down 0.51% off record highs, with Micron, AMD and Broadcom each about 5% lower and Alphabet off 4% on an AI-model delay. Gold fell nearly 2% back below $4,000, while the Iran conflict widened toward a possible second chokepoint in the Red Sea.
Read the wrap → Wednesday, July 15, 2026A soft June producer-price report reinforced the cooling-inflation story, powering a megacap rally that lifted Apple 4% to an all-time high, with Microsoft, Amazon and Alphabet up around 3%. Gold held near $4,058 and Brent edged to a one-month high near $85 as a possible Kharg Island seizure came into focus.
Read the wrap → Tuesday, July 14, 2026A softer-than-expected June inflation report eased Fed rate-hike fears, lifting stocks and sending gold up 2% back above $4,000. Bank earnings were strong and IBM sank 25%, while Brent held near $85 and Trump abandoned the planned Hormuz toll.
Read the wrap → Monday, July 13, 2026Iran declared the Strait of Hormuz closed "until further notice" (the US denied it) after a fourth US strike in a week, and the risk premium roared back. Brent rose 2.76% to about $78, gold fell 1.28% below $4,100 on higher rate-hike bets, and the dollar firmed against all its G10 peers.
Read the wrap → Thursday, July 9, 2026US stocks rallied despite a second day of strikes on Iran: a chip rebound (Micron +5.2%, Sandisk +7.6%) lifted the Nasdaq 1.30%, the S&P 0.81% and the Dow 0.27%. With tankers still crossing the Strait of Hormuz, Brent eased back toward $76 and gold steadied above $4,100 on a softer dollar.
Read the wrap → Wednesday, July 8, 2026President Trump declared the Iran ceasefire over and threatened Iran's main oil-export terminal, sending Brent surging 6.38% to about $79 and the Dow down roughly 577 points. The S&P dipped just 0.28% and the Nasdaq rose 0.20%, while gold fell for a second day, down 0.79% to $4,073, as hawkish Fed minutes revived rate-hike fears.
Read the wrap → Tuesday, July 7, 2026 · ChinaChinese stocks slid to one-month lows on domestic growth fears: the World Bank cut China's growth forecast to 4.4% for 2026, and Beijing set a GDP target of 4.5-5.0%, its lowest since 1991. The Shanghai Composite fell 1.26%, Shenzhen 1.24% and the Hang Seng 0.5%, led lower by property and consumer names.
Read the analysis → Tuesday, July 7, 2026A returning chip rout (Intel −9.7%, AMD −6.5%, Micron −4.7%) dragged the Nasdaq down 1.16% and pulled the Dow off Monday's record, after Samsung's results and reports of a China DeepSeek AI chip spooked semis. Brent surged about 2.5% to $76 after US air strikes on Iran and a revoked oil waiver; gold fell 1% despite the escalation.
Read the wrap → Monday, July 6, 2026A quiet post-holiday session led by FX: the yen weakened toward 162 (USD/JPY +0.31% to 161.87), giving back roughly half its July 2 spike as Tokyo again declined to intervene. Gold held firm near $4,160, keeping almost all of its jobs-day gain, the euro was flat, and Brent eased as OPEC+ lifted output.
Read the wrap → Thursday, July 2, 2026The US added just 57,000 jobs in June, half the forecast, cooling Fed rate-hike bets. The dollar fell, gold surged 2.41% off eight-month lows and the euro and yen firmed (with USD/JPY down to 161.34 on intervention jitters). Stocks split: the Dow hit a record while the tech-heavy Nasdaq slid about 1.6%.
Read the wrap → Wednesday, July 1, 2026The third quarter opened with profit-taking in the first half's winners: Micron fell 10.6% and its peers slid, dragging the Nasdaq down 0.66%, while the S&P eased and the Dow held near a record. Meta jumped 8.8% on a cloud pivot, gold rebounded above $4,000 off eight-month lows, and Brent slid to its lowest since February.
Read the wrap → Tuesday, June 30, 2026US stocks rose again on quarter-end, the Nasdaq up 1.52% and the Dow at another record as chips extended their rebound, capping the best quarter since 2020 (S&P ~+14%, Nasdaq ~+20%). Gold held just above $4,000 but ended June down about 11%, a fourth straight monthly loss; Brent eased to $73.41.
Read the wrap → Monday, June 29, 2026A broad risk-on rally: the Dow closed above 52,000 for the first time as Alphabet debuted in the index and jumped 5%, the S&P rose 1.18% and the Nasdaq surged 2.07% to snap a five-day slide on a chip-stock rip. Easing US-Iran tensions drove the move; gold slipped about 1% toward $4,040.
Read the wrap → Saturday, June 27, 2026The Nasdaq fell for a fifth straight session on tech rotation and a reported OpenAI IPO delay, while the S&P and Dow barely moved. In-line PCE inflation softened the dollar a second day, lifting gold about 1.5% back toward $4,090 and the euro to 1.1385. Brent crude tumbled roughly 3% to near $73.
Read the wrap → Friday, June 26, 2026Apple fell about 6%, its worst day in over a year, after hiking Mac and iPad prices on surging memory-chip costs from AI demand. Gold steadied back above $4,000 near $4,022 and Brent bounced 1.3%, while the main indices barely moved: the Dow rose 0.14%, the S&P was flat and the Nasdaq slipped 0.46%.
Read the wrap → Thursday, June 25, 2026A broad commodities selloff pulled gold below $4,000 for the first time in about seven months (around −2.3%) and sank Brent crude roughly 5% toward $73, driven by a one-year-high dollar, hawkish Fed rate-hike bets and Strait of Hormuz relief. The Dow rose 0.35% while the S&P 500 and Nasdaq edged lower.
Read the wrap → Wednesday, June 24, 2026A worldwide chip selloff tripped a circuit breaker in Seoul and dragged the Nasdaq down 2.21% and the S&P 500 down 1.44%, led by semiconductors. Gold slid toward $4,060 as the dollar held near its strongest of the year. Oil fell to about $76.
Read the wrap → Tuesday, June 23, 2026Gold slid to around $4,128 and silver dropped about 3.5% as a firmer dollar and rate-hike bets bit. Big Tech sank the Nasdaq and S&P 500, while the Dow rose and the Russell 2000 touched 3,000 for the first time. Oil eased on US-Iran progress.
Read the wrap → Friday, June 19, 2026With US markets closed for Juneteenth, gold fell for a third straight day to around $4,152 and silver to about $64.7, pressured by a dollar at its strongest since May 2025 and a fading Middle East risk premium. Oil firmed slightly.
Read the wrap → Thursday, June 18, 2026A day after the hawkish Fed, Wall Street bounced back: the Nasdaq 100 jumped 2.48% on a chip rally, helped by the formally signed US-Iran peace deal and cooling oil. But the dollar held a two-month high and gold slid to around $4,210, with silver hit harder.
Read the wrap → Wednesday, June 17, 2026The Fed held at 3.50% to 3.75% as expected, but the dot plot pivoted hawkish, lifting the year-end rate view to 3.8% and hinting at a hike. The dollar jumped, the S&P 500 fell 1.21% and gold dropped 1.30% to around $4,275 in Chair Warsh's first decision.
Read the analysis → Tuesday, June 16, 2026Monday's relief rally carried Wall Street to records: the Dow closed at an all-time high, the S&P 500 rose 1.65% and the Nasdaq 100 surged 3.06%. Then markets went quiet, with gold near $4,313 and Brent steady at $83, ahead of Chair Warsh's first Fed decision on Wednesday.
Read the wrap → Monday, June 15, 2026A US-Iran deal to reopen the Strait of Hormuz sank Brent oil 4.3% to about $83.55, while gold extended its rebound to around $4,303 and stocks edged up. The deal is not yet finalised, and Wednesday's Fed decision now headlines the week.
Read the wrap → Friday, June 12, 2026A stark reversal: Trump suspended the planned strikes and floated a weekend peace deal. The Dow jumped about 900 points, the Nasdaq rose 2.54%, Brent slid to almost two-month lows near $89 and gold rebounded above $4,100 despite a hot 6.5% PPI.
Read the wrap → Thursday, June 11, 2026May CPI landed in line at 4.2% with a softer 0.2% core, but escalation dominated: gold plunged more than 5% to around $4,000, the Dow lost 953 points and Brent jumped about 4% to $95.
Read the wrap → Wednesday, June 10, 2026Gold is down nearly 18% from its January peak and has erased all 2026 gains. The Nasdaq shed more than 5% in a week. Here is what is driving both assets lower at the same time.
Read the analysis → Tuesday, June 9, 2026A cautious Middle East de-escalation steadied equities, with the Nasdaq rebounding 0.86%, and pulled Brent back from a near-5% intraday spike, while a firm dollar kept gold sliding to fresh multi-month lows near $4,290 ahead of US CPI.
Read the wrap → Friday, June 5, 2026A blowout May payrolls print (172K vs ~80K expected) sent Treasury yields and the US dollar surging. Nasdaq tumbled 4.2%, gold slid to three-month lows near $4,300, and EUR/USD broke down toward 1.1500.
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