Overnight moves in forex, gold, silver, oil and the major indices, plus the headlines that drove them. Read it with your morning coffee.
The US economy added 162,000 jobs in August, nearly three times the roughly 56,000 expected, with unemployment steady at 4.1%. A hot number revived fears of a September Fed rate hike, sent the 2-year Treasury yield to its highest since January 2025, and knocked gold down about 1.7%.
Read the reaction → Thursday, September 3, 2026Stocks posted their best day in a month after dovish comments from Fed Governor Christopher Waller eased rate-hike fears and sent yields down to about 4.77%. The Dow jumped 624 points, and gold roared back about 2.3% to near $4,540 as the dollar dropped, ahead of Friday's jobs report.
Read the wrap → Wednesday, September 2, 2026Stocks snapped a three-day slide as the 10-year Treasury yield paused just below a multi-year high (it hit 4.81%, the most since 2023). The Dow rose 295 points, helped by Nvidia and Johnson & Johnson, a soft ADP jobs print backed Fed-cut bets, gold steadied near $4,380 after a pullback from its record, and oil surged.
Read the wrap → Thursday, August 27, 2026Nvidia surged 8.7% after its blockbuster results, reviving the AI trade and sending the Nasdaq up 1.5% as software soared (Salesforce +23% on an Anthropic partnership, CrowdStrike +19%). But it was a narrow, tech-only rally with the Dow flat, as Wall Street awaited Fed Chair Warsh at Jackson Hole. Gold steadied near $4,600.
Read the wrap → Wednesday, August 26, 2026Stocks rose for a third straight day as the 10-year yield fell to 4.63%, with tech leading (Nasdaq +0.7%) ahead of Jackson Hole and Nvidia earnings. A firm PCE print nudged gold off its record to about $4,625. Then, after the close, Nvidia reported blockbuster results: revenue up 106% to $96.2 billion, with guidance of about $108 billion next quarter.
Read the wrap → Thursday, August 20, 2026The bond relief lasted one day: Treasury yields resumed their climb toward 4.71% despite the buyback plan, and stocks slumped. The Dow shed 703.84 points, its worst day since late July, dragged by a 9% Walmart plunge on a weak outlook. Against the tide, gold surged to a fresh record near $4,530 on safe-haven demand.
Read the wrap → Wednesday, August 19, 2026Hawkish July Fed minutes flagged that more tightening may be needed, but stocks still eked out their first gain in four days as a Treasury plan to more than double its bond buybacks eased the 10-year yield back toward 4.7%. Gold held firm near its record around $4,480 and oil stayed above $84 on US-Iran tensions.
Read the wrap → Wednesday, August 12, 2026A tame July CPI (3.4%, in line, cooling from 3.5%) eased Fed rate-hike fears and powered an AI-led rally. The Nasdaq rose 0.54% as CoreWeave jumped about 18% and Nebius about 16.5% on AI-infrastructure earnings, while gold surged to a fresh record near $4,408 and oil slipped below $83.
Read the wrap → Thursday, August 6, 2026The record run hit a wall built out of oil: WTI crude jumped about 3.7% to near $78 as Strait of Hormuz tensions flared back up on reports of Iranian military activity, lifting energy but pressuring everything else. The Dow shed 464 points off its record, AppLovin crashed about 20% and Western Digital about 13% on weak results, and the 10-year yield rose to 4.67% as gold held near a seven-week high.
Read the wrap → Wednesday, August 5, 2026The four-day melt-up finally split: the Dow eked out another record (+263 to 54,349) but the Nasdaq fell 0.83% as Big Tech took profits, with Alphabet down about 4%. A weak ADP jobs print (just 44,000) and a Strait of Hormuz deal slashed expected Fed hikes to one this year, sending gold surging ahead of Friday's jobs report.
Read the wrap → Tuesday, August 4, 2026The melt-up found another gear: the Dow closed above 54,000 for the first time and the S&P hit a record as Palantir soared about 29% on 93% revenue growth and Caterpillar posted its first $20 billion quarter. Optimism over a deal to reopen the Strait of Hormuz sank oil more than 10% on the week and cooled September rate-hike odds to 57%.
Read the wrap → Monday, August 3, 2026The rally that ended July kept going: the Dow surged 693 points to a fresh record and the Nasdaq jumped 2.1% as President Trump called off a planned strike on Iran to negotiate reopening the Strait of Hormuz. Oil stayed soft, strong ISM data (55.6) added fuel, and the yen extended a sharp rally toward 157 ahead of Friday's jobs report.
Read the wrap → Friday, July 31, 2026Amazon surged about 15% on accelerating AWS growth, pushing the Dow to a fresh record and a fourth straight winning month. But underneath, semiconductors capped their worst month since 2008, the 30-year Treasury yield hit its highest since 2007, and Brent tumbled 4.9% as the US and Iran restarted peace talks.
Read the wrap → Thursday, July 30, 2026One day after the hawkish Fed sent stocks to their worst session since 2025, Microsoft jumped 15% on a blowout quarter and dragged the chip trade back to life. Micron and AMD surged double digits, the Nasdaq rose 2.8% to snap a six-day losing streak, while Meta slumped 8% on weak guidance. Gold rose and oil fell as Hormuz shipping recovered.
Read the wrap → Wednesday, July 29, 2026The Fed held rates at 3.50 to 3.75% for a fifth straight meeting, but three officials voted to hike and Chair Warsh warned of "no tolerance" for inflation. The market read it as hawkish: the Dow fell 1,153 points, its worst day since April 2025, the Nasdaq entered correction, and Treasury yields spiked. Oil jumped 7% as the Iran conflict flared again.
Read the wrap → Thursday, July 23, 2026The 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.
Read the wrap →