Top U.S. Stories

  • Trump won’t renew USMCA: The administration said it plans to let the U.S.-Mexico-Canada Agreement lapse, toppling a pillar of North American trade stability.
  • Fed’s Warsh dodges July rate signal: Speaking at the ECB’s Sintra forum, Chair Kevin Warsh said the Fed will decide on rates at the July 28-29 FOMC meeting but gave no hint which way, adding inflation remains “too high.”
  • New Air Force One’s first flight: President Trump took the inaugural flight aboard the retrofitted Boeing 747 to Medora, North Dakota, for the Theodore Roosevelt Presidential Library opening.
  • Supreme Court upholds trans-athlete bans: The Court sided with West Virginia and Idaho laws barring transgender women from girls’ and women’s sports.
  • Empire State Building banner stunt: Two people were taken into custody after climbing to the top of the building with a large banner.
  • Iran-U.S. tensions remain fragile: Despite a June 17 ceasefire MOU reopening the Strait of Hormuz, Iran has exported over 40 million barrels of oil as 60-day talks continue.

Markets

U.S. stocks pulled back on the first trading day of the new quarter after a record-setting Q2: the S&P 500 closed at 7,483.23 (-0.22%), the Dow at 52,305.24 (-0.03%), and the Nasdaq at 26,040.03 (-0.66%) on July 1, weighed down by a soft ADP jobs report. Oil (WTI) traded around $68 on Yahoo Finance, continuing its decline as Iranian exports resumed through Hormuz. The dollar held near a historic high against the yen at ¥162.71 per frankfurter API data. In Tokyo, the Nikkei 225 rose for a third straight session to 70,474.96 (+0.59%), led by AI and semiconductor names.

Stocks in Focus

  • Nvidia fell about 2.98% as chip stocks saw profit-taking.
  • Chevron rose 0.94% even as oil prices fell, reflecting lingering geopolitical risk premium around Hormuz.
  • Caterpillar and Walmart dropped 4.50% and 4.27% respectively, as cyclical names saw heavy selling on the quarter’s first day.
  • Japan’s Advantest and Tokyo Electron led the Nikkei’s advance on continued AI-driven semiconductor demand.

Auto-generated and AI-written. Not investment advice.

Sources:

Compiled from publicly available information.