Dollar hovers near four-week peak as markets mull Fed hike odds
The dollar held near a four-week high as traders weighed Federal Reserve rate-hike prospects, with major currencies and cryptocurrencies showing mixed movement.
A ‘Super El Niño’ is expected to squeeze commodities even further this year
A severe El Niño climate pattern expected to peak in the fall could disrupt global agricultural production and tighten commodity markets already strained by Middle East conflict, potentially raising prices for wheat, corn, sugar, and coffee.
UPS beats earnings expectations, raises full-year guidance
UPS beat second-quarter earnings expectations and raised full-year guidance, reporting adjusted earnings of $1.76 per share and consolidated revenue of $91.2 billion for 2026.
Mercedes gets shares boost on stable second quarter despite China woes
Mercedes-Benz shares rose following second-quarter results showing stabilized profit despite a 30% sales collapse in China, as cost-cutting measures and strong financial services earnings offset revenue declines.
Fitch warns AI market correction emerging as major global credit risk
Fitch warned that an artificial intelligence market correction poses major global credit risks, with tech valuations approaching dotcom boom levels and AI spending potentially running ahead of uncertain returns.
Morning Bid: Chip rout snowballs
Semiconductor stocks suffered renewed losses amid concerns about rising competition and circular financing, while oil prices declined below $90 per barrel.