Market UpdatesJun 30, 20262 Min
Global market wrap: Asian markets mostly positive after Dow closes at record high; oil falls; Elon Musk reclaims Trillionaire status
We are back with quick updates on global stock markets, commodities and major corporate developments across the world.
Key Asian markets were largely trading positive on Tuesday as gains in the US markets overnight lifted sentiment.
Optimism in the US markets was on account of a pause in the US-Iran hostilities and the debut of the tech giant ‘Alphabet’ in the Dow index.
Japan’s Nikkei 225 gained 1.3% on Tuesday to 70,406, while South Korea’s benchmark Kospi surged 0.9% to 8,476.
China’s Shanghai Composite index rose marginally by 0.5% to 4,096, though Hong Kong’s Hang Seng dropped 1% to 22,797. Singapore’s Straits Times fell 0.6% to 5,177, while Australia’s S&P/ASX 200 was down 0.5% to 8,778.
US stock futures traded flat on Tuesday after witnessing solid uptick during the regular session on Monday. S&P 500 futures and futures tied to the Dow were up by 0.1% and 0.03% respectively, while Nasdaq 100 futures were up by 0.3%
On Monday, the S&P 500 had jumped 1.18%, while the Nasdaq 100 had closed 2.07% higher. The Dow Jones Industrial Average had gained 0.59% to close at a fresh record above the 52,000 level for the first time.
Oil prices fell further on Tuesday ahead of the possible talks between US and Iran in Doha later in the day. Data also showed that stocks of crude oil in the US Strategic Petroleum Reserve fell by 5.5 million barrels to 325.7 million barrels, the lowest level since May 1983.
The US crude oil futures for July delivery were down 0.9% to $70.11 per barrel. Brent futures, the international benchmark, for August delivery fell around 0.6% to $73.37 per barrel.
Gold prices fell, too, as inflation worries persisted, fuelling fears of a rate hike by the US Federal Reserve. Spot gold declined 1.3% to $3,963 per ounce by 0308 GMT, while US gold futures for August delivery were trading 1.6% lower at $3,976 per ounce.
Here's a look at some major developments across global markets:
Elon Musk Returns To The Trillionaire Club As SpaceX, Tesla Add $60 Billion to His Fortune
Elon Musk has regained his trillionaire status after a sharp rally in SpaceX and Tesla shares added more than $60 billion to his net worth in a single day.
SpaceX climbed around 7.6% while Tesla gained about 8.6%, lifting Musk's fortune back above the $1 trillion mark just days after market volatility briefly pushed him below the milestone.
Alphabet shares close nearly 5% higher on ‘Dow’ debut
Shares of Alphabet Inc. rose nearly 5% on Monday after the company became a constituent of the Dow Jones Industrial Average index, replacing Verizon. The stock is already a part of the S&P 500 and Nasdaq 100.
Despite Monday’s gain, Alphabet is still tracking for its worst month since February 2025, with six of the past seven weeks in the red, noted a CNBC report.
AeroVironment soars 19% on earnings beat
AeroVironment stock surged 19% higher on Monday in the overnight trade as the drone maker reported fourth-quarter earnings that beat estimates on both revenue and profit.
The company posted net income of $63.17 million during Q4 2026, or $1.25 per share. A year ago, its net income was $16.66 million, or 59 cents per share.
Australia’s private sector credit grows 0.7%
Australia’s private sector credit grew 0.7% in May 2026 over the previous month. This was marginally higher than the expectations of a 0.6% increase for the month. Notably, the private sector credit growth stood at 0.7% month-on-month both in March and April.
Housing credit, which accounts for 62% of total private credit, increased by 0.5%. Meanwhile, business credit, contributing 34% to the total, increased by 1%.
Apple supplier Luxshare seeks up to $3.1 billion via Hong Kong IPO
Apple supplier Luxshare Precision Industry is planning to raise as much as $3.1 billion through a Hong Kong initial public offering (IPO).
Luxshare is expected to determine the offer price by July 7. Pricing and allocation results will be announced the following day and trading is expected to begin on July 9. About 90% of the shares will be allocated to international investors, with the remainder offered to Hong Kong retail buyers.
Traders taking bullish positions on SpaceX
Options traders are assembling bullish positions of all forms on SpaceX contracts, according to a report. Traders have bought more than four times as many calls than puts, according to ThinkOrSwim data, with total call volume double that of puts.
This comes amid an $8 billion deal between Rocket Lab and Iridium Communications. The deal would give Rocket Lab control over a satellite fleet and access to wireless resources it could use to compete with SpaceX.
