Market UpdatesJul 03, 20262 Min
Global Market Wrap: Asian Stocks Bounce Back; Oil, Gold Gain, Nvidia Expands Ai Ecosystem
We are back with quick updates on global stock markets, commodities and corporate developments that you shouldn’t miss today.
Asian markets bounced back on Friday after weaker-than-expected US jobs data raised hopes that the Federal Reserve may defer any rate hike plans for now to support the economy.
Japan’s Nikkei 225 rose 0.5% on Friday to 69,082, while South Korea’s benchmark Kospi shot up 3.3% to 7,897 after two days of correction.
China’s Shanghai Composite index also gained 0.7% to 4,057 on Friday. Australia’s S&P/ASX 200 was trading higher by 1.3% to 8,714 as its composite PMI (Purchasing Managers’ Index) returned to expansion.
Hong Kong’s Hang Seng Index jumped 1.5% to 23,399, while Singapore’s Straits Times rose 0.4% to 5,237.
The US financial markets would remain closed on Friday for the Independence Day holiday. On Thursday, the Dow Jones Industrial Average added 1.1% to hit a new record during the regular session. The S&P 500 closed almost unchanged compared with the previous session, while the Nasdaq 100 and closed lower by 0.8% as selling in technology stocks continued.
Oil prices rose again on Friday as investors remained wary of the fragile nature of the US-Iran peace talks. The US crude oil futures for July delivery rose 0.5% to $69.03 per barrel by 2300 ET. Brent futures, the international benchmark, for August delivery was up 0.6% to $72.26 per barrel.
Gold prices also jumped on Friday as weak US payrolls data dimmed the chances of a Federal Reserve interest rate hike in the upcoming policy. Spot gold increased by 1.3% to $4,176 per ounce by 0403 GMT, while US gold futures for August delivery gained 1.5% to $4,188 per ounce.
Here’s a look at some major developments across global markets:
Tesla shares tank 7.5% despite strong sales
Shares of Tesla tanked about 7.5% on Thursday to record its worst day in almost a year even as the Elon Musk-led electric vehicle manufacturer reported a strong sales report.
Tesla’s vehicle deliveries and production levels for the second quarter far exceeded Wall Street expectations. Total Q2 vehicle deliveries stood at 480,126, while Q2 vehicle production stood at 451,758. Analysts were expecting around 406,600 deliveries, according to StreetAccount’s consensus.
Nvidia offers new revenue-share agreement to AI startups
US chipmaker Nvidia on Thursday announced that was entering into revenue-sharing agreements with its start-up clients. The agreement will allow Nvidia’s customers to swap access to compute power for a slice of future profits.
Revenue from both product sales and cloud operations will flow back to Nvidia, as AI cloud companies provide Nvidia-powered services to their end customers.
Citadel’s hedge funds post broad first-half gains
Citadel posted positive returns across its various hedge fund strategies in the first half of 2026. This was mainly led by double-digit gains in its tactical trading and equities funds.
The hedge fund firm’s tactical trading fund, which combines discretionary equity investing with quantitative strategies, climbed 14.3% through the end of June, according to a report.
Kuaishou raises $2.8 bn for its Kling AI subsidiary with Tencent
China’s short-video platform Kuaishou on Thursday announced a capital injection of nearly $2.8 billion into its artificial intelligence (AI) subsidiary, Kling AI, with backing from tech giant Tencent.
Kuaishou was targeting a $15 billion valuation from the raise, according to reports. Its shares in the Hong Kong market opened nearly 7% higher on Friday, but later pared gains to trade around 0.75% higher.
Canada unveils plans for new oil pipeline to reduce dependence on US
Canadian Prime Minister Mark Carney on Thursday announced that the country has secured an investment agreement with British Columbia to build a major oil pipeline.
The future pipeline is expected to carry 1 million barrels of oil a day from the oil-rich province of Alberta, across the entirety of British Columbia, to the country’s west coast. This will allow Canada new access to Asian markets and reduce its economic dependence on the US.
