Market UpdatesJul 30, 20262 Min
Global market wrap: Asian stocks mixed after US Fed keeps rate unchanged; Microsoft jumps 8%
We are back with quick updates on developments around global stock markets, commodities and companies that you shouldn’t miss today.
Asian markets were mixed again on Thursday as investors tried to assess the impact of the US Federal Reserve’s decision to hold rates amid escalating tensions between the US and Iran.
Japan’s Nikkei 225 index gained 1.2% on Thursday to trade around 62,193, while South Korea’s benchmark Kospi rose 0.4% to 5,688.
However, China’s Shanghai Composite index declined 1.1% to 3,785 along with Hong Kong’s Hang Seng Index, which inched down 0.1% to 25,783.
Singapore’s Straits Times also fell 0.7% to 5,670 on Thursday, while Australia’s S&P/ASX 200 was trading lower by over 0.7% to 8,972.
Meanwhile, US stock futures rose in overnight trade on Wednesday after Microsoft Corp. reported a solid jump in earnings. S&P 500 futures rose 0.3%, Nasdaq 100 futures gained 0.7%, while futures tied to the Dow were up 0.1%.
In the regular trading session on Wednesday, the Dow Jones Industrial Average lost 2.2%, marking its worst one-day decline since April 2025. The S&P 500 also lost 1.5%, while the Nasdaq Composite ended 1.74% lower.
Oil prices took a breather on Thursday after rallying sharply in the previous session. The US crude oil futures for July delivery dropped 0.8% to $83.77 per barrel by 0012 ET, while Brent futures for August delivery lost 0.9% to $87.29 per barrel.
Gold prices eased further after Fed Chairman Kevin Warsh reaffirmed the central bank’s commitment to contain inflation while keeping rates unchanged. Spot gold fell 0.3% to $4,054 per ounce by 0412 GMT, while US gold futures for August delivery rose 0.5% to $4,054.50 per ounce.
Here’s a look at the key developments of the day:
Fed’s mixed signals on rates puzzle investors
Even as the US Federal Reserve left key rates unchanged on Wednesday, investors warned that the central bank’s mixed messages on the outlook could unsettle stocks and bonds and increase the risk of market volatility.
According to a Reuters report, the vote on rates drew three dissents from the 12-member panel. This led analysts to characterise the decision as a “hawkish hold” that leaves the door open to future rate hikes.
New Fed chairman Kevin Warsh also said that officials were not committing to any immediate action, but stressed that policymakers “will not hesitate to act” at upcoming meetings if price pressures fail to ease.
Microsoft jumps 8% as it boosts capital spending plans, citing demand
Microsoft shares surged 8% in extended trading on Wednesday after the company’s fourth-quarter revenue beat expectations amid plans for steady 2026 capital expenditures.
Microsoft’s revenue grew about 18% year-on-year in the June quarter to $90.01 billion as against the expected $87.62 billion. Net income of $35.77 billion, or $4.81 per share, increased from $27.23 billion, or $3.65 per share, in the same quarter a year ago.
The company attributed the solid performance to a $3.2-billion gain from its investment in artificial intelligence lab Anthropic and lower-than-expected costs tied to its first-ever voluntary retirement programme
OpenAI CFO tells employees that annualised revenue in July topped all of Q2
According to a CNBC report, OpenAI’s chief financial officer (CFO) Sarah Friar and board chair Bret Taylor touted OpenAI’s revenue growth in an internal meeting with employees on Wednesday.
Friar said OpenAI’s annualised recurring revenue in July exceeded the entire second quarter. “And Q2 was no slouch,” Friar was quoted as saying in the transcript in the report.
Friar and Taylor said momentum was driven by the release of the company’s GPT-5.6 series of models, its new enterprise agent called ChatGPT Work, and growing adoption of its AI coding tool, Codex.
Samsung Electronics Q2 operating profit beats estimates
Samsung Electronics on Wednesday announced that its second-quarter operating profit beat analysts’ estimates at 89.5 trillion won on the back of solid growth in its memory chip business due to robust demand for artificial intelligence (AI). The company’s revenue was in line with estimates at 171.5 trillion won.
Operating profit was up 1,814% compared with the year-ago period and 56% higher compared with the previous quarter. Meanwhile, revenue rose 130% year-on-year and 28% quarter-on-quarter.
Samsung shares gained 7% on Thursday after the earnings announcement.
Starbucks raises FY26 forecasts again
World’s largest coffee chain Starbucks has raised its annual sales and profit forecasts for the second time, sending the stock up 5% in extended trading on Wednesday.
Starbucks expects global same-store sales growth of near 6% for fiscal 2026, above its prior forecast of about 5% or above. It expects adjusted earnings per share to be between $2.55 and $2.65, compared with its previous forecast of $2.25 to $2.45.
The company reported fiscal third-quarter net income attributable to Starbucks of $1.05 billion, up from $558.3 million a year earlier.
Although Starbucks’ overall revenue fell, its sales at stores open at least 13 months climbed 7.9%, topping consensus estimates of 6%.
SpaceX wins $1.6-billion order from US Space Force for 18 Falcon 9 launches
SpaceX has won $1.6 billion in orders from the US Space Force on Wednesday to launch 18 Falcon 9 missions through 2027 carrying Pentagon satellites for detecting and targeting airborne objects.
The 18 missions were assigned to SpaceX across two task orders under the US Space Force’s flagship launch procurement programme.
Jersey Mike’s prices IPO at $23 per share, NYSE debut set
Jersey Mike’s Subs Inc., a US-based fast-casual restaurant franchisor, has announced the price of its initial public offering (IPO) of 43,478,261 shares of Class A common stock at $23 per share.
Existing stockholders granted underwriters a 30-day option to purchase up to an additional 6,521,739 shares to cover over-allotments at the IPO price, less underwriting discounts and commissions.
The Class A common stock is expected to begin trading on the New York Stock Exchange on Thursday. The offering is expected to close on Friday, subject to customary closing conditions.
China AI supplier Zhongji Innolight down 5% in Hong Kong debut
Shares of Zhongji Innolight dropped 5% on Thursday after the China AI supplier made its trading debut on the Hong Kong Stock Exchange.
The company raised HK$53.4 billion ($6.8 billion) after pricing its IPO at HK$980 per share, which was below the maximum indicated price of HK$1,010. The deal was Asia’s second-largest listing this year, behind Chinese memory-chip maker CXMT's $8.6 billion Shanghai listing.
European banking stocks gain as Deutsche Bank, UBS report profit jump
Deutsche Bank and UBS beat forecasts again with second-quarter earnings on Wednesday, buoyed by a surge in trading activity and strong retail business.
Standard Chartered also delivered solid numbers and lifted its full-year income target on the back of surging revenue in wealth and global banking.
The banking sector is now one of the best-performing sectors in Europe, with the STOXX Europe Banks index at its highest since late 2007 and up 143% since early 2024.
