Author: Jack Mulligan

Stronger Risk Sentiment Pressures Gold Prices Gold futures opened Monday at $3,321.10 per ounce, slipping 0.4% from Friday’s close and extending a pullback from last week’s high of $3,441. Market optimism around recent global trade developments appears to be softening investor demand for safe-haven assets like gold. The dip follows reports of a new 15% tariff agreement between the U.S. and the European Union, as well as speculation that Washington and Beijing may extend their tariff truce by another 90 days. These moves suggest greater global economic stability, historically linked to a decline in gold purchases as investors shift toward…

Boosted Price Range Signals Strong Demand for Tech IPOs Figma has raised its expected IPO price range ahead of its stock market debut, now targeting a valuation of $18.8 billion. The design platform plans to raise $1.18 billion by offering nearly 37 million shares at $30 to $32 each. This move marks a notable increase from the earlier range of $25 to $28, signaling rising investor interest in high-growth tech stocks despite trade-related uncertainty. The new valuation places Figma closer to the $20 billion price tag it once commanded in a now-defunct acquisition deal with Adobe. That deal was scrapped…

July data fuels speculation of another rate hike this year Consumer inflation in Tokyo eased slightly in July but remained well above the Bank of Japan’s 2% target, sustaining pressure on the central bank to consider another interest rate hike before year-end. The Tokyo core Consumer Price Index (CPI), which excludes fresh food prices, rose 2.9% compared to the same month last year, down from June’s 3.1% increase and just below the 3.0% market forecast. The slowdown is attributed primarily to a base effect from last year’s spike in energy prices, which followed the end of government subsidies for fuel…

AI chip restrictions spark a thriving black market in Shenzhen Despite strict U.S. export controls on high-end AI chips, Nvidia processors like the H100 and A100 are quietly flowing into China — and staying operational thanks to a growing underground repair network. In Shenzhen, about a dozen boutique tech firms have carved out a lucrative niche servicing GPUs that technically shouldn’t be in the country at all. One such shop recently spun off a dedicated repair division, now handling up to 500 graphics units monthly. This surge in demand highlights the enormous appetite for functional AI hardware and the resourcefulness…

Double-Digit Price Hike Hits Popular Brands Hershey confirmed it is raising prices across its candy portfolio, citing surging cocoa costs as the primary driver. The increase, described as a “low double-digit” hike, will impact iconic products such as KitKat, Reese’s, and Hershey Kisses. The company emphasized that the decision is not linked to tariffs or trade policies but is a direct response to the unprecedented rise in raw material prices. The price adjustment will roll out over approximately 90 days, though the timeline may differ depending on the retailer. Hershey owns more than 90 brands and has built a global…

New Projects Add Over 4.5 GW to Capacity Pipeline OpenAI is accelerating its global data center strategy with a newly announced 4.5 gigawatt expansion in collaboration with Oracle, adding to an 800 MW facility already underway in Abilene, Texas. The initiative, operating under the “Stargate” brand, reflects OpenAI’s growing need for computing power to support its next-generation AI models, such as GPT-5. Despite setbacks with SoftBank and delays in other projects, OpenAI remains committed to aggressive infrastructure development. In total, the Stargate initiative now includes four publicly known sites: the original Abilene facility, the new 4.5 GW U.S. expansion (currently…

Growth Target at Risk Amid Weak Consumer Demand, Tariff Drag China may need to ramp up fiscal stimulus in the coming months to meet its 5% economic growth goal for 2025, according to Barclays analysts. Although a temporary easing in US-China trade tensions has brought short-term relief, structural challenges continue to weigh on the country’s recovery. Second-quarter data showed GDP grew by 5.2%, slightly beating forecasts but slipping from 5.4% in the previous quarter. Exports showed surprising resilience despite tariff pressures, but the broader economic picture remains clouded by weak domestic consumption and a prolonged real estate slump. Beijing’s Policy…

Trump Finalizes Dual Agreements as August Tariff Deadline Nears President Donald Trump has reached separate trade agreements with the Philippines and Indonesia, marking a significant move ahead of the looming August 1 deadline for higher tariffs. Both deals impose 19% tariffs on imports from the two nations, while exempting US exports from reciprocal duties. The announcement followed a White House meeting between Trump and Philippine President Ferdinand Marcos Jr., where discussions centered around tariff reductions and strategic cooperation. Though no formal signing was confirmed, the administration emphasized the agreements’ substance, rather than optics. This deal with Manila is the fifth…

Business sentiment improves but remains cautious The latest survey from the Bank of Canada reveals that while Canadian business owners are less pessimistic about a recession than earlier this year, overall confidence remains subdued. Just 28% of companies are still planning for a downturn — a slight improvement from 32% in March — but ongoing trade tensions, particularly tariffs imposed by the U.S., continue to cloud the outlook. Consumers are also holding back. Many households are delaying large purchases and increasing savings amid uncertainty about future prices and borrowing costs. As a result, businesses report difficulty predicting demand and are…

Prime Minister Ishiba vows to stay despite coalition loss The Japanese yen climbed sharply on Monday after Prime Minister Shigeru Ishiba pledged to remain in office, despite his coalition losing its majority in Sunday’s upper house elections. While the outcome was widely expected and already priced in by markets, the result nonetheless introduced fresh political uncertainty. With Japanese markets closed for a national holiday, the yen served as the primary gauge of investor reaction. The currency rose 1% to 147.315 per dollar, edging away from last week’s low of 149.19. It also gained 0.4% against both the euro and sterling.…