🇨🇳 Asian markets are steady but less upbeat than yesterday:
— CH.cash gained +0.4%
— JAP225 rose +0.2%
🇺🇸 Wall Street futures ticked higher after strong Alphabet earnings, though they’re slightly softer this morning.
🇦🇺 Australia: July’s flash Manufacturing PMI rose to 51.6 (vs 50.6), while Services PMI climbed to 53.8 (vs 51.8).
🇯🇵 Japan: Manufacturing PMI fell to 48.8 — a sign of contraction and below expectations.
🏛️ Donald Trump is set to visit the Fed today — only the 4th president ever to do so. Tensions with Jerome Powell are rising, especially after reports of a $2.5B HQ renovation scandal.
📉 Bessent says the new Fed chair may be named in December or January — calming fears of dual leadership. Meanwhile, the dollar is slightly weaker vs the euro.
💬 RBA Governor Bullock struck a cautious tone:
— Labour market is still hot
— Inflation hasn’t eased enough
— A rate cut in August remains possible, but is no longer certain
🇦🇺 The Aussie dollar surged above 0.6600 — its highest level since Nov 2024 — boosted by global trade optimism.
🌐 Today, EU Commission President von der Leyen meets with Xi Jinping to ease trade tensions amid growing rifts with the US.
⚠️ Reports of gunfire on the Thai–Cambodian border led to the evacuation of 40,000 people from Thai villages.
💰 Commodities:
— Gold: -0.2%
— Palladium: -1.5%
— Oil: +0.15%
— Natural Gas: +0.15% (Goldman Sachs remains bullish for 2026)
🚗 Earnings Watch
Tesla: Q2 revenue hit $22.5B (vs $22.74B forecast), EPS at $0.40 (vs $0.43). Auto revenue fell 16% YoY, but a cheaper model + Robotaxi launch in Austin boosted sentiment. 📉 Shares down 4.5% after-hours.
Alphabet: Q2 revenue soared to $96.43B (vs $94B forecast), EPS at $2.31 (vs $2.18). Cloud + YouTube ad growth and $85B AI investment lifted shares by 1.7%. 🚀
IBM: Beat estimates with $16.98B in revenue and EPS of $2.80. Still, shares dipped 5% after-hours despite reaffirming strong cash flow guidance. 💻
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📊 Morning Market Update | 24 July 2025 🌍 was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story.