Overall, the team maintains its 2025 GDP growth forecast of 2 per cent, higher than the consensus of 1.7 per cent, at the top end of the official forecast range of 0 to 2 per cent.

“We think that there could be further volatility to come, although we also retain our conviction on our longer-term weaker USD view.

Indexes added to losses after Mr Trump announced the tariff rates against Japanese and South Korean imports, due to take effect on Aug 1.

As at Wednesday, the index has advanced about 5.9 per cent year to date – bringing its gains slightly over that of the S&P 500, which is up by around 5.4 per cent.

Both the S&P 500 and Nasdaq finished at all-time highs following a roller-coaster session that included a stint in negative territory after Mr Trump announced he was breaking off trade talks with Canada,

About a fifth of the world’s total oil consumption passes through the strait, or some 18 to 19 million barrels per day of oil, condensate and fuel.

On Jan. 15, 2025, oil surged to $80.50 from $72.50 just six days earlier. The spike coincided with a Bitcoin drop to $89,300 on Jan. 13, followed by a 22% rally to $109,300 by Jan. 20.

But stocks fell in what Briefing.com described as a “sell the news” response to a breakthrough that had been largely priced in.

Spot gold was up 0.3 per cent at US$3,364.10 an ounce, as of 0017 GMT. US gold futures gained 1.2 per cent to US$3,384.40.

US regulators are now raising concerns that the vehicles may not legally qualify as ETFs at all under federal securities laws.

If passed by the Senate, a repeal of the IRA “would mark a sharp reversal in US clean-tech policy”, Bibani said.

Stablecoins have become crucial to the functioning of crypto markets, with about US$243 billion of them in circulation in May 2025.