How banks have adjusted their lending in response to trade tensions

• Stock markets climbed following reports that June inflation cooled, signaling a potential slowdown in price increases. • JPMorgan Chase reported a record quarterly profit of $21.2 billion, driven by a surge in trading activity and corporate dealmaking.

• Quarterly earnings reports from the five largest U.S. banks have challenged recession fears by showing unexpected strength in key financial sectors. • Investment banking revenue grew as corporate executives increased spending on mergers, acquisitions, IPOs, and debt issuance, signaling confidence in capital investment.

• Parent company Oppo is reportedly planning to announce OnePlus's exit from the US and European markets this week. • According to WinFuture, the company intends to limit future OnePlus device releases exclusively to China and India.

• The Federal Reserve Board of Governors has established five new task forces dedicated to analyzing and improving the conduct of monetary policy. • Key focus areas include refining policy communications during uncertainty, evaluating the costs and benefits of the current balance sheet regime, and enhancing the timeliness of economic data.

• Stock futures rose Wednesday, driven by gains in technology shares and a positive sales outlook from chip-equipment maker ASML due to surging AI demand. • PayPal shares also jumped following reports of a potential takeover, adding to the bullish momentum in the tech sector.

• US stocks advanced on Tuesday following the release of consumer price data showing a decline in inflation. • The softer inflation figures are significant as they reduce the immediate pressure on the Federal Reserve to implement further interest rate hikes.

• Global stock markets rallied, with the Nasdaq rising 0.90%, the KOSPI jumping 7%, and the FTSE 100 gaining 0.30% following cooler U.S. inflation data. • The rally was driven by reduced fears of Federal Reserve rate hikes and expectations for further economic support due to soft domestic demand.

• Asian stock markets showed mixed results, highlighted by a significant rally where South Korea's KOSPI jumped nearly 6%. • Other regional indices, including Japan's Nikkei, Hong Kong's Hang Seng, and Australia's ASX 200, also recorded gains.

• The European Central Bank (ECB) is monitoring the conflict involving Iran to assess potential indirect price pressures and inflation risks. • Despite current geopolitical tensions and global uncertainty, policymakers report that the eurozone economy has remained resilient.

• Spain's EU-harmonised 12-month inflation rate remained steady at 3.6% in June 2024. • According to statistics from the National Statistics Institute (INE), the figure aligned with both previous data and market forecasts.

• European shares experienced a slight decline as escalating tensions in the Middle East weighed on broader market sentiment. • Gains in technology stocks, driven by ASML's positive financial forecasts, and strong demand for luxury jewelry helped offset some of the losses.