Surprise

• The youth-led Cockroach Janta Party has announced it will end its protests after the Indian government agreed to several of its demands regarding education reforms. • Key concessions include the resignation of Prime Minister Narendra Modi’s education minister and the implementation of specific policy changes. • This victory for the protesters comes at a critical time as Modi’s party prepares for high-stakes state elections scheduled for next year.

• The European Central Bank (ECB) is widely expected to keep interest rates unchanged during today's meeting. • Because no new macroeconomic projections will be released, market focus will shift to President Christine Lagarde's press conference for policy signals. • Traders anticipate a "hawkish pause," where the ECB maintains current rates but emphasizes that future hikes remain an option if inflation risks intensify.

• Asian markets rose on Wednesday, led by a 6% surge in South Korea’s KOSPI and a 1.7% increase in the MSCI Asia-Pacific index (excluding Japan). • The rally followed a surprise 0.4% decline in the US consumer price index for June, the first drop since the pandemic, which reduced expectations for further interest rate hikes. • Positive momentum was further supported by strong Wall Street bank earnings and the US decision to scrap shipping levies in the Strait of Hormuz.

• The 2026 Emmy nominations feature several surprises, including unexpected nods for "Love Island USA" host Ariana Madix and Chase Infiniti. • In a rare turn, "The Amazing Race" was snubbed for the first time since 2003 in only the second instance in the category's history. • "Dancing With the Stars" returned to the nominee field for the first time since 2016, effectively replacing the long-dominant CBS travel competition.

• Troy Rohrbaugh, an options trader, has emerged as a surprise front-runner to succeed Jamie Dimon as the head of JPMorgan. • Rohrbaugh is currently competing against Doug Petno for the top leadership position at the financial giant. • This succession race is critical as the market anticipates who will maintain the strategic direction of one of the world's largest banks.

• Thailand's main stock index has surged over 20% in 2026 through Wednesday, outperforming regional benchmarks in Singapore and Vietnam while Indonesia saw declines. • The growth is largely driven by AI-related infrastructure, specifically power system makers like Delta Electronics (Thailand) and data center investments. • Other top-performing stocks contributing to this rally include Advanced Info Service, PTT, Gulf Development, and Airports of Thailand.

• The U.S. Bureau of Economic Analysis released the Personal Consumption Expenditures (PCE) price index data for May. • As the Federal Reserve's preferred gauge for measuring inflation, this data is critical for determining future monetary policy and interest rate decisions. • Market participants are analyzing the results to see if inflation trends align with the Fed's targets or present a surprise that could shift the economic outlook.