QtrendsUS gas prices surged the most since early May as Middle East tensions escalate following Trump's declaration that the Iran ceasefire is 'over,' sending oil prices higher and global stocks lower. China's CPI maintained moderate growth in June while PPI accelerated for the fourth straight month. Hong Kong IPO market sees a stark divide between megadeals from AI firms like Zhipu AI and struggling small-cap listings.
US gas prices rose by the most since early May as oil supply concerns mount. Shipping traffic in the Gulf has slowed, keeping oil prices elevated and leaving consumers facing volatile pump costs. NPR reports on strategies to cope with seesawing gas prices as the situation develops.
Trump stated the peace deal with Iran is 'over' after US strikes, though he also mentioned Iran reached out to negotiate. The uncertainty sent oil prices up and stocks down worldwide. The conflict has disrupted shipping through the Strait of Hormuz, compounding gas price volatility for American consumers.
China's consumer inflation held steady with moderate growth in June, while factory-gate prices accelerated for the fourth consecutive month. The PPI rose 4.1% year-on-year, reflecting continued industrial demand recovery. The data suggests balanced inflationary pressures in the world's second-largest economy.
Hong Kong's IPO market shows a sharp divergence as massive offerings from AI firms like Zhipu AI (targeting HK$31.4 billion) and chipmaker Iluvatar CoreX dominate headlines, while small-cap listings struggle to attract investors. Chinese memory chipmaker CXMT is also set for a US$4.3 billion IPO, riding the global memory chip boom.