BUSINESS

Australia's ASX 200 index fell 0.83% due to the US Federal Reserve's hawkish interest rate stance and rising oil prices, affecting investor sentiment. Key company performances provided some market contrast.

DoorDash has launched its own drone delivery service, DoorDash Air, after receiving FAA approval. The service aims to enhance delivery efficiency and reduce reliance on human couriers.

Bitcoin remains stable as cryptocurrency markets await the Federal Reserve's interest rate decision, which could introduce significant volatility. Market sentiment is influenced by macroeconomic factors and geopolitical tensions.

Abbott Laboratories' shares rose 2.37% after reporting strong Q2 results and raising its 2026 earnings guidance, driven by growth in diagnostics, devices, and strategic acquisitions.

Dell Technologies' stock has experienced significant declines due to concerns over its AI server business, customer concentration risks, rising memory chip prices, and insider selling.

Nvidia's stock has dropped significantly, losing $238 billion in market value due to concerns over AI infrastructure spending and geopolitical challenges, despite strong financial performance and positive analyst outlooks.

The Nasdaq Composite fell 1.45% due to rising oil prices and a chip sector selloff, amid Middle East tensions and anticipation of the Federal Reserve's interest rate decision.

Manhattan Associates' shares surged 26.7% following record Q2 results, driven by a 26% increase in cloud subscription revenue and AI advancements, highlighting strong business momentum and strategic execution.

Huron Consulting Group's stock surged 32.11% after reporting Q2 earnings that exceeded expectations and raising its full-year guidance, driven by growth in AI-related services and recent acquisitions.

Xiaomi is set to launch the Sky Nomad N70, a mid-to-large SUV with an extended-range electric powertrain, marking its entry into the EREV segment. Full reviews await post-launch testing.

Xiaomi's shares rose nearly 9% as investors anticipate the launch of two new SUV models, marking the company's continued expansion into the electric vehicle market.

Tencent's shares rose 4.29% as investors showed renewed interest in its AI initiatives and upcoming earnings. The stock's performance reflects optimism around AI product momentum and earnings expectations.

Asustek Computer's stock rose 3.54% amid surging AI hardware demand, outperforming regional benchmarks. Despite strong growth, analysts note modest valuation multiples compared to Taiwan's tech sector.

Intel's stock experiences volatility despite strong earnings, as analysts debate the sustainability of its growth amid supply constraints and competition. Investors eye upcoming earnings for clarity.

SK Hynix reported record Q2 profits driven by high-bandwidth memory chip demand for AI systems, despite missing analyst forecasts. The company plans further production expansion amid strong AI infrastructure investments.

U.S. stocks fell as Iran's surprise attack on American forces heightened market volatility. Concerns over AI spending and upcoming Federal Reserve decisions added to investor uncertainty.

Mineral Resources reported record production volumes and improved financials, driving a 4.75% share price increase. The company exceeded guidance across mining services, iron ore, and lithium divisions.