Asian stocks rose after a subdued US inflation report eased concerns about imminent interest-rate hikes by the Federal Reserve. Brent snapped a six-day rally.

The MSCI Asia Pacific Index rose 0.6%, with gauges in Japan and South Korea advancing. That followed gains in US benchmarks, with the S&P 500 moving within striking distance of a record as a rally in megacap chipmakers lifted the Nasdaq 100 to a one-month high.

Still, caution prevailed as Nasdaq 100 contracts slipped in early Asian trading after Cisco Systems Inc.’s earnings failed to impress. Cerebras Systems Inc. tumbled after sales declined at its hardware business.

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US consumer prices rose in line with forecasts in July, while a key underlying inflation measure matched its slowest pace since March 2021. Short-dated Treasuries outperformed in the US session as traders pared expectations of policy tightening, with money markets assigning less than a 50% chance of a September rate increase. Elsewhere, Brent crude edged lower early Thursday to trade around $88.30 a barrel. Attention is also on the yen as it edged closer to the key level of 160 per dollar on Wednesday, keeping investors on the lookout for more intervention by officials in the foreign-exchange market.
The US inflation data offered some relief to investors after signs of a cooling labor market had already tempered expectations for rate hikes. Still, persistent price pressures and volatile oil markets are complicating the outlook, leaving traders sensitive to incoming data for clues on whether policymakers can remain on hold.
The CPI reading and a cooler-than-expected jobs report “may keep hawkish Fed officials at bay in September,” said Gary Schlossberg, global strategist at Wells Fargo Investment Institute. “However, we remain guarded on the near-term outlook for inflation amid volatile oil prices tied to the ongoing Middle East conflict along with lingering core price pressures from a strong economy and the AI boom.”

The consumer price index, excluding often-volatile food and energy categories, rose 0.2% in July from a month earlier. On an annual basis, it advanced 2.5%, matching the slowest pace since March 2021.

Still, above-target inflation and widening budget deficits have helped keep longer-dated Treasury yields elevated.

Thursday’s 30-year bond sale is expected to price at the highest financing rate in 25 years, after a $42 billion auction of 10-year notes drew the highest yield since 2007.

“The big surprise with a report that had no surprises is that a situation where inflation isn’t reaccelerating, coupled with the most recent, weak jobs report gives the Fed more time to wait,” said Chris Zaccarelli at Northlight Asset Management.

In other corners of the market, gold edged higher early on Thursday to trade around $4,410 an ounce.

The dollar was a touch weaker against most of its Group-of-10 peers, with traders remaining focused on the yen.

The yen was steady at 159.31 per dollar early Thursday after ending the previous session 0.1% weaker. It has depreciated more than 1% in August, unwinding some of the US-Japanese efforts to strengthen the yen at the turn of the month.

“Japanese authorities have already demonstrated a willingness to act, including coordinated action with the US Treasury, and levels approaching or exceeding the recent intervention zone are likely to keep traders cautious,” said Nathan Thooft at Manulife Investment Management. “We definitely are still on intervention watch.”

Ford Motor Company plans to expand U.S. production of Lincoln vehicles beginning in 2030 and eventually stop importing vehicles from China for the luxury brand’s American customers.

The Dearborn, Michigan-based automaker said Wednesday that the expansion is expected to generate thousands of direct and indirect U.S. jobs. Ford did not disclose how much it plans to invest or identify the plants that would receive the additional production.

The move would mark a shift for Lincoln’s U.S. lineup, which currently includes the China-built Nautilus.

The redesigned Nautilus is assembled at the Changan Ford plant in Hangzhou, China, and exported to the U.S. The previous generation was produced at Ford’s Oakville Assembly Plant in Ontario, Canada.

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Ford did not specifically say whether production of the Nautilus would move to the U.S. under the 2030 plan or identify which China-imported vehicles would be affected.

The announcement comes as Ford and the broader auto industry continue to navigate higher costs and uncertainty tied to tariffs and changing global trade policies.

Ford reported approximately $3 billion in gross costs related to tariffs implemented or revised in 2025, with an approximately $2 billion impact on earnings before interest and taxes after offsets, according to the company’s latest annual report.

Ford did not say whether tariffs or other trade considerations played a role in its decision to phase out Lincoln imports from China.

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Lincoln already produces multiple vehicles in the U.S. For instance, the Navigator is assembled at Ford’s Kentucky Truck Plant in Louisville, while the Aviator is produced at the Chicago Assembly Plant. Both vehicles are also exported to markets including Canada, Mexico and the Middle East.

The additional production would expand Ford’s already sizable U.S. manufacturing footprint. The company said it assembled more than 2 million vehicles in the U.S. in 2025, more than any other automaker, and led the industry in U.S. vehicle exports and hourly autoworker employment.

Ford employs approximately 56,300 hourly manufacturing workers in the U.S., according to the company.

Ticker	Security	Last	Change	Change %
F	FORD MOTOR CO.	13.83	-0.15	-1.07%

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Several details of the 2030 expansion remain unclear, including which models will be produced domestically, where that production will be located and how much Ford plans to invest.

Mumbai The Indian rupee closed modestly higher on Wednesday, caught between the negative bias from higher crude oil prices and dollar sales by the Reserve Bank of India that helped counter the pressure.The currency closed at 95.33, 10 paise stronger from its previous close of 95.43. Dollar sales by state run banks, likely on behalf of the RBI, kept the rupee in a narrow range of95.25-95.44 , traders said. The rupee is expected to trade on a stronger footing on Thursday, between 95.00 and 95.50 as a cease fire deal was extended to August 17, which cooled Brent futures to around $85 per barrel.

NEW YORK — Shares of GameStop Corp. fell 1.86% to $18.47 in morning trading on Wednesday as investors digested reports that Chief Executive Ryan Cohen is considering withdrawing the company’s $56 billion takeover proposal for eBay Inc. in favor of a partnership or joint venture.

The stock traded lower after opening near recent levels, reflecting continued caution following a sharp drop earlier this month tied to a major debt-for-equity swap and ongoing uncertainty around the retailer’s ambitious acquisition strategy. GameStop, the specialty retailer of video games, collectibles and electronics, has seen its shares decline roughly 28% since it first floated the eBay bid in May.

According to people familiar with the matter reported by Bloomberg, Cohen is exploring an alternative structure that would let eBay use GameStop’s roughly 1,600 U.S. retail locations to expand its physical presence in high-margin categories such as trading cards and collectibles. GameStop, already one of eBay’s largest shareholders with a stake that has grown to about 9.75%, would seek board representation as part of any such arrangement. No final decision has been made, and other options remain under consideration.

The original non-binding proposal, valued at $125 per share in a mix of cash and GameStop stock, was rejected by eBay’s board, which described the offer as “neither credible nor attractive.” GameStop has continued to build its position in eBay through share purchases and options, making it the second-largest holder behind Vanguard Group funds.

The potential shift comes after GameStop announced on August 3 that it had agreed to privately exchange approximately $1.4 billion aggregate principal amount of its outstanding 0.00% convertible senior notes due 2030 and 2032 for shares of its Class A common stock. The exchange, expected to close around September 23 subject to customary conditions, retires the debt without using cash and is expected to leave roughly $1.1 billion of the 2030 notes and $1.7 billion of the 2032 notes outstanding. Shares fell more than 12% on the day of the announcement amid dilution concerns and volume that exceeded 41 million shares.

GameStop has reported improving operational results even as the eBay pursuit has dominated headlines. In its first quarter of fiscal 2026, ended May 2, the company posted net sales of $835.3 million, up 14% from $732.4 million a year earlier. Collectibles revenue jumped 65% to $348.9 million and accounted for nearly 42% of total sales, offsetting declines in software and hardware. Net income reached a company-record $389.6 million, compared with $44.8 million in the year-ago period, aided by operating improvements, lower selling, general and administrative expenses, and significant non-operating gains including unrealized gains on eBay-related options and interest income. Adjusted net income was $179.3 million.

Management has guided for adjusted EBITDA in excess of $600 million for the full fiscal year, nearly double the $345.4 million reported in fiscal 2025. The board also authorized a new $2 billion share repurchase program running through June 2029. GameStop ended the quarter with a substantial liquidity position that included billions in cash, marketable securities and related assets.

At its July annual meeting, stockholders approved an amendment increasing the number of authorized Class A common shares to 2.5 billion, providing additional flexibility for potential transactions or equity issuances. The company has also expanded its delivery options through a partnership with Uber Eats, allowing customers to receive video games, collectibles and electronics on demand.

Cohen, who has steered GameStop through aggressive cost-cutting and a pivot toward higher-margin collectibles since taking a larger leadership role, withdrew a proposed long-term performance award earlier this summer. The package, which could have been worth more than $35 billion upon hitting ambitious market-capitalization and profitability targets, was removed at his request so leadership could focus fully on operating performance and the eBay initiative. GameStop said at the time that Cohen wanted attention centered on those priorities.

The retailer continues to operate a reduced but still substantial store base that management views as a core logistics and fulfillment asset rather than a pure retail liability. International operations have been streamlined, including the earlier exit from Canada, while domestic stores remain central to the strategy.

Market reaction has been mixed. Some investors point to the improved profitability, cash position and collectibles momentum as evidence of a more sustainable business. Others remain focused on valuation, the potential dilution from the note exchange, and the gap between GameStop’s market capitalization of roughly $8.4 billion and the scale of the eBay proposal. Shares have traded in a 52-week range of approximately $18.55 to $28.10.

GameStop’s next scheduled earnings report is expected in early September for the second quarter. Until then, attention is likely to remain on any further clarity regarding the eBay relationship and the impact of the convertible-note exchange once the share-issuance details are finalized based on a volume-weighted average price reference period that began in early August.

The company has not issued an immediate public comment on the latest partnership discussions. As of the latest available filings and statements, GameStop maintains that its priority remains strengthening its core operations while evaluating strategic opportunities that could leverage its retail footprint and customer base in the growing collectibles and entertainment categories.

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