China has established the largest semiconductor investment fund in the country’s history, aiming to boost the development of the domestic chip industry. This move comes as Beijing strives for self-sufficiency in response to the US’s efforts to limit its growth.

A recent study conducted by the Federal Reserve Bank of San Francisco predicts that extreme heat will have a negative impact on the US economy. The study highlights that the construction sector, which contributes significantly to the country’s economic output and employs a large number of outdoor workers, will be particularly vulnerable.

The Nasdaq achieved a historic milestone on Tuesday, surpassing 17,000 for the first time ever. This achievement was driven by the strong performance of Nvidia, which saw a 7% increase in its stock price. This positive momentum also benefited other chip stocks, leading to a 1.9% rise in the semiconductor index.

European shares are expected to see modest gains following a slight increase in Asian shares, as the dollar weakens ahead of key inflation data that could impact global monetary policy decisions.

Indian billionaire Anil Agarwal’s company Vedanta Ltd. is reportedly considering a share sale in the coming weeks that could potentially raise up to 85 billion rupees ($1 billion), according to sources familiar with the matter.

Gold prices remained stable on Tuesday as the dollar weakened and investors awaited important U.S. inflation data that could provide insight into the Federal Reserve’s timeline for interest rate cuts. The spot price of gold held at $2,349.89 per ounce at 0600 GMT, following a 1% increase in the previous session.

The dollar weakened on Tuesday as risk appetite increased slightly, but it remained stable against other currencies as investors awaited key inflation data from major economies.