The Overnight News Roundup - June 24

Your Daily Edge: Overnight Headlines for Traders, Analysts, and Market Observers

Jun 24, 2025

PiQ and Zack Eiseman provide you with a consolidated roundup of the overnight news that matters most to markets.

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IRAN:

Israeli emergency responders said four people were killed in an Iranian missile attack early Tuesday, after President Trump initially said the countries had agreed to a cease-fire that could lead to the end of the war. (WSJ)
Israel PM Netanyahu later confirmed the ceasefire with Iran, claiming all the war’s objectives were achieved, but said Israel would respond forcefully to any violation of the ceasefire. (Newswires
Iran’s foreign minister said Tehran would stop fighting if Israel ended its attacks. (WSJ)
Trump posted on Truth again later at c. 9am local time in Israel: "THE CEASEFIRE IS NOW IN EFFECT. PLEASE DO NOT VIOLATE IT!" (Truth Social)
The U.S. government and state regulators warned companies to watch for cyberattacks linked to the conflict with Iran, urging them to bolster their defenses. (WSJ)

MACRO:

Trump repeated his criticism of Fed Chair Powell on Truth ahead of his appearance in Congress, saying, "We should be at least two to three points lower.... If things later change to the negative, increase the Rate..." (Truth Social)
Senate Republicans are coming around to the $40,000 cap on state and local tax deduction key House lawmakers demand in President Donald Trump’s massive tax package, but they want to lower the income threshold. (BBG)
Japan's tariff negotiator Ryosei Akazawa is arranging his seventh visit to the United States for as early as June 26th, aiming to end tariffs that are hurting Japan's economy, two Japanese government sources told Reuters. (RTRS)
An auction of 20-year Japanese government bonds received stronger demand compared to the previous sale held last month. The auction received bids worth 3.11 times the amount sold, higher than a ratio of 2.5 times at the previous auction. (RTRS)
Japan reappointed top foreign exchange diplomat Atsushi Mimura for a second year, the finance ministry said on Tuesday, cementing his role in the country's current U.S. tariff negotiations. (RTRS)
Chinese ports just had their busiest week on record, likely due to exporters racing to get goods into the US as quickly as possible ahead of tariffs that may be imposed early next month. (BBG)
China’s oil refiners are keeping to the sidelines of global crude markets, as geopolitical developments roil prices and weaker domestic demand eats into their profitability. (BBG)
China’s coal glut is resulting in an increasing number of unwanted cargoes being offered abroad. China's coal exports increased by 13% in the first five months of 2025 compared to the same period last year. (BBG)
China’s advantages in developing AI are about to unleash a wave of innovation that will generate more than 100 DeepSeek-like breakthroughs in the coming 18 months, according to a former top official. (BBG)
China is on target to launch a unified national power trading market by the end of this year, according to its main electricity grid operator. (BBG)
Negotiations over France’s contentious retirement reform ended in deadlock late Monday, raising the chances of government collapse should opposition parties unite in a no-confidence vote. (BBG)
ECB's Villeory said the ECB could still cut rates despite oil market volatility. (FT)
South Korea reiterated its call to be exempted from US tariffs including duties affecting key industries such as cars and steel, Trade Minister Yeo Han-koo said after his first meeting with US counterparts since taking up his position. (BBG)
South Korea’s consumer confidence rose to the highest in four years as easing domestic political uncertainty, fresh fiscal stimulus and hopes for pro-growth policies under the new administration buoyed sentiment. (BBG)

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GEOPOLITICAL:

China on Monday accused Taiwanese President Lai Ching-te of "heresy", hostility and provocation, after a speech in which he said the island is "of course" a country and there is historical evidence and legal proof to back this up. (RTRS)
UK PM Starmer will vow to spend 5% of British economic output on security by 2035, embracing an ambitious NATO target sought by President Trump without providing a path on how to get there. (BBG)

EQUITIES:

Amazon plans to invest about $54 billion in the U.K. over the next three years to boost innovation and support the country’s artificial-intelligence drive. (WSJ)
Nvidia CEO Jensen Huang has started selling the chipmaker’s stock, his first transactions under a plan that allows him to offload up to $865 million worth by year’s end. (BBG)
The U.K.’s antitrust authority said it proposed to designate Google as having strategic market status in general search and search advertising, paving the way for measures that could change how the U.S. tech giant operates. (WSJ)
KB Home cut its outlook for the year again after posting lower profit and sales for its fiscal second quarter as housing-market conditions remain sluggish. (WSJ)
Starbucks said it’s not currently considering a full sale of its China business, disputing a report from Caixin Global that had sent the shares higher in late trading. (BBG)
Omnicom Group can proceed with its proposed acquisition of rival Interpublic Group after the companies promised not to collude on politically motivated ad boycotts, the Federal Trade Commission said. (WSJ)
U.S. semiconductor supplier Wolfspeed signed a restructuring deal with top creditors to cut roughly $4.6 billion in debt through a bankruptcy filing. (WSJ)
Foxconn’s order visibility for AI servers extends into 2027, according to a company spokesman, who added orders continue to outpace capacity. (UDN)
Chinese investors have steadily reduced their exposure to Tencent Holdings Ltd. over the past two months as the tech giant struggles to maintain market enthusiasm. (BBG)
Asian technology stocks may rally another 15%-20% this year, driven mainly by the strong momentum in the artificial intelligence space, according to JPMorgan. (BBG)
Samsung Electronics Co. will hold its latest launch event on July 9, introducing new foldable smartphones and other Galaxy devices. (BBG)
AstraZeneca’s Datroway drug has been approved in the U.S. to treat adult patients with non-small cell lung cancer. (WSJ)
Virgin Australia, the country’s second-biggest airline, soared on its return to the stock exchange following a five-year absence and restructuring from pandemic-driven bankruptcy. (WSJ)