{"id":64539,"date":"2026-07-10T00:38:20","date_gmt":"2026-07-10T04:38:20","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-rally-as-us-iran-tensions-ease-china-achieves-rocket-recovery-milestone\/64539\/"},"modified":"2026-07-10T00:38:20","modified_gmt":"2026-07-10T04:38:20","slug":"global-markets-rally-as-us-iran-tensions-ease-china-achieves-rocket-recovery-milestone","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-rally-as-us-iran-tensions-ease-china-achieves-rocket-recovery-milestone\/64539\/","title":{"rendered":"Global Markets Rally as US-Iran Tensions Ease; China Achieves Rocket Recovery Milestone"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>The US Dollar Index (DXY) fell to a three-week low of 100.60<\/strong> as signs of de-escalation in the US-Iran conflict dampened safe-haven demand, while global equities in Korea and Singapore surged to record levels.<\/li>\n<li><strong>China successfully recovered the first-stage booster of its Long March 10B rocket<\/strong> for the first time via a sea-based &quot;wire-net&quot; system, marking a critical breakthrough in its race to match SpaceX (<a href=\"\/stock\/SPACE-X\">private<\/a>) in reusable launch technology.<\/li>\n<li><strong>Citigroup (<a href=\"\/stock\/C\">C<\/a>) launched a 24\/7 USD clearing service<\/strong> using Citi Token Services in partnership with Siam Commercial Bank, enabling real-time cross-border payments even during weekends and holidays.<\/li>\n<li><strong>HSBC (<a href=\"\/stock\/HSBC\">HSBC<\/a>) and UBS (<a href=\"\/stock\/UBS\">UBS<\/a>) are leading a retreat from risky private credit<\/strong>, with HSBC halting lending to speculative funds following a $400 million hit and UBS triggering an exodus from Blue Owl (<a href=\"\/stock\/OWL\">OWL<\/a>) vehicles.<\/li>\n<li><strong>UK pharmacies are bracing for a surge in demand<\/strong> as the oral version of the weight-loss drug Wegovy from Novo Nordisk (<a href=\"\/stock\/NVO\">NVO<\/a>) officially goes on sale, with 76% of pharmacists expecting a significant influx of new patients.<\/li>\n<\/ul>\n<h2>Aerospace and Defense Breakthroughs<\/h2>\n<p>China achieved a major milestone in its space program on Friday with the successful maiden flight and recovery of the <strong>Long March 10B<\/strong> carrier rocket. The first-stage booster was captured mid-air using a specialized <strong>&quot;wire-net&quot; recovery system<\/strong> on a vessel in the South China Sea, a method distinct from the vertical landings popularized by SpaceX (<a href=\"\/stock\/SPACE-X\">private<\/a>). This development is expected to significantly lower launch costs for China&#39;s future lunar and commercial missions.<\/p>\n<p>Meanwhile, Japan is preparing to test-fire its own reusable rocket prototype, the <strong>RV-X<\/strong>, on July 11. In the defense sector, Canaccord Genuity lowered its price target for AeroVironment (<a href=\"\/stock\/AVAV\">AVAV<\/a>) to <strong>$240 from $280<\/strong>, citing uncertainties regarding multi-year supplemental war funding despite the company&#39;s strong fiscal first-quarter revenue surge of 133%.<\/p>\n<h2>Financial Services and Banking Innovation<\/h2>\n<p>Citigroup (<a href=\"\/stock\/C\">C<\/a>) has moved to disrupt traditional cross-border banking by activating <strong>24\/7 USD clearing<\/strong> via its proprietary Citi Token Services. The first live transaction was completed with <strong>Siam Commercial Bank<\/strong>, moving funds between London and Thailand over a U.S. holiday weekend. The system uses a <strong>private, permissioned blockchain<\/strong> to allow institutional clients to settle transactions instantly, bypassing the traditional &quot;weekend allergy&quot; of correspondent banking.<\/p>\n<p>In the private credit market, a significant shift is underway as major lenders pull back from speculative deals. <strong>HSBC (<a href=\"\/stock\/HSBC\">HSBC<\/a>)<\/strong> has reportedly informed clients it will not renew credit facilities for riskier funds following high-profile corporate bankruptcies. This follows reports that <strong>UBS (<a href=\"\/stock\/UBS\">UBS<\/a>)<\/strong> helped trigger a massive redemption wave from <strong>Blue Owl Capital (<a href=\"\/stock\/OWL\">OWL<\/a>)<\/strong> funds, as investors grow wary of weakening underwriting standards.<\/p>\n<h2>Global Market Performance<\/h2>\n<p>Asian markets saw explosive growth on Friday, led by the <strong>KOSPI<\/strong>, which jumped 5%. The surge was so rapid that the Korea Exchange was forced to activate a <strong>&quot;buy-side sidecar,&quot;<\/strong> suspending program trading for five minutes to stabilize the market. This marks the 17th time such a mechanism has been triggered this year amid a broader AI and semiconductor-led rally.<\/p>\n<p>The Singapore stock market also gained momentum, with the <strong>Straits Times Index (STI)<\/strong> supported by record highs from major banks including <strong>DBS (<a href=\"\/stock\/DBSDF\">DBSDF<\/a>)<\/strong>, <strong>OCBC<\/strong>, and <strong>UOB<\/strong>. In the commodities space, <strong>iron ore<\/strong> is on track for its first weekly rise in a month, supported by supply constraints at BHP&#39;s (<a href=\"\/stock\/BHP\">BHP<\/a>) Port Hedland and ongoing port destocking.<\/p>\n<h2>Consumer Staples and Healthcare<\/h2>\n<p>JPMorgan analysts have raised their price target for <strong>Coca-Cola (<a href=\"\/stock\/KO\">KO<\/a>)<\/strong> to <strong>$90 from $85<\/strong>, maintaining an &quot;Overweight&quot; rating. The upgrade reflects the company&#39;s strong organic revenue growth and margin expansion, which have positioned the stock as a &quot;quality compounder&quot; in a volatile market.<\/p>\n<p>In the UK, the healthcare sector is preparing for the impact of <strong>oral Wegovy<\/strong>. A survey by the National Pharmacy Association found that nearly half of UK pharmacies have already seen an increase in queries. While the pill offers a more accessible alternative to injectables, 97% of pharmacists expressed concern over a potential rise in <strong>counterfeit weight-loss products<\/strong> on the black market.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways The US Dollar Index (DXY) fell to a three-week low of 100.60 as signs of de-escalation in the 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