Moving Markets

European markets have recently underperformed compared to their US counterparts, with German automakers weighing heavily on broader indices yesterday. Meanwhile, US technology stocks continue to power ahead, buoyed by another significant development in the AI space—the announcement of a partnership of Nvidia with one of its largest customers, OpenAI. In today’s episode of Moving Markets, we are jo...

Wall Street trades at record highs after the Fed cut rates, led by technology stocks. Investors expect further cuts, but hawkish Fed comments pushed both US Treasury yields and the dollar higher last week. In Europe, data showed industrial output rebounding; in Asia, Bank of Japan’s ETF unwind plans initially weighed on Japanese shares, but concerns are easing this Monday. Gold rises for a fifth w...

All of the major US equity indices hit a new all-time high, a day after the US Federal Reserve’s first rate cut of the year and stronger-than-expected economic data. Europe followed suit with strength in semiconductor stocks. Central banks diverged: Norway cut rates, the Bank of England held steady, and the Bank of Japan surprised by announcing plans to offload its large equity ETF holdings. Asian...

The US central bank delivered a widely expected rate cut, sparking mixed market reactions amid cautious optimism. Tech stocks wobbled, especially Nvidia, after China’s internet regulator had told the country’s tech companies to stop buying Nvidia’s AI chips and terminate its existing orders. Robotaxis and a USD 42 billion tech pact between the US and the UK fuelled gains elsewhere. Carsten Menke,...

Yesterday brought a mixed set of signals across global markets. We saw unexpected optimism from Germany, developments on the US–China trade front, stronger-than-expected US retail sales figures, and mounting anticipation ahead of the Federal Reserve’s interest rate decision. Equity markets in both Europe and the US ended the session lower, partly weighed down by profit-taking ahead of the policy a...

Global stocks rise on upbeat US-China trade talks, with technology giants driving the S&P 500 and Nasdaq to record highs. Alphabet is joining the USD 3 trillion club, while Tesla is surging after Elon Musk’s USD 1 billion share purchase. US chip stocks are facing pressure from Chinese antitrust probes, and gold is at an all-time high on rate cut expectations. European markets are gaining despi...

Markets are off to a strong start this week, which will be a critical one with a 'triple-header' of major central bank decisions. The US Federal Reserve, the Bank of England, and the Bank of Japan are all scheduled to announce their latest monetary policy moves. Recent economic data suggest it may now be time for the Fed to restart its rate-cutting cycle, following a pause that began in January. I...

marked a second consecutive pause following eight hikes since last year. In the US, data was mixed: inflation remains sticky but isn’t accelerating, and jobless claims unexpectedly surged. These developments have reinforced expectations of a Federal Reserve rate cut next week. Asian markets were lifted overnight by renewed enthusiasm around artificial intelligence. In commodities, gold is trading...

US equities surged again yesterday, closing off their intraday highs but nevertheless achieving new records. US PPI data confirmed that growth is slowing, providing more of the data that the Fed needs to start cutting rates again – markets will now scrutinise today’s CPI data for more clues. Oracle’s near 36% rally yesterday was sparked by astonishing cloud demand numbers. Asian tech also drove ma...

Stocks in the US hit another all-time high on expectations that the Federal Reserve will fight the slowdown in jobs growth with interest rate cuts. US inflation data out today and tomorrow will be the next test for markets. The Anglo/Teck ‘merger-of-equals’ creates a premier global player in copper and critical minerals. Today, we are joined by Mathieu Racheter, Head of Equity Strategy, who explai...

French Prime Minister Bayrou lost the confidence vote yesterday, triggering the collapse of his government. European markets had no chance to react, as the decision came after trading ended. The political uncertainty adds fresh strain to the eurozone, where stock markets actually started the week on a high. Speaking of highs, the Nasdaq hit a fresh record, driven by strength in tech and AI-related...

The Nikkei 225 was up around 1.5% and the Topix hit a record high this morning after Japan’s prime minister resigned over the weekend. It’s hoped that a new regime should provide greater longer-term policy and political stability, and a more conducive pro-growth environment for the equities market. Asia’s stock markets rallied after the US jobs report on Friday provided further justification for d...

The S&P 500 is trading at fresh all-time highs ahead of today’s crucial US non-farm payrolls report, which iswidely seen as the final piece of the puzzle that could give the Federal Reserve the go-ahead to resume cutting interest rates. Meanwhile, Asian markets are rising, buoyed by positive trade developments out of Japan and broader optimism in the region. Joining us today is Tim Gagie, Head...

Google avoiding worst-case penalties in its antitrust case lifted tech stocks yesterday, which drove the good performance of both the Nasdaq Composite and the S&P 500. Meanwhile, US job openings data provided a boost to US Treasuries, fuelling hopes of a September rate cut. Asia joined the rally, with the notable exception of China and Hong Kong. The latter had news specific to Nidec Corp to d...

Global long-term government bond yields spike amid renewed concerns over fiscal sustainability. This has put pressure on equities, which declined broadly – though certain sectors held up better, including luxury stocks. In the US, both major indices ended the session lower, though they recovered somewhat from their intraday lows. Meanwhile, gold emerged as a key beneficiary, climbing to new all-ti...

With US markets closed yesterday for a public holiday, attention was firmly on European markets, where equities began the new month on a positive note. Two sectors led the gains: defence and healthcare. Meanwhile, European bond markets weakened slightly, weighed down by ongoing concerns over France’s political stability and fiscal outlook. Overnight in Asia, markets traded mixed as investors diges...

August saw strong gains in global equities, particularly in the Dow Jones, as well as indices in both China, and Japan. Gold has hit a four-month high nearing USD 3,500 per ounce this morning, driven by concerns over the Federal Reserve’s independence and uncertainty around US tariffs. Silver is breaking the USD 40 an ounce level – for the first time since 2011 – boosted by supply constraints and...

Yesterday saw a flurry of economic data releases, accompanied by significant political developments. The US economy demonstrated stronger-than-expected resilience in the second quarter, expanding at a revised annualised rate of 3.3%, while recent labour market figures suggest a supportive backdrop. Meanwhile, Donald Trump’s attempt to dismiss Federal Reserve Governor Lisa Cook, followed by her dec...

French stocks have staged a modest recovery following the recent sell-off, while government bond spreads relative to neighbouring Germany have continued to widen. Meanwhile, the S&P 500 reached a new record high, as investors awaited Nvidia's Q2 earnings report after the market close. Despite exceeding analyst expectations, Nvidia's share price declined in after-hours trading. To discuss how c...

French political uncertainty sparks market jitters, sending European equities tumbling, with the CAC 40 falling a further 1.7% yesterday. In contrast, US stocks buck the trend despite concerns over the Fed's independence. Today, market participants will focus on upcoming corporate earnings, in particular Nvidia's quarterly results. And we have Dario Messi, Head of Fixed Income Research, on the sho...

The US President attempted to sack Federal Reserve Board Governor Lisa Cook yesterday – a move that saw the dollar fall and gold gain. These moves were somewhat reversed when Governor Cook’s lawyer called the action illegal and lacking proper process and Cook vowed not to quit. Trump was also in the news for threatening “200% tariffs or something” on China if it does not export rare-earth magnets...

Global markets have rallied following Federal Reserve Chairman Jerome Powell's dovish speech on Friday that opened the door to interest rate cuts. In response, stocks, bonds, gold, and crypto assets surged, while the US dollar has fallen. Asian equity markets are following Wall Street this morning, led by shares in Hong Kong. The US government will acquire a 9.9% stake in Intel. Looking ahead to t...

US stocks extended their losses amid trade tensions and mixed corporate earnings. Stronger-than-expected PMI data and warnings from Walmart, the US retail giant, that Trump's tariffs are driving up costs, have heightened inflation concerns and lifted yields. As markets are looking for direction, investors eagerly await Federal Reserve Chairman Powell's keynote speech at Jackson Hole, seeking guida...

The Nasdaq 100 fell as much as 1.5% before recovering to close just 0.6% lower. Markets remain on edge ahead of key events, including Jay Powell's speech at the Jackson Hole Symposium tomorrow, whilst the USD remains unchanged and gold rises amid concerns over Fed independence. UK inflation surged to an 18-month high and government bonds rallied, lifting large-cap UK stocks, whilst Asian markets s...

While major European stock markets experienced a cautiously optimistic trading session, buoyed by hopes of de-escalation in Ukraine, the main US indices ended the day in negative territory, led by declines in large-cap technology stocks. Nevertheless, a notable 70% of S&P 500 constituents managed to finish higher, as investors looked ahead to the Jackson Hole symposium, which begins tomorrow,...