Global stocks traded near a record high as Asian investors renewed bets on artificial intelligence stocks after a month of volatility. Oil extended gains as Iran rejected talks with the US and a deal to reopen the Strait of Hormuz remained elusive. The MSCI All Country World Index, the broadest gauge of global equities, rose 0.1% for a seventh advance in the past eight sessions. MSCI’s Asian gauge gained 0.8%, tracking a Wall Street rally on Friday as soft US jobs data sent the S&P 500 Index to an all-time high. Chipmakers were in focus with Taiwan Semiconductor Manufacturing Co. and SK Hynix Inc. among the winners. Attention in Asia was also on the yen, which traded weaker at around 158.26 per dollar. The Japanese currency strengthened sharply on Friday after labor data was released. Elsewhere, Brent crude rose 0.9% to $84.50 a barrel, extending a rally of more than 5% over the previous three sessions. As oil advanced, Treasuries gave back some of Friday’s gains, pushing the 10-year yield up one basis point to 4.66%. The dollar strengthened. Monday’s technology rally follows weeks of volatility as investors questioned whether elevated valuations and billions of dollars in AI spending would generate adequate returns. Focus now shifts to US consumer price data due this week after Friday’s jobs report eased concerns the Federal Reserve may need to raise interest rates soon. Employers unexpectedly cut jobs in July and hiring in the prior two months was revised lower, suggesting the labor market is weaker than previously thought. Traders trimmed the likelihood of a rate hike at the Fed’s September meeting to a roughly 43% chance, down from 64% a week ago, according to swaps data compiled by Bloomberg. Elsewhere, Treasuries surrendered some of their gains caused by the US jobs data. On Friday, two-year yields, the most sensitive to Fed policy expectations, dropped as much as nine basis points after the jobs report before ending about five basis points lower at 4.19%. That marked their biggest weekly decline since May. The yield on the two-year note rose two basis points to 4.21% on Monday. In other corners of the market, gold fell 0.4% to about $4,325 an ounce after a 7.3% advance last week. It was the best weekly gain for the metal since January. Back to geopolitics, President Donald Trump on Sunday signaled patience, in an interview with Axios, saying the US could wait for Tehran’s economic suffering to soften its stance. The comments followed weeks of Trump threatening massive airstrikes on Iran only to pull back, saying he wanted to give negotiations a chance. Investors can’t be too bearish given Trump is likely to back away from his threats again, particularly as his approval ratings have fallen to fresh lows, My Bui, an economist at AMP Ltd., wrote in a note to clients.
Nikkei +2.05% Hang Seng +0.68% CSI -0.47% Kospi +0.49% Shanghai +0.19% Shenzen -0.33%
Eur$ 1.1549 CNH 6.7469 CNY 6.7469 JPY 158.21 GBP 1.3484 CHF 0.8092 RUB 82.3400 TRY 47.7153 WTI$ 78.69 +0.68% Gold 4,325.26 BTC 65,026 -0.20% ETH 1,919.24 -0.12%
S&P +0.14% Nasdaq +0.28% EuroStoxx +0.01% FTSE -0.31% Dax -0.01% SMI +0.02%
Macro :
- UK Regulator Prepares Framework for Tokenised Gold: FT
- Iran Shakes Up Security Team After Saying Oman Deal ‘Very Close’
- Iran Shakes Up Security Team After Saying Oman Deal ‘Very Close’
- RFK Jr. Criticizes US Covid Response at CDC Shooting Memorial
- Situational Awareness Bets $400 Million on Stealth Chip Startup Source Foundry -- WSJ
- US Sues Kahn on Hedge Fund Collapse, Indicts Executive
- Pentagon Sets Funds, Dates for Secret Golden Dome Space Program
- I’m not ashamed of funding Extinction Rebellion, says City billionaire
- Taiwan Plans Record NT$1.1 Trillion Defense Budget, CNA Reports
- NYSE Optimistic on IPO Pipeline in 2026, 2027: President Martin
-US Polysilicon Levies Hit SE Asia, Reveal Future
Keep an eye on :
Keep an eye on :
- ABCL US : AbCellera Biologics Rises on Plan to Give Data on ABCL635 Trial
- AMZN US : Amazon data center plant in Texas could become America’s biggest polluter
- ASH US : Ashland Is Said to Explore Sale After Getting Takeover Interest
- BRK/A LN : Berkshire Hathaway 2Q Operating Earnings $12.98B Vs. $11.16B Y/y
- CO FP : Casino Group Says In Talks With Quatrim Creditors
- CVX US : Chevron Sees ~$12.5b Added Free Cash Flow by 2026
- EZJ LN : EasyJet in tie-up talks with Virgin Atlantic after Apollo takeover
- EL FP : The family dispute paralysing one of corporate Italy’s top power brokers - FT
- 5020 JP : Eneos Said to Acquire TPC Group at $1.3 Billion Enterprise Value
- G1A GY: GEA Group 2Q Adjusted Ebitda Beats Estimates
- RMS FP : Billionaire McCourt Bets $300 Million on Horse Jumping Shakeup
- ITX SM : Shein Valued at $22 Billion to $25 Billion Ahead of IPO, BI Says
- LGO US : Non-Opioid Painkiller Maker Latigo Jumps 17% After Upsized IPO
- NVDA US : Nvidia to Invest Up to $3b in Lancium: Information
- PPC GA : Greek PPC to Buy 2GW Renewable Portfolio in Poland and Hungary
- TISG IM : Italian Sea Group Starts Process to Identify Possible Investors
- SPCX US :Musk Says V3 Satellites Are More Capable Than Current Ones
- SPCX US :Musk Says V3 Satellites Are More Capable Than Current Ones
- SPCX US : Cursor Says SpaceX Acquisition Could Finish Soon: Information
- TALK LN : TalkTalk Nears Exclusive Talks to Sell Wholesale Business: Sky
- UCG IM : UniCredit Plans €2b special Dividend from German HVB Unit
- ZIM US : Israel Likely to Oppose ZIM Sale to Hapag-Lloyd, Calcalist Says