Financial markets traded in a narrow range, with global equities holding near record highs, after Donald Trump’s meeting with Ukraine’s president and European leaders ended with a call for a summit with Russia. European equity-index futures gained 0.2% as leaders of the US, Ukraine, Europe and NATO touted progress on peace talks to end the war in Ukraine. Oil slipped 0.7% amid speculation that a ceasefire could lead to more Russian supply. Asian shares were flat while stocks in mainland China held near their decade-high level. Japanese government bond futures extended losses after sale of a 20-year government debt drew weak demand. Contracts for US stocks fell 0.1% and Treasuries were steady after S&P Global Ratings affirmed its AA+ long-term rating for the US, as well as its A-1+ short-term rating. A gauge of the dollar was little changed. Markets were cautiously optimistic on the Ukraine peace process after Trump urged Vladimir Putin to begin planning a summit with Volodymyr Zelenskiy. Investors face a pivotal week as the Federal Reserve’s annual Economic Policy Symposium kicks off Thursday in Jackson Hole, Wyoming, potentially offering signals on the path of interest rates. Trump called Putin and urged the Russian leader to begin making plans for a summit with Zelenskiy, after meeting the Ukrainian president and European leaders at the White House on Monday. The proposal — which Trump pitched as a one-on-one summit between Ukraine and Russia’s leaders that would be followed by a trilateral gathering involving all three — represented the latest turn in the US president’s push to broker a quick end to a conflict that has lasted over three years. The people in Ukraine and Russia “are tiring of the war, and that usually is a good sort of precondition for bringing this war to an end,” Ruchir Sharma, founder of Breakout Capital Partners LP said in a Bloomberg TV interview. “There is potential for upside here over the next few months. The biggest beneficiary will be Europe in terms of the ending of the Ukraine war.” Meanwhile, Powell is expected to unveil the Fed’s new policy framework — the strategy it’ll use to achieve its inflation and employment goals. Powell may also drop some hints about the Fed’s thinking ahead of its September policy meeting. Interest-rate swaps show a roughly 80% chance that the Fed will lower rates next month by 25 basis points, with two cuts fully priced in by the end of the year. In Japan, a 20-year government bond auction drew demand that was weaker than its 12-month average, reflecting investor caution about longer dated debt amid fiscal risks like higher government spending and tax cuts. Elsewhere, Chinese equities held on to their gains. While the Shanghai Composite Index’s climb to a decade high on Monday has been partly fueled by cash-rich investors looking for better returns than bonds, their pace of positioning has been more measured than in previous equity surges, analysts said. Separately, the S&P said the US can maintain its credit strength despite the fiscal hit of a recent spending bill, in part because tariff revenues will reduce the pain. S&P affirmed its credit rating for the world’s largest economy. US After Hours PANW +5.2% higher on earnings, also founder retires; FN -8.4%, XP -2.3% lower on earnings; CXW +1.6% and ALG +0.1% name new CEOs.
Nikkei -0.1% Hang Seng +0.04% CSI -0.14% Shanghai +0.11% Shenzen +0.17%
Eur$ 1.1665 CNH 7.1843 CNY 7.1818 JPY 147.72 GBP 1.3509 CHF 0.8069 RUB 80.4389 TRY 40.8952 WTI$ 63.00 -0.66% Gold 3,3340 +0.19% BTC 115,443 -0.89% ETH 4,245.7 -2.05%
S&P -0.21% Nasdaq -0.24% EuroStoxx +0.18% FTSE +0.11% Dax +0.10% SMI +0.27%
Macro :
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Keep an eye on :
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