Stocks trod water as traders awaited Wall Street’s reopening after the long weekend for direction in what is historically the weakest month for US equities. A gauge of Asian shares swung between small gains and losses while equity-index futures for the US and Europe edged marginally lower. Gold reached a record high Tuesday with traders positioning for an interest-rate cut by the Federal Reserve this month.
The Bloomberg Dollar Spot Index gained for the first time in six days while the Treasury curve steepened as cash trading resumed following the Monday holiday. The yield on the 10-year benchmark rose almost two basis points to 4.25%. Oil drifted higher with attention on an upcoming OPEC+ meeting. After a selloff in technology shares on Wall Street Friday, the record-breaking stock rally faces a pivotal test this month, with jobs numbers, inflation data and the Fed’s rate call all landing within the next three weeks. Tariff tensions and questions over the Fed’s independence are also compounding the risks in September, historically the weakest month of the year for US markets. Traders’ attention Tuesday was on gold, the go-to haven in times of political and economic turmoil that also tends to benefit from lower rates. The metal has also found support this year as investors seek safety from market turmoil fueled by US President Donald Trump’s global trade war. Trump’s escalating attacks on the Fed have become the latest cause for investor alarm, with concerns over the central bank’s independence threatening to erode confidence in the US. Michael Hartnett, Chief Investment Strategist at BofA Global Research, discusses his outlook for global markets and investment strategy. Another key factor for the markets is the Cboe Volatility Index sitting at 16.12, not far off its 2025 closing low of 14.22. It’s a crucial time for the markets with major catalysts beginning to hit starting Friday with the monthly jobs report. Then, inflation takes the stage with the consumer price index report arriving on Sept. 11 and on Sept. 17, the Fed will give its policy decision and quarterly interest-rate projections. Swaps markets are pricing in roughly 90% odds that the Fed will cut them at this meeting. Also, the pace of new corporate bond sales is expected to pick up dramatically this week with syndicate desks forecasting $55 billion on offer. In Japan, 10-year bonds gained after the strongest auction since 2023. The yen fell 0.3% against the dollar after Bank of Japan Deputy Governor Ryozo Himino’s speech provided few clues on the future direction of interest rates. Meanwhile, Trump said India offered to cut its tariff rates following the US imposition last week of 50% levies as punishment for the South Asian country’s purchases of Russian oil. In Indonesia, stocks rebounded Tuesday after the nation’s finance minister pledged to improve the government’s policies, a move seen as easing political tensions.
Nikkei +0.09% Hang Seng -0.29% CSI -0.74% Shanghai -0.50% Shenzen -1.87%
Eur$ 1.1692 CNH 7.1411 CNY 7.1431 JPY 147.88 GBP 1.3523 CHF 0.8018 RUB 80.7135 TRY 41.1492 WTI$ 64.93 +1.44% Gold 3,495 +0.55% BTC 110,149 +1.18% ETH 4,384 +2.20%
S&P -0.12% Nasdaq -0.20% EuroStoxx -0.09% FTSE -0.07% Dax -0.13% SMI +0.04%
Macro :
- French Far Right Builds Momentum as Premier Heads Toward Exit
- Deutsche Bank, Siemens Energy, Argenx to Join Euro Stoxx 50
- Norway Decides on Three Areas for Offshore Fish Farming
Keep an eye on :
Keep an eye on :
- ABVX FP ; added to Stoxx Europe 600
- ACKB BB : Ackermans & Van Haaren Commits $20M to 2nd Fund of Venturi
- BABA US : 9988 HK : -1.68%
- ARGX BB : added to EuroStoxx 50
- BAS GY : deleted from EuroStoxx 50
- BBVA SM : added to EuroStoxx 50
- BWLPG NO : BW LPG’s Unit Sells Lord for About $61M Net Cash on 100% Basis
- BYD 1211 HK +0.55%
- CATL : 3750 HK : -2.10%
- CNA LN : Centrica Reports Life Extensions for Two Nuclear Power Stations
- CRI FP : Chargeurs Invest Considering Possible Sale of Novacel
- COLOB DC : Coloplast Sees Organic Revenue Growth of 7-8% Until FY 2029/30
- DBK GY : added to EuroStoxx 50
- DBK GY : Deutsche Bank to Rejoin Euro Stoxx 50 After Seven-Year Absence
- DKG GY : Deutsche Konsum REIT-AG Completes Restructuring Concept
- DEZ GY : Deutz Buys Sobek Group; No Deal Terms
- DKSH SW : DKSH to Buy Distributor Aston Chemicals With Sales of ~CHF20m
- DOKA SW : Dormakaba FY Net Sales Meet Estimates
- DOKA SW : Dormakaba FY Net Sales Meet Estimates
- FRA GY : added to Stoxx Europe 600
- GX1 GY : added to Stoxx Europe 600
- GIMB BB : Gimv Net Asset Value per Share €52.4 at End June 2025
- GRE SM : Grenergy to Sell Phase 4 of Oasis de Atacama for $475m
- GRE SM : Grenergy to Sell Phase 4 of Oasis de Atacama for $475m
- INPST NA : InPost 2Q Revenue Beats Estimates
- ITH LN : Ithaca Energy Holders Delek, Eni UK Offer About 33m Shares
- LLBN SW : Liechtensteinische LB to Exit UAE, Refer Clients to Rothschild
- MAR PL : Martifer Board Calls Visabeira Takeover Offer ‘Adequate’
- MB IM : Monte Paschi Raises Mediobanca Bid by Adding About €750M Cash
- MBG GY : deleted from EuroStoxx 50
- NESN SW : Nestle Names Philipp Navratil CEO After Dismissal of Freixe
- NESN SW : Nestle Dismisses CEO Freixe Over Relationship With Subordinate
- NIO US : 9866 HK : -1.70%
- NOKIA NO : deleted from EuroStoxx 50
- NDX1 GY : added to Stoxx Europe 600
- NOVN SW : FT : How Novartis got ahead on ‘incredible’ cancer breakthrough
- ORSTED DC : Orsted to Announce Rightsizing Before Year-End: Berlingske
- ONT LN : Oxford Nanopore 1H Revenue Beats Estimates
- PGHN SW : Partners Group 1H Profit Meets Estimates
- PHARM NA : Pharming Group Names Kenneth Lynard as CFO
- PRADA : 1913 HK : +1.20%
- RHM GY : added to EuroStoxx 50
- RI FP : deleted from EuroStoxx 50
- ENR GY : added to EuroStoxx 50
- GLE FP : ASIC Fines SocGen Securities A$3.88m Over Gatekeeper Failures
- S92 Gy : SMA adjusts sales and earnings guidance for the 2025 fiscal year and broadens scope of restructuring measures --> -18%
- STLA IM : Italy Aug. New Car Sales Fall 2.68% Y/y
- STLA IM ; deleted from EuroStoxx 50
- TSLA US : Tesla Books About 600 Orders in India Debut, Well Short of Goals
- Thames Water Thames Water’s Senior Creditors Mull Deal Sweetener: Sky
- TXGN SW : Swiss Marketplace Group Plans to List on SIX Swiss Exchange
- UBSG SW : Swiss Marketplace Group to IPO in Switzerland, Terms Show
- UPR ID : Uniphar 1H Revenue Beats Estimates
- VLRA FP : deleted from Stoxx Europe 600
- WHA NA : Wereldhave Says Dennis de Vreede to Step Down as CFO at 2026 AGM
- WIZZ LN : Wizz Air Aug. Passenger Traffic +11.4%
- ZEG LN : added to Stoxx Europe 600