Stocks ended sharply lower as concerns about inflation drove longer-dated bond yields to an almost two-decade high after the Federal Reserve left rates steady despite a resurgence in oil prices. The S&P 500 fell 1.5%, with the gauge also pummeled by a rout in chipmakers. The Nasdaq 100 entered a technical correction, extending a slide from a record to 11%. Treasury 30-year yields hit the highest since 2007. Brent crude topped $90. In late hours, Meta Platforms Inc. gave a lackluster forecast. Microsoft Corp.’s cloud unit grew at the fastest pace in four years. Fed Chairman Kevin Warsh insisted policymakers’ decision to leave interest rates unchanged wasn’t a sign of inertia at the central bank, which he reiterated is committed to tackling price pressures. He added markets will be freer to chart their own course based on economic signals. With guidance curtailed, “participants are learning to play the ball and not the referee,” he said, noting a tightening in financial conditions since the last meeting “provided us some comfort that we’ve got the ability and capability to deliver” on inflation. The absence of explicit forecasts - and Warsh’s nods to market autonomy - may have spurred volatility in bond rates. Apollo Global Management’s Torsten Slok said the Fed’s abandonment of guidance is fueling historic bond market volatility, sending Treasury yields swinging “up and down like a yo-yo.” Warsh’s press conference statements, which emphasized the Fed’s commitment to price stability, resilient economic growth and persistently above target inflation, suggested that some policy firming may still be warranted, although maybe not as imminently as the markets had priced, according to Tiffany Wilding at Pacific Investment Management Co. Warsh indicated that one of the key questions debated is how effective interest-rate changes are in combating economic shocks, and also how economic shocks translate into intermediate-term inflationary pressures, according to Josh Jamner at ClearBridge Investments. US After Hours MSFT +8.3% sharply higher on earnings, META -8.7% sharply lower; CORT +20.2%, FTNT +11%, SBUX +6%, CMG +5.9%, LRCX +4.7% higher on earnings; FTAI -18.4%, QCOM -6.5%, ARM -6%, HOOD -2.2% lower on earnings.
Nikkei +0.77% Hang Seng -0.06% CSI -2.18% Kospi +0.46% Shanghai -1.15% Shenzen -2.92%
Eur$ 1.1453 CNH 6.7609 CNY 6.7606 JPY 163.47 GBP 1.3347 CHF 0.8154 RUB 79.6796 TRY 47.4132 WTI$ 83.79 -0.84% Gold 4,049 +0.55% BTC 64,000 +0.90% ETH 1,902 +1,10%
S&P +0.32% Nasdaq +0.68% EuroStoxx +0.21% FTSE -0.84% Dax -0.03% SMI
Macro :
- Millennium’s New Capital Raise Targets a Record $20 Billion
- Leopold Aschenbrenner’s Situational Awareness seeks to raise capital after AI rout
- Hedge funds raise bets against US-backed critical minerals companies
Keep an eye on :
Keep an eye on :
- ABI BB : AB InBev 2Q Organic Volume Growth Misses Estimates
- AC FP : Accor Sees FY Ebitda EU1.26B to EU1.29B, Est. EU1.27B
- ADKO AV : Raiffeisen Says 56.2% of Addiko Shares Tendered Into Offer
- ADS GY : *ADIDAS 2Q OPER PROFIT EU574M, EST. EU615.6M
- ADP FP : ADP 1H Ebitda Beats Estimates
- ADP FP : ADP Targets €8.2B Investment Program Over Next 8 Years
- AIR FP : Airbus 2Q Adjusted Ebit Beats Estimates
- AIXA GY : Aixtron 2Q Revenue Misses Estimates
- AF FP : Lufthansa, Air France-KLM Submit Binding Bids for Portugal’s TAP
- ALGN US : Activist Elliott Strikes Board Settlement with Invisalign Maker
- AMG NA : AMG Boosts FY Adjusted Ebitda Forecast
- AMUN FP : Amundi Posts Record Profit as CEO Baudson Sees ‘Momentum’
- ANDR AV : Andritz 2Q Revenue Beats Estimates
- Anthropic IPO :
- ARCAD NA : Arcadis 2Q Oper Ebitda EU135M
- MT NA : ArcelorMittal 2Q Ebitda Beats Estimates, ArcelorMittal Says European Outlook Improves as Profit Increases
- ATO FP : Atos Group Sees FY Organic Revenue -5%, Saw -1% to -5%
- AKE FP : Arkema 2Q Adjusted Net Income Beats Estimates
- ARM US : Arm Results Underwhelm Amid Weaker Chip Sentiment: Street Wrap
- AVOL SW : Avolta 1H Organic Revenue Misses Estimates
- AYV FP : Ayvens 2Q Return on Tangible Equity +13.4%
- AZE BB : Azelis 1H Adjusted Ebita Beats Estimates
- BBVA SM : BBVA 2Q Net Income Beats Estimates, BBVA to Launch Up to €2b Share Buyback Program
- BCP PL : BCP 1H Net Income EU565.8M Vs. EU502.3M Y/y
- BEKB BB : Bekaert 1H Adjusted Ebit Misses Estimates
- BB FP : BIC Sees FY Adjusted Ebit Margin Above 14%
- BE US : Bloom Surges on Higher Guidance as Earnings Double Estimates
- BMW GY : BMW 2Q Automotive Ebit Margin Beats Estimates
- EN FP : Bouygues 1H Revenue Meets Estimates
- BUCN SW : Bucher 1H Ebit Misses Estimates
- CPR IM : Campari 1H Sales Beat Estimates
- CVNA US : Carvana Stock Sinks After Giving Soft Yearly Outlook
- CAP FP : Capgemini Sees FY Rev. Ex-FX +8.5% to +9%, Est. +8.53%
- CARM FP : Carmila Boosts FY Recurring EPS Forecast
- CE GY : Ceconomy Maintains FY Adjusted Ebit Forecast
- CEM OIM : Cementir Reports 1H Revenue of EUR 798.1 Million, Compared With FactSet Consensus Estimates of EUR 793.9 Million (2 Est.)
- CLARI FP : Clariane 1H Organic Revenue +4.6%
- CLARI FP : Clariane 1H Organic Revenue +4.6%
- CLN SW : Clariant Wins Dismissal of Shell’s Damage Claim in Amsterdam
- CRWV US : CoreWeave Boosts Yield on $2.6 Billion Loan Tied to Anthropic
- CTPNV NA : CTP 1H Net Rental Income EU404.8M Vs. EU360.3M Y/y
- DSFIR NA : DSM-Firmenich 2Q Adjusted Ebitda EU466M
- EDF FP : EDF Exploring Sale of Stakes in Modular Reactor Unit: FT
- EDP PL : EDP SA 1H Net Income EU732M Vs. EU709M Y/y
- ELIS FP : Elis 2Q Organic Revenue Misses Estimates
- EMEIS FP : Emeis 1H Ebitda EU461M Vs. EU380M Y/y
- ERA FP : Eramet 1H Sales EU1.55B
- EAPI FP : EuroAPI Sees FY Core Ebitda Margin About 6%
- FDJU FP : FDJ United 1H Recurring Ebitda Meets Estimates
- FBK IM : FinecoBank 2Q Revenue Beats Estimates
- FLOW NA : Flow Traders 2Q Net Trading Income Beats Estimates
- FDR SM : Fluidra 1H Net Income Misses Estimates
- IDIA SW : Idorsia 2Q Net Loss CHF107M, Est. Loss CHF52.8M (2 Est.)
- NK FP : Imerys FY Adjusted Ebitda Forecast Beats Estimates
- IFCN SW : Inficon Boosts FY Sales Forecast
- INGA NA : ING 2Q Net Income Beats Estimates
- INTC US : Intel Gives Startup Access to Some Processor Technology: Reuters
- IPN FP : Ipsen Boosts FY Sales at Constant Exchange Rates Forecast
- DEC FP : JCDecaux Sees 3Q Organic Adjusted Revenue About +5%, Est. +5.21%
- JMT PL : J. Martins 2Q Ebitda Beats Estimates
- JNJ US : Johnson & Johnson Cuts FY Adj Oper EPS Forecast, Citing Deals: Snapshot
- JNJ US : J&J Gains Option to Buy Sail Biomedicines for $2.6 Billion
- BAER SW : SIX Swiss Exchange Investigating Julius Baer Mistrades
- KARN SW : Kardex Sees FY Ebit Margin 8% to 10% (1)
- K CN : Kinross Gold 2Q Adjusted EPS Beats Estimates
- KBX GY : Knorr-Bremse Prelim 2Q Operating Ebit Margin Beats Estimates
- LI FP : Klepierre Sees FY Group NCCF/Shr High End of EU2.77 to EU2.80
- LHA GY : Lufthansa, Air France-KLM Submit Binding Bids for Portugal’s TAP
- META US : Meta Falls on Forecasts for Revenue and Spending: Street Wrap
- META US : Meta’s Zuckerberg Defends AI Bets to Skeptical Investors
- MSFT US : Microsoft Gains as Results Show Strong Cloud Revenue
- MC US : Moelis & Co 2Q Adjusted EPS Beats Estimates
- NEM GY : Nemetschek 2Q Ebitda Misses Estimates
- ONTEX BB : Ontex Sees FY Adjusted Ebitda EU165M to EU180M
- OR FP : L’Oreal Sales Lifted by Strong Demand for Haircare Products (1)
- PGHN SW : Partners Group Caps Redemptions at Flagship US Evergreen Fund
- PHARM SM : Pharma Mar 1H Net Income EU0.56M, Pharming Cuts FY Revenue Forecast (1)
- PIRC I M :Pirelli 1H Revenue Meets Estimates
- PLNW FP : Planisware 1H Revenue Beats Estimates
- PRY IM : Prysmian Boosts FY Adjusted Ebitda Forecast
- QCOM US : Qualcomm Sees 4Q Revenue $9.7B to $10.5B, Est. $9.95B: Snapshot
- RNO FP : Renault 1H Operating Margin Beats Estimates
- SCYR SM : Sacyr 1H Net Income EU78.3M
- 005930 KS : Samsung reports record profit as South Korean chip giants benefit from global AI boom
- SAN FP : Sanofi Raises 2026 Forecast for Sales Ex-FX to Around 10%
- SU FP : Schneider Electric Lifts Guidance on Booming Data-Center Market
- SCR FP : Scor 2Q Net Income Beats Estimates
- SEZSG FP : SES 2Q Revenue Misses Estimates
- WAF GY : Siltronic 2Q Ebitda Beats Estimates
- SRG IM : Snam to Shortlist Bioenerys Bidders by Fall, CEO Says
- GLE FP : SocGen 2Q Net Income Beats Estimates, SocGen Starts €1.5 Billion Buyback After Profit Beats Estimates
- SON PL : Sonae 1H Net Income EU123M Vs. EU102M Y/y
- SONO US : Sonos 3Q Revenue Beats Estimates
- SPCX US : SpaceX Gets $1.6b Award From US Space Force
- SPIE FP : Spie 1H Net Income EU112.0M Vs. Loss EU13.4M Y/y
- SYENS BB : Syensqo Sees FY Underlying Ebitda at Least EU1.10B, Est. EU1.1B
- SY1 GY : Symrise 1H Sales Beat Estimates, Symrise Maintains FY Organic Sales Forecast
- TTK GY : Takkt 2Q Ebitda EU4.6M
- TE FP : Technip Energies 1H Adjusted Recurring Ebit EU137.5M
- TIT IM : Telecom Italia 2Q Organic Ebitda After Lease Meets Estimates
- TFIN IM : Webuild Offers to Buy Trevi for EU4.50/Shr in Cash
- UCB BB : UCB 1H Core EPS Beats Estimates
- VK FP : Vallourec 2Q Revenue Misses Estimates
- VIE FP : Veolia First-Half Profit Rises as Cost Cuts Ease Mideast Impact, Veolia Raises FY Forecast for Current Net Income Growth
- VCT FP : Vicat 1H Ebitda Beats Estimates
- VKTX US : Viking Therapeutics 2Q Loss per Share $1.10, Est. Loss/Shr $1.23
- DG FP : Vinci 1H Revenue Beats Estimates
- Virgin Media : Virgin Media O2 owners weigh options to slash £22bn debt pile
- VIS SM : Viscofan 2Q Ebitda Meets Estimates
- VPK NA : Vopak Boosts FY Proportional Ebitda Forecast
- WCH GY : Wacker Chemie 2Q Ebitda Beats Estimates
- WBD IM : Webuild Sees FY Revenue Above EU13.6B
- MF FP : Wendel 1H Net Income EU69.5M Vs. EU4.3M Y/y