A global stock rally that brought equities within striking distance of an all-time high lost further ground as oil jumped on renewed Middle East tensions, stoking concerns about inflation. Treasuries declined. The MSCI All Country World Index — a key barometer of global stocks — fell 0.2%, pulling further away from its record high after coming within 1.5% of the peak earlier this week. Wall Street benchmarks slipped Wednesday, a day after closing at records, and Asian shares followed them lower with a 1% decline. Global benchmark Brent rose 2% to climb above $102 a barrel. The advance pressured Treasuries, pushing up the benchmark 10-year yield by two basis points to 5.31%, approaching levels last seen in 2002. Oil rose after a report that the White House asked the Pentagon to draw up strike options against Iran that could be executed before the midterm elections, and as a storm shut some US output. Iran-backed Houthis struck two airports in Saudi Arabia, killing three people as the group intensified its attacks on the kingdom, while also fighting Riyadh-backed forces in Yemen. Higher oil prices are complicating the outlook by adding to inflation pressures after the Federal Reserve raised interest rates last month, a move officials unanimously backed. US stocks had largely shrugged off higher rates and elevated oil prices to reach records, but the earnings season starting next week will test whether billions of dollars poured into the artificial intelligence buildout can deliver commensurate returns. All 19 Fed officials backed last month’s decision to raise the target range for the benchmark rate by a quarter point, the first increase since July 2023. The move came as policymakers saw signs of renewed strength in the economy. Elsewhere, Samsung Electronics Co. shares fell 1.3% as the company’s record profit was still short of average analyst estimates. Japanese equities were down for a second day as changes to TOPIX weightings prompted selling in stocks set to see their index presence reduced. A Bloomberg gauge of the dollar held its gains from Wednesday’s session, when it rose 0.3%. Shipping costs have surged alongside oil prices as geopolitical tensions disrupt energy markets. Rates for hiring supertankers to transport oil hit a fresh high, adding sharply to costs across the petroleum supply chain. Meanwhile, the euro steadied against the dollar as traders monitored France’s fiscal strains, which threaten to pull the European Central Bank into its sharpest confrontation with markets since the euro-area debt crisis. France’s finance ministry said it isn’t changing its bond-issuance strategy. The market will keep pushing French spreads wider until it meets an official response strong enough to turn the tide, said Sean Keane, chief strategist for Asia Pacific at JB Drax Honore. That will require cooperation from Berlin as well as Brussels, he said.
Nikkei -0.68% Hang Seng -0.47% CSI -0.78% Kospi -1.30% Shanghai -0.57% Shenzen -1.30%
Eur$ 1.1204 CNH 6.7025 CNY 6.7030 JPY 158.23 GBP 1.3206 CHF 0.8332 RUB 85.5090 TRY 49.2142 WTI$ 90.17 +2.29% Gold 4,129 +0.40% BTC 82,945 -0.67% ETH 2,573 -0.23%
S&P -0.04% Nasdaq -0.05% EuroStoxx +0.03% FTSE -0.02% Dax -0.03% SMI
Macro :
- Italy Explores Buying MTS Bond Market to Ensure Debt Control
- Novogratz Joins Crowd Warning of AI Bubble, Says Pile In Anyway
- Italy Data Center Group Sees Investments Reaching €37 Billion
- Italy Data Center Group Sees Investments Reaching €37 Billion
- Tropical Storm Isaias Shuts 25% of Gulf Oil Production: MMA
- Trump to Honor Musk, Huang Among Other Tech CEOs Thursday: Fox
- Switzerland Confirms Data Leak at Pension Fund Supplier
Keep an eye on :
Keep an eye on :
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- ARGXB BB : Argenx’ Unity Trial in Sjögren’s Disease Fails Primary Endpoint
- BAMBN NA : BAM Acquires A.Hak at €504M Enterprise Value
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- CSG NA : Hanwha Teams Up With CSG for Chassis of New US Artillery System
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- DOV IM : doValue Cuts ‘26 Ebitda View, Targets €330m–€350m Ebitda by ‘29
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- ENGI FP : France Awards Solar Projects at Lower Cost, Launches Wind Tender
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- FAGR BB : Fagron Sees FY Revenue EU1.13B to EU1.15B, Est. EU1.14B
- GOOGL US : Isomorphic Labs in Funding Talks for Over $40 Billion Value
- GTT FP : GTT Gets Jiangnan Shipyard Order for Tanks of Two LNG Carriers
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- OROX IM : Gens Aurea Offering by Holder Mattina Prices at EU12.50/Share
- 9863 HK : Leapmotor Brushes Off Europe Curbs With Plan to Sell New Hybrid
- LULU US : Lululemon's New CEO Shakes Up Management
- NOVN SW : Isomorphic Labs in Funding Talks for Over $40 Billion Value
- OCI NA : OCI Says Amsterdam Court Dismisses VEB Inquiry Petition
- Open AI IPO : OpenAI Says GPT-6 Sol, GPT-6 Luna Meet Alignment Safety Bar
- OPM FP : OPmobility Lowers FY Profit Targets, to Cut Around 770 Jobs, French Auto Parts Supplier Cuts Guidance as Plant Halts Bite
- PNN LN : Pennon Announces Bigger-Than-Expected Capital Raise: ECM Watch
- PFE US : Pfizer’s TUKYSA Gets FDA OK as Front-Line Breast Cancer Med
- 000660 KS : SK Hynix’s Solidigm Is Said to Pick Banks for US IPO Next Year
- SDLF LN : Aberdeen Set to Halve Ownership Stake in Insurer Standard Life
- SZU GY : Suedzucker 2Q Ebitda EU168M
- TGS NO : TGS 3Q Contract Seismic Allocation 53%
- 2330 TT : TSMC’s Quarterly Revenue Jumps 51% After AI Demand Holds Up
- UNI IM : Unipol to Raise up to €2.5b in Rights Offering
- UPS US : UPS Worker Missed Security Email, Letting China Get F-35 Parts
- VLA FP : Valneva Says UK Marketing Authorization for Ixchiq Was Revoked
- VOW GY : Volkswagen Has No Plan to Sell Ducati Over Next Three Yrs: Sole
- BULL US : Webull Report Is Released by House China Panel: Read It Here
- WSE US : Wise in Talks With HMRC on Settlement for Tax Error: FT
- WSE US : Wise in Talks With HMRC on Settlement for Tax Error: FT
- ZEAL DC : Zealand Pharma’s Petrelintide Cut Mean Body Weight Up to 9.2%