- U.S. indexes are having a mixed session today. The S&P 500 remains near the previous session's opening price, the Dow Jones gains 0.4%, the Nasdaq 100 loses almost 0.6%, and the Russel 2000 continues its 0.3% gains.
- Growing concerns about demand for new iPhones are pushing Apple's stock price down nearly 3% today. Along with the company, its suppliers are losing today, including Broadcom (-2.6%), Skyworks (-6.3%), Qorvo (-7%) and Cirrus Logic (-6.2%).
- Intel is gaining nearly 4% today following news that the company has received a grant worth about $3.5 billion to produce semiconductors for the Pentagon.
- Europe was dominated by slight declines today. Germany's DAX lost 0.35%, France's CAC40 about 0.2%, Italy's IT40 closed near its previous closing price, and the Stoxx Europe 600 lost about 0.2%.
- As the Fed approaches a potential interest rate cut, U.S. bond yields are falling. Yields on 10-year bonds fell to 3.6%, the lowest since mid-2023. Yields on 10-year German bonds also recorded declines, falling to 2.1% (-0.026 p.p. ).
- The NY Empire State industrial index turned positive for the first time since November 2023. The reading pointed to 11.5 (vs. forecasts: -4 and values for August: -4.7).
- The price of coffee contracts hit the $260 level today, breaking through the 2022 peaks and recording the highest value in more than 13 years.
- In the face of crop concerns along with hurricane risk and lower production forecasts, COTTON contracts continue its increases, gaining more than 4% today. Among other agricultural commodities, high gains are also seen in cocoa contracts (+1.3%), while wheat is down -2.3%.
- The accident at the Vandeta alumina refinery in India has put further pressure on aluminum supply. As a result, contracts for the metal are up 1.6% today.
- Oil prices are gaining in today's session despite weak economic data from China. Crude prices are still under pressure from supply constraints from the Gulf of Mexico and Libya. OIL is up almost 1% today, and OIL.WTI is up 1.4%.
- NATGAS is up more than 3% today, breaking through the $2.38 level and thus setting the highest value since July this year.
- Among the G10 currencies, the British pound (+0.6%) and the Australian dollar (+0.6%) The New Zealand dollar (+0.5%) and the Norwegian krone (+0.5%) are the best performers.The U.S. dollar, however, is losing (-0.4%).
- Weak sentiment persists in the cryptocurrency market. Bitcoin is losing 3.3% and testing $57,700. Ethereum is also down more than 3%.
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