- European stock market indices traded mostly higher today - German DAX gained 0.44%, French CAC40 dropped 0.32%, Dutch AEX added 0.05% and FTSE 100 moved 0.21% higher. We can see also gaining Chinese benchmark futures, driven by rebound of JD.com, Alibaba, EV and tourism sector
- Wall Street indices gained today with Nasdaq100 adding almost 0.5%, a day ahead of Nvidia Q2 earnings report. S&P 500 gainstoday 0.24%, while the DJIA session is flat. EURUSD gains 0.15% to 1.118 despite stronger than expected US CB Consumers Confidence report
- US Conference Board consumer confidence index improved from 101.9 in July (revised higher from 100.3) to 103.3 in August. Present situation index improved from 133.1 (revised lower from 133.6) to 134.4, while Expectations subindex improved from 81.1 (revised higher from 78.2) to 82.5
- Conference Board said that consumers' assessment of labor market weakened, although it still remains positive. According to CB, average 12-month inflation expectations dropped to 4.9% in August, the lowest level since March 2020
- Richmond Fed manufacturing index deteriorated from -17 in July to -19 in August (exp. -14)
- Fed Mester signaled: ‘I don’t think the Fed is behind the curve; I don’t support a 50 bps rate cut out of the box. CB index showed that average 12-month inflation expectations dropped to 4.9% in August (lowest readings since March 2020)
- Revised German GDP data for Q2 2024 showed 0.1% QoQ contraction in April-June 2024 period, matching flash estimate. On an annual basis, German economy expanded by 0.3% YoY, also in-line with flash release
- Super Micro Computer slumped today after Hindenburg Research said it took a short position on the company, saying that it may have engaged in accounting fraud
- Brent Crude loses almost 1.7% today, amid easing Middle-East tensions and complicated global economic conditions
- Soft commodities on CBOT rebounded in the second part of today's session. Both wheat and soybeans futures gain more than 2%. Also coffee surged almost 2% today, amid cold weather in Brazil
- Cryptocurrencies are under pressure, with Bitcoin price dropping below $62,000 and Ethereum losing more than 4.5% today - despite a weaker US dollar. USDIDX loses 0.22% today dropping to 100.5 level
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