- Tuesday's session on European markets saw sharp declines. The German DAX lost 0.75% today, the French CAC40 was down 0.3%, and the British FTSE 100 lost 0.56%. At the same time, the Polish WIG20 lost 0.97%.
- On Wall Street, we are seeing improved sentiment relative to the opening of the US trading floor. The Nasdaq is now adding 0.55%, the S&P500 is gaining 0.25%, and the Dow Jones has erased early declines and is now up 0.05%.
- The EURUSD pair is trading down after JOLTS data showed a higher-than-expected and higher-than-previous number of vacancies in the U.S. economy while analysts were expecting a decline.
- No words were said at today's conference by Powell and Lagarde that could in any way 'hit' the markets and the prevailing consensus. In general, both Lagarde and Powell believe that inflation will decline and in a year's time will be at lower levels than now. However, it will still be crucial to decide on rates from meeting to meeting, thus keeping a close eye on incoming data.
- Inflation in the Eurozone is performing mixed - on the one hand, the annual base rate remains unchanged, while on the other hand, the monthly rate is performing lower. We do not have the scale of the surprise as in the case of Germany.
- On the corporate side, investors' attention turned today toward Tesla, where we saw a near 8% gain on higher car deliveries for the second quarter of this year.
- Tesla's three-month call skew - which measures the premium of a call option over a put option - is at its widest since February 1, 2021, according to data compiled by Bloomberg.
- The stock price of Novo Nordisk, Europe's star performer in recent quarters, was shaken today by Joe Biden's statement. The U.S. president announced the need for price cuts in anti-obesity drugs.
- U.S. Henry Hub natural gas futures (NATGAS) lost more than 2% today and slid below $2.5 per MMBtu. Weather forecasts suggest a wave of cooler temperatures moving toward the central US states and a gentle drop in temperatures on the East Coast.
- Declines dominate the crypto market. Bitcoin is losing 1.7% and Ethereum is down nearly 1.2%.
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