- For the European market, today's session brought gains on most indices. Both the French CAC40, the German DAX, the Italian IT40 and the Stoxx Europe 600 are posting almost 0.9% gain today.
- Apple shares are losing value after the publication of the "Apple Event", where the company's latest products were presented, along with the key iPhone 16. However, it was after its presentation that the shares reversed early gains, which may indicate that the new phone does not meet investors' expectations.
- American indices are on the bullish wave. The S&P 500 is gaining about 1.1%, the Nasdaq 100 is growing by 1.2%, and the Dow Jones is growing by over 1.2%.
- Summit Therapeutics is rising by over 57% after the publication of the results of the third phase of the lung cancer drug trial. Insurance company shares are recording a decline today after the Biden administration expanded requirements for health plans to include mental health issues. CVS Health is down more than 2% today, while Humana is down more than 4%.
- Kering shares are down as much as 2.9% after the luxury company was downgraded by analysts at Barclays and RBC. What’s more, Barclays also downgraded its rating on Burberry (-5.1%), lowering its outlook for the entire sector. Analysts are taking a more cautious view of the sector, saying the weakness in luxury in the country is structural, not just cyclical.
- Yields on 10-year U.S. Treasury bonds are down to 3.7%. Yields on 10-year German Treasury bonds are also down, currently at around 2.168%. The biggest increase in yields is seen in the Japanese debt market. Yields on 10-year Japanese Treasury bonds rose to 0.901%, up 5.5%.
- Cocoa futures are up more than 4% today. Coffee futures are also up, up almost 3.9%.
- Precious metals are strong today. Gold is up 0.2%, silver is up 1.2%, and palladium is up over 3%.
- NATGAS is down over 5% today.
- According to Bloomberg, the path of Tropical Storm Francine could cut through federal leases that provide ~124.8k b/d of oil and 298.2m cf/d of gas.
- The Norwegian krone is the worst performer among G10 currencies, down over 1% against the basket. The Swedish krona (-0.6%) and the Swiss franc (-0.6%) are also depreciating. The US dollar is the biggest gainer (+0.3%).
- We are seeing a significant rebound today in the cryptocurrency market. Bitcoin is up nearly 4% today and is back above $56,000. At the same time, Ethereum is down 2.7%.
