Thursday, August 10
► European and US stocks are slightly higher after a mixed previous session – which ended with sharp profit taking in New York. The Euro Stoxx 50 index jumped around by 1.1% during early and pre-market European trading despite mixed earnings – such as from German industrial product & technology giant Siemens. More earnings will be reported later today.
► U.S. equity futures see a positive positive momentum, trying to bounce back from a technology-driven decline from the last trading session. Despite these movements, US Treasuries remained stable, with ten-year and two-year government debt yields exhibiting minor fluctuations ahead of US CPI data.
► A mixed scene prevails in Asia, with stock dips observed in South Korea and China, while Japan and Australia experienced modest gains. Investors turn their attention to Alibaba with its earnings announcement set for later in the day. Concerns also linger around Chinese developer Country Garden Holdings due to its ongoing debt problems.
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► Japan’s wholesale inflation rate slowed for a seventh straight month to 3.6%, down from June’s revised figure of 4.3%. It reduces the pressure on the Bank of Japan to change monetary policy. ► Investors are keenly awaiting the US consumer price index data for July (due 12:30 UTC+0). There are rising speculations that the report might reflect a minor boost in inflation, partially attributed to the rise in oil prices. However, analysts expect the core inflation to further descend, fueling speculations about a potential rate pause in the Federal Reserve's upcoming meeting in September. ► European natural gas prices remained resilient after a jump yesterday, with concerns over possible strikes in Australia affecting the global supply chain. Citigroup anticipates a potential doubling of European gas and Asian LNG contracts by January. Simultaneously, crude oil prices are near a nine-month peak. The sharp rise in oil & gas prices remains a major risk and is increasing inflation expectations – which then often becomes a self-fulfilling prophecy. Key events today: 🔸 🇮🇹 Inflation Rate / CPI – 08:00 UTC+0 (released) 🔸 = Event of medium/high importance Key Earnings Reports: ☀️ Alibaba (BABA) 🇨🇳 SmartTrader™ Analyst team & Robert Lindner
♦️ 🇺🇸 Inflation Rate / CPI – 12:30 UTC+0
🔸 🇺🇸 Initial Jobless Claims – 12:30 UTC+0
♦️ = Event of very high importance
☀️ Deutsche Telekom (DTEGY) 🇩🇪
☀️ Henkel (HENKY) 🇩🇪
☀️ Münchener Rückversicherung (MUVGn) 🇩🇪
☀️ Novo Nordisk (NVO) 🇩🇰 (released)
☀️ Orsted (DNNGY) 🇩🇰
☀️ RWE (RWEOY) 🇩🇪
☀️ Siemens (SIEGY) 🇩🇪 (released)
☀️ Tokyo Electron (TOELY) 🇯🇵
☀️ Zurich Insurance Group (ZFSVF) 🇨🇭
