📆 Friday, July 19
► European stocks are on track for their longest losing streak since October, with the benchmark Stoxx 600 falling over 0.5%. The decline is led by travel, leisure, and basic resource stocks. Sartorius plunged over 13% after lowering its full-year guidance, while Ubisoft Entertainment fell more than 8% following a mixed release on full-year targets. A technical outage of Microsoft's online services, linked to the cyber security firm Crowdstrike, is disrupting the services of airlines, railroads, banks, media companies etc. worldwide, as well as the London Stock Exchange.
► US equity futures are slightly down, with contracts on the S&P 500 falling by around 0.1% after a fall of almost 1% on Thursday (Nasdaq 100 also down 0.1%, with Microsoft the biggest drag at -2.1%). Initial jobless claims in the US increased the most since early May, supporting expectations that the Federal Reserve will soon cut interest rates but also increased concerns about the economy's health. Investors are also thinking about the impact of a second Donald Trump presidency. Treasury yields (10-y) hovered around 4.2%, and the USD index held onto gains from the prior session for now.
► The MSCI Asia Pacific Index declined over 1%, marking its biggest weekly drop in three months. Chinese stocks in Hong Kong slumped after the Third Plenum failed to convince investors about the economy's new growth impetus. Asian currencies slipped against the USD amid an equities selloff. Concerns about potential US restrictions on chip sales to China continued to weigh on TSMC, which fell for a third day despite a positive quarter and solid forecasts in its earnings report on Wednesday.
Subscribe to see more
