🗓 Tuesday, August 5
► Europe gains on earnings beats & Fed cut optimism; FTSE 100 joins in gains
European stocks rose for a second straight day, buoyed by strong corporate results and hopes of US rate cuts after weak jobs data. The Stoxx 600 climbed +0.40%, with DAX +0.75%, CAC 40 +0.20%, FTSE 100 +0.40%, and FTSE MIB +0.35%. Gains were led by BP (+profit beat & buyback), DHL, Diageo, and Infineon on solid earnings. BEL 20 outperformed at +1.65%, driven by financials. The SMI added +0.41% despite ongoing pressure from Trump’s 39% Swiss export tariff. EUR/USD fell slightly to 1.154.
► US futures edge higher as Fed cut bets build; Palantir surges
Wall Street futures added modest gains after Monday’s sharp rebound, supported by San Francisco Fed President Daly’s signal that “the time is nearing” for cuts. S&P 500 +0.2%, Nasdaq 100 +0.3%, Dow +0.2%. Palantir jumped +5% premarket after a profit beat and raised guidance, giving AI-linked tech fresh momentum. However, warnings from Morgan Stanley, Deutsche Bank, and Evercore about stretched valuations kept gains in check. Treasuries softened, with the 10Y yield up to 4.21% amid heavy supply this week. Futures still price an 80% chance of a September cut and a 1-in-3 chance of another by year-end.
► Asia broadly higher on US rate cut hopes; India lags
Asian markets closed mostly in the green, tracking Monday’s Wall Street surge. Shanghai +0.96%, Nikkei +0.64%, Hang Seng +0.68%, and Kospi +1.6% led gains as traders bet on global central bank easing. Taiwan rallied +1.2% on tech strength, while NZX 50 +1.52% and SETI +1.43% joined the uptrend. India’s Nifty 50 -0.3% underperformed on tariff concerns and profit-taking. In FX, USD/JPY rose to 147.65, while USD/CNY edged up to 7.186, reflecting mild dollar strength returning.
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