🗓 Wednesday, August 6
► Europe mixed as earnings disappoint and German data weakens
European equities struggled for direction, with the Stoxx 600 -0.06% after giving back early gains. The FTSE 100 inched up +0.15%, but the DAX slipped -0.15% and CAC 40 managed +0.15%. Sentiment was dented by weak corporate results — Bayer (-5%), Glencore (-4%), ABN Amro (-6%), Zalando (-5%), Beiersdorf (-11%), and Siemens Energy (-5%) all fell on disappointing earnings or guidance. German factory orders unexpectedly declined for a second month, underscoring industrial softness. Gains in Fresenius (+sales outlook) and Commerzbank (+buyback) provided some support. Bund yields rose to 2.642%, while EUR/USD firmed to 1.161 as traders digested steady ECB policy signals.
► US futures modestly higher as traders eye tariff risks & earnings fallout
Wall Street futures saw cautious gains: S&P 500 +0.2%, Nasdaq 100 +0.1%, Dow +0.4% amid lingering concern over Trump’s expanding tariff agenda, including potential levies on chips, pharma, and buyers of Russian oil. After-hours earnings weighed on sentiment: Uber, Disney, AMD, Super Micro, Rivian, and Snap all fell on mixed results or weak guidance. McDonald’s and Shopify rose premarket on beats. The 10Y Treasury yield ticked up to 4.24% ahead of a $10B auction, and the dollar index eased -0.2%, offering modest FX relief.
► Asia mostly higher but gains capped; Taiwan & India lag
Asia-Pacific markets posted a mixed but mostly positive session. Nikkei 225 +0.60%, Shanghai Composite +0.45%, and ASX 200 +0.84% were buoyed by easing dollar strength and hopes for stability in US-China trade talks. Hang Seng barely moved (+0.03%) as tech underperformed, while Taiwan -0.90% slid on semiconductor weakness. India’s Nifty 50 -0.31% saw mild profit-taking. In FX, USD/JPY softened to 147.45, while AUD/USD climbed to 0.650, benefiting from improved commodity sentiment.
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