🗓 Monday, September 9, 2025
► Europe higher – political risks offset by stronger sentiment
European equities opened the week on firmer ground, with risk appetite supported by global momentum and firmer commodities. The Stoxx 600 +0.3%, DAX +0.5%, CAC 40 +0.4%, FTSE 100 +0.1%, Italy’s FTSE MIB +0.25%, IBEX +0.6%. French politics remain in focus as PM Bayrou faces a confidence vote likely to topple his government, keeping French spreads near yearly highs. EUR/USD 1.173 (+0.1%), GBP/USD 1.353 (+0.2%), USD/JPY 147.8 (+0.25%). Traders are already eyeing this week’s US-PPI (Wednesday) and CPI (Thursday) for fresh Fed signals.
► Wall Street steady; Jobs, inflation & Fed decision ahead
US futures edged higher, Nasdaq 100 +0.4%, S&P 500 +0.3%, Dow +0.2%, as investors prepare for a heavy data calendar. Last Friday’s soft jobs (NFP) report reinforced Fed cut expectations, with markets fully pricing a September quarter-point move and debate over a possible 50bps cut. Focus now turns to Wednesday’s PPI and Thursday’s CPI. Corporate movers included EchoStar (+ on $17B spectrum deal with SpaceX/Starlink), AppLovin (+9.5%) and Robinhood (+8% premarket – both after S&P 500 inclusion). Treasury yields little changed: US 10Y 4.09%, 30Y just under 5%. Dollar softened slightly, DXY -0.1%.
► Asia broadly higher; Japan & China lead
Asian equities extended the risk-on mood. Japan’s Nikkei +1.45% after PM Shigeru Ishiba announced he will step down, boosting speculation on fresh fiscal support. Shanghai +0.4%, Shenzhen +0.6%, Hong Kong’s Hang Seng +0.9%. Korea’s Kospi +0.45%, Taiwan +0.2%. Australia’s ASX lagged -0.25%, weighed by property and tech. India’s Nifty +0.15%. Currencies steady: USD/CNY 7.13, USD/JPY 147.8, AUD/USD 0.659 (+0.5%).
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