- A very dynamic session on Wall Street is coming to an end. Early declines on the major indices reached as much as 2% after D. Trump’s speech provided the market with no guidance regarding de-escalation in the region. However, midway through the session, media reports emerged that Iran is officially working on a protocol intended to enable safe transit through the strait. Most stock indices recovered their losses, and futures prices are hovering 0.1–0.3% below the opening level.
- Macroeconomic data released in the U.S. on Thursday did not prove to be a price-driving factor:
- Initial jobless claims: slightly below expectations; down to 202k.
- Challenger report: up to 60k.
- U.S. trade balance: deficit narrowed to USD 57.3bn.
- The equity market was dominated by space-related companies, which rose on the back of positive news flow and sentiment following the launch of the Artemis II mission.
- Globalstar is rumored, according to unconfirmed reports, to be acquired by Amazon; the stock is up 7%.
- Intuitive Machines is up 14%.
- Tesla disappointed with the number of vehicles delivered; the stock fell more than 3%.
- Blue Owl is down about 3% after introducing additional restrictions related to withdrawals by private credit clients.
- The European session started with clear pessimism, which—on speculation about the reopening of the Strait of Hormuz—allowed markets to recoup part of the earlier losses. The biggest declines were recorded by the DAX, whose futures end the day down about 0.5%. FTSE 100 and WIG20 performed better, with their futures up by less than 1%.
- In FX, notable losses are seen in the pound, the yen, and the Canadian dollar, down 0.5% versus the U.S. dollar and about 0.2% versus the euro. The euro itself is also down against the dollar by around 0.2%.
- In commodities:
- Among agricultural commodities, cocoa is extending losses, down more than 3%.
- Energy traders do not appear convinced about the prospects for de-escalation. Brent Crude is up 7% and WTI crude is up 12%, reaching USD 107 and USD 110 per barrel, respectively.
- Precious metals are falling: silver is down 3%, while gold declines 2%.
- In crypto, broad declines and extremely negative sentiment persist. Most tokens are posting significant losses, although larger cryptocurrencies are holding up relatively better. Bitcoin is down 1.5% at USD 67,200. Ethereum is down more than 4% and falls to USD 2,060. In between is Solana, down around 2.5% and priced below USD 80.
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