- The market ends the week with a moderately positive sentiment, although the scale of gains in Friday's Wall Street session remains limited. The leader of the gains is the Russell 2000, whose contracts are rising by about 0.5%. Other indices are oscillating around a 0.1% increase.
- The earnings season for the financial sector is slowly coming to an end. It can be considered successful. Almost all major players in the industry were able to boast results above market expectations. However, there was a noticeable advantage on the side of funds and investment banks compared to retail and commercial banks. The leaders of growth in this sector during Friday's session turned out to be PNC Financial Services and State Street, while Regions Financial Corp disappointed investors. Next week, investors will be looking forward to BankCorp's results.
- Donald Trump stated that he would prefer Kevin Hasset to remain in his current position as director of the NEC. This significantly reduces his implied chances of becoming the chairman of the FED. Kevin Warsh is becoming the favorite in the race for the FED chairmanship.
- The US President also announces additional tariffs on countries that "will not cooperate" regarding the US acquisition of Greenland.
- Unexpectedly strong data from American industry. The market was surprised by the month-to-month growth in both industry and manufacturing. Capacity utilization also increased. However, the growth dynamics of production decreased on an annual basis.
- Canada signed a trade agreement with China. The agreement concerns significant tariff reductions on electric cars and canola.
- Venezuela is set to resume oil sales using dollars, reports Reuters.
- Investor sentiment from Europe at the end of the week was moderately pessimistic. Most indices closed with moderate declines. The largest declines were recorded by the French CAC40 at 0.65%. The SMI also fell by 0.5%, and the DAX by 0.3%. The situation looks better in contracts, which recovered some losses after the end of trading on underlying instruments. Spain stood out with growth, SPA35 contracts rising by as much as 0.7%.
- Germany and Italy reported its consumer inflation which was in-lane with expectations of 1,8% and 1,2% YoY respectively.
- Novo Nordisk reports an important victory in the battle for the weight loss market. According to prescription data from the USA, the Wegovy pill generated over 3,000 prescriptions to be filled. The company's shares are rising by over 6%.
- In the currency market, the Yen is clearly gaining, with the exchange rate reaching levels where the market expects BoJ intervention and begins to price it in. Slight declines in the Euro and Canadian dollar. The Swedish krona is also losing.
- In the commodity market, industrial metals are noticeably discounted. Large inventories and doubts about tariffs exert pressure on valuations. Nickel loses the most, by as much as 4%. Significant declines also in tin and copper, by 3% and 2.5%, respectively.
- Energy commodity prices are stabilizing. A barrel of WTI oil maintains a price of around $59. The market expects further de-escalation in the Persian Gulf.
- The precious metals market is also experiencing a correction. The largest declines are observed in platinum, over 4%. Silver falls by 3%. Palladium is discounted by 2%. Gold limits declines to below 1%.
- In the crypto market, negative sentiment dominates. Bitcoin loses about 0.5% and stops around $94,000. Ethereum falls by 0.8% and maintains a price above $3,250.
US OPEN: Bank and fund earnings support valuations.
Divorce of Europe and the USA over Greenland
⏫Silver surges nearly 7%
Defense Companies in 2026 – Who stands to gain or lose?
The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.
