- For the European market, today's session brought gains on most indices. Both the French CAC40, the German DAX, the Italian IT40 and the Stoxx Europe 600 are posting almost 0.9% gain today.
- Apple shares are losing value after the publication of the "Apple Event", where the company's latest products were presented, along with the key iPhone 16. However, it was after its presentation that the shares reversed early gains, which may indicate that the new phone does not meet investors' expectations.
- American indices are on the bullish wave. The S&P 500 is gaining about 1.1%, the Nasdaq 100 is growing by 1.2%, and the Dow Jones is growing by over 1.2%.
- Summit Therapeutics is rising by over 57% after the publication of the results of the third phase of the lung cancer drug trial. Insurance company shares are recording a decline today after the Biden administration expanded requirements for health plans to include mental health issues. CVS Health is down more than 2% today, while Humana is down more than 4%.
- Kering shares are down as much as 2.9% after the luxury company was downgraded by analysts at Barclays and RBC. What’s more, Barclays also downgraded its rating on Burberry (-5.1%), lowering its outlook for the entire sector. Analysts are taking a more cautious view of the sector, saying the weakness in luxury in the country is structural, not just cyclical.
- Yields on 10-year U.S. Treasury bonds are down to 3.7%. Yields on 10-year German Treasury bonds are also down, currently at around 2.168%. The biggest increase in yields is seen in the Japanese debt market. Yields on 10-year Japanese Treasury bonds rose to 0.901%, up 5.5%.
- Cocoa futures are up more than 4% today. Coffee futures are also up, up almost 3.9%.
- Precious metals are strong today. Gold is up 0.2%, silver is up 1.2%, and palladium is up over 3%.
- NATGAS is down over 5% today.
- According to Bloomberg, the path of Tropical Storm Francine could cut through federal leases that provide ~124.8k b/d of oil and 298.2m cf/d of gas.
- The Norwegian krone is the worst performer among G10 currencies, down over 1% against the basket. The Swedish krona (-0.6%) and the Swiss franc (-0.6%) are also depreciating. The US dollar is the biggest gainer (+0.3%).
- We are seeing a significant rebound today in the cryptocurrency market. Bitcoin is up nearly 4% today and is back above $56,000. At the same time, Ethereum is down 2.7%.
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.
