- The dollar index rose 0.3% today, while EURUSD recorded a 0.24% drop and is trading around 1.0925. 10-year treasuries bonds yields remained above 4%.
- Major indexes in Europe such as the DAX, FTSE and CAC40 saw declines in the region of 0.15% to 0.3%.
- Indexes on Wall Street managed to make up the vast majority of the declines, but are still under sellers pressure. The Nasdaq 100 traded flat, with the S&P 500 losing less than 0.2%.
- Still weak against the S&P 500 and Nasdaq 100 is the Dow Jones, with a 0.5% decline, and the Russell 2000, which is down more than 1.1%.
- The weakest stocks in the S&P 500 today are those of Hewlett Packard Enterprises, which reacted with an 8% drop on the news and the likely acquisition of Juniper Network, in a deal valued at about $13 billion
- Juniper Networks, whose shareholders expect a sizable premium as a result of the acquisition by Hewlett Packard, posted the steepest gains in the US stock market, with analysts indicating that Juniper's Mist AI segment, which deals with network switches, is the reason for the acquisition
- Tesla is the worst stock among US Big Tech stocks today, with more than 2.5% decline. EV producer cut estimated ranges of its vehicles due to US regulatory action
- Analysts at the PIMCO fund expect bonds to face consolidation after strong gains and 'fixed income' assets can still provide equity-type returns if the US economy remains in its current good shape.
- NATGAS is surging more than 13% today. New weather forecasts for the United States for the next 6–10 days show that the biggest deviations from average temperatures are expected in the country's key heating regions in the near term.
- The World Bank indicated that its 2024 growth forecast for the global economy is 0.5% higher than its June 2023 forecast due to the strength of the US economy. The bank forecasts U.S. economic growth in 2024 at 1.6% (up 0.8% percent from June 2023)
- Cryptocurrencies are trading mostly down, with Bitcoin retreating 1% and trading near $46,500. The CIO of the Valkyrie fund, which is awaiting ETF approval, conveyed that the chances of the spot ETF being approved by the SEC are 95%. Also, attorneys working with the SEC, quoted by Fox Business' Gasparino, indicated that the latest comments by Gensler, who is overseeing the process, point rather to a positive decision by the agency.
- A final decision on spot bitcoin ETF applications from 21 Shares and Ark Invest is scheduled for tomorrow. The market expects it to be positive and with the above, more institutions will be admitted.
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