- Gains on Wall Street continue. Major indices reached new daily all-time highs today. The US500 rose by 0.25%, while the US100 sharply pared early gains, finishing with a modest 0.05% increase. Earlier, it had gained 0.5%, surpassing the 24,000-point level.
- Strong gains on Wall Street were driven by tech stocks, notably a powerful surge in Oracle following its latest quarterly financial results.
- The US PPI inflation rate for August came in at 2.6% year-over-year, significantly below market expectations of 3.3%. This data may suggest that CPI inflation forecasts for September were too high, increasing the likelihood of a 50 basis point rate cut by the Federal Reserve.
- Oracle surged nearly 40% to new all-time highs after reporting strong AI-related orders. The company also posted revenues of $14.9 billion for the past quarter (+12% y/y) and an EPS of $1.47. Future revenues reached a record $455 billion, based on customer orders.
- During the night, Poland’s airspace was violated by at least a dozen drones identified as Russian. Some drones were shot down, while others fell due to fuel exhaustion. This is an unprecedented event involving the shooting down of a Russian drone on NATO territory.
- The WIG20 index fell just under 1% today amid geopolitical tensions. Earlier declines reached as much as 3%. The biggest losses were in the banking sector, Orlen, and KGHM.
- NIO raised about $1 billion through a new share issuance, causing its stock price to drop approximately 10%. This was the largest one-day decline since December 2023. The funds will be used to develop new EV models.
- TSMC reported record results for August 2025. The company posted sales exceeding $11 billion, a 33% increase compared to the same period last year. Growing demand for advanced AI chips helps TSMC maintain its dominant position in data center chip production.
- Inditex, owner of brands like Zara, Bershka, and Massimo Dutti, published its financial results for the first half of 2025, which were warmly received by investors. Revenues reached €18.36 billion, up 1.6% year-over-year. Despite slight underestimation of revenue and net profit forecasts, the company maintained a strong gross margin of 58.3%.
- US crude oil inventories rose by 3.94 million barrels today, against expectations of a 1 million barrel decline, according to the DOE report. Gasoline and distillate stocks also increased.
- However, crude oil prices rose, driven by tensions in the Middle East and potential sanctions against Russia. Israel launched an attack on Hamas leaders in Qatar, while Donald Trump commented on the drone situation over Poland, which markets interpreted as a signal for possible new sanctions on Russia.
- Natural gas prices fell over 2% today, testing the $3/MMBTU level.
- Palladium gained more than 3%, reaching its highest level in three weeks, mainly due to fears of new sanctions on Russia, which accounts for nearly half of the world’s supply of this metal. Additionally, expectations of US rate cuts increase the appeal of precious metals as safe-haven assets.
- China’s PPI inflation for August fell by 2.9% year-over-year, in line with expectations, following a previous drop of 3.6% y/y. CPI inflation decreased by 0.4% y/y, versus an expected 0.2% decline and a previous reading of 0.0% y/y.
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