U.S. equity futures extended yesterday's losses as President Trump vowed to continue attacking Iran. The Nasdaq led declines (US100: -1.6%), followed by the Dow Jones (US30: -1.2%) and S&P 500 (-1%).
🌎 US-Iran war
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Trump intensified pressure on Tehran, warning of further military action after accusing Iran of shooting down a U.S. Apache helicopter over the Strait of Hormuz
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He simultaneously signalled openness to a "meaningful" nuclear deal, claiming one was close — but accused Iran of stalling, insisting any agreement must permanently bar Tehran from obtaining nuclear weapons
📉🇺🇸 Equities — U.S.
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AI and semiconductor names lead losses: Qualcomm (-6.6%), Broadcom (-4.9%), Western Digital (-5.3%), AMD (-4.6%), Nvidia (-2.2%)
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Industrials are also selling off: Caterpillar (-6%), Honeywell (-3.4%), Boeing (-2.9%)
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Super Micro Computer slumped 18% after announcing a $7B capital raise despite disclosing a $39B AI server backlog — investors welcomed demand but punished dilution risk and margin concerns
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Cracker Barrel surged 23% after fiscal Q3 results swung from an expected loss to a profit, with a revenue beat, raised full-year guidance, a Wells Fargo upgrade, and rotation into defensive consumer names
📉🇪🇺 Equities — Europe
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DAX futures worst in Europe (DE40: -1.4%), dragged by SAP (-3.2%) and Siemens (-2.2%)
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French CAC40 (FRA40: -0.95%) and FTSE 100 (UK100: -0.5%) also lower
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Swiss SMI most resilient (SUI20: -0.2%) on its defensive sector composition (Healthcare concentration)
🏦 Macro — Inflation & Central Banks
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U.S. CPI broadly in line: headline 0.5% m/m / 4.2% y/y (up from 3.8%), core 0.3% m/m / 2.9% y/y — persistent inflation reduces near-term Fed cut expectations, reinforcing a "higher for longer" outlook
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Bank of Canada held rates at 2.25% as expected, flagging a stagflation-like mix of weak growth and sticky inflation; future moves remain data-dependent and open to either direction
🛢️ Commodities
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Brent crude (OIL: +2.2%) rallied on the bullish EIA report (crude draw of -7.23M barrels vs. -2.2M expected) and ongoing U.S.-Iran tensions; a Reuters survey showed OPEC output fell to a two-decade low of ~16.13M bpd
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Gold broke below key support at $4,200/oz (GOLD: -3.3% to $4,115); silver followed (futures -0.9% to $64.80/oz)
🪙 FX
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Strongest: euro (EURUSD: +0.15% to 1.155), British pound (GBPUSD: +0.18%), Norwegian krone (USDNOK: -0.4%)
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Weakest: Japanese yen (USDJPY: +0.12%, EURJPY: +0.2%); Australian dollar also lagging (AUDUSD, AUDNZD: -0.1%)
₿ Crypto
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Bitcoin +0.5% to $62,110; Ethereum -0.7% to $1,640
The conflict in Iran does not have to end
Market Wrap: Nervous wait for U.S. Inflation
Daily Summary- Return of the Sell-off on Wall Street⬇️
Market Wrap: Markets rebound following Trump's declarations
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