- Wednesday's session on Wall Street began with sizable increases in the various indexes. At one point, contracts on the US100 were up more than 2.5%. By now, however, most of these increases have been erased. At this point, the previously mentioned US100 is up 0.54%, the US500 is up 0.58%, and the US2000 is losing 0.2%.
- The European session saw clear gains in most stock indexes. Germany's DAX gained 1.47%, France's CAC40 added 1.91%, and Britain's FTSE 100 is up 1.75%.
- Novo Nordisk shares lost 6.5% in today's session following the release of disappointing quarterly results. Wegova's second-quarter sales came in at DKK 11.7 billion ($1.7 billion), compared to the average estimate of DKK 13.7 billion. The company also lowered its forecast for the full year 2024.
- Super Micro Computer is down 18% after releasing mixed results for the fourth quarter of fiscal 2024, which fell short of all analysts' expectations.
- Disney reported better-than-expected results, achieving positive revenue growth in all segments, as well as posting a positive result on its streaming business. However, the company disappointed the market on Experience segment revenues, which translated into 3.4% declines.
- In the FX market, the biggest gains today were seen in Antipodean currencies. However, dovish statements from the BoJ's Uchida weakened the Japanese yen significantly.
- WTI crude oil prices rose 3% on Wednesday, rebounding from multi-month lows, after DOE data showed a larger-than-expected drop in US crude inventories.
- US crude inventories fell for the sixth week in a row, shrinking by 3.7 million barrels to a total of 429.3 million barrels last week, according to EIA data. Analysts had estimated that inventories would fall by just 700,000 barrels.
- Cryptocurrencies reversed early rallies and are now trading down. Bitcoin is losing nearly 1.5% and Ethereum is down 4.5%.
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