-
Wall Street is heading toward the end of Monday’s session in positive territory despite broad losses at the open. Optimism was once again fueled by the tech sector, supported by Nvidia’s announced investment in OpenAI. Leading the gains is the Nasdaq (+0.5%), followed by the S&P 500 (+0.4%), Russell 2000 (+0.3%), and DJIA (+0.2%).
-
The day was marked by speeches from Federal Reserve officials. Trump nominee Stephen Miran called for “a series of 50 bp cuts,” arguing current rates threaten the economy. Meanwhile, St. Louis Fed President A. Musalem sees policy as between moderately restrictive and neutral, with inflation risks warranting caution. Cleveland Fed’s E. Hammack stressed the difficult balance of risks.
-
Nvidia (NVDA.US) announced a massive $100 billion investment in OpenAI, under which the U.S. tech giant will provide processors with a combined power of 10 gigawatts. Shares are up over 4%.
-
Canada’s producer price inflation (IPPI) rose above expectations in August (0.5% vs. 0.1% consensus, 0.7% prior).
-
Gold surged nearly 1.7% to around $3,745 per ounce, fully erasing the recent correction and setting a fresh all-time high. Other precious metals also rallied: silver +2.4% to $44.05, platinum +1.3%, and palladium +3.5%.
-
Cocoa marked a fifth straight session of declines (-4%), hitting its lowest level since November 2024 amid improved supply prospects. Wheat and soybean futures also dropped 2% on reports suggesting higher export supply.
-
On FX, the U.S. dollar began the week with a selloff (USDIDX -0.3%), ending a three-day rebound. The euro was the strongest G10 currency (EURUSD +0.4% to 1.1795, EURJPY +0.3%, EURGBP and EURCHF +0.1%). Sterling also gained (GBPUSD +0.4%). The Canadian dollar (USDCAD +0.3%) and Norwegian krone (USDNOK +0.8%) weakened against the dollar.
-
Crypto markets saw extreme pessimism, with flows shifting into safe-haven metals. Ethereum fell 6.9% to $4,171, Bitcoin -2.65% to $112,540, with notable losses in Sushi (-12%), Trump token (-9%), and Dogecoin (-8.8%).
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.
