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- Stock indexes in Europe closed mostly higher; the DAX gained almost 0.8%, the FTSE by almost 0.4%, and France's CAC40 lost slightly. The Polish WIG20 led the gains on the Old Continent today, gaining 0.95%.
- Shortly after the close of trading in Europe, LVMH presented its quarterly results. The company's fourth-quarter revenues came in at €23.93 billion versus an estimated €23.43 billion. The latest data indicated that consumers in the US are still not overly eager to spend money on premium brands discretionary goods. U.S. organic revenue in Q4 was +3% vs. estimates of +3.73%. US ADRs on the company's shares are currently losing nearly 5%.
- Tuesday's session on Wall Street brings an improvement in sentiment, after yesterday's dynamic declines. US index contracts are gaining; the US100 is up 1.3%, the US500 is up almost 0.8%, and the US30 is up 0.5%. Sentiment around stocks outside the technology sector is mixed, however, with the rebound coming from buyers returning to BigTech stocks.
- Nvidia shares are gaining more than 6%, and there is also noticeably better sentiment in the software and semiconductor sectors, although both were losing at the start of the session. The best performing stocks are Apple and Taiwan Semiconductors. The VIX Volatility Index is losing more than 4%.
- ASML, the giant of the semiconductor sector, will present its results tomorrow before the start of the European session.
- The U.S. dollar is gaining more than 0.5%, with yields on 10-year U.S. bonds rising 3 basis points to nearly 4.56% despite weaker-than-forecast data from the U.S. economy.
- The Conference Board's Consumer Sentiment Index for January indicated 104.1. It was estimated to be 105.7, compared to 104.7 in December. The Richmond Fed's regional index for January indicated -4 versus estimates of -13.
- Durable goods orders fell -2.2% month-on-month in December, following a 2% decline in November (revised down from 1.2%). Non-transportation durable goods orders rose 0.3% vs. a 0.4% forecast and -0.1% decline previously.
- Agricultural commodities are trading mostly higher, with wheat on the CBOT gaining more than 2.5%. Oil loses slightly, with NATGAS down more than 3.5%. Industrial metals are losing; zinc is down more than 2%. Gold and silver gain 0.8%.
- Bitcoin is currently up 1.2% and back above the $102,000 barrier. At the same time, other cryptocurrencies are mostly losing. The exception is the Trump cryptocurrency, which is gaining nearly 7%.
BREAKING: EU Retail Sales In Line with Expectations
BREAKING: France Prime Minister resigns. EURUSD and FRA40 drop
Economic calendar: central bankers’ speeches and eurozone retail sales 📄
Morning wrap (06.10.2025)
