Daily summary: Indices open the week with solid gains, NATGAS hits new yearly lows 📌

U.S. indices are climbing today as markets rebound from Friday’s sell-off. The tech-heavy Nasdaq is leading the gains, up over 1.8%. Smaller-cap stocks are also rising, with the Russell 2000 index up 1.6%. The S&P 500 is gaining 1.4%, and the Dow Jones is up 1.3%.

Berkshire Hathaway reported its Q2 2025 earnings, showing a 4% drop in operating income to USD 11.16 billion. The decline was mainly driven by lower insurance premiums and concerns in international trade impacting the company’s core segment. Additionally, EPS was weighed down by a USD 3.8 billion writedown on its Kraft Heinz stake. The stock is down nearly 3% today.

Tesla awarded Elon Musk a bonus in the form of company stock worth USD 23.7 billion. Musk will be able to access the award in two years. The move is intended to ensure the CEO remains focused on company growth and core operations. It is the largest compensation package ever granted to a CEO.

Shares of Idexx Laboratories surged 26% to USD 676 after the company reported strong Q2 earnings that beat Wall Street expectations and raised its full-year guidance.

European indices are also rebounding, led by Italy’s IT40, up 1.9%. Positive sentiment is seen on Germany’s DAX (+1.4%) and France’s CAC40 (+1.1%). The UK’s FTSE 100 is up only 0.7%, while Switzerland’s SMI is the only major European index in the red, down 0.2%.

The Swiss stock market is reacting to Trump’s Friday announcement of 39% tariffs on the country—significantly higher than those imposed on other key U.S. trade partners (excluding China, whose trade deal deadline was extended to August 12).

New U.S. factory orders fell 4.8% in June to USD 611.7 billion, reversing part of May’s 8.3% rise. Shipments rose for the second straight month by 0.5% to USD 602.4 billion. The decline came in slightly better than the -4.9% expected by analysts.

Inflation in Switzerland came in slightly above expectations in July, with CPI rising 0.2% y/y (vs. 0.1% forecast). Meanwhile, July’s PMI data showed a less-than-expected contraction, though the services sector shrank notably last month.

The Swiss franc is down 0.3% against the U.S. dollar amid pressure from the surprise U.S. tariff hike. CHF is among the weakest G10 currencies today. According to Bloomberg Economics, Switzerland’s export-dependent economy could lose as much as 1% of GDP due to the new record-high tariffs—not to mention potentially more severe effects if pharmaceutical tariffs are introduced.

In precious metals, sentiment is mostly positive. Gold is up 0.5%, platinum is rising 1.3%, and silver futures are gaining 1%. Palladium is the worst performer, down -1.2%.

In energy markets, sentiment is weak. WTI crude is down 1.3%, and Brent is down 1.0%. Trump has announced potential new tariffs on India due to the country’s ongoing oil imports from Russia.

NATGAS is down 5.90% following updated mid-August weather forecasts showing lower expected temperatures. Additional pressure is coming from increased drilling activity and high inventory levels.

In the cryptocurrency market, a broad rebound is underway. Ethereum is the top gainer, driven by sustained institutional demand. Bitcoin is up 1.10% to USD 115,300, Ethereum is rising 5.50% to USD 3,700, and the total altcoin market cap is up 2.50% to USD 985 billion.