European equities enjoyed a strong day yesterday, while Wall Street had a moderately positive day, marked by a rotation out of tech stocks and into more cyclical sectors such as financials, industrials and retail. Elsewhere, Gary Gensler announced his resignation as Chairman of the US Securities and Exchange Commission as of 20 January 2025. Treasury yields rose across the curve as investors digested mixed economic data and comments from Federal Reserve policymakers. In Asia, Japanese stocks...

The market’s reaction to Nvidia’s highly anticipated results last night indicates just how high expectations were. The company’s results exceeded analysts’ expectations and it delivered a strong forecast for the current quarter, but the revenue forecast just wasn’t enough for the market and the company’s shares fell 2.5% in extended trading. Asia’s tech heavy markets also sold off somewhat following the results and the growing geopolitical tensions arising from developments in Ukraine....

Escalating tensions between Russia and Ukraine dampened global risk appetite and sent investors scrambling for safe-haven assets yesterday. While European markets ended the day in the red, US equities recovered from earlier losses as the focus turned to Nvidia's earnings report due after the close today. Mathieu Racheter, Head of Equity Strategy, talks about the most anticipated earnings report of the season and explains why the path of least resistance for equities is up. And we have Dario...

US stocks yesterday regained some ground after last week's sharp sell-off that reversed the S&P 500’s post-election gains as Wall Street looks ahead to some major market-moving earnings reports and bets for a December Fed rate cut are losing steam. Fabian Wenner, Equities Research, provides an update on the healthcare sector, and Manuel Villegas, Next Generation Research, shares with us the latest from the world of digital assets. 00:00 Introduction by Helen Freer (Investment...

The Trump rally came to a halt last week as the S&P 500 fell 2% despite confirmation that the Republicans also won the House of Representatives. The USD strengthened to a one-year high and gold had its worst weekly drop in three years. Trump's cabinet appointments raised concerns and led to a sell-off in pharmaceutical stocks on Friday. Upcoming events this week include the G20 Summit starting on Monday, Nvidia earnings on Wednesday, and PMIs on Friday. Markus Wachter, Technical Analysis...

US equities stumbled yesterday, in contrast with a more positive day for European markets. The shift comes as investors reassess the likelihood of a Federal Reserve rate cut in December, following a speech by Chairman Jerome Powell that suggested the economy was not sending any signals that would necessitate a rush to cut rates. Meanwhile, some ‘Trump trades’ have begun to unwind as investors continue to navigate the post-election landscape. In commodities, both oil and gold are feeling the...

European bourses closed Wednesday’s session lower. The Nasdaq followed suit in the US, with the Dow and the S&P 500 ekeing out small gains on the day. This followed the release of October US CPI data which came in as expected and added support to the expectation of another interest rate cut by the US Federal Reserve in December. There was also further US political news last night as the Associated Press announced that the Republicans have secured a majority in the US House of...

Following a strong start to the week, markets took a step back yesterday as investors continued to digest the implications of the US election outcome. With key events on the horizon – including a slew of earnings reports and the release of US inflation data later today – traders are cautious about the potential for further interest rate cuts by the Federal Reserve. Joining us to provide expert analysis on how these developments are shaping their respective markets are Dario Messi, Head of...

Stock markets in Europe and the US started the week on a high note, with all three major US indices hitting new record highs. However, the momentum did not carry over to the Asia-Pacific region, where markets fell across the board in overnight trading. Meanwhile, commodities were lower, with gold and oil also bucking the upward trend. In contrast, Bitcoin has been on a tear, rising nearly 30% since the US presidential election last week. To help make sense of the current crypto market...

Donald Trump's presidential victory boosted US equities, with gains led by banks, energy and small caps – the S&P 500 had its best week so far this year. Bitcoin crossed USD 81,000 for the first time ever and Nvidia became the first company to surpass USD 3.6 trillion in market value. Meanwhile, China’s economic stimulus disappointed. Key economic data and earnings reports are due this week, including AstraZeneca,Siemens, Alibaba and Tencent. Also watch for news on Trump cabinet picks....

Global equities continued to celebrate the US election results, with European stocks joining the rally despite German Chancellor Olaf Scholz announcing potential snap elections. US equities hit new record highs yesterday, driven by technology stocks, upbeat earnings reports and another Fed rate cut. Chief Economist David Kohl expects this to be the last one for the year. And we also have Tim Gagie, Head of FX&PM Solutions Geneva, on today’s show talking about the US dollar, why he likes...

With Mr Trump confirmed as the next US President and a Republican sweep priced in as a 94% probability, US equities, especially those likely to benefit from his policy changes, took off yesterday. The rally was echoed by the US dollar and Bitcoin. US Treasuries sold off on expectations that Mr Trump’s fiscal plans and proposal to hike tariffs will boost inflation and erode the Fed’s ability to lower rates. Europe’s equity markets were lower on the day as they digested the US news. Chinese...

Join us on MovingMarkets as we break down the market implications of a potential second term for Donald Trump. With his pro-growth policies, including corporate tax cuts, deregulation, and new tariffs, investors are betting on a boost to US stocks, the US dollar, and crypto assets. Meanwhile, concerns about inflation are driving up US Treasury yields. In this episode, we're joined by Dario Messi, Head of Fixed Income Research, who shares his insights on how a Trump presidency could impact US...

While it's still anyone's guess who will become the next US President, some currency analysts took the latest polls favouring Kamala Harris to unwind some of their 'Trump trades' by selling the US dollar. US equities saw some volatility yesterday, but safe-haven US Treasuries rallied, suggesting that investors may be getting cautious ahead of the election result. Christian Gattiker, our Head of Research, joins the show today to share his views on the US election and the possible outcomes and...

A busy week ahead with key events including the US presidential election, the US Federal Reserve’s interest rate decision, and China's National People's Congress meeting to name but a few. The latest Iowa poll shows Kamala Harris leading Donald Trump, despite him winning the state in 2016 and 2020. The US Federal Reserve is expected to cut interest rates by 25bps on Wednesday. Among the 300 major companies reporting earnings are weight-loss company NovoNordisk and luxury group Richemont....

Markets had a risk-off day, with global equities, gold and Bitcoin falling. Investors are getting jittery ahead of next week's US elections, the Federal Reserve's interest rate decision, and China's National People's Congress. European stocks slumped after the release of eurozone inflation data. Big Tech earnings disappointed, with Meta and Microsoft shares tumbling. Amazon was higher, but Apple was lower in after-hours trading following its earnings release. China showed signs of recovery...

Global stock markets are facing headwinds as several high-profile companies have fallen short of earnings expectations. However, recent economic data releases have painted a more optimistic picture, with Germany's economy unexpectedly posting growth in Q3. In this episode, we're joined by Carsten Menke, Head of Next Generation Research, who shares his expert insights on the surge in the price of gold, which has recently reached new heights. 00:00 Introduction by Bernadette Anderko (Investment...

European stock markets struggled yesterday, while US markets closed higher and a strong tech sector pushed the Nasdaq to a new all-time high. Earnings reports from top companies including Meta and Microsoft will be closely watched today as investors navigate high expectations and uncertain market conditions ahead of next week's US elections. An important event that is partly behind the recent rise in US yields, says Dario Messi, Head of Fixed Income Research. And we have Mathieu Racheter,...

Markets had a quiet session yesterday, but a flurry of earnings reports and economic data releases are set to breathe new life into trading in the coming days. The US presidential election and the Federal Reserve’s upcoming interest rate decision are also looming large on the horizon. Meanwhile in Europe, carmakers face significant challenges in maintaining profitability in a rapidly changing landscape. In commodities, oil had its worst day in more than two years yesterday as geopolitical...

Japanese PM Ishiba’s gamble to call a snap election backfired yesterday, as Japan’s ruling party lost its majority in a general election amid political scandals and soaring inflation. The Japanese yen is plunging and stocks are surging on the news. As investors turn their attention to a busy, data-packed week ahead, Mensur Pocinci, Head of Technical Analysis, offers an update on the markets from a technical perspective and shares his outlook for the global equity bull market. 00:00...

Positive earnings surprises in the eurozone weren't enough to lift its major equity indices significantly, as economic data disappointed yesterday. Tesla had its best day since 2013 after a positive earnings release. US stock indices are in a wait-and-see mode ahead of some big earnings releases, starting with Amazon after the close today. Newmont Mining plunged as the gold miner struggles to keep costs under control. Mercedes-Benz vows to cut costs after weak results. Japanese national...

US stock markets experienced a downturn, with all major indices posting significant losses. Consumer discretionary stocks felt the brunt of the decline, led by disappointing performances from Coca-Cola and McDonald's. Meanwhile, the tech sector faced pressure ahead of the highly anticipated earnings report from Tesla, the first set of Q3 results from the ‘Magnificent 7’, which were released after the market close. Joining us to share their insights are two experts: Norbert Rücker, Head of...

US stocks saw their first back-to-back drop in six weeks yesterday as traders weighed the prospects of a slower pace of Federal Reserve rate cuts. Meanwhile, gold posted another new record high on geopolitical concerns. Dario Messi, Head of Fixed Income Research, shares his thoughts on the recent steep rise in US Treasury yields. And Mathieu Racheter, Head of Equity Strategy, provides an update on the Q3 earnings season. 00:00 Introduction by Bernadette Anderko (Investment Writing) 00:34...

As investors grapple with the implications of an ‘earnings yield inversion’, where the S&P 500 Index yields more than 10-year US Treasuries, US equities took a breather yesterday from last week’s gains. Meanwhile, Asia is seeing its busiest IPO week in more than two years, a key test of market risk appetite. With the US election just two weeks away and US politics increasingly in the headlines, we're joined by Leonardo Pellandini to discuss the impact of the US election on European...