After yesterday's huge rebound which had brought Piazza Affari to an all-time high, Today, with the exception of the Nasdaq and London, the sentiment on Western stock markets is more negative, although Milan narrowly missed defending the 50.000 point mark, losing 0,64%. Paris -1%, Frankfurt -0,7%, London +0,3%, Euro Stoxx 50 Index -1%, Dow Jones -0,22%, S&P 500 +0,5%, Nasdaq Composite Index +1%. Tokyo's Nikkei had also closed in the red earlier. Optimism about the US-Iran negotiations has thus cooled, but they remain very lively and potentially close to completion. Meanwhile, positive macroeconomic data is arriving from the United States.The Dallas Fed manufacturing index and Conference Board consumer confidence are better than expected.
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Ferrari plunges on the Milan Stock Exchange after the launch of Luce. Energy and Defense stocks rise.
A red day for Milan. The worst stock is Ferrari -8,37% On the day of the launch of the first electric model, the Luce, which apparently isn't convincing the market. The car has four electric motors—one per wheel—that contribute to over 1.000 horsepower, a top speed of over 310 km/h, and greater agility for a car weighing more than 2,2 tons, while its range is over 500 kilometers. Ferrari hopes Luce will allow it to expand further into markets like China, where electric vehicles are already widespread and large gasoline-powered cars are heavily taxed. The starting retail price is €550.000. The other two luxury stocks also suffered heavy losses, with Moncler -1,4% and especially Brunello Cucinelli -3,5%. On the other hand, Avio performed well, with +2,7%, Stm +3,1%, Leonardo +1,1%, and Energy with Tenaris +1,4%, Saipem +1,4%, and Eni +0,56%.
Euro-dollar, BTP-Bund spread, T-Bond, and raw materials
On the currency market, the euro weakened against the US dollar, trading at 1,162. Bitcoin falls below $77.000The BTP-Bund spread, which had narrowed significantly in recent days, is widening again and is now hovering around 73 basis points, with the 10-year BTP yield falling to 3,72%. US Treasury bond yields remain high, though declining: the 30-year is holding steady at 5%, while the 10-year is currently hovering around 4,5%. Oil is falling even if Brent seems to defend the $100 a barrel mark At 17:30 PM Italian time, WTI Crude Oil is trading at around $94 a barrel, while European natural gas is back above €47 per megawatt-hour. Gold and silver are losing ground further, increasingly less on investors' radars: the former is hovering around $4.500 an ounce, the latter around $76.
In America, the Nasdaq soars with microchips: Micron Technology has gained 200% since the beginning of the year.
The Nasdaq in New York started very well, in contrast to the other stock markets, driven by the usual semiconductor and artificial intelligence-related stocks, which are not necessarily mainstream stocks like Nvidia which in fact still loses 0,5%: Micron Technology +16,4% (+200% since the beginning of the year) exceeds the threshold of one thousand billion dollars of market capitalization for the first time, Sandisk +7,3%, Qualcomm +5%, AMD +4,7%, Intel +2%, but also keep an eye on Western Digital and Seagate. More tepid, straddling the positive and the negative, are the performances of traditional big tech companiesApple +0,6%, Microsoft -0,6%, Amazon -1%, Google +0,9%, Meta -0,3%. The worst performer of the day on the Nasdaq 100 was O'Reilly Automotive -4%.
