Il Middle East is flaring up again, interrupting a fragile truce and dashing the possibility of new negotiations after Iran launched new missile attacks against US forces. The new escalation is pushing oil prices higher. Petroleum, rekindling concerns about the'inflation and on the prospects of rates of global interest, precisely in view of the announcement of the monetary policy of the Federal Reserve expected later in the day.
Investors' attention will focus later today on the quarterly results of Microsoft and Meta Platforms, to get further signals on the spending trend in AI, while the record ones already published this morning by the chip manufacturer SK Hynix It did little to allay investor fears about the risk of AI, causing the Seoul Kospi index to plunge again, dropping as much as 12% before settling back to around 7%. European stock markets are expected to open with moderate declines.
Wall Street attempted a rotation outside of tech yesterday. Apple's market cap reached $5 trillion.
Yesterday a Wall Street The S&P 500 Index closed higher, thanks to gains in Boeing and Coca-Cola which helped offset the collapse in stocks semiconductors ahead of quarterly results from some technology companies and the Fed's rate decision today. The index S & P 500 rose 0,21%, the Nasdaq lost 0,22%, while the Dow Jones Industrial Average rose 1,03% to 52.747,32 points.
I chip manufacturers which have placed heavy investments in AI have contributed to the recent losses, with thePhlx index which lost 4,5%, down about 25% from its all-time closing high on June 22 and remains up 56% in 2026. Microsoft and Meta, which will publish their quarterly figures today, closed at +1,1% and -0,1% respectively, while Amazon recorded a 0,2% decline ahead of tomorrow's results release along with Apple which instead rose by almost 1% to 340,08 dollars and touched a session high of 342,89 dollars, briefly bringing its market capitalization at 5 trillion of dollars for the first time. According to analysts at Lseg/Ibes, on average, to evaluate S&P 500 Index Aggregates in the Second Quarter will increase by 39% compared to the previous year, with artificial intelligence-related stocks accounting for much of this growth.
Wanting to move away from the technology sector, investors are considering other factors, such as a solid GDP, the job market which continues to be dynamic and the recovery in consumer spending and are focusing on other sectors: the S&P 500 index healthcare jumped by 2,4%, that of the consumer goods of basic necessities of 2% and the index of materials rose by 1,7%. Coca-Cola rose 5% after the beverage company raised its full-year revenue and profit forecasts and Boeing jumped 4,8% after the aircraft maker generated positive free cash flow, thanks to the acceleration of its turnaround plans.
Today Federal Reserve will announce its interest rate decision. According to the CME's FedWatch tool, market participants estimate a 71% probability that the central bank will leave rates unchanged and a 29% probability of a 25 basis point hike.
In Asia, record profits from SK Hynix fail to slow the Kospi, which falls by up to 12%.
Asian stocks fall across most indices, led by sharp declines in South Korea, while a heavy wave of sales in the technological sector extends for the second consecutive session. The Kospi The Seoul Stock Exchange fell as much as 12%, prompting a 20-minute trading halt, before slowing to around 7% after yesterday's plunge. The index, which had surged in the first half of the year thanks to enthusiasm for artificial intelligence, he's still the best in the world this year, but it is found to register a 35% drop in July, its worst monthly performance.
I record financial results for the chipmaker SK Hynix have done little to allay investor fears about the risk of AI, while the collapse in semiconductor stocks has deepened.operating profit SK Hynix's share price in the April-June period increased more than sixfold, that is, of 557%, but still failed to meet analysts' lofty estimates: a disappointing result that coincided with investors' concerns about the sustainability of AI spending and the long-term returns from booming chip demand. SK Hynix lost up to 10%. Samsung Electronics yields more than 6%.
even the Japan remains under heavy pressure, with the Nikkei 225 down around 2%, with technology and electronics stocks leading the sell-off.
La China, now seen as a potential competitor in the tech sector, has been more buoyant. Hong Kong's Hang Seng rose more than 1%, while mainland China's Shanghai Composite and Shanghai Shenzhen CSI 300 have seen modest declines compared to the rest of the region, falling by about 0,4%.
Il Taiwanese marketThe technology-heavy index extended its slide, with the Taiwan-weighted index down more than 4%, as investors continued to reduce exposure to semiconductor stocks.
The S&P/ASX 200, the leading stock index in the Australian Stock Exchange, gained 1% and reached the highest level since early April after weaker-than-expected inflation data prompted traders to significantly reduce expectations for a further rate hike by the Reserve Bank of Australia. The mining giant Rio Tinto gained about 4,8% after publishing results that beat analysts' expectations.
I oil prices rose by about $3 a barrel after the joint attacks in Iraq by the United States and Saudi Arabia and the interception of Iranian ballistic missiles directed against US forces in the Middle East, while the crude stocks Americans have reducedBrent crude futures rose 4% to $87,53 a barrel, while U.S. West Texas Intermediate (WTI) crude rose $2,73, or 3,4%, to $81,99 a barrel.
European stock markets opened moderately lower. At the Milan Stock Exchange, Eni and Nexi were all eyes on the stock market.
European stock markets are expected to open with moderate declines: Eurostoxx 50 futures are at -0,3%.
GermanyImport prices up 6,1% in June, above expectations
EniResults exceeded expectations, the 2026 buyback increased to €3,4 billion from €2,8 billion, and guidance was raised. The Italian energy giant closed the second quarter of 2026 with a pro forma adjusted Group EBIT of €5,38 billion, double the prior-year figure (52% growth sequentially), thanks to the solid performance of E&P, GGP, and the transition satellites. Adjusted net profit amounted to €2,3 billion, more than double the previous year.
Leonardo – US subsidiary DRS will acquire Raft for approximately $450 million. The transaction is being financed entirely in cash.
Inwit – Net profit for the first half of the year was €160,3 million, down 13,2% year-over-year. The company also confirmed its guidance for 2026.
Poste Italiane – Citi raises its target from 24,40 to 28,60 euros.
Recordati – In the first half of the year, net revenues grew 6,6% to €1.410,8 million, EBITDA increased 8,8% to €540,2 million with a margin of 38,3%, adjusted net profit increased 6,7% to €349,9 million with a margin of 24,8%, and net profit increased 24,8% to €269,7 million. The financial targets for 2026 were confirmed.
nexi. Meets expectations and confirms 2026 guidance.
SaipemUBS cuts its target from 4,90 to 4,60 euros, remaining Buy.
