Today is one of those days that could leave its mark on the financial markets. And not because of the French holiday of the Storming of the Bastille in 1789, but because of the intersection of Key events which cannot fail to influence the courses. While in Middle East the situation ignites further pushing up the price of the Petroleum, in the United States Kevin Warsh will also make his first appearance before Congress as Chairman of the Fed and the important data for the will be published'inflation of June with investors starting to see the possibility that the Fed could raise rates even at the end of the month. And if that's still not enough, the US first quarter results, with the banking giants Goldman, JPMorgan, Wells Fargo and Citigroup. In Asia The Kospi eventually recovered from the heavy losses that had followed the wave of sales in tech stocks. Wall Street yesterday. I futures on the stock indexes indicate a modest loss for the European stocks, while contracts for the Nasdaq 100 have erased initial losses, and are showing a slight increase of 0,4%.
Third night of US attacks. Trump plans to impose a 20% tariff on Hormuz. Oil prices rise above $85.
The U.S. Army led the third consecutive night of attacks against Iran, while Trump has restored the blockade of Iranian ships and proposed to impose a 20% rate for surveillance of the Strait of Hormuz. The US Central Command said it began the strikes on Trump's orders immediately after the US president said on the "Hugh Hewitt Show" that Iran would be hit "very hard." He later told reporters at the White House that the United States was attacking Iranian infrastructure in the Strait. The UAE Ministry of Defense later stated that Iranian cruise missiles had two Emirati oil tankers hit While transiting the southern corridor of the strait, in Oman's territorial waters, the British Maritime Trade Operations agency said an oil tanker had been hit.
Il Oil prices continues to rise, rekindling fears that supply shortages and upward pressure on energy prices could lead to long-term systemic inflation and a consequent interest rate hike by the Federal Reserve. Brent crude jumped as much as 2,8% to $85,64, after seeing a 9,4% increase yesterday.
Yesterday, Wall Street closed down, dragged down by tech stocks.
Technology stocks dragged down yesterday Wall Street with investors nervous ahead of an eventful week. Among the three major U.S. stock indexes, the Nasdaq, with a strong technological component, recorded the greatest losses, with a -1,55%, followed byS & P 500 with a -0,79%. The decline of the Dow Jones (-0,26%) was contained by the rise in energy stocks which benefited from the surge in oil prices due to the restriction of traffic through the Strait of Hormuz.
The collapse of US stocks in the sector hardware for artificial intelligence has been widespread, fueled by fears that spending and valuations have grown too rapidly. Among the tech companies, noteworthy are SanDisk, Marvell Technology e Intel which recorded drops of between 6,1% and 12,6%. Shares of the South Korean chipmaker SK Hynix, listed in the United States, fell 9,3% after rising more than 12% on Friday in their debut on the Nasdaq.
Kevin Warsh will have to attend today and tomorrow at his first six-monthly hearing before the Congress, during which the new head of the central bank will be questioned on the inflationary effects of the war between the United States and Iran and on the probable rate actions that the Fed will undertake: investors have increased bets for a tight in December but they even started to price a move this month after the Governor Christopher Waller said yesterday that a rate hike may be necessary to contain inflationary pressures.
The data today onJune inflation is expected to show a slowdown to 3,8% in the year ended June, from 4,2% in May. Equally important will be the data on June retail sales which will provide insights into how consumers, who account for about 70% of the U.S. economy, are coping with pressure on gasoline and other goods prices. Treasury yields US two-year yields, which are relatively sensitive to changes in the Fed’s monetary policy expectations, held steady at 4,28%, after hitting their highest level since February 2025.
The banking giants Goldman, JPMorgan, Wells Fargo and Citigroup The US quarterly results will open the dance Today. According to LSEG, analysts now expect aggregate S&P 500 earnings growth of 23,7% year-over-year in the second quarter, up from the 19,2% estimate on April 1.
In Asia, the Kospi reverses course at the end and closes higher
The Asian session was among the most turbulent: the index MSCI Asia-Pacific stocks rose 0,5% to close after oscillated between gains and losses during the session.
The index Kospi South Korea, which fell more than 5% during the session, reaching its lowest level since April and widening its decline from its intraday high in June to more than 30%, then recovered up to a 2,5% increase. The two heavyweights of the index are also very unstable, Samsung (+ 2,95%) and SK Hynix (+3,52%) after a session in which it had lost up to 5%, following the record 15% drop the previous day and following the 9,3% drop recorded yesterday on Wall Street by its American Depositary Receipts (ADRs), erasing much of the gains from the debut on July 10.
According to a survey Reuters among economists, the South Korean central bank should raise rates The central bank will raise interest rates on Thursday for the first time in over three years and implement a further hike by the end of the year, as inflation remains well above its 2% target. Consumer price inflation accelerated, reaching its highest level in two and a half years at 3,2% in June, remaining above the Bank of Korea's 2% target for the fourth consecutive month. It is expected to average around 3% in the second half of the year, paving the way for the start of a phase of monetary policy tightening.
In Japan the Nikkei It is up 0,75%. Japan's finance minister has floated the idea of including government bonds in a tax-free investment program for individuals and said the huge national pension fund will adjust its holdings as necessary, stepping up efforts to attract capital to domestic markets.
In China, the Hang Seng of Hong Kong +0,5% and the CSI 300 +1,2% reversed a weak opening. Taipei Taiex -1,4%. China posted a record trade surplus of $125,62 billion in June, up from $113,89 billion in the same month in 2025 and exceeding analysts' expectations of $121 billion. India. Mumbai's BSE Sensex -0,6%. Inflation in India accelerated last month, exceeding the Reserve Bank of India's target for the first time in nearly a year and a half.
Il dollar stabilized today. The dollar index, which measures the value of the greenback against a basket of currencies that includes the yen and the euro, fell 0,09% to 101,18. Theeuro gained 0,1% against the dollar, settling at $1,1392, while the GBP recorded an increase of 0,09%, reaching 1,3358 dollars. yen The Japanese yen is once again under pressure, settling at 162,30 per dollar, with traders remaining alert for possible intervention by the Tokyo authorities, as the currency remains near 40-year lows. The Japanese yen had briefly strengthened following remarks by Finance Minister Satsuki Katayama, who said Tokyo might consider adjusting the state pension fund's asset allocation if the asset management environment were to undergo abrupt changes.
In the market of cryptocurrencyBitcoin rose 1,01% to $62.776,09, while ether gained 1,29% to $1.788,44.
European stock markets opened slightly lower. At the Milan Stock Exchange, banks and oil companies were all eyes on the market.
European stocks are expected to open lower. Euro Stoxx 50 futures are expected to fall 0,3%.
banks Today, Banco BPM's Board of Directors may discuss the terms of its offer for Banca Monte dei Paschi di Siena, while tomorrow the latter's Board of Directors will examine Intesa Sanpaolo's offer and possible alternatives. Carlo Cimbri (Unipol) continues to push for a spin-off of Monte Paschi. Meanwhile, the press is once again reporting UniCredit's potential interest in consolidation in Italy: Banco BPM and Banca Finint are once again mentioned as potential targets, although capital could be a constraint.
Buzzi – Jefferies initiates coverage with a Hold position, with a target price of €49,5.
Leonardo Ukraine has ordered new Franco-Italian air defense systems and 16 Rafale fighter jets, which will be operational by 2028-2029, French President Emmanuel Macron announced. Paris will authorize the production of several military equipment in Ukraine, such as the Scalp cruise missile.
Inwit – The Milan Court has rejected INWIT's request for an emergency injunction challenging TIM's request to terminate the MSA contract starting in 2030.
nexi – CEO Paolo Mingrone said that the introduction of the digital euro could strengthen Nexi's role as a payments infrastructure.
Petroleum – Eni/Saipem/Tenaris expected to rise in the wake of Brent.
Rai Way - Second Milan Finance, Rai could be in a better financial situation without a tower deal.
Stellantis Deutsche Bank cuts its target price to 5,5 euros from 7. STM – Semiconductor sector weak in Asia-Pacific. TD Cowen raises its target from 43 to 61 euros. Utilities: Low rainfall and high temperatures continue to penalize hydroelectric generation in Northern Italy.
