It's the price of the Petroleum to mark the rhythm of the day: with a quotation under $100 indicates progress in diplomatic efforts to end the war between the US and Iran and less pressure on energy costs and oninflationThe markets' response is a confident rise in stocks, and in particular in technological sector, and onbond. All attention is on the meetings between Trump and Iranian president today, and that Chinese tomorrow.
Brent crude drops sharply to $98. There are signs of easing tensions in the Middle East.
In the climate of diplomatic détente the price of Brent fell below the key threshold of $100 a barrel and was trading at $98,45 in Asian trading hours, while U.S. crude oil lost 1,3% to $89,32 a barrel. The decline was also helped by the amazing speed with which theSaudi Arabia would be restoring flows through its East-West oil pipeline and may have already resumed the exports from the port of Yanbu on the Red Sea.
Tehran said it had started talks with the United States through a Qatari mediator in New York to present its conditions for opening the Strait of Hormuz, but most of these have already been rejected previously. President Trump, at the United Nations, said that the interviews were “very positive” and they have made progress, even though he has been repeating it for months now, and then he made the situation worse by threatening to annihilate Iran. Il Iranian president Masoud Pezeshkian will speak at the United Nations General Assembly today and the markets are watching for rumours about his possible conversation with Trump. Today the Chinese President Xi Jinping, with investors hoping for a possible extension of the trade truce between the two countries and in a possible cooperation in the field of artificial intelligence
The Nasdaq hit another all-time high yesterday. Tech giants battle it out with new AI models.
Yesterday on Wall Street the Nasdaq, with a high technological component, has achieved a historical maximum, while oil prices and US Treasury yields fell on the back of easing tensions in the Middle East. The Nasdaq Composite, which closed up 0,45%, benefited from support from micron Technology and other AI-related stocks, as investors realized that demand for AI showed no signs of slowing and corporate profits remained solid. S & P 500 remained unchanged and the Dow Jones fell by 0,36%.
The enthusiasm aroused by Muses of Meta is still palpable, demonstrating that consumers may be tempted to mass adopt AI-based agents. Attention is now shifting toGoogle's CC agent to see if he can replicate that resounding success. anthropic is launching a new artificial intelligence model designed to perform a wide range of business tasks at lower costs, as part of the startup's strategy to stay ahead of the competition ahead of its highly anticipated Wall Street debut. Apple is developing a screen-less health and fitness tracker, similar to Whoop Inc.'s wrist-worn device, as part of a push to rethink its smartwatch lineup and add new wearable technologies.
The fall in oil prices helped support the US Treasury securities, keeping 10-year yields below the critical 5% threshold. However, yields of the two years have again reached their highest level since mid-2024, settling at 4,7879%, as investors price in the risk of further tightening of the Federal Reserve's monetary policy. Yesterday, both Richmond Federal Reserve President Tom Barkin and Boston Federal Reserve President Susan Collins expressed their support for therate increase interest rates last week, due to inflation concerns. Futures markets indicate a 54% probability that the Fed will raise rates again in October and anticipate a 33 basis point tightening of monetary policy by the end of the year.
Tech enthusiasm is returning in Asia. SoftBank's bond is attracting stratospheric demand.
Le asian bags are aiming for their sixth consecutive session of gains, thanks to the continue question of apps based on theartificial intelligence on the part of consumers, who supported the technology stocksAfter opening sharply higher, they then slowed down.
The renewed enthusiasm for the tech world is also evident in the bond issue of Softbank worth over $10 billion, which has reportedly attracted over $20 billion in investor interest. This would make it one of the largest high-risk bond issues ever and an indicator of creditors' confidence in the AI project.
The prospect of higher interest rates has allowed the dollar to reach multi-year highs on the euro, pound and Canadian dollar, improving its technical picture.euro remained stuck at $1,1430, near a two-month low. The dollar strengthened slightly against the yen to 157,60, with speculators wary of further Japanese intervention if the 160,00 level were broken. In commodity markets, the'gold lost 0,3%, settling at $4.341 an ounce, while the Copper has approached all-time highs, after an 18% increase since the beginning of the year.
European stock markets are expected to open higher. At Piazza Affari, eyes are on Diasorin, oil companies, and Pirelli.
European stock markets are expected to open higher this morning, based on Eurostoxx 50 futures trading at +0,3%.
Mps BankCEO Luigi Lovaglio will be present at the Financials CEO Conference organized by Bank of America in London.
BuzziJefferies cut its target price to €42,90 from €45,30, confirming its Hold rating.
DiasorinCMS (the US agency that manages public health reimbursements) reports possible cuts of up to 15% annually to Medicare reimbursements for laboratory tests.
PetroleumEni, Saipem, and Tenaris could be affected by the drop in crude oil prices.
PirelliThe Board of Directors has given the green light by majority vote to an investment of approximately €1 billion in the United States, intended to expand the plant in Rome, Georgia, where the group already produces high-tech solutions for the American market.
stmIt could be supported by positive indications about Meta Platforms' new product and interest in the topic of artificial intelligence.
Tim-PosteThe deadline for bidding on Poste Italiane's takeover bid for TIM is September 25. In the first phase of the offer, Poste Italiane acquired a 66,627% stake in the telecommunications company. As expected, Poste will acquire a 20% stake in PSN (Polo Strategico Nazionale) from CDP, becoming the largest shareholder with 65%.
ExorThe results for the first half of 2026 show a 4% decline in NAV to €32 billion, due to the negative performance of Stellantis. A €500 million share buyback program (SBB) has been announced, to be completed by March 2027.
