It's the stechnological hector today to convince investors that everything is fine and that the concerns about the tensions trade between the US and China, as well as those geopolitical, can be put aside. Especially since an imminent Fed rate cut and that the first third quarter reports are definitely good. The fact remains that purchases continue to be made towards safe havens such as , above 4.200 dollars, and silver, while the dollar loses ground. Oil bounces after India, according to Donald Trump, decided to stop buying Russian oil. Bitcoin at $114.000. The asian bags followed the tech rally Wall Street, while European stock markets are seen opening slightly lower. Keep an eye on France, with Prime Minister Sebastien Lecornu potentially surviving after announcing his intention to suspend the controversial pension law to gain the support of the National Assembly.
Wall Street was boosted yesterday by technology and banking stocks and by optimism about relations with China.
They were the technology stocks dominating the scene yesterday on Wall Street pushing prices upwards: the SOX index of semiconductor company gained 3%, the Nasdaq 0,7% and theS & P500 0,4%.
While the US government shutdown continues, which implies the non-publication of data, the Federal Reserve Beige Book showed that economic activity in the 12 Fed districts remained virtually unchanged. But this week's bank results were even more closely followed, in the absence of other macroeconomic data. Reports indicated solidity for major US companies and a good state of health for the economy, with people spending and consumers appearing to be doing well. Morgan Stanley rose by 4,7% to a record high, while Bank of America gained 4,4% after they showed quarterly results that beat Wall Street estimates. The S&P 500 banking index rose 1,2% in its first three-day winning streak in more than three weeks. The day before, Goldman Sachs and JPMorgan Chase They had shown solid performance in investment banking and predicted that the business would continue to grow.
The focus is still on the trade disputes between the US and China that has roiled the market in recent days. The day after Trump said he was considering cutting off some trade ties with China, particularly regardingcooking oil, as the two rivals began to impose on each other port taxes, last night the Secretary of the Treasury told the Cnbc that there was not no intention to tighten the trade conflict with China and that the good relationship between President Trump and Chinese leader Xi Jinping should help stop the escalation of tensions. The Treasury Secretary also raised the possibility of extend the suspension of customs duties on Chinese products for more than three months if China stops its plan for new stringent export controls on items of the Rare lands. The United States and China have agreed to a series of 90-day truces since the beginning of this year, with the next deadline approaching in November. Bessent also said the United States is neighbors (“within 10 days”) to define new terms for a trade agreement with South Korea and that the negotiations with the Canada they are back on the right track.
About the shutdown Bessent said it costs “only” $15 billion a week, while a judge has blocked Trump’s firings for now.
Asia led by technology stocks and awaiting data from TSMC
Stocks rose across much of Asia, with the chip sector gaining after U.S. peers rallied sharply overnight. Investors are awaiting results from the tech giant later today. Tsmc, comforted by the Dutch manufacturer of chip production tools Asml which yesterday reported orders and operating profits in the third quarter that exceeded market expectations, supported by the boom in investments in artificial intelligence. Meanwhile, technology companies are doing very well, with the Chinese ZTE Corp., which gained as much as 10% in Hong Kong, reversing a downward trend from earlier in the week. Shares of Korean chipmaker SK Hynix Inc. jumped as much as 6,9%, contributing to a 2,1% gain in the benchmark index Kospi, in continuity with yesterday's +3%. .
Chinese stock markets are mixed. Hang Seng Hong Kong -0,4%, CSI 300 of price lists Shanghai and Shenzhen +0,3%. Taiex of Taipei + 1,2%.
In Japan the index Tokyo Nikkei The dollar-yen exchange rate is up 1%. The dollar-yen exchange rate is at yesterday's level, at 151. Bank of Japan board member Naoki Tamura called for an interest rate hike, as he believes inflation risks are increasing.
Gold rose another 0,6% in the latest session, reaching an unprecedented $4.234,41 an ounce. dollar suffers the effects of Jerome's words Powell Tuesday's market rally reinforced expectations of a rate cut of up to 50 basis points within the year, starting with a 25 basis point easing as early as the end of the month. The greenback fell for the third consecutive session, losing 0,2% against a basket of major currencies: it slipped as much as 0,4% to 150,51. yen, highlighting the psychologically important threshold of 150 and lost 0,4% to 0,7943 Swiss francs. Theeuro gained 0,2%, settling at $1,1667. The Petroleum after Trump declared that the Indian Prime Minister Narendra Modi he promised that his country would stopped buying oil from Russia, which supplies about a third of its imports. Bitcoin at $ 114.000.
European stocks opened slightly lower. At the Milan Stock Exchange, eyes were on Saipem.
European stock markets expected to decline at the start of the session: Eurostoxx 50 futures -0,25%.
Btp Value: tomorrow the Treasury will announce the coupons
FranceFrench Prime Minister Sébastien Lecornu is attempting to secure a €30 billion package for 2026 by proposing an amendment that would suspend the pension reform until the 2027 presidential elections. He has thus secured a commitment from the Socialist Party not to vote on the motions of no confidence presented respectively by Jean-Luc Mélenchon's radical left and Marine Le Pen's far-right.
Saipem Saipem, in a consortium with two companies affiliated with Azerbaijan's SOCAR, has been awarded three new offshore contracts for the BP-operated Shah Deniz Compression project in Azerbaijan. The contracts have a total value of $700 million, of which $600 million is awarded to Saipem.
Intesa Sanpaolo – RBC initiates coverage with an Outperform rating, with a target price of 7 euros.
LeonardoGermany has ordered 20 new Eurofighter fighters, scheduled for delivery between 2031 and 2034.
Telecom Deutsche Bank raised its recommendation to Buy from Hold, with a target price of 0,62 euros from 0,34
StellantisThe decision to move production of the Jeep Compass from the Brampton (Ontario) plant to a facility in Illinois, United States, has prompted a reaction from the Canadian government, which accuses the automotive group of violating the commitments it made in exchange for the generous public incentives it received to maintain its industrial presence in Canada.
PsJefferies initiated coverage with a buy rating and a target price of 9,3 euros.
BRUNELLO CUCINELLI The board of directors met to discuss the third quarter results (preliminary data were released on October 1st). Berenberg confirmed its buy rating and target price of 125 euros on the stock.
