It's an Friday of deep red on the stock markets European markets closed out the last full week of June, while Wall Street attempted to re-emerge despite the uncertainty. Fluctuations in technology stocks, especially those tied to artificial intelligence, are once again pushing European markets into the red. These stocks are once again taking a toll today after Micron Tech's midweek performance. Among the most traded on the Nasdaq there is once again Micron -4,5%, but also Sandisk -8% and Nvidia -1,5%. On the other hand, the historic big names are recovering today, starting with Microsoft which gains over 4%. Meta, Tesla and Amazon are advancing by over 2%.
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Weighing on tech are the rumors reported by the New York Times according to which OpenAI may postpone its long-awaited IPO until next year., but also the news that Apple has announced price increases across several product lines, fueling fears that the shortage of memory and storage could turn from a support for chipmakers into a brake on the entire supply chain. Among the best stocks are Netflix and Palantir, both above 5%.Bitcoin is stable, currently unable to re-attain the psychological threshold of $60.000.
Commodities: WTI crude oil falls below $70, its lowest since late February.
Progress in the Middle East has now definitively deflated oil and gas prices, which they return to the values of months ago, before the beginning of the conflict in IranToday, WTI Crude Oil fell to $68 a barrel and Brent barely defended the $70 a barrel threshold, the lowest since late February. European natural gas, on the other hand, finds itself back at 41 euros per megawatt hour, slightly higher. Safe-haven assets surged: this Friday, gold approached $4.100 an ounce, with silver also attempting to reclaim the $60 mark.
Banca Ifis plunges on the Milan Stock Exchange. The euro-dollar exchange rate hits 1,14.
The Milan Stock Exchange is talking about Banca Ifis's nosedive, which fell nearly 37% from the main index following its profit warning and the announcement of the sale of its non-performing loan (NPL) business. The FTSE MIB closed down 1%, defending the 51.000 point level.Ferrari rallied -3,1%, Diasorin +2,9%, and Italgas +1,36%, while Saipem, Amplifon, and Stm were in deep red -5,2%, with the worst performers being Finecobank -2,3% and Mediolanum -1,95%. The BTP-Bund spread rose to 74 basis points, with the 10-year BTP yield at 3,59%. The euro regains strength against the dollar, bringing the exchange rate to 1,14. Other European stock markets: Paris -0,55%, Frankfurt -1,25%, London better -0,14%, Amsterdam -0,6%.
