I stock markets and long-term government bonds this morning they breathe a sigh of relief showing appreciation for the resoluteness of the Chairman of the Federal Reserve Kevin Warsh in countering inflation with the first rate hike of interest from the US central bank since 2023. Today it's time for Bank of England, and although it had planned to leave rates unchanged, it is possible that the Fed's decision will create pressure on the board which could split: therefore every single word will be carefully analyzed in search of any signs of a possible rate hike in November. FromAsia a light wind of buying is blowing, while futures also indicate an increase for the European stock exchanges and Wall Street later today. The dollar jumps to 7-week high.
Brent crude extended losses from the previous session on signs of easing tensions in the Middle East. Brent fell by 0,9%, settling around dollars 104,90 to the barrel, following the attempt of theSaudi Arabia to restore about half of its capacity East-West oil pipeline within days, after drone strikes forced its closure last week. Furthermore, President Donald Trump he stated that the war with Iran will end “very soon”.
Warsh has proven he is not Trump's man
The man who Trump he had assumed to cut interest rates has instead raised them. Kevin Warsh He delivered the first Fed rate hike in over three years in perfect harmony with his colleagues: a united front that demonstrated to the markets that the bank still has control over inflation ed is independentThe Fed's FOMC voted unanimously to raise its benchmark rate by a quarter of a percentage point, bringing it to a range between 3,75% and 4%. After the decision, Trump He said on social media that U.S. interest rates should be at or below 1%, while avoiding directly criticizing Warsh.
Warsh again this time did not provide any forward-looking indications, insisting that he would not focus on a single data point. However, markets know well that rate hikes are like cockroaches: if you see one, there are probably more behind the wall. In fact, the futures price three more increases, even though the dot plot predicted only one this year. Goldman Sachs wasted no time in forecasting another hike in October, arguing that consecutive hikes were natural to facilitate a more timely return to the Federal Reserve's 2% inflation target.
The Fed's decision will also put pressure on the Bank of England today, which had planned to leave rates unchanged.
But almost certainly the Bank of Japan will raise rates tomorrow. And traders expect that central banks in the United States, Europe, Great Britain, Australia, and New Zealand will all have to tighten monetary policies again. before the end of the year.
Wall Street closed lower yesterday on the prospect of further rate hikes in the future
IERI (Yesterday) Wall Street closed down not so much because the Federal Reserve raised its key interest rate for the first time in more than three years, which was expected, as the central bank said a further tightening of monetary policy in the near future, in order to achieve a more rapid reduction in inflation. Dow Jones closed down 1,21%, S & P 500 of 0,44%, Nasdaq of 0,01%. In the subsequent press conference, Fed Chairman Kevin Warsh said that theUS economy has strengthened since the last Fed meeting, but the trend of the'inflation showed little improvement.
Before the Fed's announcement, the three major US stock indexes were gaining ground, with a rebound in chips, lending support to the Nasdaq. The latter received a boost from semiconductor stocks, which gained 0,6%, recording their first significant gain since the joint appeal from AI industry executives, who called for a slower pace of capability development and industry-wide security coordination. Earlier in the session, data on retail sales on the rise suggested that consumers continued to spend, despite economic hardship due to rising prices, particularly at the gas pump.
Futures this morning Nasdaq shares gained 0,7% and S&P 500 futures rebounded 0,6%, following slight declines on Wall Street.
In Asia, Tokyo attempts a slight rally. Government bonds breathe a sigh of relief.
Some Asian stock exchanges are showing a slight rise, with investors betting that the Federal Reserve is finally getting the upper hand on inflation. The index MSCI Asia-Pacific stocks rose 0,3% while Nikkei Japanese, though wavering, gains 0,2%. Instead, the Chinese blue chips are down 0,2% and the Hang Seng is Hong Kong by 0,7%. The Kospi marks a drop of 0,2%.
Il dollar American has reached the maximum di seven weeks against major currencies, at 100,36 against major currencies, after a 0,7% surge overnight, its biggest daily gain in three months, supported by a leap in yields of Treasury securities soon The latter jumped 6 basis points overnight to their highest level since July 2024, before falling one basis point to 4,7174% in Asian trading hours. long-term breathed a sigh of relief: The 10-year U.S. Treasury yield fell back below 5% to 4,9385% overnight, while 30-year yields remained unchanged at 5,3522%, down from a 19-year high of 5,401%. After three days of losses, the has recovered ground, settling around $4.300 an ounce.
European stock markets start slightly higher. At Piazza Affari, eyes are on the banking game, Pininfarina, and Ferrari.
European stock markets are set to open higher, with pan-European equity futures up 0,5%.
Classic Ferrari for sale Ferrari Group considers special dividend in second half in the absence of M&A. Ferrari Group, a company with Italian roots, headquartered in London and listed in Amsterdam, closed the first half of 2026 with revenues of €187,3 million, up 4,3% year-over-year (or 6,2% at constant exchange rates). This positive trend continued in the second quarter thanks to increases in both the value of goods shipped (+30% year-over-year) and shipment volumes (+4% year-over-year). Ferrari has signed a partnership agreement with Rakuten Group, a global technology company, effective January 1, 2027.
StellantisThe Mirafiori plant will produce double the number of cars it produced last year in 2026, according to Emanuele Cappellano, head of Europe for Stellantis. Last year, Mirafiori produced more than 30.000 cars.
Intesa SanpaoloYesterday, Intesa Sanpaolo received preliminary approval from IVASS (the Italian insurance regulator) for the acquisition of its indirect qualifying shareholdings in Generali, AXA MPS Assicurazioni Vita, and AXA MPS Assicurazioni Danni. In effect, the insurance regulator authorized the change in ownership structure should Intesa Sanpaolo acquire control of MPS.
Mfe closed the first half of 2026, which fully includes ProSiebenSat.1 in the consolidation scope, with an adjusted operating profit of 145,7 million euros, an improvement of 153 million compared to the negative result of 7,3 million euros in the pro forma figure for the first half of 2025. The estimates for 2026 have been confirmed.
Pininfarina Holdings, which already holds 78,8% of Pininfarina, has launched a voluntary public tender offer for all the company's ordinary shares. The objective is delisting. The tender offer involves a maximum of 16.660.587 shares, equal to 21,177% of the company's share capital. The 62.013.249 shares, corresponding to 78,823% of the capital, already held by Pininfarina Holdings, are excluded. The proposed price is €1 in cash for each tendered share. The price incorporates a 20% premium over the official closing price on September 15. The premium increases to 19,7% over the weighted average of the last month's prices, 22% over the average of the last three months, 26,9% over the average of the last six months, and 22,3% over the average of the previous twelve months.
