Sales on technology returned to Wall Street yesterday, with Tesla and Nvidia, which will publish their quarterly results tomorrow, sharply declining. In Asia, the Canadian government's decision to follow Europe and the USA in imposing duties on Chinese steel and cars stands out. The price of oil reverses after yesterday's peaks, but the export stop announced by the government of eastern Libya must be followed and therefore also the trend of oil stocks. European stock markets are seen opening slightly higher based on the given futures indication, but weak data in Germany weighs heavily
On Wall Street, the Nasdaq is slowing down: Tesla and Nvidia are in sharp decline
On Wall Street, the Dow Jones (+0,2%) marked the new historical record at 41.240 points, theS & P500 it closed down 0,3%, after having long courted its historical record. The Nasdaq Composite lost 0,85%, held back as well as by Tesla, which fell 3,2% last night, from Nvidia, down -2,2%.
The focus of the next few days will be on Nvidia quarterly , the world protagonist of the revolution in artificial intelligence, on the agenda for Wednesday 28 August, and on next Friday's data relating to the Personal Consumption Expenditures price index (PCE), the Fed's preferred indicator for measuring inflation, relating to the month of July. The estimates are for a slight increase on an annual basis to +2,60% (from +2,50%) as regards the global data and to +2,70% (from +2,60%) for the "base" data .
Apple . The historic chief financial officer of Apple Luca Maestri he will step down from the post at the end of the year, leaving the role to his deputy Kevan Parekh after more than a decade. Parekh, 52, will become CFO on January 2014 in what Apple called a "planned succession." Maestri, who has been CFO since XNUMX, will remain at Apple in a reduced position, continuing to oversee its IT and real estate functions, the company said Monday.
Boeing because almost 1%. NASA chose SpaceX (Elon Musk) over Boeing's Starliner to bring its astronauts back from space next year. Two NASA astronauts reached the International Space Station in June aboard Boeing's faulty Starliner capsule.
Asia: Canada imposes tariff on Chinese steel and electric cars
- Chinese indices CSI 300 and Shanghai Composite lose 0,6% and 0,2% respectively, while Hong Kong's Hang Seng index loses 0,5%. Shares of electric vehicle makers such as BYD, NIO and Li Auto are weak, after the Canada has declared that it will impose a 25% tariff on steel and aluminum imported from Beijing and a 100% import tariff on 100%. Chinese electric vehicles, including those imported by Tesla. Losses from Chinese stocks are relatively limited, given that Canada represents a much smaller export market for the sector than Europe. However, Canada's move has sparked Beijing's anger, exacerbating concerns that the trade war with the West will intensify. Meanwhile the Chinese electric vehicle giant Byd signed a agreement with Huawei to use the Chinese tech conglomerate's advanced autonomous driving system in its Fangchengbao off-road electric vehicles.
The index Nikkei 225 rises by 0,2%, while the TOPIX rises by 0,2%. The yen lost some ground after Japan's business services price index, a gauge of manufacturer inflation, recorded a slightly weaker-than-expected reading. THE'Australian ASX 200 is slightly down, BHP's +2% stands out on the positive side. The world's largest mining company reported stronger-than-expected profits. THE'Indian index Sensex it moves just above parity, at historical highs. The Kospi of South Korea loses 0,4%, weighed down by chip manufacturers.
Among other variables: Oil reverses after yesterday's peak
I oil prices reverse (WTI -0,22% to 77,25 dollars a barrel and Brent -0,15% to 80,24 dollars a barrel) after the surge the day before (+3%) due to tensions in the Middle East and the stop to production and export of crude oil in Libya. The price of gold also fell by 0,34% to 2.546 dollars an ounce. However, the announcement by the government that controls theEastern Libya of wanting to interrupt the oil production and exports in response to the ongoing clash with the UN-backed government over the leadership of the central bank. If the blockade were carried out, up to 900 thousand barrels a day of crude oil could disappear from the market in a short time, Citigroup estimates, out of Libya's total production of around 1,15 million tonnes in July: a concrete problem, which would weigh particularly heavily on on the Mediterranean area and on Italy, which would be forced to find a replacement as soon as possible - and most likely at higher costs. Libya is by far the main supplier of crude oil to our country, from which we obtained over a fifth of total imports in the first five months of this year according to the latest Uncem data: 5.368.000 tonnes in total (equal to over 260 thousand barrels per day), up 39% compared to the same period in 2023.
Little moved the bond market. Yields on 3,81-year government bonds remain at their lowest levels for the year. Ten-year Treasury Note at 2,24%. Ten-year Bund at 3,58%. Ten-year BTP at 2024%, at the lowest since the beginning of 134. Spread 1,117. Euro dollar at XNUMX, little changed.
Their it is down 0,4% at $2.507. Last Tuesday it reached a new all-time high of $2.531. Bitcoin at 63.100 dollars, -0,2%.
European stock exchanges: what to follow today
Le stock exchanges of Europe are preparing to open just above parity, based on the indications provided by the futures: EuroStoxx50 +0,1%. US futures also moved little (-0,03% on the Dow Jones and +0,02% on the S&P500). In the wake of tensions in Libya will be followed oil stocks: yesterday Eni +0,95%, Erg +1,18%. The FtseMib of Milan and the Dax of Frankfurt closed yesterday almost unchanged.
MSc invests 5 billion and orders 22 super ships. Thus the group founded and led by Aponte strengthens its fleet and leadership. The global market share is 20%. The new container ships built in China
Saras Varas, the financial vehicle of global commodities trader Vitol, has exceeded 90% of the company's capital and may proceed with delisting.
EnelGoldman Sachs raised the target price from 9 to 9,20 euros, strengthening the Buy rating. Ferrari, Morningstar confirmed the Sell rating, cutting the target price to 281 euros. Nexi. On Monday, it broke a streak of thirteen consecutive increases.
Today's macro data
The consumer confidence index was already published before the opening Gfk in September of Germany collapsed to -22 points from the previous -18,4 points. The figure was lower than economist consensus expectations at -18 points. Furthermore, the German GDP in the second quarter of 2024 it recorded a slight contraction of 0,1% compared to the previous quarter, in line with expectations. “After the slight increase in the previous quarter, the German economy slowed down again in spring,” says Ruth Brand, president of the Federal Statistical Office. First quarter 2024 GDP increased by 0,2% compared to the previous quarter. All this confirms that theThe German economy is increasingly in crisis, as demonstrated on 26 August also by the confidence climate of German businesses, which dropped in August. The Ifo institute index has, in fact, fallen to 86,6 this month from 87 in July. Economists had predicted a reading of 86. The weekly index is on the agenda at 14:55 p.m US Redbook (previous: +4,9% year-on-year), at 15pm the Case Shiller Index for June (previous: +6,8% year-on-year) and at 16pm the Consumer Confidence Index for August (previous: 100,3 .100,1 points; consensus: XNUMX points).
buy back
nexi purchased 7.468.895 own shares at the weighted average price of 6,1518 euros per share, for a total value of 45,95 million euros. Generali announced that between 19 and 23 August 2024 it purchased 1.532.079 treasury shares at the weighted average price of 23,69 euros per share, for a total value of 36,3 million euros. Intesa Sanpaolo purchased 3.000 own shares at the weighted average price of 3,6149 euros per share, for a total value of 10,84 million euros.
