- US equity indices are trading higher, led by the US2000 up 2.07% to 2463.1, while other major indices also show gains with US30 up 0.84% to 44759, US500 advancing 0.28% to 6002.9, and US100 rising 0.13% to 20875.97. Latin American markets are showing slight divergence, with Mexico's MEXComp up 0.03% to 50429 and Brazil's BRAComp declining 0.05% to 129764.
- European markets are showing mixed performance. The W20 leads gains, up 0.45% to 2213.6, followed by UK100 rising 0.23% to 8314.5 and Germany's DE40 adding 0.21% to 19442.1. Spain's SPA35 is up 0.13% to 11701. Several markets are in negative territory, with Austria's AUT20 down 0.03% to 3524, EU50 falling 0.16% to 4798.6, France's FRA40 declining 0.26% to 7252.4, Netherlands' NED25 down 0.33% to 880.26, Switzerland's SUI20 dropping 0.56% to 11673, and Italy's ITA40 falling 0.69% to 33436.
- Markets reacted positively to Donald Trump's selection of Scott Bessent as Treasury Secretary. The hedge fund manager's anticipated gradual approach to trade restrictions and openness to tariff negotiations boosted investor confidence. The news triggered a decline in Treasury yields, with the 10-year falling 10 basis points to 4.30%.
- Middle East tensions show signs of easing as Israel's cabinet prepares for a Tuesday vote on a US-mediated ceasefire deal with Lebanon, after PM Netanyahu's preliminary approval.
- According to ECB’s chief economist Philip Lane, the transmission in monetary policy in the EU is stronger than in the past, though he refrained from providing clear monetary policy guidance, underlining that the bank must remain openminded about the speed of further rate adjustments.
- ECB’s Nagel, on the other hand, stated that the interest rates in the Eurozone are still restrictive, though they shouldn’t be cut too quickly.
- Commerzbank’s shares slump 4.75% following UniCredit’s CEO Andrea Orcel statement that the probability of acquisition is lower than initially expected, since UniCredit’s main interest is currently its Italian rival Banco BPM.
- The dollar weakened broadly, with the Bloomberg Dollar Spot Index dropping 0.3%. The euro strengthened 0.5% to $1.0470, while the British pound gained 0.1% to $1.2543. The Japanese yen appreciated 0.2% against the dollar to 154.40. The strongest currency today was Swiss Franc, which gained 0.4% to 0.5% respectively to EUR and USD.
- Bitcoin retreated from near-record levels, falling 1.75% to $96,000 after nearly touching $100,000. The pullback triggered over $500M in crypto liquidations, with long positions accounting for $379M. However, institutional interest remains strong, evidenced by MicroStrategy's record $5.4B Bitcoin purchase of 55,000 BTC at an average price of $97,862.
- Oil prices declined as Middle East tensions eased, with WTI crude falling 2.8% to $69.25 per barrel amid reports of potential cease-fire progress between Israel and Hezbollah. Gold also retreated, dropping 3.1% to $2,631.40 an ounce.
- In corporate news, Macy's delayed its Q3 earnings release following the discovery of $100M in hidden expenses. Bath & Body Works raised its full-year EPS forecast, while Thyssenkrupp announced plans to cut or outsource 11,000 steel unit jobs by 2030. Cassava Sciences shares plummeted 83% after announcing its Phase 3 ReThink-ALZ study of simufilam for Alzheimer's disease failed to meet all endpoints.
- German business sentiment declined in November, with the IFO index dropping to 85.7 from 86.5, below the forecast of 86.0. Current Assessment fell to 84.3, while Expectations slightly declined to 87.2.
Daily Summary: US2000 leads on Wall Street📈Crypto and metals up, US dollar down
Bitcoin surges 2% approaching ATH levels 📈
Coinbase shares above important resistance zone🔔
3 markets to watch next week (03.10.2025)
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