Dow -0,51%, S&P 500 -0,08%, Nasdaq +0,35%, Russell -0,30%, SOX +1,5%, Eurostoxx +1,31%, SMI +0,8%.
The bloodbath seller feared by everyone after the entry into force of the customs duties of the great bad president does not even make the shadow of the suspicion of an attempt to appear. The market shows an interesting serenity, the speakers seem imperturbable, we move on in the markets, the real impact of these taxes is apparently still vague.
Because in real life, I would in no case want to be an American resident coupled with a Gruyère lover (Switzerland that goes without saying, French is a fake version, or rather “nasty” as you would know). The current price of Gruyère per kilo is 70 francs, so it already costs an arm and a half to like quality among yankees, add 39% and indigestion is guaranteed. Almost want to buy the McDonald’s action me …
The new tariff deal is clearly somewhat abstract on trading parquet floors. It is estimated that new customs duties amount to an average of 17% – 20%. In January they were 2.5%. Someone will have to pay for this fresh flowing money in waves in the trunks of the US treasury. Knowing that it is out of the question that your servant sticks to it, studies of his boys oblige, follow my gaze towards the American firms and consumer. The question to which even Cat GPT 5 should not be able to answer is when all this starts a slow and unstoppable takeoff of the general level of prices in the United States, thereby leading to a very likely awareness in the American countryside to have voted for the bad horse, but this is another story, at least for the moment.
In short, as it stands, the overall scenario of an American economy in “gold loops” mode, either too hot or too cold, is not called into question by the market.
And guess what it gives on the stock market? But a new historic NASDAQ100 (NDX) record! Wall Street performs a so -called “trainard” session, the day starts in the red, the sellers take orders until 8 p.m. and then give way to the bulls, who bring the NDX to 23,389 points to the bell, and say that the index is not even over -going … Tech giants provide their essential daily competition, AAPL +3.18%) its 5% increase in the day before, the market obviously considers that Tim Cook did well go to bed to announce an additional $ 100 billion in investments in the country. And then Apple remains late this year, the title is still 12%, against +30.3% in Meta, slightly positive performance from Amazon and Alphabet and +24% at Microsoft, current catch -up effect? The exchange volumes are generally low, volatility fell more, on stocks and obligations, the podium of the day of the SPX consists of utilities, consumer goods and tech. The S & P500 is backwards slightly for its part, the momentum on growth values still seems very intact.
On the bond market side, it should be noted that the yield of US 10 years dates back 4.26%, this movement is notably due to a new auction of American treasury bills which encounters a lukewarm demand, we note that non-American investors gradually turn away from the debt of the United States. The dollar is also on the hot seat. After rebounding against Euro from 1,1779 to 1,1392 between July 28 and the 1is August, the Greenback is again on the descending slope, it treats this morning at 1.1653, the programmed tightening of the rate differential between the two currencies against it will not help it. Let us recall here that the ECB does not envisage additional cut at the moment, its rates are 2%, while the Fed funds predict two to three decreases on the Fed side this year again, a potential return to 3.50% – 3.75% by the end of December.
Eli Lilly fell 14% yesterday after publishing data on its experimental pill against weight loss: it shows an average reduction of 12.4% of body weight over 72 weeks, compared to 14.9% over 68 weeks for the Novo Nordisk Wegovy. Novo’s American shares earn 7.5%. Airbnb recedes 8%: the company anticipates a slowdown in growth in the second half and of the margins below last year, due to difficult comparisons. However, the second quarter results are solid, with $ 1.03 of profit per share for $ 3.1 billion in revenues, above expectations.
Stephen Miran is appointed to complete Adriana Kugler’s mandate to the Fed. This appointment could accentuate the already accommodating orientation of the Central Bank.
The bonus of gold contracts on gold in New York compared to cash prices leaps after the Financial Times reports that the United States adds a surprise customs duty to imports from one kilogram. It is not yet known whether these rights are already in force or if they apply to all countries.
The President of the United States declares that he is ready to meet Vladimir Putin, even if the Russian leader has not agreed to sit with Volodymyr Zelenski.
It is the diet today, nothing to put in the tooth on the macroeconomic menu of the day.
Munich Re reviews its insurance forecasts for insurance for 2025, due to the evolution of exchange rates. The CEO of Intel, attacked by Trump, is also disagreement with its board of directors, according to the WSJ. General Motors will import Catl batteries from China despite customs duties. Meta chooses Pimco and Blue Owl to finance data centers up to $ 29 billion, Bloomberg revealed. Ford reports to 2028 the marketing of its electric pickups and vans to focus on cheaper models, according to Automotive News Tesla closes the team of the Dojo Superteor and reaffects its resources, a negative signal for the Group’s AI, according to Bloomberg.
This morning and this morning in Asia this morning, the clues treat in dispersed order. Tokyo gained 1.85%in the bell, Hong Kong fell 0.88%, Shanghai lost 0.11%, Seoul renders 0.55%and the NIFTY lost 0.72%. The future SPX takes 0.2% and Europe does the same at the opening.
The oil further fell back to $ 63.22 per barrel of WTI Light Crude, gold sport treats $ 3394 per ounce.
