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Market Minutes
Read snapshots of the latest market news
AMD soars near highs on OpenAI deal; Nasdaq climbs
Today's report focuses on relevant financial and economic data. Chip producer AMD announced a strategic alliance with OpenAI that could lead to a considerable increase in revenue for the company. Consequently, positive market sentiment helped the Nasdaq100 index reach a new high. In turn, gold and Bitcoin achieved new records, showing a duality between the search for safe-haven assets and an appetite for risk.
US markets mixed amid absence of economic data
Today's report focuses on relevant political data and the weekly performance of key assets. The US government shutdown continues as Congress has failed to reach an agreement. Meanwhile, data from the ISM Services PMI showed a decline, with the indicator falling to 50 points, indicating neutrality. The weekly performance for US gold and equity markets was positive, while oil benchmarks and the dollar declined.
Trump discusses spending cuts linked to Democrats
Today’s report focuses on salient economic and political developments. US President Donald Trump has stated that he will seek to eliminate jobs and institutions linked to the Democratic Party, citing the need to reduce government spending. Meanwhile, the unemployment rate in the European Union has risen slightly, and exports in Australia have contracted.
US ADP jobs shrink as government shutdown takes effect
Today’s report focuses on several key economic data points. Private payrolls measured by ADP showed a contraction in the latest assessment. Eurozone inflation recorded a slight uptick. Meanwhile, crude-oil inventories rose more than expected, pressuring prices lower. All this occurred as the US government shutdown materialised amid disagreement in Congress.
US shutdown fears rise as gold hits record high
The Dollar Index closed slightly lower amid rising risks of a US government shutdown. If Congress fails to reach agreement, the Bureau of Labor Statistics could delay publication of employment data. In parallel, gold reached a new all-time high as investors sought safe-haven assets.
PCE in line with forecasts; gold and oil prices rise
Personal consumption expenditures (PCE) inflation data arrived in line with analysts’ expectations, albeit with a slight acceleration in the headline measure. Although the release contained no major surprises, it suggests the tariff impact on prices is not yet visible in the data. In response, the dollar eased modestly, gold rose, and US equity indices appreciated into the close.
US GDP and employment improve amid market adjustment
US equity markets declined on renewed doubts about the viability of further Fed cuts. Weekly jobless-benefit data fell, monthly durable-goods orders surprised to the upside, and the latest Q2 GDP revision beat expectations—all of which underscore the strength of the US economy.
US home sales beat forecasts, Fed tone moves markets
New home sales in the US surprised to the upside, reaching a three-year high. The print may reflect the recent decline in long-term reference rates, although many analysts regard it as a one-off outlier that is likely to normalise in coming months. Meanwhile, equity markets closed lower amid the Fed’s cautious tone and heightened uncertainty.
Powell cites tough economy and high market valuation
The Chair of the Federal Reserve (Fed) stated that the FOMC sees a minimal but present risk of stagflation in the US economy and will not pre-commit to further cuts without supporting data. When questioned about financial stability, he added that the Fed does not perceive systemic risks, though asset valuations are considered elevated.
Trump increases visa fees as Nvidia invests in OpenAI
US equity markets closed higher despite the announcement of a new fee on H-1B visas introduced by US President Donald Trump. While higher application costs imply a headwind for US companies that recruit highly skilled foreign workers, the overall impact is likely to be contained. Meanwhile, Nvidia announced a substantial investment in OpenAI.