Equities: Stabilise with lower yields – Deutsche Bank
Deutsche Bank's Jim Reid notes that US equities stabilised after three consecutive declines, with the S&P 500 gaining 0.46% as strength in the Magnificent Seven, particularly Nvidia and Meta, supported the market.
Deutsche Bank analyst Jim Reid reported that US equities managed to stabilize after three straight declines, with the S&P 500 climbing 0.46% thanks to strong performances by Nvidia and Meta within the Magnificent Seven. European equities lagged behind, while Asian stocks and US/European futures hinted at a more optimistic market outlook.
The S&P 500's recovery after three consecutive drops was fueled by a significant rally in the Magnificent Seven, led by Nvidia (+3.21%) and Meta (+2.47%). However, the situation differed in Europe, where the STOXX 600 slipped to a five-week low, along with declines in the DAX, CAC 40, and FTSE 100.
Asian sentiment proved more positive, with the KOSPI leading gains at +1.52%, boosted by technology companies benefiting from Broadcom's bullish outlook on chip sales. Other Asian indices, including the Nikkei, CSI 300, Shanghai Composite, and S&P/ASX 200, also showed positive movement.
US and European futures were up by less than 0.1%. US and European futures were marginally higher, indicating a cautiously optimistic market sentiment. Meanwhile, the US dollar continued its decline below 157.00, reacting negatively to a weak ADP report and anticipating hawkish remarks from the Bank of Japan, which kept the yen under pressure.
Written by urgent.news from FXStreet's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
