The Ibovespa exchanged gains and blows at the 132,500 mark on Wednesday after US President Trump signed an executive order imposing an additional 40% tariff on Brazilian goods, raising total tariffs to 50%. The measure, citing an “unusual and extraordinary threat” to the US, to take effect in seven days. The order references former President Bolsonaro’s trial in Brazil’s Supreme Court, calling it “politically motivated”. Brasília views the move as an unprecedented attempt to involve a foreign power in domestic judicial matters. Trump also sanctioned Minister Alexandre de Moraes under the Magnitsky Act. While tariffs on exports to the US could lead to a GDP loss up to 0.4%, the law implies that any company providing services to sanctioned individuals could be barred from operating with US institutions. Vale fell nearly 2%, CSN lost 0.6%, and Banco do Brasil dropped 1.4%. Petrobras (+0.4%) and Gerdau (+0.6%) rose.

Ibovespa Volatile After US Tariff Decree

US stocks held their slight gains on Wednesday as markets assessed the Fed's rate decision, a batch of economic and corporate data, and updates to US trade policy. The S&P 500 and the Nasdaq were around 0.4% higher to hover at record highs while the Dow was marginally up. The Fed held rates unchanged today, as expected, and refrained from signaling any future moves due to uncertainty on how tariffs will add to currently-stubborn levels of inflation. Meanwhile, the US GDP grew at a stronger-than-expected 3% in Q2, although the unwinding of import front-loads continued to distort the data. On the trade front, President Trump announced a 25% tariff on India starting August 1st, with possible further penalties over Russian energy imports. Visa was marginally in the green after delivering better-than-expected results, while Starbucks fell more than 1% despite reporting stronger-than-expected revenue. In turn, Microsoft and Meta were flat ahead of their earnings after the bell.

US Stocks Hold Increase After Fed

European stocks closed mostly higher on Wednesday, extending the rebound from last session as markets parsed a batch of economic data and key earnings results. The Eurozone's STOXX 50 inched 0.3% higher to 5,393, while heavier subsectors of healthcare and miners drove the pan-European STOXX 600 to close flat at 550. The Eurozone GDP grew 0.1% in Q2, led by expansions in France and Spain while the GDP in Germany and Italy contracted 0.1%. On the corporate front, L'Oréal rebounded 4% after posting higher sales in the US and China. UBS added 1% after posting a robust Q2. Kering jumped 1.6% despite reporting a revenue decline and BASF was flat, even after disclosing a fall in sales. On the other hand, Hermès fell 4.5% after its results disappointed investors and HSBC tumbled 2.9% despite reporting revenue growth and announcing a $3 billion share buyback. Adidas sank nearly 7% after posting weaker-than-expected revenue growth, and Novo Nordisk extended this week's plunge with a 6% drop.

European Stocks Inch Higher

Frankfurt's DAX closed about 0.2% higher at 24,262 after a choppy session on Wednesday, marking the second straight day of mild advances. Investors assessed a slew of regional economic data and fresh corporate earnings, while also monitoring developments on ongoing trade negotiations. Domestically, Germany's economy contracted by an expected 0.1% in Q2, reversing 0.4% growth in Q1. Meanwhile, the German cabinet has approved the 2026 draft budget, which includes a record investment of €126.7 billion and planned borrowing of €174 billion, aimed at reinforcing infrastructure and defence. On the corporate front, Siemens Healthineers gained roughly 2% on strong Q3 results and upgraded guidance, while Porsche AG added 1.7% as investors welcomed its strategic overhaul, despite a lowered outlook tied to a €400 million tariff hit.

DAX Rises for 2nd Day

The FTSE MIB rose 1% to close at 41,638 on Wednesday, lifted by corporate earnings ahead of the looming US August 1st tariff deadline. The Italian GDP unexpectedly contracted in Q2, although positive domestic demand and stronger-than-expected growth in broader Eurozone GDPs supported equities. Intesa Sanpaolo surged 4.4% after posting a €2.6B Q2 profit, beating the €2.4B estimate, with €7B in revenue also above forecasts. BPER Banca gained 3.1% on continued M&A speculation. Banca Monte Paschi di Siena climbed 2.9% amid optimism over its bid for Mediobanca, a move that could boost its scale in a potential second wave of consolidation. In contrast, Amplifon plunged 25.5% after an 8.7% drop in profits and a cut to its adjusted core profit margin forecast to 23%, down from 24%, with weakness seen in key markets including Southern Europe, North America, and China.

FTSE MIB Climbs on Earnings Boost

In Milan,  the FTSE MIB Index went up by 403 points or 0.98 percent on Wednesday. Top gainers were Intesa Sanpaolo (4.32%), Bper Banca (3.14%) and Banca Monte dei Paschi di Siena (2.90%). Biggest losses came from Amplifon (-25.46%), Recordati (-3.96%) and Hera (-2.98%).

The FTSE MIB Index Closes 0.98% Higher

The FTSE 100 edged lower on Wednesday, pressured by earnings-driven losses in heavyweight stocks. HSBC slumped 5% after quarterly profits missed forecasts, hit by higher restructuring costs and a $1.1 billion charge on its stake in China’s Bank of Communications. The bank also disclosed that its Swiss private banking arm is under investigation for alleged money laundering. Rio Tinto lost over 1% as profits declined amid stagnant commodity prices and trade uncertainty, with markets awaiting direction from incoming CEO Simon Trott. BAE Systems dipped more than 2% despite lifting its full-year outlook. Homebuilder Taylor Wimpey dropped 6%, the session’s worst performer, as market softness outweighed a rise in revenue. On the upside, GSK gained 4.6% on resilient earnings, while AstraZeneca climbed nearly 3%.

HSBC and Rio Tinto Drag FTSE 100

The S&P/TSX Composite struggled for direction trading flat around the 27,540 mark on Wednesday, as investors weighed mixed signals from Canada’s economy and the Bank of Canada’s monetary stance. The Bank of Canada held its policy rate at 2.75%—its third pause after 2.25?percentage points of cuts, citing persistent US tariff uncertainty, the risk of a Q2 GDP contraction after exporters front-loaded shipments, and the view that inflation will hover near its 2% target. While a resilient labour market and upbeat growth forecasts provided support, the lack of fresh guidance and uneven global trade kept the market cautious. Sector performance reflected this ambivalence with tech names Celestica (+5.3%) and Constellation Software (+0.7%) leading gains, financials were mixed with TD Bank (0.5%) and Scotiabank (0.7%) up while BMO fell over 1%, and energy producers—from Canadian Natural to Cenovus—each slid more than 0.5%.

Baystreet Struggles for Direction After BoC Decision

The Ibovespa edged above the flatline to over 133,000 on Tuesday as investors await Brazil’s key interest rate decision. In minutes from its June meeting, the central bank’s Copom signaled the Selic would remain at 15% annually for an extended period, citing persistent core inflation and strong demand pressures that justify a prolonged contractionary stance. Markets are also closely monitoring the trade dispute with the US, with the August 1st deadline approaching. President Donald Trump has threatened to impose a 50% tariff on Brazilian goods, but no progress in negotiations has been reported. Vale dropped nearly 1% as muted stimulus signals from China hurt the outlook on iron ore buying by Vale's top consumer. Meanwhile Petrobras (+0.3%), Bradesco (+1.4%), CSN (+0.2%), and Gerdau (+0.1%) advanced.

Ibovespa Rises as Investors Eye Key Interest Rate Decision

The S&P 500 edged up 0.1% and the Nasdaq gained 0.3% on Wednesday, while the Dow Jones hovered near the flatline, as investors awaited the Fed’s policy decision and assessed key economic data. The Fed is widely expected to keep the federal funds rate unchanged, with markets closely watching for guidance on the outlook for the rest of the year—especially after preliminary data showed US GDP grew at a stronger-than-expected 3% in Q2, reinforcing signs of a resilient economy. Meanwhile, Microsoft and Meta are scheduled to report quarterly results after the closing bell. On the trade front, President Trump announced a 25% tariff on India starting August 1st, with possible further penalties over Russian energy imports.

US Stocks Cautious Ahead of Fed

US stock futures pointed to gains at the open on Tuesday as investors digested strong GDP data and looked ahead to the Federal Reserve’s policy decision. The S&P 500 was little changed after data showed the US economy grew at a 3% annualized pace in Q2, signaling resilience. Markets expect the Fed to hold rates steady for a fifth straight meeting, with Chair Jerome Powell likely to avoid signaling a shift toward rate cuts amid lingering inflation uncertainty. Meanwhile, ADP data showed private payrolls rose by 104,000 in July, above expectations but still reflecting cooling labor demand. On trade, President Trump announced a 25% tariff on India starting Aug. 1, with possible further penalties over Russian energy imports. Investors are also watching megacap tech earnings, with Microsoft, Meta, and others expected to detail major AI-related capex plans as competition heats up.

US Stocks Set to Rise

India's BSE Sensex closed about 0.2% higher at 81,481.9 on Wednesday, advancing slightly for the second day, supported by strong earnings despite caution over the Fed’s upcoming decision and a delayed India-US trade deal. India is bracing for higher US tariffs of 20–25% on some exports ahead of an August 1 deadline to seal an agreement, government sources told Reuters. On the corporate front, Larsen & Toubro jumped over 4% after the infrastructure major reported a 29.8% rise in consolidated net profit during the June quarter, driven by strong overseas order growth.

Sensex Up for 2nd Day

Frankfurt's DAX attempted a recovery, rising 0.2% before paring gains to trade just above the flatline, as traders assessed a batch of corporate earnings and economic data, with trade negotiations also in focus. Regarding domestic data, Germany’s economy contracted by 0.1% in Q2, matching forecasts and reversing the 0.4% growth seen in Q1. Meanwhile, the German cabinet has approved the 2026 draft budget, which includes a record investment of €126.7 billion and planned borrowing of €174 billion, aimed at reinforcing infrastructure and defence. On the corporate front, Porsche AG led the gains, rising over 3%, as traders welcomed its commitment to a broad strategic overhaul, despite the company cutting its full-year outlook due to a €400 million tariff-related loss and increased trade uncertainty. Siemens Healthineers added more than 2% on strong Q3 earnings beat and after the firm raised its guidance.

DAX Tries Recovery

European stocks rebounded on Wednesday, recovering from early losses, with the STOXX 50 rising 0.2% and the STOXX 600 up 0.1%, as investors digested a fresh wave of corporate earnings and key economic data. The Eurozone economy unexpectedly grew 0.1% in Q2, led by expansions in France and Spain while the GDP in Germany and Italy contracted 0.1%. On the corporate front, shares of L'Oréal rebounded to jump more than 4% after the company posted a rise in sales led by the US and China. UBS was also up 1.8% as the lender reported a robust Q2. Kering jumped more than 4% despite reporting a revenue decline. BASF gained 1.3%, even after disclosing a fall in sales. On the other hand, Hermès fell more than 3.5% after its results disappointed investors and HSBC tumbled 2.9% despite reporting revenue growth and announcing a $3 billion share buyback. Adidas sank nearly 7% after posting weaker-than-expected revenue growth and warning that tariffs would raise prices in the US.

European Stocks Rebound

The Hang Seng lost 347 points or 1.4% to finish at 25,177 on Wednesday, extending losses from the prior session amid broad-based declines. Tech stocks slumped 2.7%, while consumer and financial sectors each fell around 1.5%, after U.S.-China trade talks ended without a meaningful breakthrough, leaving the final decision on tariffs to President Trump. Caution also grew ahead of the Fed’s rate decision later today, with analysts saying most officials prefer to assess the inflationary impact of tariffs, especially with Trump’s August 1 deadline looming. Meanwhile, upcoming official and private PMI data for July in China drew attention amid deflation fears and the effect of widespread trade barriers. Losses were capped by the third straight gain in mainland stocks, as investors positioned for a possible bull market. Hang Seng Bank plunged 7.3% after its H1 profit tumbled 30%. CATL fell 5% as Tesla signed a supply deal with LG Energy. Li Auto,  Mixue, and Pop Mart also posted steep falls.

Hang Seng Under Pressure at Close

The FTSE MIB rose slightly to around 41,260 on Wednesday, hovering near its highest level since mid-2007, as investors focused on earnings, trade talks, and the upcoming FOMC decision. Meanwhile, investors digested data showing Italy’s GDP contracted 0.2% in Q2, reversing Q1’s 0.3% growth and defying forecasts of a 0.2% expansion—the first decline since Q2 2023—due to weak net exports amid US tariff threats and volatile commodity prices. On the corporate front, Amplifon plunged over 20% after reporting an 8.7% drop in Q2 core profit, while Recordati fell nearly 3% despite a 9.6% rise in H1 profit, as it flagged stronger-than-expected currency headwinds. Still, gains in financials supported the index, including UniCredit (+0.9%), Intesa Sanpaolo (+0.7%), Banco BPM (+1%), and BPER Banca (+1.4%). Other notable risers included Prysmian (+2.1%), Davide Campari-Milano (+1.3%), Saipem (+1.1%), and Iveco Group (+1.9%).

FTSE MIB Hits Mid-2007 High

The CAC 40 edged up by 0.2% to 7,871 on Wednesday, extending gains from the previous session, as investors digested a fresh batch of corporate earnings alongside the latest developments in US-China trade negotiations. Danone led the index with a 6.1% surge, reaching a one-month high after surpassing Q2 sales expectations. At the same time, Kering climbed 4.5% despite reporting a decline in revenue, as its CFO indicated upcoming price increases in the US market to counteract the impact of tariffs. L'Oréal also advanced 2.1%, even though its quarterly sales fell short of forecasts. On the downside, Hermès plunged 3.1% after its results failed to meet expectations. Meanwhile, investor attention remained fixed on the recently concluded US-China trade talks. During the discussions, both economies showed support for extending the 90-day tariff truce, though Treasury Secretary Bessent noted that President Donald Trump holds final say on trade decisions, including any extension of the truce.

French Stocks Extend Gains

The FTSE 100 fell 0.4% on Wednesday, weighed down by earnings-related losses in major stocks. HSBC dropped over 4% after its quarterly profit missed estimates due to rising costs tied to restructuring and a $1.1 billion charge on its stake in China’s Bank of Communications, reflecting the ongoing weakness in China’s property sector. Additionally, HSBC revealed its Swiss private banking unit is under investigation for alleged money laundering. Rio Tinto also slipped more than 1.5% as first-half profits declined amid flat commodity prices and trade concerns, while investors await direction from new CEO Simon Trott. BAE Systems fell over 2% despite raising its sales and earnings guidance, benefiting from global defense spending. Taylor Wimpey was the worst performer, down more than 5%, as softer housing market conditions weighed on sentiment despite a revenue rise. On the upside, energy giants Shell and BP gained, lifted by rising oil prices.

The DAX in Frankfurt edged down 0.2% on Wednesday, giving back Tuesday’s gains, with earnings, trade negotiations, and the looming FOMC decision all in focus. Market participants also looked ahead to Germany’s Q2 GDP report, alongside upcoming labor market and economic growth data from the US. On the corporate front, Adidas sank nearly 8% after missing revenue expectations and warning that tariffs would push US prices higher.

DAX Falls on Wednesday

European stocks declined on Wednesday, with both the STOXX 50 and STOXX 600 slipping nearly 0.2%, reversing modest gains from the previous session, with investors continuing to focus on fresh corporate earnings. Hermès fell more than 2% after its results disappointed investors, while L'Oréal dropped 0.8% following second-quarter sales that missed forecasts. HSBC tumbled 4.4% despite reporting revenue growth and announcing a $3 billion share buyback. Adidas sank nearly 8% after posting weaker-than-expected revenue growth and warning that tariffs would raise prices in the US. In contrast, Kering rose almost 3% despite reporting a revenue decline, as its finance chief signaled further US price hikes to offset tariffs. BASF gained 1.1%, even after disclosing a fall in sales. Trade developments also remained in focus. China’s trade negotiator said Beijing and Washington had agreed to extend their tariff truce, although no further details were provided.

European Stocks Dip Amid Earnings Pressure

The Shanghai Composite rose 0.17% to close at 3,616 while the Shenzhen Component dropped 0.77% to 11,203 on Wednesday, with mainland stocks showing mixed performances as the US-China talks in Stockholm ended Tuesday without an extension of the current truce. US President Donald Trump must now approve the proposed plan, otherwise, tariffs will revert to April levels if no deal is reached by the August 12 deadline. Investors are also closely watching this week’s Politburo meeting for possible stimulus measures to support the slowing economy. In recent remarks, President Xi Jinping criticized local governments for over-investing in sectors like AI, computing power, and new energy vehicles, as Beijing intensifies efforts to address deflationary risks and curb industrial overcapacity. In corporate news, Contemporary Amperex fell 5.1% after Tesla signed a $4.3 billion battery deal with South Korea’s LG Energy Solution amid efforts to reduce reliance on China.

China Stocks Mixed Amid Trade Uncertainty

The Nikkei 225 Index shed 0.05% to close at 40,655 while the broader Topix Index gained 0.4% to 2,920 on Wednesday, with Japanese shares struggling for clear direction as investors braced for the latest Bank of Japan monetary policy decision. The central bank is widely expected to keep interest rates unchanged on Thursday amid uncertainty over the economic fallout from recent US tariffs. However, the central bank is likely to raise its inflation forecast in its quarterly outlook, reflecting ongoing price pressures. Investors also weighed prospects of another extension to the tariff truce between the US and China,  while Commerce Secretary Howard Lutnick confirmed that the August 1 tariff deadline for other countries remains firm. Notable gainers included Fujikura (+8.9%) and Furukawa Electric (+6.8%), while Keyence (-4.8%) and Sakura Internet (-7.6%) posted sharp losses.

Japanese Shares Wobble Ahead of BOJ Decision

The S&P/ASX 200 climbed 0.7% to a fresh record close of 8,756 on Wednesday, ending its four-session losing streak, driven by gains in major banks after soft inflation data boosted bets of an RBA rate cut in August. Australia’s headline inflation eased to 2.1% in Q2 from 2.4%, slightly below the 2.2% forecast, while the RBA’s preferred trimmed mean measure slowed to 2.7% from 2.9%, staying within the 2–3% target band. The soft inflation print, alongside recent labor market weakness, led markets to fully price in a 25bps rate cut in August and expect rates to fall to 3.1% by year-end. Meanwhile, caution lingered as US Commerce Secretary Lutnick ruled out any delay to Trump’s Friday tariff deadline, while separate trade talks with China ended without progress. On the corporate side, financials jumped 1.4%, with the Big Four banks up 1% to 1.6%, supported by optimism that lower rates will boost credit demand and profitability. Real estate stocks also advanced 1.2%, led by URW (0.7%).

Aussie Stocks Hits Fresh Record Close

The S&P/NZX 50 index fell 0.6% to close at 12,856 on Wednesday, snapping a four-day run of gains. Investors turned cautious after US-China trade talks concluded without any major breakthroughs. Although both sides agreed to seek an extension of their 90-day tariff truce, the final decision is up to President Trump. Adding to concerns, New Zealand—currently subject to Trump’s 10% baseline tariffs—could face higher levies of 15% to 20% if a deal isn't reached soon. Meanwhile, expectations that the US Federal Reserve will hold rates steady this week also contributed to the cautious mood. On the domestic front, New Zealand’s business confidence improved further in July, but conditions remain challenging for many firms, with forward-looking activity indicators showing little momentum. In corporate news, Mainfreight was the session’s biggest drag, plunging 9.6% after the logistics company reported a slow and disappointing start to FY2026, with profits down across its three main divisions.

New Zealand Stocks Snap 4-day Win Streak

European equity markets were set to open higher on Wednesday as investors reacted to a wave of corporate earnings. UBS beat expectations with strong Q2 net profit, supported by robust performance in its investment bank and wealth management divisions. HSBC announced a $3 billion share buyback, though its quarterly profit fell short of forecasts. Elsewhere, Siemens Healthineers and Santander delivered solid results for the June quarter. In contrast, L’Oréal missed sales estimates as weakness in Europe offset gains in the US and China. The company also warned that the US-EU trade deal could lead to higher costs. In premarket trading, Euro Stoxx 50 futures rose 0.3%, while Stoxx 600 futures edged up 0.15%.

European Markets Head Higher on Earnings Boost

The BSE Sensex remained largely flat, hovering around 81,361 after gains in the prior session, amid lingering uncertainty over US-India trade talks ahead of a looming tariff deadline. Traders continued to monitor developments after President Trump said that India could face tariffs of 20–25%, slightly below the 26% rate announced in April. Caution also stemmed from anticipated Q1 earnings, with major companies like Power Grid and Tata Power scheduled to release their results today. Investors were also awaiting the Fed’s interest rate decision, amid renewed pressure from President Trump for a more accommodative stance. On a positive note, the IMF upgraded India’s GDP forecast to 6.4% for both FY2026 and FY2027. Sector-wise, gains in pharmaceuticals and healthcare were offset by declines in auto and technology stocks. L&T surged 4.4% after reporting a 67% increase in net profit. Asian Paints rose 1.1%, while Tata Motors and ITC fell 3.8% and 0.5%, respectively.

India Stocks Muted in Morning Trade

Hong Kong stocks fell for the second session, down 46 points or 0.2% to 25,469 on Wednesday morning, after U.S.-China trade talks ended without a meaningful breakthrough. While extending the current tariff truce remains possible, Treasury Secretary Bessent said President Trump will have the final say. Caution also prevailed ahead of the Fed’s rate decision later today, with analysts noting most Fed officials prefer to wait and assess the inflationary impact of tariffs before acting—especially with Trump’s August 1 tariff deadline looming. Tech shares led the fall, followed by consumers and property, as traders awaited official and private PMI data for July. Losses were partially offset by gains in mainland Chinese stocks, buoyed by Beijing’s rollout of a national childcare subsidy aimed at lifting the country’s birth rate—just ahead of the key Politburo meeting later this month. Among early laggards were Li Auto (-10.5%), SMIC (-3.7%), Techtronic Inds. (-3.0%), and Pop Mart (-2.8%).

Shares in Hong Kong  Extend Weakness  on Trade, Fed Jitters

The Shanghai Composite rose 0.4% to above 3,620 while the Shenzhen Component fell 0.3% to 11,250 on Wednesday, with mainland stocks showing mixed performances as the US-China talks in Stockholm ended Tuesday without an extension of the current truce. President Donald Trump must now approve the proposed plan, otherwise, tariffs will revert to April levels if no deal is reached by the August 12 deadline. Investors are also closely watching this week’s Politburo meeting for possible stimulus measures to support the slowing economy. In recent remarks, President Xi Jinping criticized local governments for over-investing in sectors like AI, computing power, and new energy vehicles, as Beijing intensifies efforts to address deflationary risks and curb industrial overcapacity. Industrial and financial shares posted gains, while technology stocks lagged.

The benchmark KOSPI advanced 0.70% to around 3,250 on Wednesday, rising for the fourth consecutive session to a 4-year high, supported by easing trade uncertainty. South Korea’s finance ministry said Finance Minister Koo Yun-cheol, Industry Minister Kim Jung-kwan, and Trade Minister Yeo Han-koo held a two-hour meeting with US Commerce Secretary Howard Lutnick in Washington on Tuesday to address bilateral trade issues ahead of the Friday deadline. Meanwhile, Samsung Electronics Co. Chairman Lee Jae-yong traveled to the United States in an effort to support ongoing trade negotiations. His visit underscores the strategic relevance of semiconductor and technology cooperation within the talks and is expected to focus on advancing US investment initiatives, including semiconductor and AI chip manufacturing projects. Major gainers were Naver (2.36%), Kakao (2.14%), Samsung Electronics (1.98%), Kia Corporation (1.61%), and SK Hynix (0.57%).

KOSPI Rises for Fourth Session as Trade Talks Advance

SHANGHAI 50 increased to 2825.00 Index Points, the highest since November 2024. Over the past 4 weeks, Shanghai 50 gained 3.86%, and in the last 12 months, it increased 18.83%.

Stocks in China Hit 37-week High

The S&P/ASX 200 started nearly flat to around 8,700 on Wednesday, halting its two-session winning streak, as investors braced for the upcoming inflation figures. Australia is set to release both the Q2 2025 CPI and June Monthly CPI ahead of the RBA’s August 11–12 policy meeting. The Trimmed Mean CPI, the RBA’s preferred gauge, is expected to rise 2.7% YoY and 0.7% QoQ, slightly below Q1 levels. Headline CPI is seen up 0.8% QoQ and 2.2% YoY, while the monthly figure is likely held at 2.1% YoY. With inflation within the 2–3% target, further rate cuts from the RBA remain possible. On the trade front, caution lingered as US Commerce Secretary Howard Lutnick ruled out any delay to President Trump’s Friday tariff deadline, while separate talks with China ended without progress on pausing further duties. Among single stocks, biotech giant CSL (1.2%) led the advance, while major banks such as CBA, NAB, and Westpac were up around 0.3%. On the flip side, heavyweight miners declined nearly 0.4%.

ASX 200 Steady Ahead of Inflation Data

Japanese stocks were little changed on Wednesday, with both the Nikkei 225 and Topix indexes trading flat as investor caution prevailed following the conclusion of US-China trade talks in Stockholm without an extension to the current truce. US Treasury Secretary Scott Bessent noted that any agreement would require President Donald Trump’s final approval, while Commerce Secretary Howard Lutnick confirmed that the August 1 tariff deadline for other countries remains firm. On the domestic front, investors awaited the Bank of Japan’s latest policy decision, with the central bank widely expected to leave interest rates unchanged as it weighs the potential impact of US trade measures. Notable gainers included Fujikura (+8.4%) and Furukawa Electric (+8.5%), while Keyence (-4.3%) and Sakura Internet (-5.7%) posted sharp losses.

Japanese Shares Flat on Market Caution

US stock futures were flat on Wednesday as investors awaited the Federal Reserve’s latest policy announcement. The central bank is widely expected to keep interest rates unchanged, with markets closely watching for signals of a potential rate cut in September. Attention also turned to a fresh wave of corporate earnings, with results due from Meta Platforms, Microsoft, Ford, Etsy, Robinhood, and others. In extended trading, Starbucks jumped nearly 5% after reporting stronger-than-expected quarterly revenue, while Visa fell more than 2% despite posting solid results. On Tuesday, the S&P 500 slipped 0.3%, ending a six-day winning streak. The Nasdaq Composite dropped 0.38%, and the Dow lost 0.46% as investors weighed mixed earnings and lingering uncertainty over US-China trade talks.

US Futures Steady Ahead of Fed Decision

New Zealand stocks were little changed in Wednesday morning trade, hovering around 12,930, pausing after four sessions of gains. Strength in commercial services and utilities offset losses in industrial services and consumer non-durables. Investors cautiously awaited July’s business sentiment data, due later today, after June marked the first rise since February. In Australia, key monthly and quarterly inflation reports will be released later today. On Wall Street, the S&P 500 ended a six-day rally Tuesday as investors digested a wave of corporate earnings and closely tracked U.S.-China trade negotiations. Attention also turned to the Fed’s interest rate decision due later today, with President Trump renewing calls for rate cuts. U.S. inflation data later in the week added to the cautious mood. Colonial Motor Co. fell 2.1%, followed by Restaurant Brands NZ (-2.0%), and T&G Global (-1.8%). On the upside, PGG Wrightson rose 1.8%, Meridian Energy gained 1.2%, and Scales Corp. added 1.1%.

New Zealand Shares Subdued

The Ibovespa climbed 0.5% to close at 132,726 on Tuesday as a combination of easing trade-war anxieties, firming commodity prices and corporate catalysts lifted Brazil’s benchmark. Renewed US–China tariff-truce talks and the US–EU framework agreement capped the threat of broader duties on Brazilian exports, providing relief to agribusiness and industrial names, while Brent crude’s jump above $72 on fresh Russia–Ukraine sanctions fears underpinned oil-and-gas producers. At the same time, Embraer rallied 2.5% after the government signaled contingency support to shield its jet exports from the looming 50% US tariff. On the macro front, stronger-than-expected July business-confidence readings and IMF comments that Brazil’s fiscal trajectory remains manageable reinforced hopes that the Central Bank will maintain a steady Selic at this week’s Copom meeting—balancing inflation control with growth support.

Ibovespa Rebounds on Tuesday

The S&P/TSX Composite rose 0.5% to close at 27,540 on Tuesday, driven by a tech-led rally and renewed strength across commodities. Celestica paced the market with a 16.9% surge after upgrading its outlook, while oil climbed to a five-week high—spurred by a US–EU energy-buying pledge and heightened Russia–Ukraine sanctions risks—lifting Canadian Natural, Imperial Oil and Cenovus by over 1% each. Gold producers also rallied once bullion steadied from a three-week trough, with Agnico Eagle and Wheaton Precious adding 2.3% and 2.1%, respectively . An extension of the US–China tariff truce, coupled with stronger-than-expected US consumer-confidence data, reinforced bets that the Federal Reserve will maintain its “steady but watchful” stance at Wednesday’s meeting. At the same time, Sunday’s US–EU framework agreement—which sets a 15% baseline tariff—continued to soothe tariff-war fears and support Canada’s export-exposed sectors ahead of this week’s Bank of Canada rate decision.

TSX Outperforms Peers

The three major US indices closed in the red on Tuesday as mixed corporate earnings and caution ahead of the Federal Reserve’s policy decision weighed on sentiment. The S&P 500 fell 0.3% after briefly hitting a new intraday high, while the Nasdaq 100 dipped 0.2% and Dow slipped 204 points. Weak results from UnitedHealth (-7.5%), Boeing (-4.4%), and Merck (-1.7%) dragged the market, with United Parcel Service and Whirlpool also slumping over 10% after disappointing earnings and guidance. Investors also digested a dip in job openings and hiring in June, though July’s consumer confidence reading surprised to the upside. Meanwhile, trade talks between the US and China wrapped up without a finalized deal, leaving hopes pinned on an extension to the current tariff truce. The Fed is widely expected to keep interest rates unchanged on Wednesday, but markets are focused on signals about future policy direction amid signs of moderating inflation.

US Stocks Dip as Earnings Disappoint, Fed Meeting Looms

US stocks swung mostly lower on Tuesday amid a batch of pessimistic earnings reports and concerns that trade turbulence may not have ended. The S&P 500 and the Nasdaq 100 hovered below the flatline after reaching records in morning trading, while the Dow fell more than 150 points. Earnings and guidance releases from the largest companies before the open were tilted toward the pessimistic side, with United Health sinking over 5% amid the warning that its full-year earnings are likely to be below expectations, while Merck lost 3% despite posting an earnings beat. Also, UPS plummeted 10% as tariffs are likely to hurt its outlook, and Boeing dropped 3% after its event. On the data front, job openings were slightly below expectations to kick off a batch of new labor market updates this week, although a consumer confidence gauge inched higher. On the trade front, the US extended its tariff truce with China, but the high likelihood of the move prevented a positive reaction for stocks.

US Stocks Erase Gains

In Milan,  the FTSE MIB Index rose 502 points or 1.23 percent on Tuesday. Leading the gains are MFE-MediaForEurope (9.55%), Iveco Group (5.17%) and Bper Banca (4.87%).

The FTSE MIB Index Closes 1.23% Higher

In Frankfurt,  the DAX Index gained 247 points or 1.03 percent on Tuesday. Gains were led by Rheinmetall (3.89%), MTU Aero Engines AG (3.06%) and Siemens Energy (3.03%).

The DAX Index Closes 1.03% Higher

The FTSE MIB rose 1.2% to close at 41,234 on Tuesday, outperforming other European indices to its highest in eighteen years amid gains in the heavy-weight financial sector. Intesa Sanpaolo and UniCredit added more than 2% each, tracking major banks in Southern Europe. Also, BPER Banca jumped 5% after completing the acquisition of Banca Popolare di Sondrio and entering the integration phase, lifting the latter by 3%. Also, Iveco gained nearly 5% after confirming it is in “ongoing, advanced” talks for two separate deals involving its defense unit and core business. On the trade front, broader sectors recovered from losses yesterday as US officials noted there is still more to negotiate in their trade deal with the EU by Friday, particularly metals and chips. In turn, Stellantis inched higher despite posting a net loss of €2.3 billion in the first half of the year.

FTSE MIB Gains on Corporate Optimism

In Paris,  the CAC 40 Index went up by 56 points or 0.72 percent on Tuesday. Top gainers were Essilor (6.36%), Orange (2.84%) and Thales (2.52%). Biggest losses came from Edenred (-3.53%), LVMH (-2.71%) and Pernod Ricard (-1.95%).

The CAC 40 Index Closes 0.72% Higher

In London,  the FTSE 100 Index rose 58 points or 0.64 percent on Tuesday. Leading the gains are AstraZeneca (3.41%), Convatec Group (2.60%) and Barclays (2.52%). Top losers were Croda International (-9.00%), Glencore (-3.62%) and Rentokil Initial (-3.48%).

The FTSE 100 Index Closes 0.64% Higher

The CAC 40 index rose 0.7% to close at 7,857 on Tuesday, as investors balanced a raft of strong half-year earnings against the fallout from the new US–EU trade framework. EssilorLuxottica led the advance, jumping 6.9% after reporting higher H1 operating profit despite tariff headwinds, while Air?Liquide and Orange rose 1.7% and 2.1%, respectively, on similarly upbeat updates. In contrast, luxury names bore the brunt of profit-taking, LVMH fell 2.9% and Hermès dipped 0.4%, as market participants questioned the pact’s Eurozone impact, with French critics and German Chancellor Merz warning that its perceived tilt toward the US could undercut European exporters and dampen regional growth.

CAC 40 Lifted by Upbeat Corporate Earnings

European stocks closed higher on Tuesday, rebounding from losses in the previous session as a batch of optimistic corporate earnings weighed against unilateral tariffs from the US. The Eurozone's STOXX 50 added 0.7% to 5,376 and the pan-European STOXX 600 rose by a softer 0.2% to 550, weighed Novo Nordisk shares. EssilorLuxotica surged 6.4% after reporting a higher operating profit, despite facing tariff-related headwinds. Banks also performed well after a period of more muted movements, with Santander, BBVA, and Intesa Sanpaolo each gaining more than 2%. In turn, Stellantis recouped sharp losses from earlier in the session and closed marginally in the green after reporting a first-half net loss of €2.3 billion. Outside the Eurozone, AstraZeneca gained 3.5% following its earnings release, and Barclays posted better-than-expected profits and announced a £1 billion share buyback. On the other hand, Novo Nordisk plunged 22% after issuing a profit warning and changing its CEO.

The FTSE 100 rose over 0.5% to a new record high on Tuesday, lifted by strong corporate earnings and improved sentiment around the UK economy. AstraZeneca shares jumped 3.5% after reporting solid second-quarter results, driven by strong cancer drug sales and reaffirmed guidance. Barclays also advanced 2.5% despite a mixed report, as its investment banking division outperformed, aligning with peers benefiting from trade-related market volatility. Greggs reported a 7% rise in first-half revenue, overcoming weaker footfall due to the hot weather. Adding to the upbeat tone, the IMF forecast that UK economic growth will surpass other major European economies this year and next. On the housing front, Zoopla data showed a rise in demand during July, while mortgage approvals in June slightly exceeded expectations, pointing to signs of resilience in the UK property market.

FTSE 100 Rises to New Record High

US stocks held their slight gains on Tuesday as markets assessed a series of earning reports ahead of major economic developments. The S&P 500 added 0.3% to 6,400 and the Nasdaq 100 gained 0.5% to cross 23,400, both at record highs, while the Dow hovered near the flatline. Union Pacific jumped 2% after agreeing to acquire Norfolk Southern in the US's largest ever rail deal. In the meantime, tech giants were mostly higher ahead of earnings results from the largest market caps in the world this week, including Microsoft, Meta, Amazon, and Apple. On the other hand, United Health (-6%), P&G, (-1%), Merck & Co (-8.5%), UPS (-7%), and Boeing (-1.5%) were all sharply lower after reporting results before the bell. Job openings missed forecasts to kick off a batch of new labor market updates this week, in addition to the US GDP, expected to rebound sharply. The Fed is expected to hold rates tomorrow as the robust economic backdrop coincides with pro-inflationary risks of steeper US tariffs.

S&P 500 and Nasdaq 100 Rise to Records

The Ibovespa rose 0.3% toward 132,500 on Tuesday amid modest gains for corporate giants, while attention remains on Brazil’s position in trade talks with the US ahead of the August 1st deadline for potential 50% tariffs on Brazilian goods deadline for potential 50% tariffs on Brazilian goods. Finance Minister Fernando Haddad said Vice President Geraldo Alckmin held a third and extended call with US Commerce Secretary Howard Lutnick, adding that Brazil is confident it will succeed in securing favorable terms. Lutnick said President Trump will decide on the deals by August 1st. Meanwhile, the IMF raised Brazil’s growth forecast for 2026 but still sees a slight deceleration ahead. Vale (+0.6%) and Petrobras (+0.2%) advanced, along with major banks Banco do Brasil (+0.2%) and Itaú Unibanco (+0.3%). Steelmakers CSN (+0.4%) and Gerdau (-0.7%) were mixed, as were retailers Americanas (+3.1%) and Magazine Luiza (-1.1%).

Ibovespa Gains Ahead of US Tariff Decision

US stocks were mostly higher on Tuesday as markets assessed a series of earning reports ahead of major economic developments later in the week. The S&P 500 was slightly higher and the Nasdaq 100 gained more than 0.5%, both at record highs, while the Dow hovered near the flatline. Union Pacific jumped 2% after agreeing to acquire Norfolk Southern in the US's largest ever rail deal. In the meantime, tech giants were mostly higher ahead of earnings results from the largest market caps in the world this week, including Microsoft, Meta, Amazon, and Apple. On the other hand, United Health (-6%), P&G, (-1%), Merck & Co (-8.5%), UPS (-7%), and Boeing (-1.5%) were all sharply lower after reporting results before the bell. The JOLTS will shortly kick off a batch of new labor market updates this week, in addition to the US GDP, expected to rebound sharply. The Fed is expected to hold rates tomorrow as the robust economic backdrop coincides with pro-inflationary risks of steeper US tariffs.

US Stocks Inch Higher

The S&P/TSX Composite climbed around 0.3% to above the 27,480 mark on Tuesday, testing new record highs as robust gains in both tech and commodities drove the advance. Leading the charge, Celestica surged over 16% on stronger-than-expected Q2 results, while heavyweight peers Shopify and Constellation Software added about 1%. In energy, renewed Middle East supply concerns and tighter OPEC+ quotas lifted oil prices, underpinning producers across the sector, and gold miners caught a bid after bullion steadied near a three-week low amid hints that easing trade tensions could support demand. Meanwhile, Sunday’s US–EU framework agreement—setting a 15% baseline tariff—helped allay fears of broader tariff escalation and provided a bump to export-exposed industries such as railway operators. Looking ahead, investors are bracing for key central bank decisions from the Bank of Canada and the US Federal Reserve, along with a slate of heavyweight earnings later this week.

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