October 22, 2026

Daily commentary

A session marked by strong risk aversion, with equities under pressure from selling in tech megacaps following Meta’s earnings report—which reignited doubts about the return on AI spending—and from the escalation in the Middle East following attacks on an Aramco facility and an airport in Saudi Arabia, which...
October 21, 2026

Daily commentary

Equities closed higher thanks to SpaceX's earnings and strong preliminary results from Super Micro Computer, which reignited artificial intelligence trading and eased concerns about whether high levels of capital expenditures would translate into profits. Stock indices advanced, with the Nasdaq rising 1.1%...
October 20, 2026

Daily commentary

In global markets, U.S. stock indices closed mixed amid earnings season (about 70 S&P 500 companies are reporting this week) and as oil prices fell from multi-week highs. The Dow Jones rose 1.0% and the S&P 500 0.3%, while the Nasdaq ended...
October 19, 2026

Daily commentary

The session kicked off the week with a rebound in tech stocks following the Nasdaq 100’s worst week since April 2025. Buyers returned to semiconductors on the expectation that the AI investment cycle will continue to support corporate earnings, ahead of a week packed with...
October 13, 2026

Market Flash

The S&P 500 hit a record high on Monday and gained 1.2% for the week. The setback came on Thursday: according to the Financial Times, OpenAI’s revenue run rate is around $50 billion, about $20 billion less than what was reported in September, and the sell-off hit chip and data center stocks. That day, Brent crude rose 4% due to attacks on ships in...
October 5, 2026

Market Flash

The U.S. economy added just 29,000 jobs in September, compared with the 90,000 expected, and the unemployment rate rose to 4.2%. The market interpreted this as good news: less pressure on the Fed to raise rates again in October. The Nasdaq 100 closed Friday at a record high, driven by AI and chips, while the Dow fell 1.3% on...
September 30, 2026

Daily commentary

The session was dominated by fixed income after the August core PCE rose less than expected, 0.2% month-over-month, with a downward revision to the previous month, bringing the probability of an October Fed rate hike below 40% according to futures estimates. The Treasury curve experienced a bearish steepener led by...
September 29, 2026

Daily commentary

A cautious session in global markets. John Williams, president of the New York Fed, said that another rate hike could be appropriate later this year, although not urgently after the September hike, and estimated inflation at 3.5% by 2026, driven by energy and AI-related demand. The estimate of...
September 28, 2026

Daily commentary

A risk-averse session followed Trump's rejection of Iran's latest proposal to reopen the Strait of Hormuz, prolonging the energy shock and deepening the sell-off in Treasuries. Equity indexes closed lower, with the Nasdaq falling 0.9%, the S&P 500 0.8%, and the Dow Jones 0.7%. Asia was the...