Public Markets 8-Hour Briefing
×Global Markets
The FTSE 100 held close to a new record as UK markets maintained their upward trajectory. US stock futures fell as Nvidia curbed post-earning gains, with investors also keeping an eye on US-Iran nuclear talks.
Asian Markets
Hong Kong Exchange posted a 15% gain in net income as Chinese firms sought to list and trading jumped. Japan's Nikkei 225 hit a record high on cooling rate hike bets and technology gains, signaling continued investor optimism in Asian markets.
Sector Moves
Baidu experienced a swift $11 billion selloff as the company struggles to meet AI hype, highlighting the challenges Chinese tech firms face in delivering on artificial intelligence promises. Buffett fan Raamdeo Agrawal warns that the stock boom for elite companies may be hurting India's broader market, suggesting a growing divide in equity performance.
Commodities & Currencies
Gold extended gains as traders eye US tariffs and Iran nuclear talks, with the precious metal serving as a safe haven amid geopolitical uncertainties. Lithium prices jumped after Zimbabwe banned concentrate exports, fueling fears that global supplies of the battery ingredient will tighten, impacting the electric vehicle supply chain.
Company News
Qantas shares fell the most in almost a year after earnings from its international unit unexpectedly declined and the company flagged rising costs from wages and aircraft maintenance. Wall Street believes Japan's yield curve flattening has gone too far, signaling potential shifts in the global bond markets as investors reassess monetary policy expectations.