- Sentiments on Asian session were very good with Japanese Nikkei and Chinese Hang Seng surging almost 1.5%, as Wall Street halted much of yesterday's declines, driven by the highest U.S. CPI inflation reading since August 2023 (for January). The Nasdaq 100 reversed a daily decline of more than 1% for the first time since November 2024 and rose 0.12%; the S&P 500 and DJIA closed the session down slightly
- Cisco Systems shares gain more than 6%, following its quarterly results; the company beat profit forecasts and provided higher-than-expected revenue guidance, while unveiling a $15 billion share repurchase program. The company's shares are trading at their highest since December 2021. Today, the key data for the markets will be published at 2:30 pm and will be manufacturing price inflation (PPI) and unemployment claims from the US.
- The Eurodollar is gaining thanks to the prospect of a peace ceasefire in Ukraine and, most importantly, on the wave of declining concerns about aggressive US trade policy. Trump conveyed that he will sign an executive order on reciprocal tariffs with certain countries today. After yesterday's note from Ireland's foreign ministry, which cited a contact at the transatlantic conference, investors became convinced that an agreement and no escalation of the trade war is still possible between Europe and the US
- Declines in the USDIDX dollar index, which is losing more than 0.4% today, are spurring gold, which is adding another 0.3%, rising back above $2915 per ounce. Silver is also gaining, with palladium and platinum rising nearly 1%
- Gas prices rise more than 3.5% to $3.6 per MMBtu. Oil continues yesterday's declines due to higher-than-forecast U.S. inventories according to the EIA and the prospect of peace in Ukraine; Donald Trump conveyed that both Putin and Zelenskiy want peace; he indicated that Ukraine is unlikely to join NATO and regain all lost territories. Trump's meeting with Putin would take place in Saudi Arabia
- The Fed's Goolsbee called yesterday's data worrying, but stressed that it was only one reading. At the same time, he stressed that if subsequent readings are similar, it will be evidence that the work on the Fed's side is not yet done.
- The mood of the cryptocurrency market is mixed; Bitcoin, however, managed to make up a good part of yesterday's declines and is trading near $97,000. The price of the TRUMP token is instead rising by as much as 16%
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