After Jackson Hole is ahead of Nvidia’s earnings report
French political uncertainty sparks market jitters, sending European equities tumbling, with the CAC 40 falling a further 1.7% yesterday. In contrast, US stocks buck the trend despite concerns over the Fed's independence. Today, market participants will focus on upcoming corporate earnings, in particular Nvidia's quarterly results. And we have Dario Messi, Head of Fixed Income Research, on the show to discuss what Jackson Hole and the French confidence vote mean for bond markets, and what fixed income investors should do now.(00:00) - Introduction: Bernadette Anderko, Product & Investment Content
(00:27) - Markets wrap-up: Jan Bopp, Product & Investment Content
(05:52) - What Jackson Hole and the French confidence vote mean for bond markets: Dario Messi, Head of Fixed Income Research
(11:30) - Closing remarks: Bernadette Anderko, Product & Investment Content
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12:38
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12:38
President Trump tries a new tack to unsettle the Fed
The US President attempted to sack Federal Reserve Board Governor Lisa Cook yesterday – a move that saw the dollar fall and gold gain. These moves were somewhat reversed when Governor Cook’s lawyer called the action illegal and lacking proper process and Cook vowed not to quit. Trump was also in the news for threatening “200% tariffs or something” on China if it does not export rare-earth magnets to the US. European markets closed Monday lower with the CAC 40 down more than 1.6% after the country’s Prime Minister announced that he will seek a confidence vote in parliament next month over the government’s budget plans. US markets also traded lower on Monday following Friday’s rally, and Asia followed suit with the exception of China’s CSI 300 which traded marginally higher. Richard Tang, Head of Equity Research Asia, shares his thoughts on the recent Chinese equity rally and explains why he now believes that A shares should outperform H shares. He also provides insights into his preferred sectors for those looking to get on board. (00:00) - Introduction: Mike Rauber, Product & Investment Content
(01:05) - Markets wrap-up: Bernadette Anderko, Product & Investment Content
(07:07) - Asia update, including China: Richard Tang, Head of Equity Research Asia
(12:27) - Closing remarks: Mike Rauber, Product & Investment Content
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13:38
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13:38
Jerome Powell opens the door to interest rate cuts
Global markets have rallied following Federal Reserve Chairman Jerome Powell's dovish speech on Friday that opened the door to interest rate cuts. In response, stocks, bonds, gold, and crypto assets surged, while the US dollar has fallen. Asian equity markets are following Wall Street this morning, led by shares in Hong Kong. The US government will acquire a 9.9% stake in Intel. Looking ahead to the week, key events include Nvidia's earnings report on Wednesday after the market close, as well as crucial inflation data releases on both sides of the Atlantic on Friday. According to Mensur Pocinci, Head of Technical Analysis Research, market breadth indicators in the US and Europe suggest further stock market gains are likely through to the end of the year.(00:00) - Introduction: Bernadette Anderko, Product & Investment Content
(00:28) - Markets wrap-up: Mike Rauber, Product & Investment Content
(06:20) - Technical Analysis update: Mensur Pocinci, Head of Technical Analysis
(09:55) - Closing remarks: Bernadette Anderko, Product & Investment Content
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11:05
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11:05
S&P 500 continues to slide, while Walmart warns of tariff impact
US stocks extended their losses amid trade tensions and mixed corporate earnings. Stronger-than-expected PMI data and warnings from Walmart, the US retail giant, that Trump's tariffs are driving up costs, have heightened inflation concerns and lifted yields. As markets are looking for direction, investors eagerly await Federal Reserve Chairman Powell's keynote speech at Jackson Hole, seeking guidance on future interest rates. Tim Gagie, Head of FX/PM Solutions Geneva, discusses what this means for the US dollar and in which currencies he sees opportunities.(00:00) - Introduction: Helen Freer, Product & Investment Content
(00:24) - Markets wrap-up: Jan Bopp, Product & Investment Content
(06:22) - FX and metals: Tim Gagie, Head of FX/PM PB Geneva
(10:47) - Closing remarks: Helen Freer, Product & Investment Content
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12:01
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12:01
A significant intra-day reversal in US technology stocks
The Nasdaq 100 fell as much as 1.5% before recovering to close just 0.6% lower. Markets remain on edge ahead of key events, including Jay Powell's speech at the Jackson Hole Symposium tomorrow, whilst the USD remains unchanged and gold rises amid concerns over Fed independence. UK inflation surged to an 18-month high and government bonds rallied, lifting large-cap UK stocks, whilst Asian markets showed mixed results, with technology-heavy Korea and Taiwan rising and Japan's Nikkei 225 falling. Shares in Shanghai have reached their highest in a decade. Carsten Menke, Head of Next Generation Research, discusses the Circular Economy investment theme, focusing on the plastic problem.(00:00) - Introduction: Helen Freer, Product & Investment Content
(00:28) - Markets wrap-up: Mike Rauber, Product & Investment Content
(06:34) - Circular Economy: Carsten Menke, Head of Next Generation Research
(10:26) - Closing remarks: Helen Freer, Product & Investment Content
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Moving Markets is a daily market news briefing from Julius Baer. Our experts discuss the latest market developments and put the headlines in perspective to set you up for the coming day. The information contained in this podcast is marketing material. Opinions expressed do not constitute independent financial/investment research, investment advice, or an offer to buy or sell securities by Julius Baer. Please refer to www.juliusbaer.com/legal/podcasts for important legal information prior to listening to this podcast.
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