Higher oil prices and Treasury yields kept worrying investors. Following the foodsteps of Brent crude futures, U.S. WTI crude futures surpassed the mark of 100 dollars, settling 6.43 dollars higher (+6.69%) at 102.48 dollars a barrel. U.S. President Donald Trump said the U.S.-Iran conflict may not end until after the November midterms.
The U.S. 10-year Treasury advanced 11.6 basis points to 4.961%, the highest level since November 2023.
U.S. data showed that producer price inflation accelerated to 5.4% year-on-year in August, faster than expected, and was stable at 0.4% month-on-month, as expected.
Meanwhile, the CME FedWatch pointed out that traders are seeing a much higher 73% chance of the Federal Reserve hiking interest rates by 25 basis points next week.
Nvidia (NVDA) dropped 2.37%, posting a three-session retreat.
Meta Platforms (META) declined 1.42%, and Tesla (TSLA) was down 1.16%.
Meanwhile, Apple (AAPL) rebounded 3.56%, outperforming both the market and fellow mega-cap tech stocks.
Semiconductor stocks reversed Wednesday's relative strength, with Intel (INTC) losing 5.57%, Micron Technology (MU) down 4.90%, Marvell Technology (MRVL) down 3.43%, and Advanced Micro Devices (AMD) down 3.36%.
American Eagle Outfitters (AEO) gapped down 13.97%. The clothing retailer reported lower-than-expected quarterly comparable sales.
Macy's (M) fell 4.70% despite the fact that the department-store retailer’s quarterly revenue and earnings exceeded expectations.
Freeport-McMoRan (FCX) dropped 6.56% after reports that the White House has yet to make a decision on proposed copper tariffs.
Oracle (ORCL) closed 5.38% lower, but rebounded 4% in after-market hours. The enterprise software and cloud computing company raised its full-year earnings forecast, citing strong demand for AI cloud services.
European stocks remained under pressure, with the DAX 40 declining 0.84%, the CAC 40 down 0.49%, and the FTSE 100 down 0.57%.
Spot gold retreated 83 dollars (-1.90%) to 4,318 dollars an ounce.The U.S. dollar strengthened as oil-driven rate-hike bets rose. USD/JPY rebounded 87 pips to 154.42.
EUR/USD slipped 21 pips to 1.1612. As widely expected, the European Central Bank raised its key rates by 25 basis points. It also warned that the Middle East conflict could drive inflation to levels well above target for an extended period.
GBP/USD fell 36 pips to 1.3511, and AUD/USD slid 61 pips to 0.7157.
USD/CHF climbed 27 pips to 0.8128, and USD/CAD was up 28 pips to 1.3833.
Bitcoin dropped further, losing 2% to trade below 77,000 dollars.
Sworzeń:
98.50
Nasze preferencje:
Long positions above 98.50 with targets at 104.70 & 107.00 in extension.
Alternatywny scenariusz:
Below 98.50 look for further downside with 95.35 & 91.85 as targets.
Komentarz:
The RSI shows downside momentum.
Sworzeń:
Our pivot point is at 4,398.
Nasze preferencje:
The downside prevails as long as 4,398 is resistance, with 4,281 and 4,250 as targets
Alternatywny scenariusz:
Above 4,398, look for 4,449 and 4,480.
Komentarz:
As prices close in on our first target, this level may spark a pullback. However, a definitive break below it could pave the way for a deeper decline.
Sworzeń:
Our pivot point is at 1.1649.
Nasze preferencje:
The downside prevails as long as 1.1649 is resistance, with 1.1597 and 1.1584 as targets
Alternatywny scenariusz:
Above 1.1649, look for 1.1672 and 1.1685.
Komentarz:
As prices close in on our first target, this level may spark a pullback. However, a definitive break below it could pave the way for a deeper decline.
Sworzeń:
29350
Nasze preferencje:
Short positions below 29350 with targets at 29040 & 28930 in extension.
Alternatywny scenariusz:
Above 29350 look for further upside with 29500 & 29630 as targets.
Komentarz:
The RSI advocates for further decline.
Sworzeń:
Our pivot point is at 1.3554.
Nasze preferencje:
The downside prevails as long as 1.3554 is resistance, with 1.3496 and 1.3481 as targets
Alternatywny scenariusz:
Above 1.3554, look for 1.3578 and 1.3593.
Komentarz:
With prices nearing our first target, a pullback may emerge, though a clean break below could accelerate the downside.
Sworzeń:
64150
Nasze preferencje:
Short positions below 64150 with targets at 62200 & 61500 in extension.
Alternatywny scenariusz:
Above 64150 look for further upside with 64800 & 65300 as targets.
Komentarz:
The RSI advocates for further decline.