Market News

●         Asian Stock Markets : Nikkei up 0.04%, Shanghai Composite up 0.24% Hang Seng down 0.15% ASX down 0.19%

●        Commodities : Gold at $4,416.11 (-0.53%) Silver at $66.808 (-0.29%), Brent Oil at 99.34 (1.45%), WTI Oil at 94.22 (1.27%)

●        Rates : US 10-year yield at 4.801, UK 10-year yield at 5.1778, Germany 10-year yield at 3.3562

●        (JPY)     M2 Money Stock y/y  2.0% to 2.2%  expected

U.S. stock futures were little changed Tuesday evening after Wall Street ended lower, as rising oil prices continued to weigh on investor sentiment.

Dow Jones Industrial Average futures slipped 21 points, while S&P 500 and Nasdaq 100 futures remained close to unchanged…

IC – Europe Fundamental Forecast | 09 September 2026

What happened in the Asia session?

The Asia session was dominated less by a single surprise economic release and more by the combination of higher oil prices + Middle East geopolitical risk + a stronger yen/BOJ tightening outlook + firmer Chinese inflation.

USD/JPY and other yen crosses remain particularly important, while for commodities, Brent and WTI are the instruments showing the strongest headline sensitivity. Traders are also positioning cautiously ahead of the U.S. PPI and CPI releases later this week, which could determine whether the oil-driven inflation risk materially changes expectations for Federal Reserve policy.

What does it mean for the Europe & US sessions?

Brent…

FUNDAMENTAL OVERVIEW

The price action in gold has been mildly negative since Friday after the strong US NFP revived Fed rate hike bets and increased real yields. Higher real yields raise the opportunity cost of holding gold because gold pays zero interest while safe government bonds offer a positive, inflation-adjusted return.

The key themes to watch are the US-Iran war and Fed tightening expectations. With tensions in the Middle East escalating, oil prices have been rising steadily, increasing inflation risks. The Fed, on the other hand, has been leaning against higher inflation expectations by adopting a hawkish bias and signalling rate hikes in case core…

FUNDAMENTAL OVERVIEW

The Nasdaq has been trading in a tight range this week as traders await the crucial US CPI report due on Friday. If you recall, the Nasdaq rallied strongly last Thursday after some dovish Fed’s Waller comments indicated that he would be willing to keep interest rate unchanged at the September meeting barring a hot CPI.

On Friday, the price spiked lower after the US NFPsurprised to the upside showing job growth in August almost tripling the consensus estimate of 56Ka strong. The losses didn’t last long, though, as most of the NFP-driven moves got faded thereafter.

This happened because the market focus was not on the NFP report, but on the CPI. The…

IC – Asia Fundamental Forecast | 09 September 2026

What happened in the U.S. session?

The escalation involving Saudi energy infrastructure pushed crude toward $100, which simultaneously increased inflation expectations, Treasury yields and Fed-hike expectations. That combination pressured U.S. equities while supporting the dollar. Gold remained caught between geopolitical safe-haven demand and the negative effect of higher yields.

What does it mean for the Asia Session?

Wednesday’s Asian session is likely to be driven primarily by oil and geopolitics, followed by the yen and U.S. rate expectations. Brent crude’s approach toward $100 is particularly important because another sharp oil move could strengthen inflation concerns, push Treasury…

It is the same story as it has been for stocks in Europe. There was a more choppy mood in the past two days but now we're starting to see the downside risks take over in trading today.

The Eurostoxx is down 0.7% with Germany's benchmark DAX also down by 0.7%. Meanwhile, France's CAC 40 index is down by roughly 1% on the day after the opening hour or so.

The key driver remains higher oil prices. And that in turn is also driving higher bond yields in the region ahead of the ECB policy decision tomorrow.

Brent crude oil briefly clipped the $100 mark earlier and oil prices continuing to rise is just making things a little more uncomfortable for equities at the moment.

Despite higher yields, we are seeing banking stocks get dragged lower with…

What I'll be watching in the stock market today

• AI infrastructure led Tuesday’s winners, with strength across computing, chips and optical networking.

• Salesforce and ServiceNow fell, as investors questioned how AI competition could affect established software businesses.

• Wednesday’s test: Do those winners hold their gains while software continues to lag?

• I'm also watching an early possible trend in utilities stocks

Tuesday’s technology trading raised a useful question for Wednesday, September 9: Are investors becoming more selective about which companies benefit from AI?

CoreWeave, AMD, Intel, Corning and Lumentum rallied, while Salesforce fell about 4% and ServiceNow lost about 5%. According to Reuters, concerns about AI competition weighed on…

US Stocks Fall Again as Middle East Hostilities Spread – Dow down 1.2%

US equities came under further pressure in trading yesterday as geopolitical tensions in the Middle East continued to escalate. The latest developments saw the Houthis launch attacks on Saudi energy facilities, while the US again targeted Iranian tankers, adding to concerns around the potential disruption to regional energy supplies as the Strait of Hormuz becomes more hostile on a daily basis. The renewed escalation kept risk sentiment subdued, with the Dow falling 1.18% to 52,786, while the S&P 500 declined 0.58% to 7,673 and the Nasdaq finished 0.32% lower at 26,421.

US Treasury yields moved higher as markets opened the new week, with the 2-year yield rising…

Gold is trading up over 1% today to be back above the $4,400 level currently. That chips away at some of the declines from the past few days but is this enough to signify a turnaround in price momentum for the precious metal?

Well, not quite.

What is behind the bounce in gold today?

The simplest story comes from the technical side of things. The drop in gold last week saw price fall to test the 50.0 Fib retracement level of the swing higher from July to August, seen around $4,328. That before a rebound and then a fall back after since last Friday.

The fall this week sees gold push towards a test of the 100-day moving average (red line) at around $4,343. And that is a key line in the sand as we look to the daily chart, alongside the 50.0 Fib…

FUNDAMENTAL OVERVIEW

Similar to Bitcoin, Ethereum had a volatile end to last week. On Thursday, the price spiked to the upside after some dovish Fed’s Waller comments indicated that he would be willing to keep interest rate unchanged at the September meeting barring hot CPI data.

Since he deviated from his usual hawkish stance, it triggered a dovish repricing in interest rate expectations which lowered the probabilities for a September rate hike and gave Ethereum a boost.

On Friday, most of the Waller-driven gains were erased after the US NFPsurprised to the upside showing job growth in August almost tripling the consensus estimate of 56K. This triggered a hawkish…