Quarterly Outlook
Q3 Investor Outlook: Beyond American shores – why diversification is your strongest ally
Jacob Falkencrone
Global Head of Investment Strategy
Senior Relationship Manager
Summary: Can the week get any hotter?
Good morning,
We saw a strong rebound in tech stocks that sold off on Monday during the Deepseek scare. Nvidia rose 7.8%, Apple 3.6%, Meta 2.5%, and Microsoft 2.76%. This pulled the Nasdaq higher by 2%. The US 500 gained 0.9%, and the Dow Jones 0.3%. ASML reported very strong bookings this morning at 7 billion versus 4 billion expected.
US 10-Year Yields are slightly lower at 2.52%; the peak on January 5 was 2.8%. The USD Index has receded to 107.75 amidst massive volatility; on Monday, it traded below 107. EURUSD is at 1.0440, GBPUSD at 1.2455, and USDJPY at 155.26.
Gold and Silver are at 2760 and 30.40, respectively, with Bitcoin at 102500, all somewhat midrange and looking for the next big directional push.
We are heading into the hot phase of the week:
Wednesday,
- AU CPI, Sweden GDP& Rate Decision, Bank of Canada, FOMC Rate decision and press conference
- Earnings: Tesla, Meta, Microsoft, ASML, IBM,
Thursday
- France GDP, De GDP, EU GDP, ECB Rate Decision, US GDP, Initial Jobless claim
- Earnings: Apple, Intel, Nokia, UPS, Dow, Blackstone,
Friday;
- China PMI, France CPI, US PCE,
- Earnings: Abbvie, Colgate Palmolive, Chevron.