Moving Markets

US stocks fell due to concerns about the Middle East, a fall in large-cap tech stocks (except Nvidia), and reduced expectations for interest rate cuts following a strong US labour market. Oil prices rose above USD 80 a barrel on Middle East concerns, but then fell back due to lack of new stimulus measures announced by China. The USD strengthened to a 7-week high against major currencies, while gold held steady. Chinese stocks initially surged after a week-long holiday, but gave up some gains as investors were disappointed by the lack of new stimulus measures announced after the Golden Week holiday. This also weighed on Hong Kong shares, which are down sharply today. Manuel Villegas, Next Generation Research, notes that a Democratic sweep is a tail risk for digital assets.

00:00 Introduction by Lucija Caculovic (Investment Writing)
00:24 Markets wrap-up by Mike Rauber (Investment Writing)
07:34 Digital assets: Manuel Villages (Head of Next Generation Research)
11:13 Closing remarks by Lucija Caculovic (Investment Writing)

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What is Moving Markets?

Moving Markets is the home of podcasts at Julius Baer. Here, our expert teams share concise daily market updates in ‘Moving Markets Daily’ which is complemented by ‘Moving Markets: The View Beyond’, a weekly show dedicated to discussing the context, thematic angles, and investment implications behind key topics shaping the news cycle and conversations among our relationship managers and clients.

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.