• US indices are losing ground in anticipation of tomorrow's Fed decision and Microsoft's earnings release after the close of the cash session. The leader of the declines is Nvidia and the broader semiconductor sector. BigTech companies also remain under pressure.

  • The US100 index of technology companies loses 1.60% and falls below 19,000 points, the US500 is down 0.80% and the small-cap index gains 0.11%.

  • Indices in Europe closed the cash session higher. Germany's DAX gained 0.56% today, France's CAC40 added 0.42%. Meanwhile, the Polish WIG20 lost 1.42%. 

  • CPI data from Germany came in slightly above expectations, even though regional data indicated slightly lower inflationary pressures in Germany. However, the small magnitude of the surprise does not cause excessive movements in the currency market.

  • Microsoft will report its Q4 results for fiscal 2024 today after the close of trading on Wall Street. This will be the first earnings report from a cluster of tech giants scheduled for this week and could affect market sentiment ahead of reports from other tech giants.

  • PayPal Holdings is gaining 8.5% today after the company reported second quarter results that exceeded expectations. The company raised its full-year 2024 earnings guidance to $3.88-3.98 per share and increased its share repurchase plan to $6bn.

  • The Bank of Japan will make its interest rate decision in the first part of the day tomorrow. Currently, investor expectations point with a near 70% probability to a rate hike of 10 basis points to 0.20%.

  • The JOLTS report for June, on new jobs, showed growth slightly above expectations at 8.18 million (expectations: 8.02 million) versus 8.14 million previously. 

  • WTI crude oil loses 1.25% amid falling supply concerns and low demand. Meanwhile, gold gains 0.83% and breaks above the $2,400 level. Natural gas is gaining nearly 3% today. 

  • Cryptocurrencies record a slight correction. Bitcoin loses 1.20% and tests the $66,000 level. Ethereum and smaller projects lose slightly less, 0.50% each.