Philip Papageorgiou

US equities rebounded on softer CPI, lifting rate-cut expectations and powering a tech-led rally, with semiconductors outperforming. Shutdown-distorted labour and consumption data kept macro uncertainty elevated, while Japan’s rate hike pushed yields to multi-year highs. Eurozone inflation stayed near target, resource stocks surged, and the DAX regained bullish momentum above key Fibonacci levels. Market tone: constructive but prone to near-term volatility.

US equities fell sharply with Nasdaq down 1.81% and S&P 500 off 1.16% as tech weakness deepened. Oracle dropped 5% on financing concerns, while Nvidia and AMD slid after reports of Chinese EUV progress and AI-chip ecosystem shifts. Energy outperformed on crude gains. Germany 40 trades near 23,988 after failing to hold above 24,409, signaling a corrective phase. Key support at 23,841 must hold to avoid deeper retracement.

US stocks ended lower Friday with Nasdaq underperforming as Broadcom plunged 11% on AI backlog concerns and Oracle fell on data center delays. Banks also pressured sentiment, while trade headlines eased tariff risks. Germany 40 trades at 24,244, approaching resistance at 24,600 after a strong rebound from November lows. Bullish momentum persists, but failure to break resistance could trigger a pullback toward 23,786.

The S&P 500 closed at a record high (+0.21%) for the first time since October, while the Dow also reached a new peak as investors rotated out of high-valuation AI stocks following the Fed’s rate cut. Financials and materials led gains, while tech declined despite strong YTD performance. Germany 40 trades at 24,423, nearing resistance at 24,785 with bullish momentum intact. Copper surged on Chinese stimulus hopes; global equities broadly firmed.

Markets brace for this week’s Fed meeting with an 84% chance of a 25bp cut priced in, despite internal dissent and data gaps from the shutdown. Powell’s tone expected to drive sentiment more than the decision itself. Germany 40 trades at 24,050 after breaking key resistance, signaling bullish momentum toward 24,200. IMF warns Germany on productivity, while Japan unveils €120B stimulus and corporate reforms.

Global equities rebounded as Fed officials signaled possible rate cuts, driving December odds above 60%. US indices rallied, bonds strengthened, and Asian and European markets followed suit. Oil stayed soft, gold held firm, and the yen hovered near lows. Trade and climate policy headlines dominated the G20 backdrop, while technical signals hint at a cautious recovery in Germany’s DAX.

Global markets traded cautiously ahead of Nvidia’s earnings, expected to trigger a record USD 320 bn market-cap swing. US stocks fell, led by tech weakness and fading rate-cut hopes. The DAX extended its slide toward 23,000, entering oversold territory with momentum still weak. Fed officials flagged liquidity stress and hinted at early 2026 balance-sheet expansion. Washington’s tariff cuts and US–Brazil rare-earth cooperation added geopolitical texture, while Apple, Google, and AMD led corporate highlights. Focus shifts to Nvidia’s results and the December FOMC outlook.

Global equities rallied last week as optimism over a US–China trade framework and upbeat tech earnings lifted sentiment. The S&P 500 and Nasdaq hit record highs, while the Nikkei saw its best monthly gain since 1990. The DAX rebounded from 24,000, testing resistance near 24,125 in a cautiously bullish setup. Powell’s dovish tone and softer inflation supported risk assets, while gold and Treasuries eased as havens unwound. This week’s focus: ISM data, RBA and BoE decisions, and another packed earnings calendar.

The DAX rally faces resistance near 24,510- 24,650 as RSI signals overbought and momentum shows early signs of exhaustion. US indices hit record highs led by tech and healthcare, while weak jobs data and the shutdown delay payrolls, reinforcing Fed cut bets. Gold hovers near $3,900/oz with Goldman bullish, oil steadies ahead of OPEC+.