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Nasdaq reaches record as oil prices ease

US technology shares drove the Nasdaq-100 to a fresh record on Tuesday. Hopes that talks between US and Iranian officials could ease the Middle East conflict pushed oil prices lower, although the US dollar strengthened and gold retreated. Asian equities were mixed on Wednesday ahead of Thursday's Trump-Xi meeting, while Purchasing Managers’ Indices from Europe and the US will be in focus later in the day.

  • Date
  • Auteur Shane Strowmatt, Senior Investment Writer
  • Temps de lecture 5 minutes

Nasdaq
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US equities ended mixed on Tuesday as the Dow Jones Industrial Average fell 0.4% to 51,863.69 points, while the S&P 500 was essentially unchanged at 7764.64 points and the Nasdaq-100 gained 0.8% to a record 30,732.40 points. Sentiment was supported by reports that US President Donald Trump and Iranian representatives held three-hour talks in New York aimed at ending the Iran war. Meanwhile, financial, insurance and online travel stocks declined amid concerns that Meta’s new AI assistant could disrupt businesses reliant on consumer inertia.

Oil falls after US-Iran talks

Oil prices declined on Wednesday as prospects for a diplomatic resolution to the Middle East conflict raised expectations that supply disruptions could ease. Brent crude oil futures fell 0.5% to USD 98.75 per barrel, while West Texas Intermediate (WTI) futures declined 1.1% to USD 89.50 per barrel. US President Donald Trump said US officials had held a productive three-hour meeting with Iran’s delegation on Tuesday, while Iran reportedly indicated it could reopen the Strait of Hormuz within a week if Washington reduced military pressure and lifted its blockade of Iranian ports. US Treasury yields fell across the curve on Tuesday, with the 10-year yield just below 5.0%, its lowest level in a week, while the policy-sensitive 2-year yield stood at 4.7% after recently reaching its highest level since 2024. The US Dollar Index edged up 0.2% to 100.73. Gold declined 0.6% to around USD 4330 per ounce, while bitcoin gained 1.6% to around USD 86,700.

Asian equities lack direction

Asian stock markets traded unevenly on Wednesday as investors awaited Thursday’s meeting between US President Donald Trump and Chinese President Xi Jinping, which is expected to address trade, artificial intelligence, supply chains and geopolitical issues. South Korea’s KOSPI rose 0.4%, supported by a near-3% gain in Samsung Electronics, while mainland China’s CSI 300 lost 0.7% and Hong Kong’s Hang Seng declined 1%. Australia’s S&P/ASX 200 was little changed, while India’s Nifty 50 gained 0.4%.

European stocks end little changed

European equities were broadly steady on Tuesday as investors continued to monitor oil prices. The EuroStoxx 50 gained 0.1% to 6323.15 points, while Switzerland’s SMI was little changed at 13,953.39 points. Retailer Kingfisher surged about 12% after reporting stronger-than-expected half-year earnings and raising its annual outlook, while Austrian semiconductor producer AT&S gained 10.4% after expanding its partnership with Marvell Technology.

Corporate and economic calendar

Corporate news in focus: There is no major corporate news scheduled today.

Economic data in focus: French Purchasing Managers’ Index (09:15), German Purchasing Managers’ Index (09:30), euro-area Purchasing Managers’ Index (10:00), UK Purchasing Managers’ Index (10:30) and US Purchasing Managers’ Index (15:45).
 

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