Fixed Income Market Overview
Treasury yields dipped on Tuesday ahead of key inflation data before the Federal Reserve’s September meeting. The 10-year Treasury yield fell by nearly 3 basis points to 3.674%, while the 2-year yield dropped over 2 basis points to 3.642%. Yields stabilized after last week’s declines driven by weak labor market data. Investors are closely watching August’s consumer price index, to be released Wednesday, and the producer price index on Thursday. Debate continues over whether the Fed will opt for a 50 basis point rate cut, with market pricing at 27% for this larger cut versus 73% for a 25 basis point cut.
Google’s 2.4 billion euro fine upheld by Europe’s top court in EU antitrust probe.
Swiggy plans to raise Rs 5,000 crore via fresh issue in upcoming IPO.
Brent oil falls below $70 per barrel, lowest level since December 2021 as OPEC cuts forecast.
Apple must pay 13 billion euros in back taxes, EU’s top court rules.
Indian lender Bajaj Housing Finance’s $782M IPO was oversubscribed by 2x on the first day of bidding.
Major Indicies
| Symbol | Price | Change | %Change |
|---|---|---|---|
| DJIA | 40,736.96 | -92.63 | -0.23%↓ |
| NASDAQ | 18,829.14 | 168.36 | 0.90%↑ |
| S&P 500 | 5,495.52 | 24.47 | 0.45%↑ |
| FTSE 100 | 8,205.98 | -64.86 | -0.78%↓ |
| SX5E | 4,747.20 | -31.46 | -0.66%↓ |
| NIKKEI | 36,159.16 | -56.59 | -0.16%↓ |
| HSI | 17,234.09 | 37.13 | 0.22%↑ |
| VIX | 19.08 | -0.37 | -1.90%↓ |
Bonds
| Name | Yeild | CHG |
|---|---|---|
| US 10-YR | 3.65% | -0.050 |
| US 30-YR | 3.97% | -0.030 |
| US 5-YR | 3.43% | -0.063 |
| JPN 10-YR | 0.89% | -0.006 |
| UK 10-YR | 3.82% | -0.044 |
Futures & Commodities
| Name | Last | Change | %Change |
|---|---|---|---|
| WTI CRUDE | 64.69 | -2.62 | -3.89%↓ |
| NAT GAS | 2.23 | 0.06 | 2.86%↑ |
| GOLD | 2,543.10 | 10.40 | 0.41%↑ |
| SILVER | 28.61 | -0.04 | -0.13%↓ |
| COPPER | 4.10 | -0.05 | -1.12%↓ |
Equity Market Overview
Oracle
Oracle shares surged 13% on Tuesday, nearing a record high after surpassing Wall Street’s fiscal Q1 estimates. The company reported adjusted earnings per share of $1.39 and revenue of $13.31 billion, both exceeding expectations. Revenue grew 8% year-over-year, with cloud services and license support contributing $10.52 billion. Oracle projects 8- 10% revenue growth for the current quarter. Notably, cloud infrastructure revenue rose 45%, up from 42% last quarter. Oracle also announced plans for a data center powered by modular nuclear reactors and partnerships with Google Cloud and Amazon Web Services.
Huawei
Huawei announced its trifold Mate XT smartphone, starting at over $2,800, with pre-orders surpassing 4 million ahead of its Sept. 20 launch, coinciding with Apple’s iPhone 16 release. The Mate XT features AI capabilities, a 10.2-inch screen, and comes in three storage options. Meanwhile, Apple’s new iPhone 16 Pro Max starts at $1,199, also launching on Sept. 20 with enhanced AI features through a free software update. Huawei’s Mate XT is part of the company’s comeback effort after U.S. sanctions, contrasting with Apple’s recent drop from the top five smartphone vendors in China.
