United States API Crude Oil Stock Change

Australia Ai Group Construction Index

Australia Ai Group Manufacturing Index

Australia Ai Group Industry Index

Silver prices rose toward $60 per ounce, halting the plunge that bottomed at a seven-month low of $57 on June 24th, and outperforming gold in the last sessions as the outlook of strong industrial demand weighed against pressure from a restrictive Fed. Equities for chip producers and datacenter developers rallied for a second session to reflect long bets on the construction of compute capacity. The activity boosted the outlook of silver demand due to its use usage in AI infrastructure for its conductive nature. Still, the hawkish outlook for the Fed maintained pressure in assets that do not bear coupons. Strong labor market data and surveys pointing to higher inflation drove a large portion of the FOMC to project more restrictive rates this year. On top of that, fixed-income supply risked a decline as Fed Chairman Warsh campaigned for a lower Fed balance sheet, reversing the debasement trade from late 2025.

Silver Rebounds from 7-Month Low

Gold was at $4,030 per ounce on Tuesday, holding near their lowest in nearly eight months as restrictive monetary policy by the Fed was combined with a reversal of the dollar debasement trade. Gold was set to drop 11% in Q2, its worst quarter in decades. Strength in recent economic data consolidated a backdrop that supports the hawkish view of a large portion of FOMC members. The JOLTS pointed to the highest number of job openings in two years and analysts have penciled another sharp month of non-farm payroll gains in June. On top of that, the latest core inflation prints remained departed further from the Fed's 2% target. The aggressive pullback for gold was aligned with the elevated yields for Treasury notes and bonds, favoring coupon-bearing assets instead of bullion. Fed Chairman Warsh announced the pending creation of task forces to evaluate the need for the central bank's large balance sheet, setting the stage for the bond-selling that he has campaigned for previously.

Gold Hovers Near 8-Month Low

The FTSE MIB rose 1% to close at 51,682 on Tuesday, making it Europe's best-performing major index in the first half of the year with gains of around 15%. Avio led gains at 6.7%, followed by Leonardo (1.9%). Buzzi (3%) and Nexi (2.4%) also posted considerable gains. Banking stocks rebounded after softer-than-expected inflation data from the Eurozone's largest economies annuled bets on larger ECB rate hikes this year. The domestic rate softened to 3%, undershooting expectations of 3.1%. BPER Banca climbed 3.1%, followed by UniCredit (2.0%), FinecoBank (1.9%), Mediobanca (1.7%), Banco Mediolanum (1.6%), Intesa Sanpaolo (1.5%), Banca Monte dei Paschi di Siena (1.2%), and Banco BPM (1.1%). Insurers Unipol (3.0%) and Generali (1.7%) also advanced. Semiconductor and AI stocks benefited from a global rally, lifting STMicroelectronics (1.5%) and Prysmian (0.9%). Oil linked firms, Saipem (3.8%) and Eni (0.6%), continue to gain while oil traffic regains.

FTSE MIB Ends First Half Up 15%

The FTSE 100 rose slightly on Tuesday, securing its sixth consecutive quarterly gain with an over 3% rise in Q2 following a 2.5% climb in Q1, marking the index's strongest performance streak since 2022. Market momentum was led by a rally in aerospace and defense shares, with Rolls-Royce climbing 2.1% and BAE Systems adding 2%. Heightened geopolitical optimism and improving base metal values similarly lifted mining stocks like Rio Tinto and Glencore. Financial institutions provided solid support as Lloyds Banking jumped 2.1% alongside steady gains for HSBC, Barclays, and NatWest, while J Sainsbury rose 1.3% on heatwave driven food sales. Conversely, heavyweights AstraZeneca, Unilever, and BP all dropped over 1%, and British American Tobacco fell 0.9%. On the macroeconomic front, the UK’s annualized first quarter GDP growth was scaled back to 0.9%, while quarterly growth matched projections at 0.6% and shop inflation held flat at 1.2%.

Trending Symbols And Events

Most latest news, events and ideas for smart decisions

Latest News