06/08/2026 Daily Reports
- Tech Pullback: Asian markets took a hit today (Kospi -3.64%, Nikkei -1.57%) after Wall Street’s AI-driven rally hit the brakes. Even with solid earnings from AMD and SpaceX, investors are starting to question how long the heavy AI spending can be sustained without faster returns.
- Geopolitics & Oil: Brent crude is holding steady around $79.31. All eyes are on the Middle East as markets weigh the prospects of a proposed Iran-Oman deal that could impact shipping through the Strait of Hormuz.
- Macro Data on Deck: ADP private payrolls came in weak (44k vs expected 69k). With a 54% chance of a Fed rate hike in September, Friday’s Non-Farm Payrolls (NFP) report is going to be the ultimate market mover this week.
- Metals on Fire: Safe havens are loving the uncertainty! Spot gold is tearing up past $4,290 an ounce, and silver is pushing $62.48.
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Global markets remained supported by strong corporate earnings and optimism that tensions in the Middle East could ease. The S&P 500 and Dow Jones traded near record highs, while technology stocks faced profit-taking pressure. Gold extended its rally on the back of a weaker U.S. dollar and lower Treasury yields, while oil prices remained volatile amid ongoing geopolitical developments. Investors are now focused on upcoming U.S. labor market data and any new signals from the Federal Reserve regarding the interest rate outlook.
- Nasdaq. US futures were mixed on Thursday, with Nasdaq 100 contracts lagging. AMD reported second-quarter revenue of $11.5bn, up 50% year on year, and non-GAAP EPS of $1.66 above consensus, but capital expenditure rose to $808m from $282m a year earlier and the shares fell. SpaceX posted a 92% revenue increase to $7.8bn in its first public quarter; its initial lock-up expired today, releasing roughly 911.5m shares. Nvidia rose over 3% after being named SpaceX’s exclusive AI chip supplier. Fiserv fell 12% after cutting full-year adjusted EPS guidance to $7.20–$7.40 from $8.00–$8.30. Challenger, Gray & Christmas reported July layoffs at a two-year low, ahead of weekly jobless claims and Friday’s July employment report. Fed Governor Lisa Cook said she would support further tightening if inflation stops moderating.
- DAX. The index reached a record above 26,300 on Wednesday before easing, and traded near 26,160 on Thursday. Fresenius rose 4.9% after beating second-quarter estimates and raising full-year guidance. Beiersdorf also gained 4.9% despite a 3.5% first-half sales decline, alongside a €100m investment plan for Nivea. Bayer reported an unexpected rise in quarterly profit, while Zalando fell sharply after moving its 2026 revenue outlook to the lower end of guidance.
- Nikkei. The index closed 0.93% lower at 65,683 after Wednesday’s 3.66% advance. Losses were concentrated in AI and semiconductor names: Kioxia fell 10.2%, Taiyo Yuden 11%, Ibiden 6.5%, Tokyo Electron 5.5% and Murata 5.2%. SoftBank Group declined around 4% ahead of its earnings release after the close. Nintendo reported better-than-expected results, aided by US tariff refunds and Switch 2 software sales.
- Gold. Spot gold rose about 0.7% to roughly $4304 an ounce, a fourth consecutive daily gain and close to 6% higher on the week. Markets now price one Federal Reserve rate increase by year-end, down from two a week ago.
- Brent. Prices steadied near $78,20 a barrel after Iran said it had reached an agreement with Oman on a temporary shipping corridor through the Strait of Hormuz, with a joint statement under review. Reuters reported Tehran is seeking transit fees of 5–7% of cargo value against Oman’s proposed 3%; Washington has rejected payments. Kpler data showed eight transits on Tuesday versus 130–140 before the war. Houthi forces reported an attack on a Saudi vessel in the Red Sea.
