12/08/2026 Daily Reports
- Nasdaq. The Nasdaq Composite closed Tuesday down 0.60%, with the S&P 500 off 0.3% and the Dow down 0.3%, as the US-Iran standoff intensified. President Trump rebuked Iran’s demand for war reparations and said he would wait for economic pressure to build, while Iranian Foreign Minister Abbas Araghchi said there was no possibility of restarting negotiations under current conditions. Alphabet fell about 3.6%. Nvidia had dropped nearly 3% on Monday after a Financial Times report that it is working with Apollo Global and Blackstone on a $500 billion AI infrastructure funding package. Intel extended its decline after raising its planned stock sale by $5 billion to $20 billion. The July Consumer Price Index is released today at 8:30 a.m. Eastern. Consensus is 3.4% headline year-on-year against 3.5% prior, and 2.5% core.
- DAX. The DAX rose 0.2%, on Tuesday to close at 26,391, led by Siemens Energy (+2.56%), Deutsche Telekom (+1.64%) and RWE (+1.52%). Siemens Energy advanced on reports it booked its highest quarterly gas-turbine order intake, while RWE and E.ON gained ahead of earnings this week. Adidas fell about 3% after On Holding missed second-quarter net sales estimates, and Zalando declined 2.8%.
- Nikkei. Tokyo was closed Tuesday for a public holiday. The Nikkei 225 ended Wednesday’s morning session at 67,040.18, up 0.10%, with buying concentrated in AI and semiconductor names following US chip gains. Trading volumes were subdued amid summer holidays and caution ahead of the US CPI release. Monday’s close was 66,970, up 2.08%, led by Recruit Holdings (+22.79%).
- Gold. Spot gold settled late Tuesday at $4369 , within a day’s range of $4,356–$4,436, up 0.7% today . The People’s Bank of China added roughly 20 tonnes to reserves in July after about 15 tonnes in June, the largest monthly increase since October 2023. Second-quarter global gold demand fell to 942 tonnes, the lowest since the third quarter of 2021, on weaker jewellery demand and ETF outflows.
- Brent. Brent rose more than 2% overnight into Wednesday, with October futures at $90,02, after attacks on Middle East shipping weakened prospects for a deal to reopen the Strait of Hormuz. The benchmark is up about 24% versus pre-conflict levels. In its outlook released Tuesday, the EIA said it does not expect Middle East production to return near pre-conflict levels until early 2027 and projects Brent averaging $87 a barrel in 2026. Industry data showed US crude inventories rose 9.1 million barrels last week, the largest build since February.
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Global markets edged higher today as investors focused on the U.S. CPI report and its potential impact on the Federal Reserve’s interest-rate policy.
Oil prices remained elevated due to geopolitical risks surrounding Iran and uncertainty over shipping through the Strait of Hormuz, keeping global inflation concerns in focus.
Gold gained on safe-haven demand as investors positioned ahead of the U.S. inflation data. A softer-than-expected CPI reading could strengthen expectations for Fed rate cuts and support gold prices.
Asian markets were supported by strong technology stocks, with South Korea’s Kospi rising around 3.7%, while Japanese and Taiwanese equities also advanced.
The US July CPI report is dropping today, and it could be the exact catalyst the market needs to redefine the Fed’s next move. Here is what you need to watch:
- The Market Consensus: Expectations are pointing to a subdued 0.1% month-on-month for headline inflation and 0.2% for core. If we see core drop to 0.1%, get ready for some serious market reactions.
- September Rate Hike in Danger? A soft inflation print today could completely wipe out the current 50% probability of a Fed rate hike in September.
- Dollar Under Pressure: If inflation cools, expect a bullish steepening of the yield curve. The DXY could finally break below its tight 99.40-100.00 trading range, giving a solid boost to risk assets.
- EUR/USD Struggles: Despite positive eurozone data, the Euro is being weighed down by Gulf tensions and high natural gas prices (€60/MWh). However, a weak US CPI could give it the momentum needed to test the 1.1580 resistance.
- The Wildcard: Keep an eye on Washington. Rumors of a Capital Gains Tax cut ahead of the midterms could add further pro-risk, dollar-negative pressure to the mix.
