24/07/2026 Daily Reports
- Nasdaq
The Nasdaq Composite fell 2.1% on Thursday, weighed down by a 7% drop in Alphabet and a 14% decline in Tesla following their quarterly results. Both companies posted negative free cash flow for the second quarter. Alphabet exceeded earnings expectations but lifted its 2026 capital expenditure forecast to as much as $205 billion, and European regulators fined the company €890 million ($1 billion) over alleged preferential treatment of its own services. After the close, Intel reported revenue of $16.13 billion against $14.42 billion expected and EPS of $0.42 versus $0.21 expected, guiding third-quarter revenue to $15.8–16.8 billion; shares rose in after-hours trade. CFO David Zinsner raised the 2026 capital-spending plan from $18 billion to $20 billion.
- DAX
The DAX closed 1.56% lower on Thursday as investors assessed the European Central Bank’s policy decision alongside corporate results. European equities weakened through the session on rising government bond yields, with the STOXX 600 down 0.8% in early trading and higher crude prices renewing inflation concerns. The ECB held its deposit rate at 2.25%, with euro-area inflation at 2.8% against the 2% target and GDP growth projected at 0.8%.
- Nikkei
Japan’s Nikkei 225 fell 2.6% on Thursday, while the Topix lost 1.28% to 4,002.09. Technology and semiconductor names led the decline amid renewed concerns over AI infrastructure spending and Middle East tensions, erasing the previous session’s gains. Sumitomo Metal Mining, Lasertec and Advantest among the strongest performers.
- Brent Crude
Brent traded near $102 a barrel after Houthi attacks on tankers in the Red Sea opened a new front in the conflict and President Trump threatened to extend US strikes on Iran. The benchmark eased slightly on Friday but remains up more than 13% this week, having closed above $100,5 in the prior session for the first time in two months. Trump warned the US would destroy an Iranian bridge or power plant for each Iranian attack on shipping in the Strait of Hormuz; Iran said it would retaliate against US-linked infrastructure and energy assets across the region.
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Gold is facing serious headwinds as a perfect storm of geopolitical escalation and macroeconomic shifts rattles the markets.
Here are the key takeaways from the latest market action:
- Energy Shock: Brent crude has surged past the $100/bbl mark for the first time since May, driven by escalating Middle East conflicts and a collapsed truce.
- Tariff Turmoil: The US is imposing new 10%–12.5% duties on major trading partners, reigniting protectionist supply chain concerns.
- Hawkish Fed Expectations: The combination of spiking energy costs and a resilient labor market is driving up rate hike bets. Swap traders see a 34% chance of a hike next week, with one already priced in for September.
- Precious Metals Feeling the Heat: Higher borrowing costs are dragging down non-yielding assets. Gold is testing the critical $4,000 support level (down significantly from its record $5,600 high earlier this year), while silver sits near $57.62, with a break below $55.19 potentially triggering fresh sell-offs.
What’s Next?
When you combine $100 crude oil with a resilient labor market, the Fed is essentially backed into a hawkish corner, which drastically increases the opportunity cost of holding zero-yield assets like gold. Moving forward, keeping a close eye on the US Dollar Index will be essential—especially to see how it digests these new protectionist tariffs—as it will likely dictate the next major technical breakout or breakdown for both gold and silver parities.
