23/07/2026 Daily Reports
- Nasdaq
The Nasdaq Composite slipped 0.57% to close at 25,690.90 on Wednesday, with attention now on after-hours megacap earnings. Alphabet reported 24% sales growth led by an 81% jump in cloud revenue, but free cash flow turned negative as $45 billion in quarterly capital expenditure outweighed operating cash flow; the stock fell around 3% after hours. Tesla posted 26% revenue growth while adjusted EPS came in well below Wall Street estimates, sending shares down roughly 5%. Supermicro shares surged after the AI server maker reported a record backlog, while IBM also released second-quarter results. Intel is scheduled to report today. FactSet data places expected year-over-year S&P 500 second-quarter earnings growth at 24.7%.
- DAX
Frankfurt’s DAX 40 rose 0.5% to 25,150 on Wednesday, near a two-week high, as corporate earnings and guidance offset caution over rising oil prices and Middle East-related inflation risk. Airbus led gains, jumping 6% after unveiling 2029 profit targets citing robust commercial aircraft demand and announcing an earlier-than-expected share buyback; MTU Aero Engines gained over 2%. Gea advanced more than 5% after raising its full-year outlook. Investors are focused on today’s European Central Bank policy meeting, where rates are widely expected to remain unchanged following a June increase.
- Nikkei
The Nikkei 225 slipped 0.18% to 66,115 on Wednesday as the semiconductor rally lost momentum ahead of US tech earnings. Tokyo Electron, SoftBank Group and Fast Retailing declined, while Kioxia, Taiyo Yuden and Murata Manufacturing advanced. Japan’s trade balance moved into deficit in June as import growth outpaced exports. The index was trading at 66,296.11, up 0.27%, in Thursday’s session.
- Brent Crude
Brent futures settled 3.4% higher at $95.47 per barrel on Wednesday, the highest in over a month, briefly topping $96. Gains followed an eleventh consecutive night of US strikes on Iranian military facilities. Secretary of State Marco Rubio said Washington remains open to diplomacy but accused Iran of failing to honour prior commitments, stressing that any agreement must guarantee Strait of Hormuz navigation. Houthi threats to Red Sea shipping and attacks on the Caspian Pipeline Consortium terminal added pressure, while EIA data showed an unexpected 1.4 million barrel crude stock build. Trump warned of strikes on Iranian infrastructure should Tehran target Hormuz shipping, after Houthi forces struck two Saudi tankers in the Red Sea.
- Gold and Silver
Gold climbed to $4,150 an ounce on Wednesday, its highest since 7 July, on safe-haven demand and technical buying ahead of next week’s Federal Reserve meeting. It traded near $4,138 into Thursday, with initial jobless claims due today
Open A Live Account
CDO has wide range of tools, professional and friendly support for clients to achieve their financial markets trading goals. Open a live account now to enjoy this experience with virtual deposit.
CDO TRADER
CDO TRADER, our cutting-edge trading platform, follows the technology from the forefront with new features added continuously. Moreover, CDO TRADER is now available for Android and iOS! So it allows you to trade on the go!
Sterling has enjoyed a surprisingly strong summer, gaining ground against both the Euro and a resilient US Dollar. However, recent analysis suggests this rally is built on shaky foundations and might soon run out of steam.
- Weak Fundamentals: The rally is not a true UK economic re-rating. While the currency has strengthened, the risk premium remains heavily embedded in UK gilts, showing investors are still cautious about the underlying economy.
- The Short Squeeze Effect: Traders placed heavy bearish bets ahead of the local elections in May. When the currency didn’t crash as expected, a massive short squeeze—combined with quiet summer markets—artificially propelled the Pound upward.
- Central Bank Divergence: The Bank of England is largely expected to keep rates steady unless inflation unexpectedly spikes past the 4% mark, while the ECB might still deliver another hike. This interest rate dynamic favors the Euro over the Pound.
- Autumn Fiscal Jitters: Chancellor Andy Burnham’s upcoming budget this autumn is a looming risk. Potential changes to fiscal rules or surprise spending packages (like increased funding for social care) could quickly reignite concerns about UK debt.
The Forecast:
- EUR/GBP: Expected to climb towards 0.88 by year-end, pushing to 0.90 in 2027.
- GBP/USD: Projected to remain in a range of 1.32 to 1.36 as the US Fed potentially softens the Dollar.
