10/08/2026 Daily Reports
Global markets enter the new week with a cautiously positive tone after a weaker-than-expected U.S. jobs report reduced expectations for an imminent Federal Reserve rate hike. Asian equities followed Wall Street higher, with Japan’s Nikkei gaining around 2%, while U.S. stocks closed near record highs. Attention now turns to the upcoming U.S. July CPI report, which could determine the next move in rate expectations.
In fixed income, U.S. Treasury yields remain elevated, with the 10-year yield around 4.66–4.67%, limiting the upside in risk-sensitive assets. The dollar weakened following the softer labor-market data, while gold held near $4,340 as lower rate expectations and a softer dollar supported demand for precious metals. Silver also strengthened sharply after the jobs report.
Oil prices moved higher as uncertainty surrounding the Strait of Hormuz and U.S.-Iran developments remained in focus. Brent crude rose around 1% to approximately $84.40, keeping inflation and energy-supply risks on the radar for global markets.
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- Nasdaq. Wall Street closed at record highs on Friday after a soft US jobs report reduced the perceived risk of a near-term increase in borrowing costs. Nonfarm payrolls declined by 23,000 in July against expectations of an 86,000 gain, the first monthly drop since February, while unemployment fell to 4.1%; combined May and June figures were revised down by 103,000. The implied probability of a quarter-point Fed hike in September fell to 42% from 55% the prior day. Nasdaq futures were little changed on Monday after a 5% weekly advance. The July CPI is due 12 August and PPI on 13 August.
- DAX. The index closed 0.7% higher at 26,355 on Friday, a record high and a 2.8% weekly gain, supported by earnings and stronger-than-expected German industrial production and export data. SAP rose 4.1% and Infineon 2.9%, while Daimler Truck fell 2.8%; Munich Re declined 1.4% despite a 6% rise in net profit, and Allianz slipped 0.6%. DAX futures were down 0.1% ahead of Monday’s European open.
- Nikkei. The index rose 0.6% on Monday, tracking Wall Street, while South Korea gained 0.5%. It had closed Friday down 0.12% at 65,607 amid technology weakness, with Japanese household spending falling 3.3% in June against expectations of a 1% increase. The Bank of Japan’s July meeting summary showed the board split on the pace of rate hikes as inflation approaches the 2% target.
- Brent. Brent traded above $84 on Monday, a third consecutive session of gains. Iran said weekend talks with Oman on Hormuz shipping lanes were near agreement but warned this would not mean immediate reopening, rejected direct US talks for now, and maintained demands covering the naval blockade, sanctions and compensation. Houthi forces claimed an attack on Saudi Arabia’s Jazan refinery, and an ADNOC-operated tanker was attacked in Hormuz. Citi raised its Q3 Brent forecast to $80 from $75.
