Wed 8 Oct: After the Bell🔒

🎙️📄+ Market Data -> Equities rally, FOMC minutes, ¥ drops, Palladium, Cocoa, First Brands ...

See the ‘Market Data’ post for tables & charts.↗

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Good evening,

Stocks on Wall Street and Europe rallied on Wednesday, driven by optimism from the Federal Reserve minutes’ dovish tone, boosting risk appetite across equities. The S&P 500 and Nasdaq are again at all-time highs. The tech sector gained on renewed momentum in AI chip stocks due to the recent mega-deals, also fueling investor enthusiasm. Despite the ongoing government shutdown, market confidence remained resilient, showing little impact.

The $ index advanced mainly on the back of a weaker ¥. This combination of Fed dovishness and tech sector strength shaped today’s positive market sentiment.

Japan’s stock market reached record highs this week following the appointment of a new prime minister, with the Nikkei 225 index accumulating a 20% gain this year. The rally is attributed to expectations of increased fiscal stimulus and a continuation of loose monetary policies. The ¥ weakened to a seven-month low against the dollar, dropping to 153, as markets anticipate sustained dovish policies.

Commodities: A notable mover today was Palladium, with a 9% rally to $1,500 as investors seek alternative trades to gold and growing market concerns over potential sanctions on Russian exports.

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