Global equities were buoyed by a surge in semiconductor stocks and Iran deal hopes, pushing the S&P 500 to record highs. However, hawkish ECB comments and sticky inflation data in Australia tempered bond market sentiment.
Key Takeaways
- 1.Memory chip fever continues to drive massive gains in Asian and US tech stocks, with SK Hynix and Micron both surpassing trillion-dollar market caps.
- 2.The S&P 500 reached a new record high of 7519, though market breadth remains narrow with only half of the constituents advancing.
- 3.Potential for a US-Iran deal is creating volatility in oil markets; Brent crude reversed half of its previous declines as optimism about an imminent deal cooled.
Table of Contents
- Key Market Data
- Other Market Data
- Key Economic Data
- Topical Deutsche Bank publications
- Analyst Certification
- Important Disclosures
- Additional Information
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Authors
Jim ReidHenry AllenPeter Sidorov, CFAAsim Kaul
Securities
SPXSK HynixMUBrent OilOfficial Cash Rate (OCR)
Themes
Central Bank Hawkishness and Inflation StickinessGeopolitical Volatility in the Middle EastSemiconductor Mania / Memory Chip Fever
Regions
North AmericaAsia PacificEuropeUnited StatesSouth KoreaAustralia