Financial markets continued to digest the Federal Reserve’s decision to cut interest rates. Sovereign bond yields edged lower in the euro area and were stable in the U.S., while the dollar extended its recent weakening trend, leaving EUR/USD trading near 1.175. Futures markets continued to price in two rate cuts for next year, despite a seemingly divided FOMC.
Global equity performance was mixed. In Europe, major indices advanced following the Fed’s move, with the exception of Portugal’s PSI 20. In the U.S., equities were also mixed: large-cap tech stocks came under pressure amid renewed concerns about AI-related investment, while the broader market posted modest gains. The S&P 500 reached a fresh all-time high.
In commodities, Brent crude fell toward $61 per barrel on reports that Ukraine submitted a revised peace proposal to Washington, where President Trump reiterated the urgency of ending the war. Gold and silver extended their sharp rallies, both hitting new record highs and now up more than 63% and 115% year-to-date, respectively.
BANCO BPI, S.A., com sede na Avenida da Boavista, 1117, 4100-129 Porto; Capital Social: € 1 293 063 324,98; matriculada na CRC Porto sob o número de matrícula PTIRNMJ 501 214 534, como o número de identificação fiscal 501 214 534. Intermediário financeiro registado na CMVM com o n° 300 e no Banco de Portugal sob o código n° 10. Agente de Seguros n.º 419527591, registado junto da Autoridade de Supervisão de Seguros e Fundos de Pensões em 21/01/2019, e autorizado a exercer atividade nos Ramos de Seguro Vida e Não Vida.