Investors traded cautiously in Thursday's session. Nvidia's leadership crisis dragged AI and semiconductor equities down (its CEO Jensen Huang resigned yesterday), weighing on the main U.S. benchmarks. Also, oil and gas prices rose amid heightened tensions in the Middle East.
European equities were comparatively resilient and closed marginally higher. In fixed-income markets, German sovereign yields rose moderately amid higher energy prices and a jump in U.S. yields, and peripheral spreads were mixed (roughly stable in Spain and Portugal while ticking up in Italy and France).
U.S. sovereign yields jumped markedly as investors priced a more hawkish Fed (the end-2027 implied effective fed funds rate in futures markets rose to ca. 4.75% from 4.62%). In FX markets, the U.S. dollar edged modestly higher while the yen, the euro and sterling softened.
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.