Dear Copytraders,
US stocks: July has been a month of rotation rather than broad market weakness. While the S&P 500 continues to trade close to all-time highs, technology and semiconductor stocks have come under pressure as investors questioned whether the pace of AI-related capital expenditure can continue to justify current valuations. At the same time, financials, healthcare and defensive sectors have attracted fresh inflows, highlighting a healthier and broader market leadership.
Inflation & policy: The Federal Reserve is widely expected to leave interest rates unchanged at 3.50–3.75% at this week's meeting. However, recent geopolitical events and higher energy prices have increased inflation concerns, pushing Treasury yields close to multi-year highs. Markets are now focused less on when rate cuts will arrive and more on whether another hike could become necessary if inflation accelerates again.
Global markets: Geopolitics has dominated the second half of July. Rising tensions between the U.S. and Iran initially sent Brent crude close to $100/barrel, reigniting inflation fears and increasing market volatility. Following signs of de-escalation, oil prices retraced toward the high-$80s, helping equities stabilize. Gold remains well supported above $4,000/oz as investors continue to seek protection from geopolitical uncertainty, while Bitcoin has recovered to around $64,000, benefiting from improving risk sentiment.
Italy & Europe: European equities have shown resilience despite geopolitical headwinds. The STOXX Europe 600 recovered as softer U.S. inflation data temporarily eased concerns over additional monetary tightening. The ECB remains cautious, while Germany's manufacturing sector continues to weigh on the Eurozone outlook. Italy continues to benefit from resilient domestic demand and ongoing investments linked to the PNRR, although higher energy prices remain a key risk for the second half of the year.
Stay focused, stay profitable!
#LongTermIsTheKey... Show More
Not investment advice. The author may have financial interests in the mentioned instruments.
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