The week starts weakly and will have as its key moment the decision of the Federal Reserve on rates, while the shares of companies linked to theartificial intelligence suffered a further decline after the top management of OpenAI e anthropic they asked a slowdown of development to manage risks and protect humanity, while OpenAi wants to postpone its stock market listing expected this year. The pressure is still on Petroleum due to new tensions in the Middle East. The stock markets Asian are down and those too europee are seen to open weak.
Oil prices hit $107 amid renewed attacks. Concerns about passage through the Straits of Hormuz and Bab el-Mandeb remain high.
The oil front is still in the spotlight, with the Brent still rising due to the new attacks against Saudi Arabia and against ships in the Gulf, while the Houthi they are approaching the Bab al-Mandeb, the other key channel for oil exports from the Middle East alternating with that of Hormuz. The in Oman between Iran and the Gulf Arab states, scheduled for Monday to discuss an agreement on the opening of the Strait of Hormuz, has been postponedAnalysts fear that oil prices could remain high for a long time, fueling inflation globally. This morning the futures of the Brent are up 2,5% at $107,18 a barrel, after gaining nearly 9% last week, while U.S. crude oil rose 2,6% to $102,62 a barrel.
Fed decision expected on Wednesday. Wall Street closed higher last week.
Il Fed FOMC will meet starting tomorrow and announce its decision on interest rates Wednesday. For years, inflation has consistently remained above the annual target ofl 2% set by the Fed and following the speech given last month by the new president, Kevin Warsh, widely perceived as hawkish, has seen increased bets, now at 72%, on a possible rate hike of a quarter of a percentage point. Betting increased on Friday after data showed consumer price inflation accelerated in August. The impact on bond yields is under scrutiny, with 10-year Treasuries approaching the 5% level, while the credibility of the Fed and Warsh could be at risk.
Friday Wall Street closed higher. The index S & P 500 rose by 0,86%, closing the session at 7.656,98 points.
Il Nasdaq gained 0,96%, reaching 26.333,04 points, while the Dow Jones The Industrial Average rose 0,98% to 52.573,29 points amid relatively light trading volume. The S&P 500 Index is down about 2% from its all-time high reached on August 13, but remains on track to rise 12% through 2026. Over the past week, the S&P 500 Index has fallen 0,8%, and the Nasdaq has lost 0,7%.
In the field of artificial intelligence, it is worth mentioning the 12% jump di Dell e Hewlett Packard Enterprise reaching an all-time high and the rise of HP 8,4% after the announcement of quarterly results by Oracle infrastructures which beat estimates. Oracle itself, however, recorded a 1,8% decline.
Asia plunges, driven by AI stocks. OpenAi postpones listing.
Asian stock markets are falling, dragged down by AI titles and fears of oil supplies in the Middle East. Kospi South Korea's AI investment index, a barometer of investment in AI, saw a 3,2% decline amid rumors of a slowdown in AI development. The CEO of OpenAI, Sam Altman, said the company will not go public this year. Chipmakers SK Hynix Inc. and Samsung Electronics Co. lost 4,5 percent and 6,7 percent, respectively, in Seoul. The broader index MSCI Asia-Pacific stocks fell 1,1%, while blue chips Chinese by 0,5%. Nikkei Japanese fell 1,0% and Softbank Group suffered a drop of up to 13% in Tokyo.
The yields ofgovernment bonds U.S. 10-year yields remained stable at 4,973% after being sold off sharply in recent weeks. Last week alone, two-year yields soared 26 basis points, while 10-year yields gained 19 basis points, reflecting the flattening of the yield curve.
Il dollar rose slightly to 153,98 yen, after falling about 4% over the past two weeks and moving away from its July peak of 163,99. Theeuro fell 0,2% to $1,1565, testing support around $1,1560. The GBP weakened to $1,3505 ahead of the rate decision. Bank of England Thursday.
In the commodity markets, the'gold lost 0,4% to $4.329 an ounce, as rising bond yields reduced the attractiveness of the non-interest-bearing metal.
European stock markets are expected to open slightly lower. At Piazza Affari, attention will be on the banking risk and on Poste Italiane.
European stock markets are expected to open slightly lower this morning, based on Eurostoxx 50 futures trading at -0,3%.
Banking risk. Neither MPS nor Generali would be forced to sell their respective cross-shareholdings if the Lion found itself with a stake of around 6% in MPS following the offer launched by the bank for Banca Generali, he declared to La Repubblica MPS CEO Luigi Lovaglio stated that the bank has sought legal advice and that the requirement to reduce its stake below 3% would not apply if Generali received shares in an exchange offer, rather than purchasing them on the market. Lovaglio also ruled out any dismemberment of Banco BPM if the takeover bid were successful, adding that the transaction could open up partnership opportunities for Crédit Agricole, Banco BPM's largest shareholder.
UniCredit is reportedly considering a reverse merger between HVB and Commerzbank to meet Berlin's request to leave Commerzbank listed, according to Milano Finanza
RecordatiCVC is facing a shareholder protest over an attempt to delist the Milan-listed pharmaceutical group at a valuation investors consider too low, the Financial Times reported. Some shareholders have written to Recordati's board of directors, arguing that CVC's takeover bid at €51,29 per share undervalues the Italian pharmaceutical company and is structured to pressure minority shareholders into participating in the offer.
Poste Italiane It reached 66,63% of Telecom Italia's capital following the closing of the public tender offer launched by the state-controlled group. The offer will reopen from September 21st to 25th.
Stellantis will invest more than 1 billion euros to build vans in France, writes Bloomberg News.
AmplifonThe hearing aid manufacturer will be included in the MIB ESG Index, the stock exchange index that identifies the 40 Italian companies with the best sustainability performance, starting Monday, September 21, while Iveco Group will be leaving.
