- Macro: It was a very weak day for markets with the S&P 500 and the Nasdaq both in the red, as Nvidia fell sharply, taking the SOX semis index down -8%. This follows news that US Justice Department sent subpoenas to Nvidia and other companies, seeking evidence that the chipmaker may have violated antitrust laws. Earlier in Europe the Stoxx 600 broad index was down by 1%. Later this morning, we get services and composite PMIs out of UK, France, Germany and the Eurozone. July EU PPI is reported at 10am. Irish unemployment rate is at 11am, over in the US MBA mortgage application data is at 12pm, Trade Balance at 1.30pm, Jolts Job openings, and final July Factory and Durable Goods Orders at 3pm, then later in the evening the Fed’s Beige book and Wards Total Vehicle sales are released.
- Stock: We have earnings updates from both Cairn Homes and Dalata.
- Debt: Core bond yields moved lower yesterday driven by US PMI data.
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