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Markets Update: European equities achieved record highs, driven by robust earnings reports and a preliminary U.S.-Ukraine minerals agreement. The House forwarded Trump's tax cut proposals to the Senate. Nvidia's earnings are eagerly awaited.
Global Markets Roundup: 26 Feb 2025
Equity Markets
European shares reached record highs on Wednesday, buoyed by a preliminary U.S.-Ukraine agreement on critical minerals and strong corporate earnings reports. Global markets also saw gains, with U.S. Treasury yields edging higher following a previous decline. The U.S. dollar strengthened after House Republicans advanced President Donald Trump's tax cut proposals.
U.S. copper prices increased following President Trump's directive to investigate copper imports. Wall Street performed well ahead of the highly anticipated earnings announcement from AI chipmaker Nvidia (NVDA).
Market sentiment was further bolstered by reports of a draft minerals agreement between the U.S. and Ukraine. European indices continued their upward trend, with the STOXX 600 reaching a new high, and significant gains observed in the blue-chip indices of Frankfurt (DAX), Paris (PX1), and London (UK100).
On Wall Street, the Dow Jones Industrial Average (DJI) increased by 211.70 points, or 0.49%, to 43,834.33. The S&P 500 (SPX) rose by 41.19 points, or 0.70%, to 5,996.73, and the Nasdaq Composite (IXIC) climbed 176.96 points, or 0.94%, to 19,204.88. Emerging market stocks (CBOE:EFS) also experienced an uptick, rising by 13.04 points, or 1.16%.
Currencies
The dollar index DXY, which evaluates the currency against six major others, increased by 0.2%. Meanwhile, the euro EURUSD decreased by 0.18%, settling at $1.0494.
Commodities
In the commodities market, oil prices remained near two-month lows. Brent crude oil futures (BRN1!) decreased by 0.08% to $72.96 per barrel, while U.S. West Texas Intermediate (WTI) crude (CL1!) slightly increased by 0.02% to $68.98 per barrel.
Meanwhile, spot gold (GOLD) declined by 0.16%, following a 2% drop in the previous session.
Looking forward refer to the economic calendar below to see the upcoming events scheduled for today and the rest of the week.
General news - Information source from multiple newswires.
The article and the data is for general information use only, not advice!
The Trade Academy Team