BrewBrief — The Daily Stock Market & Crypto Briefing
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Today
Mixed Equities With Crypto Gains and Extreme Fear
Global equity indices posted modest changes including a 2.82 percent rise in the Nikkei 225. Cryptocurrencies advanced while the Fear and Greed index registered extreme fear at 25.
✦Nikkei 225 rose 2.82 percent while other Asian indices remained flat.
✦European markets opened with DAX up 0.06 percent and FTSE down 0.71 percent.
✦Cryptocurrency market advanced led by ADA at plus 5.03 percent.
✦Commodities saw gold up 0.86 percent and silver up 1.83 percent.
✦Fear and Greed index read 25 indicating extreme fear in crypto.
✦Ten year treasury yield stood at 4.60 percent described as elevated.
News
Economy
Central banks in Europe and Asia held or signaled steady policy rates over the last day amid ongoing inflation monitoring. The People's Bank of China left its benchmark lending rates unchanged for a 14th consecutive month, while the ECB is widely expected to hold its key rate at 2.25% at this week's meeting following June's 25 basis point increase. Markets have priced in two ECB rate hikes by early 2027 as oil price swings contribute to inflation concerns, with Eurozone CPI indicators tracking slightly below the ECB's baseline forecast.
PBoC kept one-year LPR at 3.0% and five-year LPR at 3.5% for the 14th straight month.
ECB deposit facility rate stands at 2.25% with no change anticipated at Thursday's meeting and no new macroeconomic projections.
Money markets fully price two additional ECB hikes by early 2027, lifting the deposit rate to around 2.73% by then.
Stocks
The Q2 2026 earnings season has started on a positive note with total earnings for the 49 S&P 500 members that have reported growing 48.7%. Asian markets showed recent volatility with the Nikkei posting a 1.2% gain in one session to around 68,557 while European indices like the DAX closed the July 20 session at 24,861.67, up 32.32 points. Major reports are due this week including from Alphabet and Tesla, with Novartis and Charles Schwab among those scheduled for July 21.
S&P 500 Q2 earnings grew 48.7% for the 49 companies that reported so far
DAX closed July 20 at 24,861.67, up 32.32 points
Nikkei rose 1.2% in a recent session to 68,557.73 amid ongoing earnings focus
Politics
The EU is struggling to reach consensus on its 21st sanctions package against Russia, with Germany, France, Greece, Italy, Austria and Portugal raising objections or seeking exemptions over economic impacts. A senior EU official stated that US President Trump's 15% tariffs have had negligible effect on European exports overall, with US importers primarily footing the bill. In the Middle East, the US conducted its ninth consecutive day of strikes on Iranian command centers, maritime capabilities, missile sites and communications networks amid ongoing tit-for-tat attacks.
EU members Germany, France, Greece, Italy, Austria and Portugal have delayed the 21st Russia sanctions package targeting banks, shadow fleet vessels and over 250 individuals and entities
Senior EU official confirmed Trump's 15% tariffs imposed on European goods have not significantly impacted EU exports as a whole
US Central Command completed ninth straight evening of strikes on Iranian targets following deaths of US service personnel and attacks on Strait of Hormuz shipping and Kuwait oil facility