Early Morning Reid

Global equities were buoyed by a surge in semiconductor stocks and Iran deal hopes, pushing the S&P 500 to record highs. However, hawkish ECB comments and sticky inflation data in Australia tempered bond market sentiment.

Key Takeaways

• 1.Memory chip fever continues to drive massive gains in Asian and US tech stocks, with SK Hynix and Micron both surpassing trillion-dollar market caps.
• 2.The S&P 500 reached a new record high of 7519, though market breadth remains narrow with only half of the constituents advancing.
• 3.Potential for a US-Iran deal is creating volatility in oil markets; Brent crude reversed half of its previous declines as optimism about an imminent deal cooled.

Table of Contents

• Key Market Data
• Other Market Data
• Key Economic Data
• Topical Deutsche Bank publications
• Analyst Certification
• Important Disclosures
• Additional Information