Weekly Market Overview:
August 11-15
August 11-15
The US stock market closed Monday's trading lower. At closing time on the New York Stock Exchange, the Dow Jones index fell 0.45%, the S&P 500 index fell 0.25%, and the NASDAQ Composite index fell 0.30%. Treasury 10-year yields decreased 1 basis points to 4.279%. Gold futures fell 2.48% to $3405. Crude oil Brent futures rose 0.06% to $66.63. Of the 11 S&P sectors 7 ended in the red. Energy was the weakest, while Consumer Defensive topped the gainers.
Nikkei looks to rejoin the all-time high club. The Nikkei still only has a PE of 19, compared with 22 for the S&P 500 and almost 33 for Nasdaq, which is essentially a premium for AI. It would seem to be negative news, then, that Nvidia and AMD have agreed to give the U.S. government 15% of revenue from sales to China of AI chips in return for export licenses. For the dollar and bonds, the main economic event will be U.S. consumer prices on Tuesday, where the impact of tariffs could nudge the core up 0.3% to an annual pace of 3.0% and further away from the Federal Reserve's target of 2%.
Carry Traders Ramp Up Bets in Emerging Markets as Fed Cuts Loom. Money managers from Neuberger Berman Group LLC to Aberdeen Group Plc. are piling into currencies from Brazil, South Africa and Egypt, saying a weaker greenback and easing volatility make the environment ripe for the strategy, in which traders borrow in lower-yielding currencies to buy those that offer higher yields. Trump’s erratic policies have left traders scrambling to diversify their holdings, sending the US Dollar Index to its worst first half of the year since the 1970s.
Russians are stocking up on cash due to problems with the internet and limits on cash withdrawals. Citizens fear new monitoring of cash transactions within the country. The growth in cash in circulation has led to an outflow of 200 billion rubles from the banking system. According to Central Bank statistics, as of July 1, 2025, the Russian population held 15.9 trillion rubles in cash. In early April 2025, a law was passed that will require banks to conduct checks when dispensing cash through ATMs. This law allows banks to impose a limit on citizens' cash withdrawals of up to 50,000-100,000 rubles per day. The Central Bank noted that this is necessary to combat fraudsters.
Chinese firm behind $600 million waste-to-energy project registers AIFC subsidiary. Junxin Environmental Protection (Kazakhstan) was registered in the AIFC on Aug. 7. Its owners are Hunan Junxin Environmental Protection and a Hong Kong company with a similar name. The company is managed by Dai Daoguo, chair of the parent company. In China, the company operates the Heimifeng Solid Waste Treatment Center in Changsha, which processes 10,000 tons of waste each day and generates more than 1.4 billion kilowatt-hours of electricity per year.
The US stock market closed Tuesday's trading higher. At closing time on the New York Stock Exchange, the Dow Jones index rose 1.10%, the S&P 500 index rose 1.13%, and the NASDAQ Composite index rose 1.39%. Treasury 10-year yields increased 2 basis points to 4.29%. Gold futures fell 0.17% to $3399. Crude oil Brent futures fell 0.77% to $66.12. All the 11 S&P sectors ended with the gain. Communication Services topped the gainers.
S&P 500, Nasdaq end at record closing highs as moderate inflation lifts rate hopes. The Labor Department said the Consumer Price Index (CPI) rose 0.2% on a monthly basis in July, while annual inflation came in slightly below forecasts, drawing calls from U.S. President Donald Trump to lower interest rates. Relief came as the U.S. and China extended their tariff truce until November 10, staving off triple-digit duties on each other's goods.
Swiss Likely to End Property Tax, Hit Chalets With New Levy. Switzerland is likely to scrap a century-old tax on real estate and introduce a new levy that will target second homes — such as mountain chalets — to offset any budget shortfalls. A government proposal, which will go to a national vote next month, would end the practice of owner-occupiers paying tax on the theoretical rent they could earn from their property on the open market.
Ozon Bank is entering the payment terminal market. The full launch of payment devices is scheduled for fall 2025. The bank's main goal is to connect sellers from the marketplace and provide them with comprehensive services, including lending. At the same time, acquiring may be provided at a loss if the overall profitability per customer remains positive. According to data from the Bank of Russia, the total number of payment terminals in the country at the end of the first quarter was 4.9 million, an increase of almost 10%.
A plant for the production of alfalfa feed is being built in the North Kazakhstan Region. The total cost of the project is approximately 5 billion tenge. The project is being implemented by Salar Farm LLP with the support of Saltustik Agricultural Production Cooperative. The plant is scheduled to start operations in spring 2026. The plant will implement a complete alfalfa processing chain: artificial hay drying, baling, and granulation. "The advantage of alfalfa is its high protein content. It is a premium feed that we plan to export to China and the UAE. The plant's design capacity will be 60,000 tons of finished products per year.
The US stock market closed Wednesday's trading higher. At closing time on the New York Stock Exchange, the Dow Jones index rose 1.04%, the S&P 500 index rose 0.32%, and the NASDAQ Composite index rose 0.14%. Treasury 10-year yields decreased 6 basis points to 4.24%. Gold futures rose 0.27% to $3408. Crude oil Brent futures fell 0.74% to $65.63. Of the 11 S&P sectors 3 ended in the red. Consumer Defensive was the weakest, while Healthcare topped the gainers.
World equities hit record highs, US yields fall on optimism for Fed rate cut. An index of global equity markets rose to a record high for the second straight session on Wednesday, partly underpinned by bullish sentiment on Wall Street as investors positioned for a likely interest rate cut from the U.S. Federal Reserve. Traders are pricing in a nearly 94% chance of a Fed cut in September, up from about 57% a month ago, according to the CME FedWatch tool.
Crypto Firm Bullish Raises $1.1 Billion in IPO Priced Over Range. The digital-asset exchange operator and owner of media outlet CoinDesk sold 30 million shares Tuesday for $37 each. They were earlier marketed at $32 to $33 apiece. The IPO was more than 20 times oversubscribed. Bullish, which counts former New York Stock Exchange president Tom Farley as its chief executive officer, offers crypto spot trading, margin trading and derivatives trading, with a focus on institutional investors.
AIX has launched a spot ETF on Bitcoin. This instrument is backed by physical Bitcoin held by a licensed custodian. The fund aims to accurately track the price of the asset with a management fee (0.75%). The fund is available to both qualified and unqualified investors, and its assets are held by BitGo Trust.
Kazakhstan to assemble Chinese HOWO trucks. A HOWO truck production facility is set to be established in the city of Saran in the Karaganda region. The Chinese heavy-duty truck manufacturer Sinotruk has joined the Kazakh company Saran Machinery. The plant is expected to produce up to 10,000 commercial and specialized vehicles annually. It will also be equipped with a modern cataphoretic metal coating line — the first of its kind in Kazakhstan — a technology that protects vehicle bodies from corrosion and extends their lifespan.
The US stock market closed Thursday's trading with mixed results. At closing time on the New York Stock Exchange, the Dow Jones index fell 0.02%, the S&P 500 index rose 0.03%, and the NASDAQ Composite index fell 0.01%. Treasury 10-year yields increased 6 basis points to 4.29%. Gold futures fell 0.74% to $3383. Crude oil Brent futures rose 1.84% to $66.84. Of the 11 S&P sectors 8 ended in the red. Industrials was the weakest, while Healthcare topped the gainers.
Belgium's top index breaks 18-year-old record, capping slow recovery from 2008 crisis. France and Germany broke their pre-financial crisis records after 14 and five years, respectively, while Belgium needed nearly two decades to do it. The country also lacks the industrial and business powerhouses that have driven growth in neighbouring countries.
China New-Home Prices Drop as Stimulus Fails to Halt Slide. China’s housing slump has dragged on for more than four years, with sales falling further since the second quarter. Calls for additional policy support have grown as the effects of a stimulus blitz last September wear off. China is preparing to mobilize companies owned by the central government to purchase unsold homes from distressed property developers.
The St. Petersburg Exchange has planned to launch a DFA platform. Entering the digital financial assets (DFA) market will enable the exchange to implement new monetary instruments. The St. Petersburg Exchange is Russia's largest commodity exchange. It handles 99% of the country's organized trading in oil and oil products, petrochemicals, gas, coal, timber, metals, construction materials, agricultural products, and mineral fertilizers.
UAE’s Presight to launch surveillance project in Astana this December. the total cost of the Presight project stands at 93.2 billion tenge. Of this amount, 53.5 billion tenge will be allocated for installing new cameras and upgrading existing infrastructure and 39.7 billion tenge for their maintenance over five years, through 2030. The administration emphasized that the project will be financed entirely by the international partner.
The US stock market closed Friday's trading with mixed results. At closing time on the New York Stock Exchange, the Dow Jones index rose 0.08%, the S&P 500 index fell 0.29%, and the NASDAQ Composite index fell 0.40%. Treasury 10-year yields increased 4 basis points to 4.33%. Gold futures fell 0.02% to $3378. Crude oil Brent futures fell 1.48% to $65.85. Of the 11 S&P sectors 8 ended in the red. Financial was the weakest, while Healthcare topped the gainers.
Russia decree opens door for Exxon return to Sakhalin-1 project. Russian President Vladimir Putin on Friday signed a decree that could allow foreign investors, including top U.S. oil major Exxon Mobil to regain shares in the Sakhalin-1 oil and gas project. Trump will meet Ukrainian President Volodymyr Zelenskiy and European leaders on Monday to strike a quick peace deal to end Europe's deadliest war in 80 years. Exxon took an impairment charge of $4.6 billion to exit its Russian business after Moscow sent troops into Ukraine in February 2022.
ADX Welcomes Thndr as Its First Remote Retail Trading Member. Leading MENA investment platform Thndr will give users access to stocks, ETFs, and other asset classes listed in the United Arab Emirates, which will expand opportunities available to local retail investors. In 2024 alone, Thndr recorded over $13 billion in trading value and executed 12 million trades. With more than four million downloads, access to three markets – the UAE, Egypt, and the U.S. – and a wide range of asset classes, including stocks, gold, mutual funds, and savings products, Thndr is building a true investment one-stop shop.
British lawyers charge up to £4 million for working with Russians under sanctions. The increase in the fee limit has brought Russian clients back to London courts. Previously, there was a limit of £500,000 for each of the two periods — before and after the sanctions were imposed — and compensation for unlawful sanctions could not exceed £10,000.
Kazakh ice cream producer weighs exports to Vietnam and South Korea. Currently, Shin-Line’s export geography spans 10 countries: Russia, Belarus, Kyrgyzstan, Uzbekistan, Turkmenistan, Mongolia, Tajikistan, Azerbaijan, Georgia and China. In 2025, the company aims to increase export volumes from 10,000 to 14,000 tons. Notably, the company plans to enter the market of Saudi Arabia this year.