S&P 500 — US Large Cap Index
FTSE 100 — UK Blue Chips
Euro Stoxx 50 — Eurozone Leaders
DAX 40 — German Equities
CAC 40 — French Market Index
Nikkei 225 — Japan Benchmark
Hang Seng — Hong Kong Index
Shanghai Composite — China Mainland
ASX 200 — Australian Market
TSX Composite — Canada Index
Nifty 50 — India Large Cap
STI Index — Singapore Market
KOSPI — South Korea Index
Bovespa — Brazil Equities
JSE Top 40 — South Africa Index
IPC Index — Mexico Market
Deutsche Bank strategists note that equities rebounded as a sharp decline in long-end US Treasury yields helped the S&P 500 end a three-day losing streak. Strong gains in Moderna and Merck further supported the market through a surge in healthcare stocks, offsetting renewed weakness in semiconductors, while the positive tone extended into Asian trading even as European equities lagged.
Equities rebound on yield relief
“For equities, the last 24 hours have seen a relatively better performance, with the S&P 500 (+0.21%) finally ending a run of 3 consecutive declines. That was primarily driven by the sharp decline in long-end yields, and S&P 500 futures saw a clear move higher following the US Treasury’s announcement.”
“On top of that, there were huge gains for Moderna (+176.97%) and Merck & Co. (+12.60%) after they announced successful trial results for a skin cancer vaccine, which led the S&P 500 healthcare sector (+3.52%) to its best day since April 2025.”
“In fact, US equities would have seen an even stronger performance were it not for a fresh decline in chip stocks, with the Philly semiconductor index (-2.12%) losing ground again.”
“That positivity has also been clear overnight, with S&P 500 futures up another +0.17%, whilst the major indices in Asia have also moved higher. That includes a sharp bounceback for the KOSPI (+6.25%), alongside gains for the Nikkei (+1.18%), the Hang Seng (+1.14%), the Shanghai Comp (+0.28%) and the CSI 300 (+0.21%).”
“Earlier in Europe, markets didn’t do as well as their US counterparts, as they didn’t directly benefit as much from the US Treasury announcement, and were more exposed to the latest gain in energy prices. So equities struggled, and the STOXX 600 (-0.11%) posted a 6th consecutive decline for the first time since 2023.”
