Azioni in rialzo dopo leggere l'inflazione in USA con il Medio Oriente al centro delle attenzioni

Stocks climbed on Wednesday as a weaker-than-expected U.S. inflation report eased investor worries, though tensions in the Middle East continued to cast a shadow over markets. The MSCI’s global equities index rose amid the unexpected decline in producer prices and strong corporate earnings, while oil futures dipped despite ongoing hostilities between the United States and Iran. The U.S. Labor Department’s Bureau of Labor Statistics reported that the Producer Price Index for final demand fell 0.3 percent in June, below economists' forecast of no change. This followed the release of consumer price data earlier in the week, both indicating a cooling trend in inflation ahead of the recent escalation in the Middle East conflict. The U.S. military launched a new round of strikes targeting Iran’s coastal defense systems and cruise missile facilities on Wednesday, following the reimposition of a naval blockade on Iranian ports. In response, Iran warned of further reductions in regional energy exports. These developments added to the uncertainty surrounding global energy markets, although they did not immediately derail the positive momentum in financial assets. Analysts noted that while the inflation data supported equity markets, investors remained wary of geopolitical risks, particularly given that June’s figures did not account for recent spikes in oil prices. Rick Meckler, a partner at Cherry Lane Investments, observed that the current market environment appears unusually resilient to negative news. He pointed out that investors are seemingly undeterred by the ongoing Iran-related tensions and the fact that recent inflation readings do not fully capture the impact of rising oil costs. “We’re in a market phase where bad news doesn’t seem to hurt the market and bad news that isn’t quite as bad as we thought it would be really helps the market,” Meckler remarked. This sentiment was echoed by the strong performance of major indices, bolstered by robust earnings reports from several key firms. Morgan Stanley reported a rise in second-quarter profits driven by increased activity in mergers and acquisitions. BlackRock also saw higher quarterly profits as gains in the stock market boosted client asset values. Meanwhile, Johnson & Johnson exceeded analysts’ expectations for both sales and profitability within the healthcare sector. These results contributed to a broader rally, with the Dow Jones Industrial Average gaining 0.33 percent, the S&P 500 rising 0.17 percent, and the Nasdaq Composite climbing 0.33 percent. European and Asian markets also posted gains, with South Korea’s KOSPI index surging over 6 percent and Japan’s Nikkei advancing 1.5 percent. Government bond yields in the U.S. declined as the easing inflation data reinforced expectations of a slower pace of interest rate hikes by the Federal Reserve. The yield on the 10-year Treasury note fell 3.57 basis points to 4.549 percent, marking the first consecutive days of declines in nearly three weeks. The 30-year bond yield also dropped, while the 2-year note yield fell sharply, signaling a shift in market sentiment toward patience on monetary policy. The dollar weakened against major currencies, with the euro rising slightly and the yen strengthening modestly. Oil prices fluctuated as traders assessed the evolving situation in the Middle East and the potential disruption to energy shipments through the Strait of Hormuz. U.S. crude fell 0.98 percent to $78.56 a barrel, while Brent crude dropped 1.1 percent to $83.80 per barrel. Spot gold prices edged lower, declining 0.11 percent to $4,048.79 an ounce. Despite these movements, the overall market remained buoyant, reflecting a mix of optimism over inflation trends and cautious anticipation of geopolitical developments.