The Swiss Market Index (SMI) was indicated higher in pre-market trading on Wednesday, with all constituent stocks expected to rise. The index was up 0.2% at Julius Bär to 14,555 points, while IG Bank projected a 0.14% gain to 14,552 points. Among the largest SMI components, Amrize, Kühne+Nagel and Logitech were each seen 0.6% higher, with the remaining gains ranging from 0.13% to 0.4%. The broader Swiss equity market was also firmer, with a pre-market advance of about 0.1%. The widest individual moves included a 3.6% rise for Stadler Rail, a 2.1% gain for SoftwareOne and declines of 2.2% for Cosmo, 3.9% for DocMorris and 1.4% for Tecan.
Corporate earnings from Intershop, Gurit, SoftwareOne, Stadler Rail and Raiffeisen were also in focus. SoftwareOne and Stadler Rail had already reported results. Gurit’s figures were due later in the session.
Gold prices eased 0.3% to $4,642.74 per ounce, retreating from a three-month high reached the previous day. U.S. gold futures were up 0.1% at $4,700.70 per ounce. Investors reduced exposure ahead of the July personal consumption expenditures (PCE) price index, the Federal Reserve’s preferred inflation gauge, due later on Wednesday. A speech by Fed Governor Kevin Warsh at the Jackson Hole symposium on Friday was also a key focus for precious-metal traders.
The European Stoxx 600 was indicated 0.12% higher in pre-market trading, while the German Dax was seen down 0.1%. Asian equities were mixed, with the Nikkei 225 up 0.6% at 66,227.55 and the Shanghai Composite gaining 0.9%. Brent crude fell for a third consecutive session, down 2.5% to $86.35 per barrel, while U.S. West Texas Intermediate (WTI) dropped 2.4% to $80.39 per barrel. The Brent decline followed reports that Iran would resume talks with Oman regarding the Strait of Hormuz, easing supply disruption risks. The U.S. dollar was 0.1% lower against the yen at 158.97 and down 0.1% versus the Swiss franc at 0.8024. The euro was little changed at $1.1669 and up 0.1% at 0.9364 francs.
In New York, the Dow Jones Industrial Average closed 0.30% higher at 53,577.40, the S&P 500 rose 0.32% to 7,677.28 and the Nasdaq 100 advanced 0.64% to 29,209.23. The gains followed a mixed start to the week, with oil prices and Treasury yields providing support. Nvidia shares rose 2.2% ahead of its after-hours earnings report, extending a rebound from recent losses. AMD and Marvell Technology each gained nearly 5%, while Moderna surged 14% on continued volatility tied to its melanoma vaccine trial. Merck & Co also hit record highs with a 3.8% advance. In contrast, Dick’s Sporting Goods slumped 31% after lowering guidance due to weak performance at its Foot Locker acquisition, pulling Nike down 3.1% as the sector’s largest component.
