Daily Index Insights offers a concise two-minute read on the latest news and trends in index markets. This resource includes performance data from S&P Dow Jones Indices across equities, fixed income, multi-asset, commodities, and factors. Our daily insights are designed to provide you with a comprehensive understanding of market movements, empowering you to make informed decisions based on the most current indices data and analysis.
“Always do sober what you said you'd do drunk. That will teach you to keep your mouth shut.”
Ernest Hemingway (July 21, 1899 – July 2, 1961)
40 years ago today, a French farmer from Brittany raised his hands in triumph on Paris’ Champs-Élysées to claim victory at the 72nd Tour de France. It was the last of Bernard Hinault’s 5 titles, and the last for the host nation, their longest hiatus in the 120-year history of the race. The French dry spell is certain to continue this year when the race concludes on Sunday, as best-placed Frenchman Kevin Vauquelin sits over 10 minutes behind Slovenia’s Tadej Pogacar, who is safely on track for his fourth overall title. here is your daily dashboard.
- The S&P 500® was little changed on Friday to close the week up 0.6%. Information Technology led gains among large cap segments, up 2.1%, while Energy had a dismal week, down 3.8%.
- Energy’s decoupling from the rest of the S&P 500® came after several months of close co-movement: having averaged over 0.78 in Q2, the 60-day correlation between S&P 500 Energy and S&P 500 Ex-Energy has fallen to 0.26, close to the 0.29 average over the past two years.
- Meanwhile, in Japan, the ruling LDP-Komeito coalition lost its majority in the upper house after the weekend’s election. Worries about domestic political instability might have been among the reasons that held back Japanese stocks recently: having led the Pan Asia Ex-Japan BMI as recently as mid-June, the S&P Japan BMI has been lagging since; it is the worst performing among S&P Developed BMI regions this month with a drop of 3.3%.
- And finally: we’ve seen some wild moves in the prices of morning beverages this month. The threat of a 50% tariff on Brazil was blamed for a 42% surge in Orange Juice prices, but, curiously, the price of Coffee, another major Brazilian export, barely budged. Your hot chocolate may, on the other hand, become cheaper: cocoa prices plunged 13% so far in July.
Cheers!
