LiveWire

S&P 500 futures have dipped under their 50-day moving average, which could potentially mark the start of a trend change. Will the correction be coming soon? and if yes, of what extent will it be? Source: the Daily Shot

The chaos in the energy sectors, with futures climbing to sky-high levels, is deepening worries about the recovery in Europe. Many short-term prices are trading at multiples of their usual levels and many longer-term prices are sharply higher. Most households are experiencing higher bills while some countries are trying to set up plans to diminish the impact on consumer's budgets. Source: Bloomberg

The operating profit margin (the net income divided by sales), tells us how much a company makes on a dollar of sales. The ratio reached an all-time high for the global S&P 500, peaking at 13.5% in the second quarter. Source: Compound

Putting the Archegos problems aside, in aggregate, the top 12 banks saw first half equities trading revenues surge 42% to $32 billion, which is its best in a decade. French banks bore the brunt of the turmoil created by the pandemic in 2020 as firms canceled dividends, which hit the banks' structure derivative business. The French banks' recovery in the second quarter was a key driver of equities revenue growth in Europe. @S&PGlobal

The recent spike in volatility seen in Europe and also the DAX are not exactly looking like they will calm down any time soon. With Germany heavily exposed to China, we look at the Chinese manufacturing PMI vs German IFO to show that the the German momentum is not overly promising ahead of the Evergrande situation still unfolding. @TME