Daily Market Updates – August 10

Market Updates, Daily Market Updates / PhillipCapital DIFC Research Team

10 August 2026 – Daily Market Updates Daily Market Brief: Gold Glitters, Equities Steady, Eyes on Inflation Market at a glance US equity futures: fractionally higher as investors await key inflation data Europe: broadly flat, with cyclicals mixed and defensives supported Asia: strong session led by Japan; tech hardware outperformed Rates: US Treasury yields little changed after last week’s pullback Commodities: oil firmer; gold consolidating after a powerful weekly advance FX: US dollar steady; yen underperforms G-10 peers; select EM Asia currencies remain supported by policy measures Top themes Gold’s momentum returns A renewed wave of institutional demand has breathed life back into precious metals. Exchange-traded products have shifted back to net inflows while official-sector purchases remain a steady tailwind. A softer growth pulse and ebbing odds of near-term rate hikes have eased real-yield headwinds, allowing bullion to regain its role as a portfolio hedge against fiscal strains, leverage in the financial system, and geopolitical uncertainties. Gold miners, a high-beta expression of the theme, have tracked the upswing, though volatility remains elevated and sensitivity to real-rate moves is high. AI capex still setting the tone Corporate spending tied to artificial intelligence infrastructure continues to underpin earnings in semiconductors, equipment, and cloud-related ecosystems. Recent sales updates from leading chip manufacturers and foundries signal resilient demand across training and inference buildouts. That narrative, coupled with ongoing cost discipline in mega-cap tech, has kept major indices hovering near records even as economic data have turned more mixed. Inflation in focus The week’s marquee macro release is US consumer inflation. Markets expect only a modest monthly rise after last month’s cooling, reinforcing the view that policy rates are near or at their peak. Any surprise on shelter or core services could quickly reprice front-end rates and growth-sensitive equities. Beyond the headline print, watch measures of underlying momentum and breadth of disinflation. Geopolitics and energy Crude prices are supported by supply discipline and persistent geopolitical risk around key shipping lanes. While some tensions have eased at the margin, risk premia remain embedded. Higher energy input costs would complicate the disinflation path, particularly for transport and goods-sensitive sectors. Currency dynamics The yen has lagged as the impact of earlier intervention faded and rate differentials persisted. In emerging Asia, authorities are increasingly relying on a mix of liquidity tools and macroprudential measures to stabilize FX without eroding reserves, helping temper volatility even as the US dollar trades firm. Equities US: Futures imply a quiet open with leadership still concentrated in tech and communication services. Earnings quality and free-cash-flow resilience remain key support pillars as the cycle matures. Europe: Indices are treading water; exporters are sensitive to dollar strength, while domestic defensives benefit from stable yields. Asia: Japan led gains on tech hardware strength and supportive corporate actions. Mainland China and Taiwan sentiment improved on continued AI-related demand, even as broader property and consumer signals remain uneven. Trade Global Futures & Options Access CME, ICE, and other global exchanges from a single account in Dubai. Explore Futures & Options Fixed income Treasuries are rangebound ahead of CPI. The market is balancing softer labor readings against sticky components of core inflation. A benign print likely bull-steepens curves; a hot surprise risks bear-flattening via front-end repricing. Credit spreads are stable, with higher-quality segments still favored amid rich valuations. Commodities Gold: Consolidating after a strong weekly rally as ETF inflows reappear and central-bank demand persists. Key drivers to watch: real yields, USD trend, and positioning. Oil: Firm on supply discipline and geopolitical undercurrents. Refining margins and inventory data will shape near-term direction. Industrial metals: Mixed, tracking China growth signals and global capex trends. FX USD: Firm but off peaks; sensitive to CPI surprise and rate-path implications. JPY: Underperforms; sustained support likely requires either softer US yields or stronger domestic policy signals. EM Asia: Tactically supported by policy backstops; idiosyncratic stories continue to drive dispersion. Corporate highlights to watch Semiconductors and equipment: Updates on AI capacity, supply constraints, and lead times. Networks and hardware: Orders tied to data center and edge buildouts. Consumer and healthcare: Guidance sensitivity to wage trends and promotional intensity. Natural resources: Cost inflation, capital discipline, and shareholder return frameworks in focus. The week ahead: key catalysts US inflation data: Headline, core, and shelter dynamics; implications for real yields and risk assets. Global earnings: Semis, hardware, software, luxury/retail, and healthcare names provide read-throughs on AI demand, enterprise budgets, and consumer health. Policy and geopolitics: Any developments around energy supply routes and defense procurement could sway commodities and cyclicals. FX stability measures: Emerging-Asia policy signaling on currency management. Portfolio considerations Multi-asset: Maintain balance between growth exposures benefiting from AI capex and quality defensives supported by stable yields. Rates: Duration neutrality or a mild long bias may help if disinflation persists; keep optionality around front-end moves into CPI. Equities: Favor cash-generative leaders; use pullbacks to add selectively in semis and infrastructure enablers while respecting valuation risk. Commodities: Gold remains a potential hedge against policy and geopolitical uncertainty; position sizing should reflect volatility and correlation regimes. Risk management: Event risk is elevated into data; consider staggered entries and defined-risk structures. Disclaimer: Trading foreign exchange and/or contracts for difference on margin carries a high level of risk, and may not be suitable for all investors as you could sustain losses in excess of deposits. The products are intended for retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. The content of the Website must not be construed as personal advice. For retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. Rolling Spot Contracts and CFDs are complex instruments and come with a

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Daily Market Updates – August 07

Market Updates, Daily Market Updates / PhillipCapital DIFC Research Team

07 August 2026 – Daily Market Updates Markets Morning Briefing: Jobs Day Puts Policy Path in Focus Opening take Investors head into the US employment report with cautious optimism. Equities are edging higher, Treasury yields are a touch softer, and the dollar is steady-to-firm. Europe is in the green and much of Asia finished the session mixed, with mainland China stronger and Japan lagging on currency jitters. The stakes are high: a robust hiring print risks reviving concerns about sticky inflation and keeping policy restrictive for longer, while a softer number could ease rate expectations and support duration and equity multiples. Volatility around the release and into the US open is likely. Macro radar: Three ways today’s labor data can hit markets Hotter-than-expected: Implication: Strength in payrolls and/or wages would likely lift front-end yields, reprice rate-cut odds lower, and pressure long-duration equities. Market bias: Dollar firmer; cyclical stocks mixed; rate-sensitive growth and small caps more vulnerable; credit spreads could widen modestly. Softer-than-expected: Implication: Cooling job creation and moderating pay growth would reinforce a disinflation narrative, supporting bonds and high-quality equities. Market bias: Curve bull-steepening risk; dollar softer; defensives, quality growth, and mega-cap tech favored; credit tone steadier. “Goldilocks” mix: Implication: Moderate job gains with cooler wage momentum and stable participation could be the sweet spot for risk assets. Market bias: Broad equity participation, yields contained, FX ranges respected. Rates, FX and credit US Treasuries: Yields are a bit lower ahead of the print as traders trim exposure. Expect a larger-than-usual move in 2s/10s on the wage component. Dollar and yen: The greenback remains underpinned by yield differentials. The yen stays fragile near historically weak levels; chatter about potential official support lingers if volatility spikes. Credit: Primary markets remain open, but secondary liquidity may thin into the data. Higher-beta credit could be choppy if the report runs hot. Elevate Your Institutional Trading Discover comprehensive institutional brokerage solutions designed for professional counterparties, funds, and family offices. Explore Institutional Services Equities US futures are modestly higher as traders position for the release. Breadth has improved this week, but leadership remains concentrated in cash-generative, balance-sheet-strong names. Sectors to watch: Software/cloud: Results and guidance have skewed mixed; operational efficiency and AI monetization remain key differentiators. Internet/travel: Consumer demand and pricing power trends are being rewarded; FX and marketing spend are the swing factors. Advertising/marketing tech: Guidance sensitivity to macro and spend visibility is elevated; expect dispersion. Utilities/energy transition: Policy support and earnings visibility keep interest intact; rate moves remain the principal headwind/tailwind. Earnings calendar: Another busy session with updates across technology, consumer, media, and power/utilities. Guidance and free cash flow priorities matter more than headline beats. Commodities Oil: Crude is consolidating after recent swings tied to demand indicators and shipping-route headlines. Positioning is balanced between growth concerns and supply discipline. Gold: The metal is firm as real yields slip into the print; a soft wage read would support bullion, while a hot print could cap gains. Industrial metals: Copper strength reflects ongoing supply tightness and incremental restocking. Any growth scare would test the rally’s resilience. Positioning and sentiment Risk appetite has climbed alongside improved breadth. Several sentiment gauges point to elevated optimism, which can amplify moves around macro surprises. Consider staggering entries/exits and minding concentration risk. What we’re watching today US labor market: Nonfarm payrolls, unemployment rate, participation, and average hourly earnings. Policy chatter: Any hints on how officials weigh labor momentum versus inflation progress. Next up: Inflation data, key business surveys, and a dense slate of corporate results next week. Portfolio considerations Into the print: Keep dry powder for potential dislocations; liquidity can evaporate around data. For rate-sensitive exposures, think about collars or partial hedges to manage gap risk. Emphasize balance-sheet quality and durable cash flows while macro uncertainty persists. Scenario tilts (tactical, not advice): Hot labor: Favor value/cash-flow growers; trim duration; maintain dollar hedges. Soft labor: Add selectively to quality growth; extend duration modestly; review EM FX exposure. Mixed: Stay diversified; avoid overreacting to the first move; reassess after the close. House view summary Macro: Growth decelerating but not collapsing; inflation easing unevenly; policy restrictive but data-dependent. Markets: Narrow leadership broadening gradually; carry attractive in high-quality credit; equity risk premium compressed, making earnings delivery crucial. Trade Global Futures & Options Take a position or hedge exposure across the world’s most liquid exchange-traded futures and options markets from a single DFSA-regulated account. Contact Us Disclaimer: Trading foreign exchange and/or contracts for difference on margin carries a high level of risk, and may not be suitable for all investors as you could sustain losses in excess of deposits. The products are intended for retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. The content of the Website must not be construed as personal advice. For retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. Rolling Spot Contracts and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of our retail client accounts lose money while trading with us. You should consider whether you understand how Rolling Spot Contracts and CFDs work, and whether you can afford to take the high risk of losing your money. Daily Market Updates – August 07 August 7, 2026 07 August 2026 – Daily Market Updates Markets Morning Briefing:… Read More Daily Market Updates – August 06 August 6, 2026 06 August 2026 – Daily Market Updates Daily Market Brief:… Read More Daily Market Updates – August 05 August 5, 2026 05 August 2026 – Daily Market Updates Morning Market Brief:… Read More Daily Market Updates – August 04 August

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Daily Market Updates – August 06

Market Updates, Daily Market Updates / PhillipCapital DIFC Research Team

06 August 2026 – Daily Market Updates Daily Market Brief: Policy Crosscurrents Weigh on Bonds and the Dollar Overview Global markets are navigating a fresh bout of policy-driven uncertainty out of Washington. Shifting signals on monetary communication and indications of coordination with allies on foreign-exchange stabilization have pushed US Treasury yields toward cycle highs and taken some steam out of the dollar. Equities are mixed, with tech-heavy benchmarks softer while broader indices tread water ahead of Friday’s US employment report. Global snapshot US equity futures: mixed, with the S&P 500 slightly firmer and the Nasdaq 100 marginally lower as investors rotate within tech and wait for data. Europe: major indices are higher, led by cyclicals and select defensives. Asia: performance diverged; South Korea slumped on chip- and hardware-related weakness, while other regional markets were steadier. Commodities: crude is steady near the upper-$70s as supply risks and demand signals offset; industrial metals are range-bound. FX: the dollar is softer on balance; USD/JPY hovers near the high-150s after recent policy headlines, while high-beta currencies are mixed. Macro and policy Washington watch: Market attention is fixed on two fronts—how US monetary authorities intend to communicate the policy path from here and what role the Treasury and its partners may play in FX stability efforts. The combination has added to rate volatility, steepened parts of the curve, and weighed on the greenback. Labor in focus: Friday’s US jobs data is the next major macro catalyst. After a string of mixed activity readings, investors are looking for confirmation on wage momentum and labor demand that could influence the near-term rate trajectory. Geopolitics: Developments around maritime logistics in a key Middle Eastern chokepoint are being monitored closely. Any durable easing of bottlenecks would be supportive for shipping, oil flows, and freight rates. Equities Leadership rotation: The year’s dominant AI and software winners remain choppy as investors reassess valuations and earnings durability. Hardware and memory-exposed names underperformed on cautious outlooks, pressuring related Asian suppliers. Europe bright spots: Advertising and select services shares rallied on signs that efficiency drives and cost controls are gaining traction. Earnings calendar: A full slate across software, digital advertising, media/streaming, payments, energy, consumer discretionary, and travel reports before and after the US closing bell. Guidance and cash-flow commentary are likely to drive single-stock dispersion. Market internals: Breadth is uneven and factor rotations are fast. Quality balance sheets and consistent free-cash-flow profiles continue to attract interest during macro headline risk. Rates and FX Treasuries: Yields are pushing toward multi-year highs as investors price a wider range of policy outcomes. The long end remains sensitive to supply dynamics and term premium, while the front end reflects lingering inflation stickiness versus cooling growth pockets. Dollar: The US currency is modestly weaker versus major peers, with policy ambiguity and relative rate expectations in focus. The yen has steadied after recent volatility; carry trades remain sensitive to headlines about potential support measures. Credit: Primary markets are active and spreads are contained, but dispersion is building beneath the surface. Issuer quality, covenants, and sector-specific fundamentals matter more as the cycle matures. Navigate Market Volatility with Precision Capitalize on today’s FX and rate movements with our advanced trading infrastructure. Open an Account Commodities Energy: Brent crude is little changed, balancing geopolitical risk and refined-product demand trends. US inventory data and any shipping-route developments are the near-term swing factors. Metals: Base metals are steady, with China growth signals and global manufacturing PMIs driving the tone. Precious metals are range-bound as real yields rise but the dollar eases. What’s ahead Today: US jobless claims, productivity/cost data, and several large-cap earnings across tech, media, payments, energy, and consumer sectors. Friday: US nonfarm payrolls, unemployment rate, and average hourly earnings—key inputs for the policy outlook and rate volatility. Ongoing: Central-bank speakers globally; headlines around FX coordination, fiscal plans, and geopolitical developments. Risk radar Policy signaling: Changes in central-bank communication styles can amplify market moves, particularly in rates and FX. Liquidity pockets: Summer trading conditions can widen intraday swings; use disciplined risk parameters around data releases. Geopolitical logistics: Any disruption—or normalization—around key shipping lanes can quickly filter into energy and freight markets. Bottom line Markets are in a headline-driven holding pattern: rates are recalibrating to policy crosscurrents, the dollar is softer at the margin, and equities are rotating beneath the surface. With a pivotal US jobs report due Friday and a busy earnings slate, expect volatility around the edges and dispersion at the single-name level. Ready to Trade Global Equities and Commodities? Access tailored execution, deep liquidity, and dedicated support for your portfolio. Contact Us Disclaimer: Trading foreign exchange and/or contracts for difference on margin carries a high level of risk, and may not be suitable for all investors as you could sustain losses in excess of deposits. The products are intended for retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. The content of the Website must not be construed as personal advice. For retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. Rolling Spot Contracts and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of our retail client accounts lose money while trading with us. You should consider whether you understand how Rolling Spot Contracts and CFDs work, and whether you can afford to take the high risk of losing your money. Daily Market Updates – August 06 August 6, 2026 06 August 2026 – Daily Market Updates Daily Market Brief:… Read More Daily Market Updates – August 05 August 5, 2026 05 August 2026 – Daily Market Updates Morning Market Brief:…

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Daily Market Updates – August 05

Market Updates, Daily Market Updates / PhillipCapital DIFC Research Team

05 August 2026 – Daily Market Updates Morning Market Brief: Tech momentum snaps back as earnings lift sentiment Global risk appetite is firmer to start the day, with a powerful rebound in large-cap technology setting the tone even as rate markets hold steady and oil pushes higher. Four sessions of strong gains have flipped sentiment from defensive to constructive, led by cloud platforms, software, and AI‑exposed names. At the same time, the macro backdrop remains fluid: crude is advancing on hopes for progress around key Middle East shipping lanes, and policymakers’ attention on currency stability in Asia continues to simmer in the background. Market snapshot (as of 07:00 a.m. ET, per provided data) S&P 500 futures: +0.4% Nasdaq 100 futures: -0.1% US 10‑year Treasury yield: 4.61% (flat) Brent crude: +1.8% near $81/bbl South Korea equities: sharply higher Equities: from whiplash to melt-up Leadership has swung back to mega-cap tech after a bruising stretch last month. Better‑than‑expected quarterly updates from several cloud and software heavyweights have reassured investors that AI‑related investments are translating into revenue and margin durability. Semiconductors are more mixed: select names tied to data‑center CPU/GPU cycles lagged after guidance failed to clear elevated expectations, even as networking and infrastructure suppliers surprised to the upside. The rebound has been broad across growth cohorts—hyperscalers, software platforms, and select chipmakers—with travel and select cyclicals also catching a bid on resilient demand signals. Not every headline name is participating: a newly listed space/launch firm and some AI beneficiaries with aggressive spending plans saw pressure as investors re‑price near‑term cash flow and capex trajectories. Rates, FX, and policy Treasuries are steady around 4.61% on the 10‑year, with the curve largely unchanged into a busy run of earnings and potential policy headlines. The market remains sensitive to any upside surprises in wages and services‑sector pricing later this week. Currency markets continue to watch efforts to stabilize the yen amid concerns that excessive weakness could export volatility to broader Asian FX. Messaging from authorities has emphasized the importance of stability for regional financial conditions. Commodities: oil climbs on de escalation hopes Crude is firmer as traders handicap the odds of improved traffic through a key maritime chokepoint. Any tangible easing of shipping frictions would be supportive for global trade sentiment, though the supply/demand balance will ultimately hinge on inventory trends and refined‑product cracks into late summer. Industrial metals are steady to firmer alongside improving risk tone, while gold is little changed as real yields flatten. Trade Global Commodities with PhillipCapital Access comprehensive futures and gold derivatives trading through our regulated DIFC platform. Explore DGCX Trading Earnings rundown: breadth beyond tech Today’s calendar spans multiple sectors, offering a clearer read on the health of the consumer and enterprise spending. Before the open, look for updates from major entertainment, healthcare, consumer staples, and mobility platforms. After the close, storage, ad‑tech, travel platforms, energy, fintech, marketplaces, and delivery names take the stage. Key themes to watch: AI monetization pathways beyond infrastructure spend; pricing power versus volume in consumer bellwethers; cost discipline in software; cloud optimization versus expansion; and capital return frameworks amid heightened capex plans. Global context: no summer lull August often trades with thinner liquidity and sharper reactions to newsflow. This year is no exception, with geopolitical developments, currency management efforts, and a crowded earnings tape all vying for attention. For now, risk assets are leaning bullish as earnings outliers reset the narrative around AI ROI and cloud demand. Still, the speed of recent moves argues for vigilance: last month’s drawdown is a reminder that positioning can unwind quickly when expectations overrun fundamentals. What we’re watching next Earnings quality: forward guidance, backlog conversion, and cash flow versus headline beats. AI spend diffusion: evidence that benefits are broadening from infrastructure and chips to software, services, and end‑markets. Rates sensitivity: how equity duration trades respond if term premiums or inflation breakevens drift higher. Energy pass‑through: whether higher crude filters into freight and consumer prices, potentially complicating the disinflation trend. FX stability: any coordinated signals that anchor the yen and curb spillovers to Asian currencies. Portfolio considerations Balance enthusiasm with discipline: the rebound has been swift; reassess position sizing and concentration in crowded winners. Focus on cash generation: in a market rewarding profitable growth, free cash flow and operating leverage remain key differentiators. Hedge the edges: consider scenarios where oil holds a higher floor or rates back up; options‑based overlays can help manage gap risk during thin summer liquidity. Quality of guidance: prioritize names offering clear visibility into FY/next‑FY demand, not just near‑term beats. Bottom line Earnings have re‑ignited animal spirits in tech and improved the broader tone, while rates calm and firmer crude reflect a cautiously optimistic macro read. The path forward will hinge on whether guidance validates the pace of the rebound and whether macro cross‑currents—energy, FX, and policy—stay contained. For now, dips are being bought and leadership is squarely back with secular growth, but the bar has risen. Note: This commentary is for information purposes only and is not investment advice. Market levels are indicative and subject to change. Open Your Trading Account Build and diversify your portfolio with a globally trusted, DFSA-regulated broker. Open an Account Disclaimer: Trading foreign exchange and/or contracts for difference on margin carries a high level of risk, and may not be suitable for all investors as you could sustain losses in excess of deposits. The products are intended for retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. The content of the Website must not be construed as personal advice. For retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin.

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Daily Market Updates – August 04

Market Updates, Daily Market Updates / PhillipCapital DIFC Research Team

04 August 2026 – Daily Market Updates Market Morning: S&P 500 Eyes New Peak as Breadth Improves, Oil Climbs on Geopolitical Jitters Overview US stocks enter the session with momentum building again: futures are slightly higher and the S&P 500 is within striking distance of a new all-time high. After a sharp reset in popular AI-linked names through early summer, the market tone has shifted toward healthier breadth. Cyclical sectors, small caps and rate‑sensitive areas have been catching a bid as positioning cools and investors refocus on earnings durability and cash returns. Around the markets Equities: US futures edge up; Europe trades higher on generally resilient earnings; Asia mixed with mainland China firmer. Rates: US 10-year yields are a touch higher, hovering near the upper end of recent ranges as investors weigh growth, supply and inflation data ahead. Commodities: Brent crude advances into the mid‑$80s, with a geopolitical risk premium re-emerging around key shipping lanes. Energy equities look supported; fuel-sensitive industries may face renewed headwinds. FX: The dollar is broadly firmer, with USD/JPY near the high‑150s. Traders remain vigilant for any fresh signs of official activity after recent moves to stabilize the yen. Equities: a rally widening beyond mega-cap tech Rotation and breadth: The spring/summer shakeout in semiconductors and other AI beneficiaries pulled valuations back and tempered leverage. In recent weeks, leadership has broadened into industrials, financials, real estate and small caps, improving market internals. Earnings focus: With another dense day of results across industrials, health care, consumer, and technology, attention is on 1) guidance into year‑end, 2) AI and data-center capex spillovers across supply chains, 3) margin resilience as input costs and wages evolve, and 4) buyback and dividend trajectories. Small caps vs. large caps: The gap has narrowed as investors seek cyclical exposure and domestic growth. Follow‑through will likely hinge on rate stability and signs of improving demand for capital goods and services. Trade Global Markets with Confidence Access US equities, global stocks, GCC markets, and CFDs through a DFSA-regulated broker. Build and diversify your portfolio securely with PhillipCapital DIFC. Explore Investment Products Commodities and energy Crude oil: Prices are higher on headlines tied to Gulf shipping security and broader Middle East tension. A sustained move higher in crude could bolster energy sector cash flows but pressure transportation, chemicals and parts of consumer discretionary where fuel is a key cost. Gasoline and refining spreads: Watch refining margins into late summer; tightening product markets can keep fuel costs elevated even if crude stalls. Fixed income and credit Treasuries: The long end remains sensitive to supply and term-premium dynamics. Higher yields support value stocks and financials but can be a headwind to expensive growth names if the move extends. Credit: Investment-grade remains well bid on demand for income, while high yield is more idiosyncratic into earnings and dispersion in cyclical sectors. Currencies Yen: Markets are treating the mid‑150s per dollar as a pivotal zone after recent coordinated action. Volatility around this area could spill over into Japanese equities and global carry trades. Euro and sterling: Stable to slightly softer against the dollar as European data and earnings shape rate path expectations. Sector themes to watch today Semiconductors and AI supply chain: Results and guidance will help test whether recent de‑risking has run its course and where demand is most durable (data centers, autos, industrial AI). Industrials and machinery: Backlogs, pricing power and order books are key tells for the late‑cycle path. Health care and pharma: Pipelines, patent cliffs and cost controls remain center stage; watch commentary on R&D cadence and capital returns. Consumer and internet: Ad demand, user growth and monetization trends help frame the soft‑landing narrative. Travel and leisure: Fuel volatility and capacity discipline are back in focus for airlines and travel platforms. Global snapshot Europe: Equities are broadly firmer with earnings beats outnumbering misses in several sectors; however, companies exposed to higher fuel costs or weaker online sales growth are seeing pressure. Asia: Mainland China benchmarks advanced on policy support signals and bargain hunting in large caps; elsewhere, performance was mixed as investors navigated currency swings and July’s cross‑asset volatility. What could move markets next Earnings: Another full slate before and after the bell across industrials, health care, consumer and tech. Guidance revisions will likely drive single‑stock dispersion. Oil and geopolitics: Any escalation or de-escalation around key maritime chokepoints can quickly reprice energy, airlines and inflation expectations. Rates: Auctions, Fed speak and upcoming inflation prints will steer the path of long-duration assets and factor leadership. Market breadth: Whether small caps and cyclicals can extend recent outperformance is a key tell for the sustainability of the advance toward new highs. Bottom line The path of least resistance for US equities remains constructive as the market transitions from a narrow, momentum‑led advance to a broader earnings‑driven phase. That said, higher long-end yields and an oil risk premium are re-emerging speed bumps. Expect choppier, more selective leadership with earnings and balance-sheet strength the key differentiators. Navigate Market Volatility with Expert Guidance Need help adjusting your strategy amid shifting yields and geopolitical risks? Connect with our institutional and retail brokerage experts in Dubai to optimize your investments. Contact Us Disclaimer: Trading foreign exchange and/or contracts for difference on margin carries a high level of risk, and may not be suitable for all investors as you could sustain losses in excess of deposits. The products are intended for retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. The content of the Website must not be construed as personal advice. For retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. Rolling Spot Contracts

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Daily Market Updates – August 03

Market Updates, Daily Market Updates / PhillipCapital DIFC Research Team

03 August 2026 – Daily Market Updates Markets Morning Briefing: Yen Support Sends Ripples Across Assets Overview Global markets opened the week steady-to-firmer as investors weighed a rare, coordinated effort by US and Japanese authorities to stabilize the yen alongside softer crude prices and slightly easier long-end Treasury yields. Equity futures in the US pointed higher, oil retreated after recent geopolitical tensions showed tentative signs of easing, and the dollar-yen pair backed off its recent extremes. Top theme: Why the yen matters beyond FX A coordinated move to reinforce the yen is unusual and signals policymakers’ unease with disorderly currency moves. For Japan, a weaker currency has amplified import costs and squeezed households and corporates; for the US, the transmission runs through rates and funding markets. Japan holds a substantial stock of US Treasuries. Traditional intervention—selling dollars to buy yen—can mean offloading Treasuries, adding upward pressure to US yields. That’s a sensitivity for global risk assets, given how much equity and credit pricing leans on long-end stability. A key mitigant: the Federal Reserve’s facility that allows foreign central banks to obtain dollars by pledging Treasuries, rather than selling them outright. Wider use of such tools could dampen the impact on the open market while still supplying intervention firepower. A firmer yen can also temper trade frictions by improving Japan’s purchasing power for US exports. Strategically, officials appear intent on avoiding any perception of a weaker-dollar policy; funding yen purchases via non-dollar reserves is one way to keep the dollar stance intact. What to watch next: Signals of follow-on operations or “smoothing” activity if volatility resurfaces. Any pickup in foreign official use of the Fed’s foreign repo facility. The long end of the US curve, where persistent selling pressure would be most felt. Bank of Japan communications on rate settings and balance-sheet tools. Institutional Services for Funds & Family Offices Secure direct API, algorithmic trading connectivity, and global execution through a DFSA-regulated powerhouse Explore Institutional Coverage Cross-asset snapshot Equities: US futures edged higher, helped by softer yields and a pullback in oil. Europe opened mixed; Asia was steadier, with Japan’s market firming as the yen stabilized. Rates: US Treasury yields eased slightly at the 10- to 30-year maturities after a brisk run-up. The curve remains sensitive to supply, data, and foreign official flows. FX: Dollar-yen slipped from recent highs after the joint move; traders remain alert to headlines and intraday liquidity pockets. Broader dollar indices were rangebound. Commodities: Crude retreated as geopolitical risks appeared a touch less acute and as risk assets found footing. Industrial metals were mixed; gold held near recent ranges. Crypto: Security headlines around hardware wallets kept a lid on sentiment; dispersion remained high across tokens. Companies and sectors to watch Pharma deal talk: Reports of a potential mega-cap combination in the sector jolted shares—typical pattern saw the prospective buyer under pressure and the potential target bid up. Beyond the immediate price action, investors are parsing implications for pipelines, patent cliffs, and regulatory hurdles. Electrical infrastructure: A European cables leader agreed to purchase a US maker of electrical and conduit products, underscoring steady demand for grid, data center, and electrification buildouts. Index changes: A building products and distribution company is slated to join a major US large-cap index, replacing a constituent involved in a pending acquisition. Passive flows and sector weights are in focus. Technology and AI: A leading Chinese platform rolled out a new flagship AI model, keeping competitive pressure elevated in foundation models and enterprise AI tooling. Cybersecurity/crypto: Exploits targeting certain “cold” wallet configurations reminded investors that operational security remains as critical as market beta for digital assets. Macro calendar and earnings Data: The US labor market report caps the week and is expected to show hiring re-accelerating from a softer prior print. Wage trends and participation will shape rate expectations as markets debate how restrictive policy remains. Earnings highlights: Before the bell today, hospitality and protein producers report; after hours, look for updates from ride-hailing/super-apps, analog and power semis, AI/defense software, E&P, biotech, and social media. Later this week, results from media/streaming, quick-service restaurants, and a leading CPU/GPU designer will be key reads on advertising, consumer demand, and AI infrastructure capex. Strategy takeaways FX: Expect two-way volatility in dollar-yen. Clearer, rules-based signals from authorities can dampen spikes, but the underlying rate differential remains wide; tactical positioning and options hedges are likely to stay elevated. Rates: If intervention is financed without significant Treasury sales, that could ease some pressure at the long end. Still, supply, inflation surprises, and term premium dynamics argue for ongoing choppiness. Equities: Lower oil and gentler yields are a near-term tailwind for duration-sensitive sectors (tech, comm services), while M&A and index flows can add idiosyncratic dispersion. Balance guidance against still-elevated macro uncertainty. Commodities: Oil’s pullback bears watching; a durable easing in geopolitical risk would help headline inflation optics into autumn, but inventories and OPEC+ discipline remain swing factors. Key risks to monitor Follow-through and effectiveness of yen operations; risk of spillovers to US rates. US payrolls and inflation prints that could reprice the path of policy. Geopolitical developments with potential to re-tighten energy markets. Cyber and operational risks in digital assets and adjacent fintechs. Note: Market conditions and price moves referenced are based on early US trading indications and are subject to change. Diversify Your Portfolio Across Global Markets Seamlessly invest in US stocks, ETFs, GCC equities, and Indian derivatives Discover Investment Products Disclaimer: Trading foreign exchange and/or contracts for difference on margin carries a high level of risk, and may not be suitable for all investors as you could sustain losses in excess of deposits. The products are intended for retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. The content of the Website must not be construed as personal advice. For retail, professional and

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Daily Market Updates – July-31

Market Updates, Daily Market Updates / PhillipCapital DIFC Research Team

31 July 2026 – Daily Market Updates Daily Market Brief: A Week of Whiplash Across Assets Overview Volatility flared across global markets this week, with sharp two-way moves in equities, bonds, currencies, and commodities. Position unwinds, thin summer liquidity, and divergent earnings and policy signals combined to amplify intraday swings. While risk appetite stabilized into the end of the week, the backdrop remains headline‑sensitive and momentum‑driven. Key Takeaways Equities: Big intraday ranges returned as investors rotated between growth, AI-linked names, and defensives. Mega-cap tech earnings were mixed, fueling sector-level dispersion. Semiconductors: Chip-related shares saw outsized moves amid shifting views on demand, supply constraints, and positioning. Price action highlighted momentum’s double-edged nature. Rates: Long-dated government bonds sold off earlier in the week before stabilizing, leaving yields elevated by recent standards and curves prone to further bear-steepening if inflation concerns persist. FX: Policy signaling and official activity stoked volatility in major pairs. Episodes of rapid, two-way trading underscored fragile liquidity conditions. Commodities: Crude oil extended recent gains on supply and geopolitics, while industrial metals tracked growth sentiment. Energy leadership supported value and cash-flow generators. Market microstructure: Leverage reduction and risk-control triggers likely amplified moves. Once forced sellers cleared, price action calmed, but the setup remains twitchy. Equities US: Index-level resilience masked intense sector rotations. Software and cloud-related names outperformed at times on steady enterprise demand, while select hardware and consumer tech names flagged supply and pricing frictions. Earnings season delivered both positive and negative surprises, and guidance mattered more than beats. Europe: Cyclical shares traded with global growth expectations and energy strength; defensives provided a ballast as rate volatility weighed on financials unevenly. Asia: Tech-heavy indices experienced extreme swings, with retail flows and programmatic activity magnifying gaps. Stabilization late in the week followed evidence of position clearing rather than a shift in fundamentals. Rates and Central Banks Sovereign yields pushed higher at the long end earlier in the week amid uncertainty over the path of inflation and the durability of policy restraint. Real yields remain a key driver for equity multiples and credit spreads. Front-end pricing continues to wobble with each data point and policy remark, keeping volatility elevated in rates options. Central bank communication reinforced the “higher for longer if needed” bias even as markets look for eventual easing. Expect sensitivity around inflation prints, labor data, and speeches. FX The dollar’s path was choppy as rate differentials, policy headlines, and haven demand ebbed and flowed. Yen and other rate-sensitive currencies saw brisk moves around policy developments and official rhetoric, reminding traders that intervention risk and volatility can rise quickly when positioning is crowded. Emerging-market FX performance diverged with commodity exposure and domestic policy credibility. Commodities Oil prices firmed on tightening supply dynamics and persistent geopolitical risk. Backwardation and inventory draws supported sentiment. Gold’s range reflected the tug-of-war between real yields and safe-haven demand. Industrial metals tracked the global growth pulse and China-sensitive headlines. Explore Spot FX & CFD Trading Navigate volatile currency and commodity markets with flexible, leveraged trading solutions. Discover CFD Trading Credit Investment-grade spreads were broadly steady, cushioned by solid corporate balance sheets and manageable issuance. High yield was more idiosyncratic, with dispersion linked to earnings quality and interest coverage in a higher-rate world. Positioning and Risk Rapid swing days highlighted how volatility, leverage, and algorithmic flows can feedback on each other. When momentum flips, exit doors can feel narrow. For portfolios, liquidity management, staggered entry/exit, and diversification across factors (quality, value, low volatility) remain critical in this tape. Option hedges and defined-risk structures may help navigate binary catalysts during earnings and data-heavy weeks. The Road Ahead Data to watch: Global PMIs, inflation gauges, labor-market updates, and consumer spending. Each can shift the debate on growth resilience versus policy restraint. Earnings: Guidance and cash flow remain in focus over headline beats. Watch commentary on capex, AI-related demand, supply chains, and pricing power. Policy: Central bank minutes and appearances can reprice front-end expectations quickly; stay alert to any change in reaction functions. Bottom Line Markets absorbed a meaningful stress test in liquidity and positioning this week. While late-week calm suggests forced selling abated, the balance of risks still argues for disciplined risk management, selective exposure, and patience around entries. Expect volatility to remain a feature, not a bug, as the cycle navigates the trade-off between durable growth and restrictive policy. Trade Global Markets with Confidence Access equities, FX, commodities, and more through PhillipCapital DIFC’s regulated trading platform. Open an Account Disclaimer: Trading foreign exchange and/or contracts for difference on margin carries a high level of risk, and may not be suitable for all investors as you could sustain losses in excess of deposits. The products are intended for retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. The content of the Website must not be construed as personal advice. For retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. Rolling Spot Contracts and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of our retail client accounts lose money while trading with us. You should consider whether you understand how Rolling Spot Contracts and CFDs work, and whether you can afford to take the high risk of losing your money. Daily Market Updates – July-31 July 31, 2026 31 July 2026 – Daily Market Updates Daily Market Brief:… Read More Daily Market Updates – July-30 July 30, 2026 30 July 2026 – Daily Market Updates Daily Market Briefing:… Read More Daily Market Updates – July-29 July 29, 2026 29 July 2026 – Daily Market Updates Daily Market Briefing:… Read More

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Daily Market Updates – July-30

Market Updates, Daily Market Updates / PhillipCapital DIFC Research Team

30 July 2026 – Daily Market Updates Daily Market Briefing: Long End Leads, Tech Credit Signals, Earnings in Focus Here’s a broad look at how markets are setting up and what investors are watching across asset classes. Top Themes Policy credibility under the microscope: After the latest central bank decision to leave rates unchanged, traders are reassessing how determined policymakers are to subdue persistent price pressures. The immediate reaction has been a jump in longer-dated government bond yields, a softer front end, and a visibly steeper curve. Rates are doing the tightening: With long-term borrowing costs rising, financial conditions are firming even without a policy move. That is feeding through to risk assets and valuation frameworks, particularly for long-duration equities and leveraged balance sheets. Earnings dispersion intensifies: Mega-cap technology remains the market’s swing factor. Cloud and AI exposure continue to attract premium multiples when execution is strong, while cautious outlooks are being penalized. The after-hours slate remains busy with several household tech and consumer internet names set to report. Credit market caution around big-tech capex: Protection costs on select large technology issuers have widened, signaling a more discerning view of heavy investment cycles tied to AI. Markets are increasingly separating perceived winners from those with stretched spending plans or slower monetization paths. Global equity tone is mixed: Europe is modestly higher, US equity futures are firmer after a choppy session, and parts of Asia lagged on growth concerns. Commodities are steady-to-firm, with energy underpinned by supply dynamics and seasonal demand. Rates and FX Yield curve: A notable bear-steepening is in play, with long bonds under pressure as term premiums and inflation risk compensation rise. Short-dated yields eased as markets scaled back expectations for near-term hikes. Market read-through: Higher long-end rates can weigh on rate-sensitive sectors, capital-intensive projects, and richly valued growth stocks. Conversely, a steeper curve can offer some relief to lenders’ net interest margins. Currencies: The dollar is mixed, easing against some majors on the curve move and risk tone, while haven demand remains episodic. Rate differentials and policy guidance remain the primary drivers. Equities US: Index futures are pointing to a constructive open led by large-cap tech following better-than-feared results in parts of cloud and software, while social and advertising-exposed names remain more volatile on forward guidance. Europe: Broad indices are modestly higher, balancing solid results in consumer and financials against pockets of weakness in exporters. Asia: Mainland and Hong Kong benchmarks underperformed amid ongoing growth and policy questions, while Japan traded mixed with currency swings influencing exporters. Trade Global Equities and Tech Names Directly Get seamless access to US stocks, ETFs, and ADRs as mega-cap earnings drive the market. Start Trading Equities Sector Lens Tech and communication services: Execution on AI monetization and cloud efficiency is being rewarded; slower topline ramps or heavier opex are drawing pushback. Financials: Benefit from a steeper curve, but credit costs and market volatility are key watch items. Consumer: Select quick-serve and specialty retail names are seeing tailwinds from menu innovation and loyalty engagement; discretionary remains split by income cohort. Industrials and materials: Sensitive to China demand signals and global PMIs. Credit Investment grade: Spreads are broadly stable, though dispersion is rising within technology as investors scrutinize capital allocation and leverage trajectories. High yield: More sensitive to the rates backup; issuers with near-term refinancing needs may face higher coupons. CDS signals: Protection costs for some large-cap tech and space-related issuers have ticked higher, reflecting caution around elevated capex and uncertain payback periods. Primary markets: Issuance remains opportunistic; windows open around macro events and marquee earnings. Commodities Energy: Crude is holding a firm tone on supply discipline and seasonal draws. Higher long-end rates can cap risk appetite but physical balances remain supportive near term. Metals: Precious metals are steady as real rate expectations and currency moves offset each other. Industrial metals remain tied to China growth sentiment. What to Watch Next Policy communication: Upcoming speeches and minutes may clarify reaction functions around inflation persistence, growth risks, and balance-sheet strategy. Data calendar (near term): Labor market indicators, consumer spending and inflation gauges later in the week will test the market’s repricing of policy paths. Earnings slate: Another heavy afternoon for mega-cap tech and e-commerce, plus semis, payments, and select consumer names. Guidance on AI spending, margin discipline, and demand elasticity will be focal. Technicals and positioning: The long-end selloff has pushed key rate-sensitive benchmarks toward notable levels; equity leadership breadth, volatility term structure, and credit index decompressions are worth monitoring. Strategy Considerations (not investment advice) Duration and curve: Elevated long-end yields argue for careful management of interest-rate exposure; some may prefer barbell approaches or selective curve hedges. Quality bias: Strong free cash flow, resilient margins, and conservative leverage are being rewarded as funding costs rise. AI filter: Distinguish between revenue-ready AI use cases and longer-dated projects; markets are demanding clearer monetization paths. Hedging: Consider reviewing downside protection and rate hedges given event risk, earnings concentration, and cross-asset volatility. Key Takeaways Markets are challenging policy-makers to reaffirm inflation-fighting credibility, and the bond market is tightening conditions in the meantime. Equity markets remain headline-driven, with megacap tech setting the tone amid wide earnings dispersion. Credit is flashing early caution in select high-capex tech names, while overall spreads remain orderly. Stay nimble around data and earnings; dispersion favors active risk management and a focus on balance-sheet strength. Manage Rate and Duration Risk with Confidence Explore fixed income and structured note solutions built for a shifting rate environment.s or holds, get the execution and support you need to trade confidently. Explore Wealth Solutions Disclaimer: Trading foreign exchange and/or contracts for difference on margin carries a high level of risk, and may not be suitable for all investors as you could sustain losses in excess of deposits. The products are intended for retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of

Daily Market Updates – July-30 Read More »

Daily Market Updates – July-29

Market Updates, Daily Market Updates / PhillipCapital DIFC Research Team

29 July 2026 – Daily Market Updates Daily Market Briefing: Cautious Tone Ahead of the Fed, Global Volatility Builds Top themes today Fed uncertainty is front and center: Markets are heading into the policy announcement with one of the widest expectation bands in years. Derivatives point to a modest chance of a surprise hike, but the base case remains no change. With officials offering less advance signaling than in prior cycles, traders are focused on the statement tone and press conference guidance for clues on the path into autumn. Asia-led risk-off, semis in focus: Korean equities saw outsized swings and authorities signaled readiness to address market stress. Chipmakers remain under scrutiny as aggressive AI-related investment plans collide with concerns about capacity and pricing power. Big Tech earnings as a second market catalyst: Several mega-cap platforms report after the close. The debate has shifted from headline AI enthusiasm to the durability and return on elevated capital spending. Oil climbs on renewed geopolitical tension: Fresh headlines from the Middle East added a risk premium to crude, while safe-haven demand and event risk kept rates and the dollar relatively rangebound into the Fed. Cross-asset setup: US equity futures are modestly higher, crude is firmer, and Treasury yields are little changed at the front end with the long end steady—consistent with a “wait-and-see” posture. What to watch at the Fed Baseline vs. surprise: A hold keeps attention on whether officials signal a tightening bias, emphasize data dependence, or flag patience. A hike—while not the consensus—would underscore an intent to lean harder against sticky inflation risks and could reprice the front end quickly. Market implications if they hold: Equities: Relief initially, but sector dispersion likely—quality growth and defensives favored if guidance sounds vigilant. Rates/FX: Curve flattening risk if “higher-for-longer” is reinforced; the dollar stays supported. Credit: Range trading with a slight preference for higher quality. Market implications if they hike: Equities: Volatility picks up; cyclicals and high-duration names could lag near term. Rates/FX: Front-end yields jump, broader dollar strength; watch funding markets into month-end. Commodities: Oil’s geopolitical bid may be tempered by tighter financial conditions. Trade the markets you’re reading about. See how our platforms give you direct access to global equities, FX, and commodities View Our Trading Products Around the regions Asia: Korean stocks experienced sharp declines, with trading halts triggered in a hectic session. Policy makers indicated they will convene to assess conditions. Semiconductor shares globally are in focus as investors reassess supply-demand balance and the pace of AI infrastructure build-outs. Europe: Mixed open as luxury and autos diverge on company updates, and banks outperform on solid trading and balance-sheet trends. Rate expectations remain anchored to US developments today. US pre-market: Futures point slightly higher as investors balance Fed risk with a dense earnings slate. Earnings radar Before the bell: A mix of consumer staples, managed care, medtech, and restaurants set the tone for defensives and US consumption. After the bell: Mega-cap platforms, software, and chip design names headline; focus areas include AI monetization, cloud growth versus spend, and capital return. Transportation, defense, brokerage, and QSR updates round out the picture on freight, budgets, retail traffic, and unit economics. Rates, FX, and commodities Treasuries: Front-end yields edge up ahead of the decision after a three-day rally; the long end is steady, keeping the curve tight. Positioning is light, with options activity elevated into the event. Currencies: The dollar holds a slight bid on policy uncertainty; Asia FX remains sensitive to risk sentiment and local equity flows. Commodities: Crude trades above the $80 mark with a geopolitical premium layered onto a balanced near-term supply outlook. Gold is stable as investors weigh real yields versus event risk. Strategic takeaways Keep event-risk discipline: Into the Fed and mega-cap earnings, consider maintaining appropriate hedges and avoiding outsized directional bets. Quality and cash flow: In equities, a tilt toward balance-sheet strength and free-cash-flow visibility can help buffer volatility if policy surprises. Duration and curve: Given two-sided policy risk, neutral duration with flexibility to add on any post-meeting overshoot may be prudent; watch for curve moves if guidance skews hawkish. Liquidity matters: Elevated intraday swings argue for staggered orders and wider thresholds around stops into and immediately after the announcement. The day ahead US: Policy decision and press conference; a busy afternoon earnings docket. Europe/UK: Company results and sentiment surveys. Asia: Policy commentary and potential measures in Korea; tech supply-chain headlines. Risk radar Policy surprise from the Fed and any shift in forward guidance Geopolitical flare-ups affecting energy markets Earnings guidance cuts tied to AI capex payback timing or consumer demand Liquidity pockets and mechanical volatility around month-end Make your next move with a trusted broker. Whether the Fed hikes or holds, get the execution and support you need to trade confidently. Open Your Account Today Disclaimer: Trading foreign exchange and/or contracts for difference on margin carries a high level of risk, and may not be suitable for all investors as you could sustain losses in excess of deposits. The products are intended for retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. The content of the Website must not be construed as personal advice. For retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. Rolling Spot Contracts and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of our retail client accounts lose money while trading with us. You should consider whether you understand how Rolling Spot Contracts and CFDs work, and whether you can afford to take the high risk of losing your money. Daily Market Updates

Daily Market Updates – July-29 Read More »

Daily Market Updates – July-28

Market Updates, Daily Market Updates / PhillipCapital DIFC Research Team

28 July 2026 – Daily Market Updates Daily Market Brief: Risk Appetite Recedes as AI Leaders Retreat Market mood is fragile to start the day. The powerful run in artificial-intelligence beneficiaries is losing steam, with investors quick to trim exposure to chipmakers and other high-multiple tech names. A sharp selloff across parts of Asia set the tone overnight, and US futures point to a softer open as participants reassess earnings durability, capex intensity, and valuations in the AI supply chain. Top takeaways Tech-led pullback: Semiconductor and hardware names remain under pressure as investors question near-term demand visibility and spending cycles. Hedging costs for credit in several high-profile tech issuers have risen, signaling a growing preference for protection. Asia stumbles: A steep decline in South Korea led regional losses, prompting a temporary cash-market halt. Japan and Taiwan also slid as traders cut exposure to chip and equipment suppliers. US futures softer, breadth tight: Nasdaq 100 futures lag while S&P 500 futures are modestly lower. Dip-buying has been inconsistent, with momentum-sensitive pockets feeling the brunt. Oil eases: Brent crude slipped below the mid-$80s as geopolitical tensions showed tentative signs of de-escalation and discussions about shipping flows in the Gulf region continued. Energy equities may see pressure, while lower oil offers a small offset for transport and consumer segments. Bonds firmer: The US 10-year yield is a few basis points lower, reflecting haven demand and a wait-and-see stance ahead of central bank commentary later this week. Across assets (approximate, early US morning) S&P 500 futures: -0.1% Nasdaq 100 futures: -0.8% South Korea Kospi: -11% US 10-year Treasury yield: ~4.62% (-3 bps) Bitcoin: ~$63,300 (-2.4%) Brent crude: ~$86 (-2.6%) Note: Market levels are indicative and subject to intraday revisions. Trade Global Markets with PhillipCapital Navigate market volatility and seamlessly access global equities, futures, and CFDs with an award-winning institutional broker. Explore What We Offer Equities Asia: Chipmakers and related equipment suppliers led declines. Elevated inventories in select categories and concerns about pricing power have added to profit-taking. Europe: A mixed open. Select consumer staples and autos outperformed on resilient updates, while parts of healthcare equipment lagged on margin pressures. US premarket: Big-picture tone remains cautious toward high-beta tech. Outside tech, attention turns to earnings from transport, industrials, consumer, travel, and lodging companies, which may help gauge demand and pricing conditions into the second half. Credit and rates Investment-grade spreads are steady to a touch wider; tech-related credit default swap pricing has moved up, consistent with rising equity volatility. Treasury yields are a bit lower across the curve as investors balance growth concerns with the risk of a more assertive stance from the Federal Reserve. The policy decision later this week is a key catalyst; markets are focused on guidance around inflation progress and the path for rates. Commodities and currencies Energy: Crude is weaker on improved supply-risk sentiment. Watch headlines around Gulf shipping lanes and any indications of OPEC+ production discipline. Industrial supply chain: The latest headlines around chipmaking tools and competitive dynamics have added uncertainty to semi capex trajectories. FX: While not the primary driver today, the usual risk-sensitive pairs could stay choppy around central bank commentary and earnings surprises. Earnings and catalysts to watch US corporates reporting before the bell include major names in parcel delivery, aerospace, coatings, beverages, lodging, and cruise lines. After the close, autos and packaged foods are in focus. Results and guidance around pricing, inventory, and capital spending will be scrutinized given the tech-led volatility. Central banks: The Fed decision this week looms large. Any hint of a firmer anti-inflation stance or changes in balance-sheet guidance could sway both duration and equity risk appetite. Positioning thoughts Concentration risk: The unwind in AI-adjacent leaders highlights the importance of diversification and ongoing rebalancing, especially after outsized gains. Liquidity: Expect wider bid-ask spreads in momentum pockets. Consider using staged orders and be mindful of earnings-related gaps. Fixed income as ballast: Correlations between bonds and equities have been inconsistent. Portfolio resilience may rely more on duration mix, quality, and cash buffers than on historical stock-bond relationships alone. Commodities hedge: Keep an eye on energy as a swing factor for inflation expectations and sector rotation. Bottom line The market is in a price-discovery phase for AI-linked growth stories, with higher macro uncertainty and tighter financial conditions reinforcing a “show me” mindset on earnings and capex returns. Near-term trading may remain headline-driven and uneven. Stay nimble around catalysts, prioritize liquidity, and keep portfolios balanced across factors and sectors. Connect With Our Dealing Desk Looking to restructure your portfolio amidst tech-led volatility? Speak to our DIFC-based experts for secure trading solutions. Contact Us Today Disclaimer: Trading foreign exchange and/or contracts for difference on margin carries a high level of risk, and may not be suitable for all investors as you could sustain losses in excess of deposits. The products are intended for retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. The content of the Website must not be construed as personal advice. For retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. Rolling Spot Contracts and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of our retail client accounts lose money while trading with us. You should consider whether you understand how Rolling Spot Contracts and CFDs work, and whether you can afford to take the high risk of losing your money. Daily Market Updates – July-28 July 28, 2026 28 July 2026 – Daily Market Updates Daily Market Brief:… Read More Daily Market Updates – July-27 July 27, 2026 27 July 2026

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