The Wall Street surges back towards record highs after surprisingly weak producer prices, pricing in a Fed pause in September as oil prices slide below $81 amidst the Hormuz deadlock – Lenovo electrifies the AI rally while Cisco and Cerebras disappoint with cautious outlooks – the bond market stirs new fears with the highest 30-year financing rates in a quarter of a century, while the DAX remains less than 150 points below its record

USA & MACRO-ENVIRONMENT The US markets continue their upward movement and approach new record highs The S&P 500 is edging closer to its all-time high after two consecutive winning days, while the Nasdaq 100 leads with an increase of +1.24%. The trigger for this buying mood is a surprisingly tame inflation report. The Producer Price Index (PPI) rises only by 4.7% in July compared to the previous year, down from 5.5% in June – month-over-month, prices even stagnate. Declining energy and food costs temper the price pressure that has...