Stock markets close flat after US Fed rate hike

• Braskem released its second-quarter 2026 financial results and hosted an earnings call on Friday. • The company reported a 73% increase in the polyethylene spread—the difference between the price of the finished plastic and the raw material—in the United States.

• Wall Street stocks closed higher on Thursday as investors reacted to falling oil prices, lower Treasury yields, and positive labor data. • Financial markets now price in a 53.1% chance of a 25-basis-point interest rate hike at the next Federal Reserve meeting in October, up from 27.2% last week.

• The S&P 500 fell on Friday, putting the index on track for a losing week. • Nearly 90% of economists surveyed by CNBC expected a 25 basis point tightening, which is a 0.25% increase in interest rates.

• The FTSE 100 index is expected to rise on Thursday as investors anticipate the Bank of England's latest interest rate decision. • The day's economic calendar includes the UK rate announcement alongside final inflation figures from the eurozone and trade data from Switzerland.

• Armin Papperger, head of the German defense company Rheinmetall, recently stated that Germany's missile stocks remain at alarmingly low levels. • Papperger noted that the current shortage persists because it is simply impossible to produce missiles fast enough to meet demand.

• The Bank of Italy published research in June showing that gas price shocks create more persistent inflation than oil shocks. • These gas-driven price increases seep into the underlying inflation metrics most closely monitored by the European Central Bank.

• CAE held its first-quarter 2027 earnings conference call on Thursday to discuss company performance and strategic partnerships. • The company maintains active collaborations with major aerospace and defense firms including Boeing, Airbus, Leonardo, and Shield AI.

• Banco BBVA Argentina held its second-quarter 2026 earnings conference call on Friday to discuss financial performance and asset quality. • The bank reported a non-performing loan ratio of 6.09%, which is an increase of 49 basis points during the quarter.

• US stocks fell on Friday as investors reacted to higher Treasury yields, volatile oil prices, and a recent Federal Reserve interest rate hike. • The Dow Jones Industrial Average dropped 0.38%, the S&P 500 fell 0.22%, and the Nasdaq slipped 0.16%.

• Canadian Imperial Bank held its third-quarter 2026 earnings conference call on Thursday to discuss financial performance and strategic growth. • The bank partnered with Bank of N.T. Butterfield & Son to sell a 92% stake in CIBC Caribbean and acquired a minority share in Ann Partners.

• The U.S. Federal Reserve implemented a hawkish interest rate hike to combat inflation. • Citi Research reports that the spot premium—the price difference between immediate and future Brent crude oil contracts—has widened significantly.