Morgan Stanley once again recommends shorting the euro against the Swiss franc as eurozone risks rise

(1) On Thursday, international crude oil prices reached $93.1 per barrel, hitting a near one-month high as supply disruption risks intensified. (2) The White House has asked the Pentagon to draw up strike plans against Iran, which could be implemented before the midterm elections; on Wednesday, the US President stated that he will no longer seek an agreement with Iran. (3) Incidents of shipping attacks have increased in the Gulf region and the Strait of Hormuz, and the Houthi armed group has intensified its attacks on Saudi Arabia, further raising geopolitical risks and crude oil risk premiums. (4) Tropical Storm Isaias is approaching the Gulf of Mexico, prompting companies such as Chevron and Shell to cut production and evacuate offshore platform personnel, thus providing support to oil prices. (5) According to the Bureau of Ocean Energy Management, as of Wednesday, approximately 24.3% of crude oil production capacity and 15.7% of natural gas production capacity in the US Gulf of Mexico have been halted due to the storm.

According to Zhitong Finance APP, following a record high achieved by the Nasdaq Composite Index and a new all-time high for Nvidia, the "AI chip superpower" that holds significant weight in both the Nasdaq and S&P 500 indexes, the U.S. stock market is about to kick off its Q3 earnings season. Global investors are becoming increasingly enthusiastic about the possibility that U.S. companies’ revenue and profits will exceed expectations, especially among tech giants closely associated with AI computing power, whose performance may surpass analysts' forecasts.

Porsche plans to increase the average price of its most expensive models by about 20% by 2030, emulating Ferrari’s strategy of boosting profits by enhancing product exclusivity. On Wednesday, Porsche CEO Oliver Blume announced during an Investor Day event a multi-year revitalization plan aimed at reviving performance by reducing vehicle sales and shifting toward higher-end models. Blume stated: “We want to further elevate our brand positioning, maintain Porsche’s uniqueness, and enhance our pricing power.” By 2030, the average price of Porsche’s top models will rise from around €270,000 this year to more than €330,000. Meanwhile, the share of top models in its product portfolio is expected to increase from roughly one-third to 45%. Blume’s strategy will significantly reduce Porsche’s business scale, lowering the number of vehicles required for profitability to under 200,000 units. On Wednesday, Porsche maintained its targets of achieving a 10% to 15% operating profit margin and a maximum net cash flow margin for its automotive business of up to 12% by 2030. The company also plans to reach a 15% profit margin by 2035.

The main contract of Brent crude oil futures has just surpassed the $105.00 per barrel mark, last trading at $105.01 per barrel, up 4.07% on the day.