Market Update US, Europe & Asia

Market Update US, Europe & Asia FSA Competence Center Equities | 6 August 2026 | Page 1 of 11

Equity Market Previous Close 1-Day (%) 1-Day (Chg) WTD MTD QTD YTD 12-Month US Dow Jones Nasdaq Mexico Brazil Europe UK France Germany Spain Switzerland Japan Hong Kong China India

Commodities Last 1-Day (%) 1-Day (Chg) WTD MTD QTD YTD 12-Month Volatility Gold Oil Thomson Reuters/Core Commodity Bloomberg Commodity Index USD/JPY EUR/USD GBP/USD EUR/CHF

Fixed Income 2y 5y 10y 2s10s 10y Swap Core Indicators (bps) Spread US Germany UK Japan -

U.S. Markets Recap Dow +0.49%, US -0.17%, Nasdaq -0.83%

Synopsis • US equities finished mostly lower in Wednesday trading, ending near worst levels after spending much of the afternoon near the unchanged mark. Big tech was mostly down though NVDA was a notable Mag 7 gainer. Semis/memory space was largely lower after yesterday's big rally, software was more mixed. Laggards included energy, utilities, REITs, PE, regional banks, department stores, grocers/staples retailers, food, telecom, and media. Outperformers included pharma (LLY), larger-cap banks, IBs, airlines, multis, building products, industrial/precious metals, homebuilders, restaurants, hotels, and cruise lines. Treasuries a bit firmer across the curve; yields were down 1-2 bp. Dollar index was off 0.1%. Gold finished up 3.7% (its best day since February); silver was up 3.4%. Bitcoin futures were up 1.0%. WTI crude settled down 0.7%, its third straight decline. • Another heavy earnings day with more than 75% of S&P 500 having now reported. Earnings beat rate remains elevated at ~86%, while top-line beat rate also strong at 76%+. SPCX was hit by elevated capex. LLY beat and raised with Mounjaro/Zepbound sales above. AMD was down with focus on very high bar. ANET up on big beat and raise with focus on leverage to AI networking cycle. DIS was boosted by OI beat, strong Parks trends. SHOP was up big on broad-based strength and AI-driven momentum. BKNG was up with takeaways focused on resilient travel demand. UBER was down despite Q2 GB acceleration and EBITDA beat. CVS takeaways generally positive but also concerns about Pharmacy Services headwinds. EMR beat but Middle East still an overhang. Other earnings gainers included ZBH, BWA, WYNN,

Market Update US, Europe & Asia FSA Competence Center Equities | 6 August 2026 | Page 2 of 11

ELAN, OC, and FRPT. Earnings-linked decliners included CDW, LSCC, PINS, DVA, NYT, PODD, SEDG, MTCH, and TDC. Outside of earnings, AZN helped by report no merger discussions with BMY taking place.

Macro • July ISM services printed at 54.1, a bit weaker than forecasts for 54.5; not far from June's 54.0. New orders better while employment slipped into contraction. July ADP private payrolls rose by 44K, lighter than 70K consensus and June's downwardly revised 95K (was 98K). Release noted decline in goods-producing employment. As expected, Treasury's Q3 refunding kept auction sizes unchanged and maintained guidance for no change across next several quarters. In Fedspeak, Minneapolis's Kashkari said now is the time to start slowly moving interest rates up. Fed Governor Cook and SF's Daly speak after the close. Thursday brings initial claims, preliminary Q2 nonfarm productivity and unit labor costs, and June wholesale inventories. St. Louis Fed President Musalem speaks after the close. July employment report caps off the week on Friday.

Notable Movers • +17.0% SHOP (Shopify): Q2 revenue and FCF beat with strong results across both Subscription and Merchant; GMV posted 30%+ y/y growth for the fifth consecutive quarter with improvement across all merchant sizes/channels/geographies; raised Q1 revenue-growth guidance. • +14.6% FRPT (Freshpet): Q2 sales and EBITDA beat and company raised FY guidance and long-term GM outlook; noted despite macro headwinds and heightened competition, it grew significantly faster than category; takeaways positive on guidance raise, upgraded GM outlook, distribution gains, progress on initiatives. • +11.4% CRL (Charles River Laboratories): Q2 earnings and revenue beat; highlighted sequential OM improvement and highest organic growth since Q3'23; noted DSA boost from higher study volume and Manufacturing…