Daily Market Analysis
July 26, 2024
Key events:
USA - Core PCE Price Index (MoM) (Jun)
The S&P 500 closed lower on Thursday, giving up earlier gains as a slump in Alphabet led to a halt in the tech sector's rebound. This occurred despite growing optimism that the Federal Reserve might deliver multiple rate cuts this year.
The…
July 25, 2024
Key events:
USA - Durable Goods Orders (MoM) (Jun)
USA - GDP (QoQ) (Q2)
USA - Initial Jobless Claims
The S&P 500 experienced a significant decline on Wednesday, marking its largest one-day loss since 2022, as tech stocks plummeted following disappointing second-quarter earnings from Alphabet…
July 24, 2024
Key events:
USA - S&P Global US Manufacturing PMI (Jul)
USA - S&P Global Services PMI (Jul)
Canada - BoC Interest Rate Decision
USA - New Home Sales (Jun)
USA - Crude Oil Inventories
The S&P 500 closed lower on Tuesday amid cautious trading ahead of quarterly earnings from major tech…
July 23, 2024
Key events:
Eurozone - ECB's Lane Speaks
Eurozone - Eurogroup Meetings
Canada - New Housing Price Index (MoM) (Jun)
USA - Existing Home Sales (Jun)
The S&P 500 surged on Monday, led by a tech stock rebound spearheaded by Nvidia, following recent weakness, as investors anticipated quarterly…
July 22, 2024
Key events:
Eurozone - Eurogroup Meetings
Global stock indices tumbled on Friday as a widespread cyber outage disrupted operations across various industries, shaking investor confidence. Concurrently, the dollar strengthened and Treasury yields rose.
The S&P 500 and Nasdaq experienced their…
July 19, 2024
Key events:
UK - Core Retail Sales (MoM) (Jun)
Canada - Core Retail Sales (MoM) (May)
USA - FOMC Member Williams Speaks
USA - FOMC Member Bostic Speaks
The S&P 500 slumped for a second consecutive day on Thursday, experiencing wild swings as the early-day rebound in tech faded amid an ongoing…
July 18, 2024
Key events:
UK - Unemployment Rate (May)
Eurozone - Deposit Facility Rate (Jul)
Eurozone - ECB Interest Rate Decision (Jul)
USA - Initial Jobless Claims
USA - Philadelphia Fed Manufacturing Index (Jul)
Eurozone - ECB Press Conference
The Dow surged on Wednesday, led by gains in financial and…
July 17, 2024
Key events:
UK - CPI (YoY) (Jun)
Eurozone - CPI (YoY) (Jun)
USA - Crude Oil Inventories
The Dow had its best day in over a year on Tuesday, closing at fresh record highs, buoyed by better-than-expected retail sales data and a series of mostly positive quarterly earnings reports.
The Dow Jones…
July 16, 2024
Key events:
USA - Core Retail Sales (MoM) (Jun)
USA - Retail Sales (MoM) (Jun)
The Dow closed at record highs on Monday, driven by increased expectations for a September rate cut following comments from Fed Chief Jerome Powell, who expressed greater confidence due to recent inflation data.
The…
July 15, 2024
Key events:
China - GDP (YoY) (Q2)
USA - Fed Chair Powell Speaks
USA - FOMC Member Daly Speaks
The Dow nearly set a new closing record, coming close after reaching an all-time high on Friday, despite a slight rise in wholesale inflation. Investors were buoyed by better-than-expected quarterly…
July 12, 2024
Key events:
USA - PPI (MoM) (Jun)
Canada - Building Permits (MoM) (May)
USA - Michigan Consumer Sentiment
US stocks fell on Thursday despite inflation data suggesting a slowdown in the US economy, which raised the possibility of Federal Reserve interest rate cuts later this year.
The S&P 500…
July 11, 2024
Key events:
UK - GDP (MoM) (May)
USA - Core CPI (MoM) (Jun)
USA - Initial Jobless Claims
USA - 30-Year Bond Auction
The S&P 500 closed above 5,600 for the first time on Wednesday, propelled by tech stocks and continued hopes for an earlier rate cut as Fed Chair Jerome Powell delivered his…