Daily Market Analysis page 8

The Dow surged on Friday, marking its fourth consecutive weekly gain, buoyed by strong corporate earnings and data indicating cooling inflation, which fueled optimism for an upcoming interest rate cut. The Dow Jones Industrial Average climbed 654 points, or 1.6%. Both the S&P 500 and NASDAQ…

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…

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…

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…

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…

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…

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…

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…

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…

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…

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…

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…