Gold Price page 2

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 and Tesla. The S&P 500 fell 2.2%, the steepest drop since December 15, 2022. The NASDAQ Composite slid 3.6%, and the Dow Jones Industrial Average dropped 504 points, or 1.3%.

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.

Key events: USA - Average Hourly Earnings (MoM) (Jun) USA - Nonfarm Payrolls (Jun) USA - Unemployment Rate (Jun) USA - Fed Monetary Policy Report European shares rose on Thursday, driven by hopes for potential US interest rate cuts following weak economic data. Simultaneously, London's markets surged as voting commenced in the UK general election, with polls indicating a historic Labour Party victory.

Key events: USA - S&P Global US Manufacturing PMI (Jun) USA - ISM Manufacturing PMI (Jun) USA - ISM Manufacturing Prices (Jun) US stocks fell after Friday's close, with significant declines in the Consumer Goods, Utilities, and Consumer Services sectors dragging shares down. At the end of the trading session on the NYSE, the Dow Jones Industrial Average dropped by 0.12%, the S&P 500 index decreased by 0.41%, and the NASDAQ Composite index fell by 0.76%.

Key events: UK - GDP (QoQ) (Q1) USA - Core PCE Price Index (YoY) (May) USA - Core PCE Price Index (MoM) (May) USA - Chicago PMI (Jun) The S&P 500 managed a slight gain on Thursday as investors balanced a decline in chipmaker Micron against gains in consumer stocks, just ahead of key inflation data. The Dow Jones Industrial Average increased by 36 points, or 0.1%, the S&P 500 added 0.1%, and the NASDAQ Composite rose by 0.30%.

Key events: USA - FOMC Member Bowman Speaks USA - CB Consumer Confidence (Jun) A broad stock market rally pushed the blue-chip Dow to a one-month high on Monday, as investors shifted away from AI-linked stocks and added laggards to their portfolios, anticipating Federal Reserve interest rate cuts this year.

Key events: Eurozone - Deposit Facility Rate (Jun) Eurozone - ECB Interest Rate Decision (Jun) USA - Initial Jobless Claims Eurozone - ECB Press Conference The S&P 500 and Nasdaq reached new record highs on Wednesday, driven by Nvidia's strong performance in the tech sector and declining Treasury yields. These market movements were influenced by further signs of a cooling labor market, which boosted hopes for a potential interest rate cut by the Federal Reserve later this year.

Key events: USA - Nonfarm Employment Change (May) USA - S&P Global Services PMI (May) Canada - BoC Interest Rate Decision USA - ISM Non-Manufacturing PMI (May) USA - ISM Non-Manufacturing Prices (May) USA - Crude Oil Inventories The Dow closed higher on Tuesday as a significant drop in job openings to a three-year low pointed to weaker economic growth, raising hopes for a Federal Reserve rate cut later this year.

Key events: Eurozone - ECB President Lagarde Speaks USA - Fed Governor Kroszner Speaks USA - Fed Waller Speaks USA - FOMC Member Williams Speaks USA - FOMC Member Bostic Speaks USA - Fed Vice Chair for Supervision Barr Speaks UK - BoE Gov Bailey Speaks Monday saw the Nasdaq reaching an unprecedented high, while gold soared to its peak as investors grappled with hawkish statements from the Federal Reserve alongside signs of moderating US inflation.

Key events: UK - BoE Interest Rate Decision (Apr) UK - BoE Gov Bailey Speaks UK - BoE MPC Member Pill Speaks Eurozone - ECB's De Guindos Speaks USA - Initial Jobless Claims USA - FOMC Member Daly Speaks Wednesday saw the S&P 500 closing on a neutral note, with the recent market surge hitting a pause amidst the backdrop of climbing Treasury yields and a mixed bag of corporate earnings reports, dampening investor sentiment.