Crude Oil Inventories

Key events: USA - Initial Jobless Claims USA - US President Trump Speaks USA - Crude Oil Inventories The S&P 500 inched closer to its all-time high on Wednesday, buoyed by a tech-driven surge led by Netflix and a rally in AI stocks following US President Donald Trump’s announcement of a $500 billion initiative to bolster domestic AI development.

Key events: USA - Crude Oil Inventories The S&P 500 ended Thursday nearly unchanged after fluctuating between gains and losses amid reduced trading activity during a shortened holiday week. By the session’s close, the S&P 500 dipped 0.1%, and the NASDAQ Composite matched the same loss, while the Dow Jones Industrial Average edged up 0.07%, or 28 points. Technology heavyweights showed mixed performance, with Apple slightly gaining despite a bullish upgrade from Wedbush.

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Key events: New Zealand - RBNZ Interest Rate Decision UK - CPI (YoY) (Jul) USA - Core CPI (MoM) (Jul) USA - CPI (YoY) (Jul) USA - CPI (MoM) (Jul) USA - Crude Oil Inventories US stocks surged on Tuesday as more evidence of cooling inflation bolstered expectations for a potential Federal Reserve rate cut as early as next month, leading to a significant drop in Treasury yields.

Key events: USA - Crude Oil Inventories USA - 10-Year Note Auction The S&P 500 closed higher on Tuesday as investors sought to capitalize on the previous day's selloff, particularly in beaten-down tech stocks. However, gains were capped due to ongoing concerns about an economic slowdown. The Dow Jones Industrial Average rose by 293 points, or 0.8%, the S&P 500 increased by 1%, and the NASDAQ Composite gained 1%, though both the S&P 500 and NASDAQ were up more than 2% earlier in the day.

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: New Zealand - GDP (QoQ) (Q1) Switzerland - SNB Interest Rate Decision (Q2) UK - BoE Interest Rate Decision (Jun) USA - Initial Jobless Claims USA - Philadelphia Fed Manufacturing Index (Jun) USA - Crude Oil Inventories Asian stocks paused on Thursday, remaining near their highest levels in two years as traders awaited further US policy signals. Meanwhile, the British pound held steady ahead of a Bank of England meeting, where interest rates are expected to stay unchanged.

Key events: Eurozone - European Central Bank Non-monetary Policy Meeting USA - Crude Oil Inventories USA - 10-Year Note Auction On Tuesday, the S&P 500 managed to secure a modest gain, supported by a decline in Treasury yields, as investors grappled with a multitude of corporate earnings reports, notably including disappointing subscriber growth figures from Disney.

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