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31 Jun 《International Market Focus》corporate earnings report is mixed, US stocks fell

United States: US-China talks triggered trade tensions, corporate earnings were mixed, and US stocks fell. The US stock market Dow Jones index fell 23.33 points, or 0.09%, to close at 27,198.02 points. The Nasdaq index fell 19.72 points, or 0.24%, to close at 8,273.61 points. The S&P 500 index fell 7.79 points, or 0.26%, to close at 3,013.18 points.

 

US: The Conference Board announced that the US consumer confidence index rose from 124.3 to 135.7 in July, much higher than the Wall Street Journal analysts´ expectations of 124.8, and the consumer economic status index rose from 164.3 to 170.9. The expectation index rose from 97.6 to 112.2.

 

US: US Commerce Secretary Wilbur Ross said on Tuesday that US President Trump may respond to US technology companies´ application for Huawei´s export license before next week.

 

Europe: The market waits for the US Federal Reserve (Fed) interest rate decision. It is expected that the Fed will cut interest rates by 1 yard. Today (30) before the European stock market, index futures are mixed.

 

Southeast Asia: The market is waiting for the Fed meeting. The Southeast Asian stock market is intricate. The Indonesian stock market rose by 1.24% and the Vietnamese stock market fell by 10.19%.

 

Commodity: Gold futures closed higher on Tuesday, rising for the third consecutive day. The data shows that the US economy is still healthy and inflation is low. Investors are waiting for the Federal Reserve to announce interest rate resolutions on Wednesday. Gold therefore rose $9.30, or 0.7%, to close at $1,429.70 an ounce.

 

Commodities: China and the United States have also seen trade negotiations as a positive factor, even though President Trump has some pessimistic comments on Twitter. WTI crude oil futures for September delivery rose $1.18 or 2.1% to close at $58.05 a barrel.

 

Currency: Yesterday (30th) Forex trading, the US dollar index narrowed by 0.01%, rising for the eighth consecutive trading day. On the day before the FedEx Money Conference (FOMC), the market waited for interest rate decision results, and the Fed is expected to cut interest rates for the first time in 10 years.

 

 

Information contained herein is based on data obtained from recognized statistical services, issuer reports or communications, or other sources believed to be reliable. However, we do not verify such information. We do not guarantee its accuracy or completeness, nor do we take responsibility for any loss occasioned by reliance placed upon the contents hereof. Any statements nonfactual in nature constitute only current opinions, which are subject to change.  PC Securities Ltd (or one of its affiliates) or their officers, directors, analysts, or employees may have positions in securities or commodities referred to herein, and may, as principal or agent, buy and sell such securities or commodities.  Neither the information nor opinion expressed in this report shall constitute a solicitation to buy or sell any securities.

 

2019-07-31   Back