WASHINGTON (Reuters) - The U.S. Senate could vote again this week on whether to begin debating a key piece of President Joe Biden's agenda, a $1.2 trillion bipartisan infrastructure plan to rebuild the nation's roads and bridges, if negotiators can finalize the details of the measure.
prices surge on speculation that Amazon (NASDAQ:) is getting involved in crypto. China redoubles its onslaught against the country's tech sector, with fresh pressure on education technology and food delivery companies. Tesla (NASDAQ:) reports second-quarter earnings after the close. Stocks are set to open the week lower amid a sustained rise in Covid-19 cases in the U.S., and coffee futures hit fresh seven-year highs after last week's frosts in Brazil. Here's what you need to know in financial markets on Monday, 26th July.
FINANCIAL MARKETS(FOREX,STOCK,COMMODITIES,OTHERS): U.S.Dollar on the defensive as U.S. leaders meet o...
The dollar is on the defensive today near 2 1/2-year lows on Wednesday as progress toward a massive U.S. government expenditure bill and COVID-19 pandemic relief measures whetted risk appetite, moves towards for safe investments.
The U.S. stock indexes gains on Tuesday as profit toward a massive government expense bill and COVID-19 pandemic relief measures kept hopes high, while investors awaited for new policy measures from the Federal Bank meeting in this month.
U.S. stocks fell on Monday as a drop in oil prices dragged energy stocks lower, while the risk of an escalating tariff war between Washington and its trading partners continued to weigh on the broader market sentiment.
The United States' decision to impose tariffs on $34 billion worth of Chinese goods will come into effect on July 6, posing threats of a similar response from Beijing.
Meanwhile, the European Union has threatened to hit the United States with almost $300 billion in retaliatory tariffs, while Canada has vowed to slap punitive measures on $12.63 billion worth of American goods in response to U.S. steel and aluminum tariffs.
"I think it's (the market's decline) a continued reaction to the trade policy situation," said Brad McMillan, chief investment officer for Commonwealth Financial.
"We see the United States announce certain unilateral actions, then we're starting to see some of the responses, and I think the markets are getting increasingly worried."
Nine of the 11 main S&P 500 sectors were trading lower. They were led by a 1.38 percent fall in the energy index (SPNY) on the back of a drop in crude prices as supplies from Saudi Arabia and Russia rose. [O/R]
At 12:04 a.m. EDT the Dow Jones Industrial Average (DJI) was down 128.13 points, or 0.53 percent, at 24,143.28, the S&P 500 (SPX) was down 11.04 points, or 0.41 percent, at 2,707.33 and the Nasdaq Composite (IXIC) was down 19.18 points, or 0.26 percent, at 7,491.12.
The three major indexes however pulled back from steeper declines at the start of the session as technology stocks (SPLRCT) pared their losses and was last down 0.13 percent.
Also helping the market was Commerce Department data that showed U.S. construction spending increased 0.4 percent in May, more than estimated, amid gains in investment in private and public construction projects.
"Data came well above expectations, that says the dollar strength is not hitting U.S. manufacturers and trade at least so far," said McMillan.
Boosting the view, was the Institute for Supply Management (ISM) saying national factory activity surged last month, likely as steel and aluminum tariffs disrupted the supply chains, resulting in factories taking longer to deliver goods.
Tesla (O:TSLA) said it hit its target of producing 5,000 Model 3 sedans per week and reaffirmed its profit target. The stock, which rose as much a 6.4 percent, reversed course to trade down 1.7 percent.
Shares of Casino companies fell as gambling revenue in the Chinese territory of Macau rose less than expected in June, which Bank of America (NYSE:BAC) said was due to the FIFA World Cup, the fading policy stimulus and trade tension in China.
Wynn Resorts (O:WYNN) sank 7.9 percent, the most on the S&P 500. Las Vegas Sands (N:LVS) fell 6.9 percent after Bank of America downgraded the stock. MGM Resorts (N:MGM) dropped 2.5 percent.
Dell Technologies took a step closer to become a public company again with a deal to buy the tracking stock of its majority-owned VMware unit. The VMware tracking stock (N:DVMT) jumped 7.8 percent, while VMware (N:VMW) jumped 9.4 percent.
Declining issues outnumbered advancers for a 1.72-to-1 ratio on the NYSE and a 1.37-to-1 ratio on the Nasdaq.
The S&P index recorded one new 52-week highs and 11 new lows, while the Nasdaq recorded 31 new highs and 48 new lows.
The Major Currency Us dollar struggled against the Japanese Yen during this week. Initially It shows a strong rally in the financial market. In my opinion in the short term investments the investors invest their money in the Japanese yen, But in the long term basis it is better to invest in the us dollar. Because the U.S. dollar rallies in the long term so that the investors will expect the profits in long term. It is better to choose that the investment in U.S.dollar will get good profits.
The impact of trade war between the two major countries is also cause of the down trend of dollar in the financial market. However the us economy will recover and shows good performance in the financial sector.
Today in the wall street market the Banking and Industrial Sector stocks rallied. According Standard and Poor report these shares gained 2.2 percent which is highest in the month of July.The yielding capacity of the us economy improving slowly and steadily.
The financial experts are anticipating good returns in Us Stock market in the coming week. They also thinking the trade issues will be ignored. The trade war between the two major countries costs around 34 billion dollars. But today the issue is ignored and the markets closed higher compare with the last week.
Today in the Morning session The Dow Jones share market Average price was rose to 267.57 points, the value is 24,724.05, the S&P 500 was up 19.36 points, or 0.70 percent, at 2,779.18 and the Nasdaq value was up 38.48 points, or 0.50 percent, at 7,726.87.
Caterpillar (NYSE:CAT) rose 3.5 percent, giving the biggest tonic to the market. The S&P commercial sector climbed to 1.7 percent, with military stocks are all gaining.
Tesla (NASDAQ:TSLA) was rose to 1.1 percent after the data released to the company increased prices of its Model X and S cars by over $20,000 due to increasement of tariff in china.
After analyzed the data of the us economy once again I suggest the investors to invest their money in short term in Japanese yen. But still I strongly believe that the us economy will recover and give good yields to the investors even though it involves in the trade war.So that who want to get good yields in the long term basis it is better to invest the us dollar.
<p>The S&P 500 get profit around six points or 0.24% to 2,790.80 as of 9:39 AM ET (13:39 GMT) while the Dow composite earned 109 points or 0.44% to 24,885.76 and tech heavy NASDAQ Composite was climb over 12 points or 0.17% to 7,769.08.</p>
<p>The second quarter economy results come this week, with Delta Air Lines Inc (NYSE:DAL) publishing its business results on Wednesday, while the larger banks, including JPMorgan (NYSE:JPM) and Bank of America (NYSE:BAC), published on Friday.</p>
<p>Profit motive was caused the trade tensions as traders look for Big Tax rebates from the U.S.Government which gives good impact on their profits.</p>
<p>PepsiCo (NASDAQ:PEP) limited to 2.29% after publishing higher than expected their economic results, while Tesla (NASDAQ:TSLA) got profit around 2.19% luxury car maker is preparing to start a manufacturing unit in China. Citigroup (NYSE:C) climbed up to 0.42% while Boeing (NYSE:BA) was climbed up to 1.19% and Twitter Inc (NYSE:TWTR) got around 1.63% profit</p>
<p>On the other side Netflix (NASDAQ:NFLX) loose 0.67% while Advanced Micro Devices Inc (NASDAQ:AMD) was loose 0.75% and Amazon.com (NASDAQ:AMZN) little bit down 0.14%.</p>
<p>On the other side European stocks were mostly closed with profits. Some German companies climbed up to 74 points or 0.59% while the European country France the CAC company 40 climbed up to 33 points or 0.62% and in Britian, the FTSE 100 was climbed up 11 points or 0.15%. However the pan-European Euro Stoxx company 50 got nine points or 0.27% while the IBEX the head office is in spain 35 drop down 37 points or 0.38%.</p>
<p>In the commodities market the gold futures drop down around 0.38% to $1,254.80 Mean while The Petroleum futures climbed up to 0.96% to $74.56 for one barrel. The American dollar shows good performance against the basket of six major currencies in the Forex Market.</p>
<p>In my opinion I observe that the gold future market will give good yields in the next coming months. The reason is if the rates of petroleum products increase automatically the rate of inflation will gone up. After that the investors will think the safest zone is gold market, the funds flow in the gold market will increase. So that it will give good yields. In my yesterday's article I analyzed the us dollar position, today it happened. The investor will choose the gold market as another option to get good yields from their investments.
The Jpy, frequently sought in times of political tensions and market turmoil, gained against a number of slots following the latest anti dumping duty news. The value of the USD/JPY pair decreased to 110.85 by 12:30AM ET (04:30 GMT) after getting a seven-week high of 111.355 yen earlier on yesterday.
Meanwhile, the the Chinese yuan retreated by the most in more than 7 days as the USD/CNY pair climbed up to 0.6% to 6.6695, though it still stopped some distance from 11-month low of 6.7344 reached in previous week.
The key issue of China’s government is stability," said financial experts "If the market situation deteriorated and the Chinese yuan witnessed further downward pressure, we would expect the authorities to step in, particularly if there were signals of capital flight.
The Us Government announced on Tuesday that it would impose anti dumping duties on an extra 200 billion worth of anti dumping duties on Chinese goods, raising concerns of a full shape of trade war between the world's two largest developed nations. The consumer items are also included in the proposed list such as cloth goods, electronic components and other consumer goods as well as other technology products.
The Us Government officials said a two-months time will be taken that public would be allowed to comment on the proposed tariffs before the list is finalized, though the Us Government had told earlier that his country may finally impose tariffs on more than $500 billion dollars of tariffs on Chinese imports
On the other side , the AUD/USD pair fell 0.7% 0.7407 due to the trade war between the two major economically strong countries
The American Dollar today trade fell against a basket of currencies, around 0.14% to 93.98 on today after the news came from the Us Government.
WASHINGTON (Reuters) - The U.S. Senate could vote again this week on whether to begin debating a key piece of President Joe Biden's ag...
FINANCIAL MARKETS(FOREX,STOCK,COMMODITIES,OTHERS): U.S.Dollar on the defensive as U.S. leaders meet o...FINANCIAL MARKETS(FOREX,STOCK,COMMODITIES,OTHERS): U.S.Dollar on the defensive as U.S. leaders meet o... : The dollar is on the defensive ...
The dollar is on the defensive today near 2 1/2-year lows on Wednesday as progress toward a massive U.S. government expenditure bill and C...