Stocks rebound pauses while US economy returns to pre-pandemic level
|Top daily news
Global stock markets are down currently after Wall Street advanced on Thursday as US GDP grew at a 6.5% annualized rate returning to its pre-pandemic level in the second quarter. Amazon shares fell 0.84% underperforming the market while the company reported lower-than-expected revenue and sales growth in the coming quarters. Microsoft shares added 0.1% amid news Microsoft and British multinational telecommunications holding company BT have formed a strategic partnership that involves transitioning of BT’s global managed voice services to the cloud.
Forex news
| Currency Pair | Change |
| EUR USD | -0.05% |
| GBP USD | -0.03% |
| USD JPY | +0.03% |
| AUD USD | -0.5% |
The Dollar strengthening has resumed currently. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, lost 0.3% as the US Labor Department reported 400 thousand Americans sought unemployment benefits over the last week, down from 424 thousand the previous week.
Both GBP/USD and EUR/USD accelerated their advancing Thursday as the European Commission reported euro-zone economic sentiment notched a record high in July. Both pairs are lower currently. AUD/USD continued climbing while USD/JPY reversed its rising yesterday with both Australian dollar and yen lower against the Greenback currently.
Stock market news
| Indices | Change |
| Dow Jones Index | -0.24% |
| Nikkei Index | -1.78% |
| Hang Seng Index | -0.22% |
| Australian Stock Index | -0.53% |
Futures on three main US stock indexes are down currently after second-quarter earnings reports continued to beat expectations Thursday with US Treasury yields retreating after rising Thursday on U.S. economic growth data. The three main US stock benchmarks recorded daily gains in the range of 0.1% to 0.4% Thursday.
European stock indexes are lower currently after closing higher Thursday with basic resources and autos shares leading gains. Asian indexes are down today with Nikkei leading losses.
Commodity market news
| Commodities | Change |
| Brent Crude Oil | -0.17% |
| WTI Crude | -0.27% |
Brent is edging lower today. Oil prices ended higher yesterday after the Energy Information Administration report previous day US crude oil inventories fell by 4.1 million barrels last week. The US oil benchmark West Texas Intermediate (WTI) futures rose 1.7% but is lower currently. September Brent crude gained 1.75% to $76.05 a barrel on Thursday.
Gold market news
| Metals | Change |
| Gold | -0.09% |
Gold prices are edging lower today. December gold jumped 1.7% to $1,835.80 an ounce on Thursday, highest close in over six weeks.
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