On Monday, U.S. stocks closed mixed again as tech stocks lagged behind. The Dow Jones Industrial Average jumped 358 points (+1.30%) to 27791 posting a seven-session rally. The S&P 500 added 9 points (+0.27%) to 3360, while the Nasdaq 100 dropped 54 points (-0.49%) to 11085.
Dow Jones Industrial Average: Daily Chart
Source: GAIN Capital, TradingView
Automobiles & Components (+3.86%), Energy (+3.08%) and Consumer Durables & Apparel (+3.01%) sectors traded higher, while Software & Services (-1.42%), Media (-0.72%) and Pharmaceuticals, Biotechnology & Life Sciences (-0.5%) sectors were under pressure.
MGM Resorts International (MGM +13.77%), Wynn Resorts (WYNN +9.96%), Royal Caribbean Cruises (RCL +10%), United Airlines (UAL +9.35%) and Fedex (FDX +8.96%) were top gainers.
European stocks were stable. The Stoxx Europe 600 Index climbed 0.30%, Germany's DAX 30 edged up 0.10%, France's CAC 40 gained 0.41% and the U.K.'s FTSE 100 was up 0.31%.
The benchmark 10-year Treasury yield stepped up to 0.571% from 0.562% Friday.
Spot gold price was down for a second session falling $7.00 to $2,027 an ounce. Spot silver price jumped 2.8% to $29.12 an ounce, the highest close since March 2013.
U.S. WTI crude oil futures (September) charged 1.7% higher to $41.94 a barrel.
On the forex front, the ICE U.S. Dollar Index gained 0.2% on day to 93.61, up for a second straight session.
EUR/USD fell 0.4% to 1.1741. Later today, the German ZEW Current Situation Index for August will be released (-69.5 expected).
GBP/USD marked a day-low of 1.3020 before closing up 0.2% at 1.3074. Investors will focus on the U.K. jobless rate for the three months to June due later in the day (steady at 4.2% expected).
USD/JPY was little changed at 105.96.
Meanwhile, USD/CAD dropped 0.2% to 1.3357, as the Canadian dollar was lifted by a rebound in oil prices.
Other commodity-linked currencies were broadly lower against the greenback. AUD/USD slipped 0.1% to 0.7150 and NZD/USD was down 0.2% to 0.6590.
This report is intended for general circulation only. It should not be construed as a recommendation, or an offer (or solicitation of an offer) to buy or sell any financial products. The information provided does not take into account your specific investment objectives, financial situation or particular needs. Before you act on any recommendation that may be contained in this report, independent advice ought to be sought from a financial adviser regarding the suitability of the investment product, taking into account your specific investment objectives, financial situation or particular needs.
GAIN Capital Singapore Pte. Ltd., may distribute reports produced by its respective foreign entities or affiliates within the GAIN Capital group of companies or third parties pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the report is distributed to a person in Singapore who is not an accredited investor, expert investor or an institutional investor (as defined in the Securities Futures Act), GAIN Capital Singapore Pte. Ltd. accepts legal responsibility to such persons for the contents of the report only to the extent required by law. Singapore recipients should contact GAIN Capital Singapore Pte. Ltd. at 6826 9988 for matters arising from, or in connection with the report.
In the case of all other recipients of this report, to the extent permitted by applicable laws and regulations neither GAIN Capital Singapore Pte. Ltd. nor its associated companies will be responsible or liable for any loss or damage incurred arising out of, or in connection with, any use of the information contained in this report and all such liability is hereby expressly disclaimed. No representation or warranty is made, express or implied, that the content of this report is complete or accurate.
GAIN Capital Singapore Pte. Ltd. is not under any obligation to update this report.
Trading CFDs and FX on margin carries a high level of risk that may not be suitable for some investors. Consider your investment objectives, level of experience, financial resources, risk appetite and other relevant circumstances carefully. The possibility exists that you could lose some or all of your investments, including your initial deposits. If in doubt, please seek independent expert advice. Visit cityindex.com.sg for the complete Risk Disclosure Statement.
Cryptocurrencies are not legal tender currency and trading of derivatives on Cryptocurrencies are currently not covered under any regulatory regime in Singapore. Consequently, investors should be aware they do not have protection under the Securities and Futures Act (Cap. 289). Please ensure that you are fully aware of the risks.