On Friday, U.S. stocks closed mixed. The Dow Jones Industrial Average was down for a second session easing 62 points (-0.23%) to 26671. The S&P 500 added 9 points (+0.28%) to 3224, and the Nasdaq 100 was up 18 points (+0.18%) to 10645.
Dow Jones Industrial Average Index: Daily Chart
Source: GAIN Capital, TradingView
Utilities (+2.28%), Health Care Equipment & Services (+1.81%) and Real Estate (+1.4%) sectors performed the best, while Banks (-2.32%), Energy (-1.52%) and Automobiles & Components (-1.02%) sectors were laggards. BlackRock (BLK +3.66%) jumped on better-than-expected earnings and assets under management. Netflix (NFLX -6.52%) fell on downbeat results.
On the technical side, about 52.2% (52.0% in the prior session) of stocks in the S&P 500 Index were trading above their 200-day moving average, and 80.4% (82.8% in the prior session) were trading above their 20-day moving average.
U.S. official data showed that Housing Starts rose to an annualized rate of 1.186 million units in June (1.190 million units expected). The University of Michigan's Consumer Sentiment Index (preliminary reading) unexpectedly fell to 73.2 in July (79.0 expected).
Meanwhile, the coronavirus pandemic keeps exploding across the world. The number of confirmed virus deaths has exceeded 600,000 globally, and topped 140,000 in the U.S.
European stocks also ended mixed. The Stoxx Europe 600 Index added 0.16%. Germany's DAX 30 gained 0.35%, the U.K.'s FTSE 100 rose 0.63%, while France's CAC 40 was down 0.31%.
The benchmark U.S. 10-year Treasury yield sank climbed to 0.628% from 0.614% Thursday.
Spot gold price rebounded $12.00 (+0.7%) to $1,810 an ounce.
U.S. WTI crude oil futures (August) slipped 0.4% to $40.59 a barrel.
On the forex front, the U.S. dollar weakened against its major peers, with the ICE Dollar Index dropping 0.3% on day to 96.01.
EUR/USD climbed 0.4% to 1.1428. It is reported that the European Union leaders were yet to agree on the size of a stimulus package, where oppositions led by Dutch Prime Minister Mark Rutte demanded a substantially less figure.
GBP/USD gained 0.1% to 1.2567.
USD/JPY fell 0.3% to 107.00. This morning, government data showed that Japan's exports plunged 26.2% on year in June (-24.7% expected) and imports slid 14.4% (-17.6% expected).
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.