The S&P 500 closed lower on Tuesday, but tech stocks showed signs of life
On Tuesday, the main U.S. stock indexes showed negative dynamics, but by the end of the trading day it recovered their positions. At the moment, the investor sentiment is very mixed. On the one hand, the economy is filling up with cheap money, but on the other hand, there are growing concerns about rising inflation, which could stimulate the Fed to tighten monetary policy.
The price of the gold declined sharply during the American trading session but recovered a bit by the end of the day. Investors want to wait for the macroeconomic data on the U.S. inflation, which will be published later this week. Also, the gold price is affected by reports on the U.S. Treasury bond yields, which are expected to be released today and tomorrow.
Prices for “Black Gold” continue to move higher. While the Colonial Pipeline is recovering, the U.S. eastern states are already experiencing fuel shortages, and refiners in the Gulf of Mexico are unable to increase production to cover those losses. A report on oil inventories is expected from the Energy Department today.
Concerns about rising inflation have also affected Asian markets. As a result of the panic sales, Asian stocks fell to their lowest level in seven weeks. Asia-Pacific’s broadest index of stocks outside Japan, MSCI, lost another 1.5%, with all major indices being under strong selling pressure. Also, Taiwan warned of an extremely serious situation with COVID-19 on the island.
S&P 500 (F) 4,152.10 -36.33 (-0.87%)
Dow Jones 34,269.16 -473.66 (-1.36%)
DAX 15,119.75 -280.66 (-1.82%)
FTSE 100 6,947.99 -175.69 (-2.47%)
USD Index 90.19 -0.03 (-0.03%)
News feed for: 2023.07.04
- UK Gross Domestic Product (q/q) at 09:00 (GMT+3);
- UK BOE Governor Andrew Bailey Speaks at 12:00 (GMT+3);
- European Commission Economic Forecasts (q/q) at 12:00 (GMT+3);
- US Consumer Price Index (m/m) at 15:30 (GMT+3);
- US Core CPI (m/m) at 15:30 (GMT+3);
- US Crude Oil Reserves (w/w) at 17:30 (GMT+3);
- US 10y Bond Auction (m/m) at 20:01 (GMT+3).
This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.
