Amazon pulled down the technology sector
Gold prices continue to rise. Gold is highly correlated to the dollar index and US Treasury bond yields. Fundamentally, as long as the Fed maintains the soft monetary policy, precious metal prices will tend to rise. But over the long term, gold has lost its lead as a defensive asset.
Oil prices continue to rise slowly. The fundamental picture is now in favor of rising prices. But don’t count on a sharp rise in prices, as OPEC+ is increasing daily oil production to compensate for the high demand in summer. On the other hand, it is worth paying attention to natural gas, which has been rising steadily since May and still has room for further growth.
The Chinese authorities managed to calm the panic sell-off in technology and education stocks. China has said it will continue to allow companies to IPO in the US if they meet all listing requirements. But despite this, the Asian stock market demonstrated its biggest monthly drop since last March. Japan’s unemployment rate decreased to 2.9% (previous 3.0%), while the job availability ratio increased (113 job openings for every 100 job seekers). But Japan’s Nikkei index fell by 1.71%, recording its 11th consecutive month of declines. Australia’s ASX 200 index decreased by 0.08%. The country’s producer price index rose by 2.2% annually and by 0.7% quarter-over-quarter in the second half of 2021. There is a decline in the delta variant cases of COVID-19 in Sydney.
S&P 500 (F) 4,419.15 +18.51 (+0.42%)
Dow Jones 35,084.53 +153.60 (+0.44%)
DAX 15,640.47 +70.11 (+0.45%)
FTSE 100 7,078.42 +61.79 (+0.88%)
USD Index 91.90 -0.42 (-0.45%)
News feed for: 2023.07.04
- Japan Unemployment Rate (m/m) at 02:30 (GMT+3);
- Germany GDP (q/q) at 11:00 (GMT+3);
- Eurozone Consumer Price Index (m/m) at 12:00 (GMT+3);
- Eurozone GDP (q/q) at 12:00 (GMT+3);
- Eurozone Unemployment Rate (m/m) at 12:00 (GMT+3);
- Canada GDP (m/m, q/q) at 15:30 (GMT+3);
- US PCE price index (m/m) at 15:30 (GMT+3);
- US Chicago PMI (m/m) at 16:45 (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.
