US stock indices close at new all-time highs again
New home sales in the US increased in July after a three-month decline, but housing market dynamics are slowing since the rise in housing prices against the background of a limited proposal displaces new buyers from the market.
Investors are now buying gold, silver, and other commodities as they do not expect Jerome Powell to announce this week that the Fed will cut the QE program. The Fed’s soft monetary policy contributes to an upward trend in commodity markets.
Oil prices have been rising for the 2nd session in a row. On the one hand, the growth of the quotes is affected by the fact that the US regulatory authorities have fully approved a vaccine against COVID-19. It will reduce the spread of Delta and lead to a resumption of demand for fuel. On the other hand, the epidemiological situation in Asian countries (except China) remains very difficult, which clouds the prospects for a quick demand recovery.
China’s central bank increased short-term injections into the financial system to calm market worries about the reduction in liquidity. As a result, Chinese companies sharply jumped yesterday. Malaysia’s consumer price index, which is responsible for inflation, increased by 2.2% in July compared to a year earlier. The number of cases of COVID-19 infection in Sydney reached the highest record on Wednesday. Officials are calling for more vaccinations to stop the wave of hospitalization. In Japan, the situation with the spread of the Delta strain is worsening. According to the Ministry of Health, the country reported 21,500 new daily cases of COVID-19 and 42 deaths on Tuesday. Eight more prefectures were added to the state of emergency, bringing the total number of prefectures under quarantine to 21. The state of emergency will last until September 12.
S&P 500 (F) 4,486.23 +6.70 (+0.15%)
Dow Jones 35,366.26 +30.55 (+0.09%)
DAX 15,905.85 +53.06 (+0.33%)
FTSE 100 7,125.78 +16.76 (+0.24%)
USD Index 92.88 -0.08 (-0.08%)
News feed for: 2023.07.04
- German Ifo Business Climate (m/m) at 11:00 (GMT+3);
- US Core Durable Goods Orders (m/m) at 15:30 (GMT+3);
- US Crude Oil Reserves (w/w) at 17:30 (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.
