Top daily news
Equity markets are retreating currently after SP500, Dow and Nasdaq ended the week lower on Friday while 10-year Treasury yields slipped to 1.282% as investors bid up safe haven assets. Apple shares lost 1.41% as the tech giant removed Fakespot, a well-known app for detecting fake product reviews, from its App Store after Amazon complained the app provided misleading information and potential security risks. Amazon shares fell 1.59% underperforming market.
The Dollar strengthening continues currently. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, gained 0.2% on Friday after Census Bureau report retail sales unexpectedly rose 0.6% last month.
Both GBP/USD and EUR/USD continued sliding Friday after Eurostat report euro-zone trade surplus declined less than expected in May. USD/JPY continued its climbing Friday as AUD/USD kept retreating with Australian dollar lower against the Greenback currently while yen higher.
Stock Market news
|Dow Jones Index||-0.52%|
|Hang Seng Index||-2.15%|
|Australian Stock Index||-0.02%|
Futures on US equity benchmarks are down currently as the three main US stock benchmarks recorded daily losses ranging from 0.75% to 0.86% Friday. The earnings season continues with Netflix, Intel, Coca Cola and Philip Morris among companies expected to report quarterly earnings this week. US stocks ended last week lower despite positive second quarter corporate reports.
European stock indexes are retreating currently after ending lower on Friday with mining stocks leading losses. Asian indexes are mixed today with Nikkei index leading losses.
Commodity Market news
|Brent Crude Oil||-0.84%|
Brent is edging lower currently as OPEC+ ministers agreed on Sunday to increase oil supply from August. OPEC+ agreed on new production quotas for several members from May 2022, including the United Arab Emirates, Saudi Arabia, Russia, Kuwait and Iraq. Prices ended higher on Friday but ended the week lower. West Texas Intermediate (WTI) futures rose 0.2% but is lower currently. September Brent crude added 0.2% to $73.59 a barrel on Friday.
Gold Market News
Gold prices are edging lower today. August gold lost 0.8% settling at $1815 on Friday, posting the fourth weekly gain in a row.