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Wall Street indices rally higher today. S&P 500 and Russell 2000 trade 1.2% higher, Nasdaq surged 1.8%, Dow Jones gains 0.7%
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Nvidia is set to report fiscal-Q2 2024 (May-July 2023) earnings report today after close of the session. Release will turn out to be a test to an AI-driven rally in tech shares
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According to Russian authorities, Yevgeny Prigozhin, leader of PMC Wagner, was among passenger of a jet that crash near Moscow today and was killed in the accident
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Investors pared hawkish BoE and ECB bets following release of dismal PMIs for August. Traders now see an around 40% chance of 25 bp ECB rate hike in September and BoE rate peak below 5.90%
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In spite of poor PMIs, European stock market indices finished today's trading higher - German DAX gained 0.2%, French CAC added 0.1% and UK FTSE 100 jumped 0.7%
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German manufacturing PMI moved from 38.8 to 39.1 in August (exp. 38.7) while services gauge dropped from 52.3 to 47.3 (exp. 51.5)
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French manufacturing PMI moved from 45.1 to 46.4 in August (exp. 45.1) while services gauge dropped from 47.1 to 46.7 (exp. 47.4)
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Euro area manufacturing PMI moved from 42.7 to 43.7 in August (exp. 42.6) while services gauge dropped from 50.9 to 48.3 (exp. 50.5)
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UK manufacturing PMI moved from 45.3 to 42.5 in August (exp. 45.0) while services gauge dropped from 51.5 to 48.7 (exp. 50.9)
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US manufacturing PMI dropped from 49.0 to 47.0 in August (exp. 49.3) while services gauge dropped from 52.3 to 51.0 (exp. 52.2)
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US new home sales for July came in at 0.714 million (exp. 0.705 million)
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Canadian headline retail sales increased 0.1% MoM in June (exp. 0.0% MoM) while sales excluding autos were 0.8% MoM lower (exp. +0.3% MoM)
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EIA report showed a big 6.13 million barrel drop in US crude inventories (exp. -2.9 mb) while gasoline stockpiles increased by 1.47 mb (exp. -1.0 mb) and distillate inventories were 0.94 mb higher (exp. +0.3 mb)
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New Zealand retail sales dropped 1.0% QoQ in Q2 2023 (exp. -0.2% QoQ)
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Cryptocurrencies are rebounding today with Bitcoin trading 2.8% higher, Dogecoin jumping 4.6% and Ethereum trading almost 5% higher
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Energy commodities traded lower today - oil drops 0.3% while US natural gas prices plunge 2.2%
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Precious metals gained on today's USD weakness - gold trades 1.1% higher, platinum adds 1% while silver surges 4%!
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AUD and JPY are the best performing major currencies while USD and GBP lag the most
US100 managed to recover from losses made during the European session and leaped to the highest level in a week, breaking above the upper limit of a local market geometry in the process. Source: xStation5
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