Morning wrap (21.07.2021)

8:49 am 21 July 2021

  • US indices managed to recover a huge part of Monday's losses yesterday. S&P 500 added 1.52%, Nasdaq jumped 1.57% while Dow Jones moved 1.62% higher. Russell 2000 rallied 3%

  • Stocks in Asia traded mixed. Nikkei gained 0.4% while S&P/ASX 200 moved 0.8% higher. Indices from China traded mixed and Kospi moved 0.4% lower

  • DAX futures point to a flat opening of the European session

  • US Democratic Senator Manchin said that negotiators are getting closer to an agreement on the infrastructure bill. Reports surfaced saying that Senate may vote on infrastructure as soon as today

  • According to New York Times report, Johnson & Johnson one-shot vaccine was found to be less effective against Delta varian and may require additional shot to boost immunity

  • South Korean exports were 32.8% YoY higher during the first 20 days of July. Imports jumped 46.1% YoY

  • Japanese exports increased 48.6% YoY in June (exp. 46.2% YoY) while imports were 32.7% YoY higher (exp. 29% YoY higher)

  • API report pointed to a 0.8 million barrel build in oil inventories

  • Netflix (NFLX.US) reported Q2 revenue of $7.34 billion (exp. $7.32 billion) and EPS of $2.97 (exp. $3.16). Company added a net 1.54 million new subscribers during the quarter (exp. 1.19 million). Shares traded mostly flat in after-hours trading

  • Bitcoin bounced off monthly lows and climbed back above $30,000 mark

  • Precious metals trade slightly lower

  • Oil, industrial metals and agricultural commodities drop

  • USD and CHF are the best performing major currencies while AUD and CAD lag the most

US500 and other US indices launched a strong recovery move yesterday, gaining over 1%. US500 bounced off a 50-session moving average and upward trendline, and trades just 1.5% below its all-time high. Source: xStation5

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