- Global equities rose for a second day
- US crude stocks rise for 1st time in over 2 months
- Bitcoin price returned above $30,000
European indices extended yesterday gains as investors focused on second-quarter earnings and expectations that the ECB will maintain its dovish tone during tomorrow’s meeting. SAP lifted its outlook for the second time this year due to accelerating growth for its cloud portfolio, while ASML, one of the leading suppliers to semiconductor companies worldwide, posted 38% higher profit in the second quarter. DAX 30 rose 1.36%, CAC40 gained 1.85% and FTSE 100 finished 1.75% higher.
US indices are also trading higher as upbeat earnings reports from Dow members Coca-Cola and Johnson & Johnson added to the bullish sentiment. On the other hand, Netflix earnings were lower-than-expected and third-quarter subscriber guidance disappointed. The risk appetite is reflected by solid performance of energy, travel-related and other cheap cyclical stocks. United Airlines expects a strong rebound in the industry, hoping for a complete return to demand in 2023. One of the highlights of the day was the EIA's oil stocks report. The data came as a surprise as US black gold inventories unexpectedly rose for the first time since May, although market consensus was pointing to a further decline. After the publication of the report upward move continued and WTI is currently trading 4% higher.
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile appThe US dollar weakened in the evening against the main currencies except the Japanese yen. CAD gains the most, helped by rising oil prices. Bitcoin bounced off monthly lows and climbed back above the $30,000 mark.
Bitcoin managed to return above the psychologically important $30,000 level and currently the price is heading towards the resistance marked by the confluence of the 200 SMA (red line) with the downward trendline around $32,260. Source: xStation5
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.