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Wall Street indices launched today's trading higher but has later on gave back gains and now all major US benchmarks are trading in negative territory
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Nvidia opened with a big bullish gap today following the release of a solid earnings report yesterday in the evening. However, strong profit-taking began after launch of the cash session and it has dragged tech sector lower
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S&P 500 trades 0.8% lower, Dow Jones drops 0.7% while Nasdaq and Russell 2000 are down around 1.2% each
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European stock market indices finished today's trading lower - German DAX declined almost 0.7%, French CAC40 dropped 0.4% while Dutch AEX traded 0.9% lower. UK FTSE 100 was outperformer with 0.2% gain
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Fed Harker said that US central bank should keep restrictive stance for a while and that Fed has probably done enough
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South Africa's president said that Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates will become full members of BRICS-bloc in 2024. Brazil's president Lula said that Brics will work to trade currencies without the dollar
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TRY gained after the Central Bank of the Republic of Turkey delivered a 750 basis point rate hike. The main 1-week repo rate was increased from 17.50 to 25.00%
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US durable goods orders plunged 5.2% MoM in July (exp. -4.2% MoM) while orders excluding transport were 0.5% MoM higher (exp. +0.2% MoM)
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US jobless claims came in at 230k (exp. 240k) - the lowest reading in 3 weeks
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US and European natural gas prices dropped following reports that preliminary agreement was reached with Australian gas sector workers to end strike
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However, US natural gas prices recovered from losses later on after EIA report showed a smaller-than-expected inventory build of 18 bcf (exp. 35 bcf). NATGAS is trading 2% higher on the day at press time
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Cryptocurrencies are trading lower today. Bitcoin drops 1.2% while Ethereum and Dogecoin are down 1.1%
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Precious metals traded mixed today - gold gained 0.1%, silver dropped 0.7% and platinum added 0.6%
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USD and CAD are the best performing major currencies while NZD and AUD lag the most
A massive rate hike from CBRT triggered a surge in TRY market. EURTRY is down around 6.5% on the day and trades at the lowest level in 2 months! Source: xStation5
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