Daily summary: Global equities and energy commodities rebound

• European indexes closed higher for a second session on Thursday, with Germany's DAX up 1.97%. Miners and energy shares were among the top performers and chip makers also got a boost from better than expected quarterly figures from Samsung.

• London's FTSEE 1000 rose 1.14% after Prime Minister Boris Johnson resigned.

• US stocks extended recent gains during today's session, with the Dow Jones adding 0.70%, while both the S&P 500 and the Nasdaq rose 1.15% and 1.95% respectively, as concerns over recession and tight monetary policy momentarily eased ahead of tomorrow’s NFP report. 

• US initial jobless claims increased more-than-expected to the highest reading since January but remained below 250K, which is another sign of weakening labour market. 

• GameStop stock surged 12% after the company said a 4-for-1 stock split was approved by its board, while Bed Bath & Beyond skyrocketed 26% amid insider purchases. 

• US crude oil inventories unexpectedly rose by 8.235 million barrels in the week July 1st, the most in eight weeks. Meanwhile Shanghai reported the highest number of Covid-19 infections since late May, raising concerns about the recovery of the world’s biggest crude importer. Nevertheless WTI crude oil price rose today and briefly jumped above $ 104 a barrel.

• Gold trades slightly above the flatline around $1740 amid weaker dollar, while silver stabilized around $19.20

• Currently AUD and GBP are the best performing major currencies while EUR and CHF lag the most.

• The Polish Zloty plunged after the country’s central bank raised the key rate by a slower than expected 50 bps to 6.5%. Meanwhile forint strengthened after Hungarian central bank raised rates by 200 bp to 9.75%.

Cryptos launched a recovery move in recent days. Looking technically at the ETHEREUM chart on the H4 interval, a potential ABC straight correction pattern may be forming. The $ 1,255 level, which is marked with previous price reactions should be treated as nearest resistance. If the current sentiment prevails, the correction move may extend to the zone at $ 1,355 which is marked with the upper limit of the 1:1 structure. Source: xStation5