Daily summary: Indices and gold gain after weak US data

• Wall Street indices gained following flat opening and now trade higher on the day. S&P 500 gains 1.1%, Dow Jones trades 0.6% higher, Nasdaq rallies 1.5% and Russell 2000 adds 1.3%
• Risk sentiment improved following release of weak US data - CB consumer confidence and JOLTS job openings
• Conference Board consumer confidence index dropped to 106.1 in August from 117.0 in July (exp. 116.1)
• JOLTS job openings for July came in at 8.827 million (exp. 9.500 million)
• Fed swaps now price rate cuts in June 2024 rather than July 2024 as before the release
• Precious metals also gained amid drop in yields. Gold and platinum trade 1% higher while silver rallies over 2%
• European stock market indices finished today's cash session higher. German DAX gained 0.9%, UK FTSE 100 rallied 1.7%, French CAC40 jumped 0.7%% and Dutch AEX traded 0.6% higher
• Cryptocurrencies gained after US Federal Court of Appeals said that SEC was wrong in rejection spot Bitcoin ETF application from Grayscale and order another review
• Spanish retail sales increased 7.3% YoY in July (exp. 6.7% YoY)
• Energy commodities traded mixed today - oil gained 1.3-1.4% while US natural gas prices dropped 1.5%
• Industrial metals traded higher today - copper gained 1.1%, aluminum moved 0.6% higher and zinc rallied 1.8%
• AUD and NZD are the best performing G10 currencies while USD, GBP and CAD lag the most

Indices caught a bid after release of weak US data. US100 rallies over 1.5% and tests 15,400 pts area. Source: xStation5