Morning wrap (07.07.2021)

• Indices from Wall Street finished yesterday's trading lower. S&P 500 dropped 0.20%, Dow Jones moved 0.60% lower while Russell 2000 slumped 1.36%. Nasdaq gained 0.17%

• Stocks in Asia trade mixed. Nikkei and Kospi dropped while S&P/ASX 200 and indices from China gained

• DAX futures point to a lower opening of the European cash session

• Economists surveyed by Bloomberg said that the next Japanese stimulus package will most likely come before national elections (October 22, 2021) and will be worth 20-30 trillion JPY

• US military base in Iraq has been targeted in rocket attack. There are no news of casualties

• Australian authorities decided to extend lockdown in Sydney by one more week amid rising coronavirus case count

• Precious metals trade mixed - gold and silver gain while palladium and platinum drop

• Oil, industrial metals and grains trade higher

• Bitcoin gained overnight and trades slightly below $35,000 mark

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

While S&P 500 (US500) and Dow Jones (US30) moved lower yesterday, Nasdaq showed no signs of exhaustion. The US tech index gained almost 0.2% and moved to a fresh all-time high. A resistance marked with 161.8% exterior retracement of recent correction is being tested at press time (14,780 pts area). Source: xStation5