The friday market minutes
- Global shares found the last trading day of the month, with recovery concerns in Asia and large tech earnings rising in Europe and the US.
- Apple, Amazon, Facebook and Google all beat Wall Street forecasts, bringing the revenue to a collective $ 205.2 billion.
- However, given the growth concerns of the US, the dollar is pushed to a two-year low, and gold is given a fresh high in overnight trading.
- US Coronavirus cases increased by more than 68,000 on Thursday, bringing the total to 4.6 million.
- Global oil prices are a result of the weaker US dollar, but demand concerns keep crude strong for its $ 40 per barrel trading range.
- US equity futures suggest a strong opening on Wall Street ahead of earnings from Merck, ExxonMobil, Chevron and Colgate before the start of trading, and trading and inflation and personal consumption data at 8:30 am Eastern Time.
Wall Street futures made extended gains on Friday, driven by gains for the largest U.S. tech stocks after blockbuster earnings after trading yesterday, but worrisome concerns for the fate of the global economic recovery and an increase in coronovirus infection rates , Continues to hold investor sentiment.
Apple Inc. (AAPL) – Get Report The Dow Jones alone will add at least 150 points at the commencement of trading in the industrial average, thanks to the stock’s 6% pre-market soaring following last night’s blowout earnings report, which generated revenue of about $ 60 billion. And better-than-expected included. The bottom line at $ 2.58 per share.
Apple plans to divest its shares, which are trading northward of $ 400 each, could reduce profits for the Dow, given the tech giants’ impact on the price-weighted average.
Amazon inc (AMZN) – Get ReportBoth S&P 500 and Nasdaq will get a major boost, with shares up to 5.4% in the pre-market after record quarterly profits at online sales of nearly $ 90 billion by the online retailer.
However, Thursday’s severe second quarter GDP readings, which showed an annual contraction of 32.9% – along with record start-ups in weekly jobless claims, were powerful reminders for investors to predict the naming of any domestic recovery Will go. The spread of cornavirus, which has infected 4.6 million Americans and killed at least 154,000.
In fact, those concerns are being expressed far more dramatically in the value of the US dollar as they are in stocks, with the greenback falling to a two-year low against a basket of its global peers in overnight trading Also, July declined. About 5%, the most in ten years.
Gold prices, too, have had their best month in nearly five years, rising nearly 11% since the end of June, to new record highs of $ 1,974.00 an ounce in overnight trading as new ones in the United Kingdom Coronovirus lockdown orders were imposed. And Japan threatened to impose new restrictions on movement and trade in Tokyo amid a new outbreak in the capital.
Meanwhile, despite powerhouse influence from Amazon, Apple, Facebook, the stock is scheduled for mixed opening bell gains on Friday (American Plan) – Get Report And google (GOOGL) – Get ReportWith futures contracts linked to the Dow, the 55 points is tied with the advance and the S&P 500, up 4.7% for the month, indicating a strong jump of 15 points.
Nasdaq Composite Futures, meanwhile, are guiding to a 180 point opening bell gain, which will power a new all-time high-tech-focused index.
European stocks recorded solid early gains, as well, with the Stokes 600 gaining 0.72% in early trading, with the Dax Performance Index rising 0.8% in Germany and 0.6% for the FTSE 100 in London.
The euro, however, is on pace for its best month against the dollar in a decade, touching a level of 1.19 in overnight trading for the first time since May 2018, with the pound at a four-and-a-half month high Has arrived. Due to the slowdown of 1.3134.
The dollar’s weakness helped boost global oil prices on Friday, despite demand concerns linked to the COVID-19 resurgence and mixed industrial data from China.
The WTI contract for September delivery, the US benchmark, was changing hands at $ 30.22 a barrel from their Thursday high in New York and $ 40.22 per barrel in the initial European deal, while the Brent contract for September, the global benchmark, was $ 43.08 per dollar. 30 cents more views. Barrel.
Japan’s Nikkei 225 fell 2.82% in the session overnight in Asia, pushing the benchmark into negative territory for the month, driven by last night’s fall on Wall Street and a strong yen, while the region The broader MSCI Ex-Japan Index, the region’s largest measure of share prices, slipped 0.31% in the final hours of trading.