mixed trend on Wall Street;  Cisco jumps by about 6%, Zim by 6.6%

Trade overview: current reports, trends, indices, stock prices, bonds, foreign exchange and commodities and analyst recommendations

18:45

European stock markets closed slightly higher. On Wall Street, the trend is mixed, with the Nasdaq index trading up slightly and the Dow Jones maintaining stability.

stock Bad Bath and beyond Drops by 24% after sharp increases in recent weeks.

Significant increases are recorded Nvidia AMD, Cisco, and energy stocks Occidental Petroleum andDevon Energy .

Among the Israeli stocks, Zim, Monday, nature and nova.

In the commodity trading sector, oil contracts are up by about 2.5%. Gold is trading stably.

17:03

US Macro: Sales of second-hand houses in the last 12 months amounted to 4.81 million units compared to expectations for 4.87 million units.

The main stock indexes in New York are now falling slightly.

stock Cisco Jumping by about 6% after the company published reports for the last quarter last night after the end of trading and surpassed analysts’ expectations.

16:35

A mixed trend is recorded at the opening of trading on Wall Street. The Nasdaq registers a slight decline, while the Dow Jones maintains stability.

stock Zim Up 2.7% after a sharp drop yesterday. Mankey and Solaredge are also up more than 2%. nice Register fell slightly after publishing reports today.

In Europe, the indexes are trading with slight increases.

15:40

US Macro: The “Philly Fed” index reached 6.2 points compared to an expected minus 4.9 points.

Initial claims for unemployment benefits last week stood at 250,000 compared to an expected 265,000 claims.

14:15

Most stock indices in Europe went up. The DAX index adds 0.7%, CAC increases by 0.4% and Euro Stox 50 by 0.3%. The British Potsey is trading similar to the opening level.

On Wall Street, the direction has changed for the better, and the futures are now trading stable with a slight upward trend.

Chip company Wolfspeed jumps 17% in early trading after reporting a loss of 2 cents per share, when analysts expected a loss of 10 cents per share. Revenues totaled $229 million, above forecasts for $208 million.

In contrast, a share Kohl’s (Kohl’s) tumbles 8% premarket after the retailer cut its financial outlook for the year, despite beating the analysts’ expectations regarding the profit and revenues in the second fiscal quarter. The company registered Earnings of $1.11 per share (forecasts were $1.03) and revenues amounted to $4.09 billion (vs. a forecast of $3.85 billion).

In the meantime, in Turkey it was decided to lower the interest rate by 100 basis points, from 14% (the level it was in the last seven months) to 13%. At the beginning of this month, the Turkish Bureau of Statistics announced that the annual inflation rate in the country reached 79.6% in July.

12:01

Macro Europe: The consumer price index in the Eurozone climbed by 0.1% in July, as shown by the early forecasts published three weeks ago. The annual inflation rate reached 8.9%, also in accordance with forecasts and preliminary data. This is an increase compared to June, when inflation stood at an annual rate of 8.6%. The combined price index (HICP), which takes into account various adjustments and the weighting of the countries’ share in the aggregate consumer expenditure, rose by 5.1% – a tenth of a percent higher than the preliminary figure.

In the meantime, the central bank in Norway raised the interest rate by 50 basis points (to 1.75%), after inflation in the country rose to 6.8% last July, above forecasts that estimated an increase at an annual rate of 6.3%. This is the highest level of inflation in Norway since 1988.

At 14:00 the interest rate decision will be announced in Turkey, when according to the forecasts it will give up a rate of 14%. Recall that at the beginning of the month, the Turkish Bureau of Statistics announced that the annual inflation rate in Turkey reached 79.6% in July, with independent agencies estimating a much more significant jump of 176%.

11:30

A mixed trend in Europe. The DAX index rises by 0.2%, while the FTSE registers a similar decrease. The French CAC is unchanged, the Euro Stox 50 registers a slight decline. On Wall Street, futures are weakening by 0.2% to 0.3%.

Cineworld of the Israeli Gerdinger family is beginning to recover and is climbing 16% after plunging 60% in London yesterday, due to a report that it will start taking actions to strengthen the balance sheet and reduce its large debt, including diluting the existing shareholders in order to raise capital.

In Asia, the Hang Seng index closed down 0.9%, after the Shanghai and Shenzhen stock exchanges shed 0.5% and 0.6% respectively.

10:10

Trade in Europe opened steadily. The CAC index in Paris is unchanged, the Dax climbs in Frankfurt by about 0.2% and the British Potsey sheds 0.2%. Euro Stox 50 is the European rule with no movement.

In Hong Kong, the declines are deepening and the Hang Seng index was cut by 1.1%, led by the real estate giant Country Garden which cut its forecast forIts net profit for the half year due to the sharp decrease in sales. The company expects a profit of 200 million yuan to 1 billion yuan, compared to a profit of 15 billion yuan in the corresponding half of last year.

09:20

The declines in Tokyo strengthened ahead of the closing bell and the Nikkei ended down 1%. Mitsubishi Financial Bank lost about 0.9%, Tokyo Electric Co. retreated 1% and automakers Mitsubishi, Toyota, Nissan and Mazda lost 1% to 1.8%. The investment bank Softbank stood out against the trend and recorded a slight increase.

08:00

Asian stock markets are running in a negative trend. The Japanese Nikkei index falls by 0.8%, the Hang Seng sheds about 0.6%, Shanghai retreats by 0.5%, Shenzhen by 0.6%, and the South Korean Kospi by 0.3%. In Australia, the flagship index ASX 200 retreated, after the country’s unemployment rate surprisingly dropped by a tenth of a percent in July, to 3.5%.

Wall Street contracts are trading moderately lower this morning. In the US government bond market, yields are losing ground: the 10-year bond yield drops to 2.86%, and the two-year bond yield weakens to 3.26%.

Investors and traders were not particularly impressed by the minutes of the last Fed meeting and stock indices in New York closed last night in declines. The Nasdaq shed about 1.3%, the S&P 500 fell 0.7%, and the Dow retreated 0.5% after five straight days of gains.

“Inflation will return over time to the 2% target,” the minutes read. “The participants estimated that as monetary policy tightens, it will likely be appropriate at some point to slow down the pace of interest rate increases.” Committee members estimate an increase of 50 basis points in the upcoming interest rate decision in September.

Today at 12:00 Israel time the consumer price index in the Eurozone will be published. According to the forecasts, the annual inflation rate will jump to 8.9%. The core index, which does not include the volatile food and energy prices, is expected to reach 4%.

The oil market is stable this morning. Brent oil is trading around $93.5 per barrel, and American oil at $88.1 per barrel. Yesterday, prices rose slightly after it was announced that crude oil inventories in the US fell by more than 7 million barrels last week, well above forecasts for a contraction of only 270,000 barrels. The previous week, inventories jumped to nearly 5.5 million barrels.

In the cryptocurrency trading arena, the trend is negative. Bitcoin loses 2.5% and trades around $23,300, and Ethereum drops at a similar rate to $1,844.

By Editor

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