Trading Review: Ongoing Reports, Trends, Indices, Stocks, Bonds, Forex and Commodities and Analyst Recommendations
Trading closed up nicely: the Nasdaq and Dow Jones were up 1.6%, and the S&P 500 was up 1.5%.
At the top of the S&P 500, American Airlines jumped 8.4%; Shares of Cruises Norwegian, Carnival and Royal Caribbean rose 8.3%, 7.8% and 7.4% respectively.
At the top of the Dow: Boeing jumped 4.9%, American Express rose 3.7%, Goldman Sachs added 2.8% and Apple rose 2.6%.
Among Israelis, Teva jumped 4.9%, Supercom advanced 1.6% in a particularly high turnover and Iron Source rose 5.9%.
WTI oil strengthened: Contract for delivery in August, on its last day, rose 1%, $ 1.5, and closed at $ 67.42 a barrel. A September delivery contract strengthened 1.3 percent, 85 cents, to close at $ 67.2 a barrel.
Brent crude for September delivery was up 1.1 percent, at 73 cents, and closed at $ 69.35 a barrel.
Gold strengthened after two days of declines. A contract for delivery in August closed up 0.1%, $ 2.2, at $ 1,811.4 an ounce.
The gains are strengthening: the Dow Jones index is up 1.9%, the NASDAQ is up 1.6% and the S&P 500 is up 1.7%.
In banks: Goldman Sachs stock adds 3.4%, JP. Morgan Chase is up 2.8%, Bank of America is up 3.1%, Citigroup is up 2.4%.
Also notable are the increases, American Express rising 4% at the top of the Dow, Boeing advancing 3.4% and Apple rising 2.8%.
Among Israelis, Teva is up 3.8%, Iron Source is up 1.6% and Supercom, which provides electronic tracking bracelets, is up 2.4% in a particularly active cycle. On the downside, Medivand is down 6.2% after positive results in the Phase III trial and Mr Telemanage is down another 15%.
European stock markets recovered from the sharp declines recorded yesterday and ended the trading day with gains. In Frankfurt, the DAX rose 0.5%, in London the Potsy 100 rose similarly and in Paris the CAC 40 rose 0.8%. The pan-European Stokes 600 added 0.5%.
Shares of UBS jumped 5.3% after the Swiss banking giant topped forecasts in the second quarter and reported a profit of $ 2 billion, a jump of 63% compared to the corresponding quarter and well beyond the forecasts of $ 1.34 billion.
Leading indices on the New York Stock Exchange are up more than 1%. The Dow has already returned most of the declines it recorded yesterday.
The 10-year US government bond yield is recovering slightly and stands at 1.19%, after falling to a five-month low. The dollar strengthened 0.3% against the currency basket and 0.4% against the Japanese yen to 109.9 yen per dollar. The pound weakened 0.5% to $ 1.36 per pound and the euro retreated 0.3% to $ 1.17 per euro. WTI crude is up 0.4% at around $ 66.7 a barrel, and Brent crude is up 0.7% at $ 69 a barrel. Gold is stable at around $ 1,809 an ounce.
Rises on Wall Street are strengthening: the Dow is up 1.4%, the Nasdaq is up 0.3% and the S&P 500 is up 0.9%.
At the top of the Dow, IBM jumps 4.5% after positive reports, at the top of the Nasdaq Modern adds 6.3%.
Trading on the New York Stock Exchange opened with a slight positive trend, with the leading indices rising by 0.1-0.2%.
Markets are trying to recover from the declines recorded yesterday amid fears of a variant of the Delta variant. Yesterday, the Dow fell 2.1%, the S&P 500 fell 1.6% and the Nasdaq fell 1.1%.
The 10-year US government bond yield drops to 1.136%.
Reporting season continues: Energy Corporation Liberton topped forecasts and reported earnings of 26 cents a share in the second quarter, 3 cents above forecasts. Insurance Company posted $ 3.45 earnings per share in the second quarter, well above the consensus forecast of $ 2.39. Netflix will publish its reports after the end of trading.
An hour and a half before the opening of trading on Wall Street, and there are increases of 0.4% to 0.7% in futures contracts on Wall Street indices. Also, the yield on 10-year U.S. bonds rose slightly to 1.189%.
In Europe, price increases continue, with the highest of the French CAC index climbing about 1%, led by Credit Agricole Bank, which climbs 1.8% in high trading volume. Increases are also recorded in Orange , Airbus , Carrefour andDanone .
In pre-trade, Medivand stands out with a 23% jump, after the company reported the results of a Phase 3 clinical trial in children (an experiment known as CIDS) with the drug NexoBrid for the treatment of severe burns, and that all primary endpoints were achieved.
Dr. Ron Eichel, Chief Analyst at Colmax Capital Markets, has published a “strong buy” recommendation for the beverage maker PepsiCo . The company reported this week that its quarterly revenues have risen more than 20% compared to their level a year ago, with the increase in demand for beverages in light of the opening of restaurants. The company also raised its forecast for earnings per share growth in 2021.
Rises in Europe have moderated, and now Dax is up 0.2%, Potsey at 0.4% and Kak at 0.6%.
Yields are once again declining in the bond market. The yield on the 10-year bond drops 0.9% to a level of only 1.17%, and the yield on the 5-year bond weakens even more and stands at 0.66%.
The commodity market is up slightly, with gold rising 0.5% to $ 1,817 an ounce, and the two types of oil, WTI and Brent, are also up slightly by up to 0.1%.
Dr. Gil Befman, chief economist at Bank Leumi, referred to the agreement to increase oil production at the OPEC and US alliances, saying that the cooperation between the group members is strong and stable and that “even when there are disagreements, the group would rather reach compromises than enter into To a “price war” as it was last year. ” Befman added that during the negotiations between Saudi Arabia and the United Arab Emirates, Saudi Arabia and Oman agreed to continue cooperation in order to support the stability of the oil market, “indicating that Saudi Arabia remained dominant in the group, even though it had to compromise on UAE demand.”
Trading on European stock exchanges continues to be positive. Dax is up 0.7%, Potsey is 0.9% and Kak is climbing more than 1%.
The major banks in Europe continue to record gains this morning, including Lloyds, Barclays, Deutsche Bank, Standard Chartered andCredit Agricole The French.
The crypto market is still showing slight declines, with Bitcoin completing a 10% decline within a week and dropping to $ 29.6 thousand. Eli Bejarano, CEO and founder of the Bit2C crypto exchange, commented on the high volatility in the market, noting that it “feels more psychological when the direction is down. However, just a year ago the price was $ 20,400, reflecting an annual return of 218%. It is difficult to pinpoint the market when exactly the price will rise or fall in the short term, but the trend in the long term remains clear. “
European Trading Day opens with price increases. The DAX is up 1%, Potsey and Kak are up 1.2%, and there are also gains in Amsterdam, Madrid, Milan and Zurich.
In Germany, stock billing stands out Deutsche Bank And Deutsche Telekom which cost 1.9%, and also Volkswagen , BMW andSiemens Climb more than 1%. In London, too, banks are strengthening, and there are increases toLloyds , Barclays , HSBC andCharter standard . also Rolls Royce , Vodafone andGlencore Record increases.
The Japanese Nikkei closed down 1%, the Shanghai index lost less than 0.1% and the Shenzhen index closed slightly higher. Declines have also been recorded in Australia, Taiwan and South Korea. In Hong Kong, where trade still takes place, there has been a 0.6% decline.
The crypto market continues to decline, with Bitcoin losing 5.5% and trading for $ 29.7 thousand, Etherium at $ 1,760 and Dogecoin dropping to just 16 cents – a fall of 18% within a week.
Asian stock markets are trading lower, with the Hong Kong Hong Kong index down 1.2% and the Nikkei down 1%.
Wall Street futures are up slightly after trading in New York closed sharply lower in the leading stock indices yesterday, although in the last hour there has been a moderation in the negative trend. The Dow Jones industrial average closed down 2.1% and the Nasdaq fell 1.1%.
The yield on 10-year US bonds fell to 1.19% yesterday and is currently at this level.
UBS Bank recently reported a net profit of about $ 2 billion in the second quarter of the year, compared to analysts’ expected profit of about $ 1.3 billion.
Oppenheimer Investment House notes that macro data will continue to attract investors’ attention in the coming days, along with the reporting season, of course. Purchasing Managers (PMI) in the manufacturing sector for July, in parallel with the European Central Bank (ECB) interest rate decision.
Recall that data from Purchasing Managers’ Surveys for June hinted at the possibility of a slowdown in global growth due to the spread of the Delta strain around the world, especially in developing countries. That is, investors will also focus on data on delivery times to shed new light on the state of constraints in the world’s production chains. “
In the commodities segment, a Brent oil contract is up slightly to about $ 68.7 a barrel after oil fell 7% yesterday. A gold contract records a slight rise to $ 1,817 an ounce.
In the crypto market, bitcoin is down 3% below $ 30,000 and etherium is down 4.4% to $ 1,740.