Trading Review: Ongoing Reports, Trends, Indices, Stocks, Bonds, Forex and Commodities and Analyst Recommendations
Macro USA: Sales of new homes recovered in July, after three months of declines, despite record prices.
Sales rose 1% to an annual rate of 708,000 homes according to official data, slightly above forecasts of an annual rate of about 700,000 in July. The number of new homes sold increased by 5.5% compared to June and jumped by 26% compared to July 2020. The median price for a new home reached a new high of $ 390,500.
Trading is up slightly in the leading indices, the Nasdaq and S&P 500 indices are setting new records.
Palo Alto shares soared 17% after information security company founded by Nir Tzuk beat forecasts. The company posted revenue of $ 1.2 billion in the second quarter of 2021, compared to analysts’ forecasts of $ 1.17 billion, a jump of 28% over the same quarter in 2020.
The trading day on the Wall Street stock exchanges opened in a positive trend: the Dow Jones index added 0.1%, the NASDAQ index rose 0.3% and the S&P 500 index strengthened by 0.2%.
The 10.year US government bond yield rises to 1.27%. The dollar stood against the currency basket and weakened against the Japanese yen by 0.1% to 109.6 yen to the dollar. The pound is stable at $ 1.37 per pound and the euro maintains a rate of $ 1.17 per euro. WTI crude rose 1.2 percent to $ 66.4 a barrel and Brent crude rose 1.5 percent to $ 59.8 a barrel. Gold is up 0.2% and is trading at around $ 1,809 an ounce.
Ofer Klein, head of the economics and research division at Harel Insurance and Finance, notes that “the minutes of the US Federal Reserve’s interest rate decision confirm our assessment that the date of the announcement of the reduction in the acquisition plan is approaching. The governor (and his deputy) have still refrained from making official statements, but we believe their silence will end this weekend at the Governors’ Conference at Jackson Hall. Of the budget that is still far from approved. “
A mixed trend in Europe. In Germany, it was announced today that the economy grew by 1.6% in the second quarter of the year, compared to economists’ expectations of 1.5% growth.
Sharesbury shares are down 1.6% after a 14% jump yesterday.
The trading day on the European stock exchanges opened with slight increases in the stock indices. There are also slight increases in trading on Wall Street indices.
Asian stock markets are trading in a positive trend, with stock indices recording gains of 1% .1.5%. In trading in contracts on the Wall Street indices, there are slight increases.
Rises were recorded yesterday on Wall Street after the FDA gave full approval for Pfizer’s corona vaccine: the Dow Jones industrial average rose 0.6%, the S&P 500 climbed 0.85% to a new high of 4,479 points and the Nasdaq closed up 1.5 percent. % To a new high of 14,942 pts.
At the scene of the struggle in Corona, the German government decided yesterday on a significant policy change in the way it deals with the corona plague: from now on the country will no longer consider morbidity values, which were the leading measure of disease spread, and will only consider the number of hospitalized patients.
In the commodity trading arena, Brent oil (October contract) recorded a slight increase and traded around $ 69 a barrel, after a sharp rise yesterday. Gold is trading down slightly.
Bitcoin traded down slightly around $ 49,330.
Deutsche Bank economists note in their weekly review that “markets continue to be volatile. Stock markets are affected by the continued discussion about the Fed’s decline and concerns about global growth and therefore volatility is expected to continue.“