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U.S. Market Overview:
On Friday, the major U.S. indices finished higher. The S&P 500 advanced 52 points, or 0.70%, to 7,489, while the Nasdaq 100 gained 168 points, or 0.60%, to 28,274. The Dow Jones Industrial Average rose 277 points, or 0.53%, to 52,485.
On the sector front, Consumer Discretionary (XLY), Communication Services (XLC) and Energy (XLE) outperformed, while Materials (XLB), Utilities (XLU) and Health Care (XLV) underperformed the most.
U.S. Economic Developments:
Looking at the latest U.S. economic data, The Chicago PMI rose to 57.6 in July, above the 56.0 forecast and up from 56.7 in June. Meanwhile, the University of Michigan’s final Consumer Sentiment Index improved to 55.2, exceeding the 54.0 estimate and rising sharply from 49.5 in June.
U.S. Equity News:
Amazon.com (AMZN), the world's largest online retailer and web services provider, soared 15.32% after quarterly sales beat estimates. The company's cloud segment growth also topped expectations.
Apple (AAPL), a consumer electronics giant, declined 7.35% after issuing a downbeat guidance, citing supply constraints. However, quarterly financial figures beat estimates.
Coinbase (COIN), a cryptocurrency exchange platform, sank 10.59% as quarterly financial figures missed expectations.
Rivian Automotive (RIVN), an electric vehicle maker, dropped 9.57% ground as the company lowered its 2026 capital spending outlook and narrowed its projected full-year loss. Rivian also reaffirmed its previously increased vehicle delivery target.
Reddit (RDDT), a social media, tumbled 20.99% as quarterly U.S. user growth slowed.
Newell Brands (NWL), a consumer goods company, jumped 8.95% as full-year earnings guidance beat expectations.
First Solar (FSLR), a maker of solar panels, gained 2.44% on better-than-expected quarterly earnings.
Volatility & Commodities Snapshot:
The VIX Index declined 1.10 points, or 6.44%, to 15.99.
The U.S. 10-year Treasury yield fell 4.38 basis points to 4.72%.
In the commodities market, gold declined $51.42, or 1.25%, to $4,050.98, while silver fell $1.12, or 1.90%, to $57.86. WTI crude oil advanced $0.93, or 1.11%, to $84.52.
Europe Market Overview:
At the European close, the major indices in the region finished mixed. Germany’s DAX advanced 17 points, or 0.07%, to 25,629, while France’s CAC 40 gained 24 points, or 0.28%, to 8,509. The U.K.’s FTSE 100 declined 29 points, or 0.27%, to 10,868.
On the economic front, eurozone consumer prices rose 0.2% month over month in July, in line with expectations, following a 0.1% decline in June. Annual inflation edged up to 2.9%, matching forecasts, from 2.8% previously.
In Germany, the unemployment rate increased to 6.4% in July from 6.3% in June, while economists had expected it to remain unchanged. In France, consumer prices rose 0.6% month over month, above the 0.3% forecast and reversing a 0.3% decline in June. Annual inflation accelerated to 2.1%, exceeding the 1.8% estimate and up from 1.8% previously.
Meanwhile, U.K. house prices increased 0.1% month over month in July, according to Nationwide, matching expectations after remaining unchanged in June.
Foreign Exchange & Crypto Wrap:
The U.S. dollar index declined 0.06 points, or 0.06%, to 99.81.
EUR/USD rose 7 pips, or 0.06%, to 1.1534.
GBP/USD advanced 21 pips, or 0.16%, to 1.3485.
USD/JPY fell 151 pips, or 0.95%, to 158.00.
USD/CHF gained 28 pips, or 0.35%, to 0.8078.
AUD/USD rose 12 pips, or 0.17%, to 0.7037.
USD/CAD advanced 9 pips, or 0.06%, to 1.4019.
Finally, in the cryptocurrency market, Bitcoin declined $1,790, or 2.77%, to $62,938, while Ethereum fell $54, or 2.86%, to $1,865.
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