|
|
|
|
| |
|
On Wednesday, the U.S. stock market finished mostly higher. The S&P 500 advanced 28.81pts (+0.38%) to 7572.4 and the Dow rose 150.37pts (+0.29%) to 52658.64. Meanwhile, the Nasdaq 100 dropped 83.692pts (-0.28%) to 29502.596. Sector performance was mixed. The outperforming sectors were Communication Services (XLC), Consumer Discretionary (XLY), and Financials (XLF) while Technology (XLK), Utilities (XLU), and Energy (XLE) underperformed the most.
|
| |
|
|
|
|
|
| |
U.S. Economic Developments: |
|
|
| |
|
|
|
| |
|
The Producer Price Index gained 5.5% year over year in June, below an expected growth of 6.3% and 6% in May (revised from 6.5%). Meanwhile, the NY Empire State Manufacturing Index improved to 15.6 in July, above 6.2 expected from 5.7 in June.
|
| |
|
|
|
|
|
|
|
|
| |
Nvidia (NVDA) was largely unchanged, though a senior U.S. Commerce Department official said the company has started shipping a small number of H200 chips to China.
Apple (AAPL) rose 4.01% after receiving regulatory approval to bring Apple Intelligence to iPhones in China. The feature has been unavailable in mainland China since its 2024 launch. Separately, The Information reported that Apple is exploring chip-company acquisitions to support its push into server chips for AI.
Alphabet (GOOGL) gained 3.17% after Warren Buffett told CNBC that he initiated Berkshire’s investment in the company.
Microsoft (MSFT) climbed 2.78% after Citigroup kept its rating at “Buy,” while Mizuho and Evercore ISI maintained “Outperform” ratings.
Amazon.com (AMZN) advanced 3.02% following CEO remarks that demand for the company’s custom AI chips remains strong.
ASML Holding (ASML) increased 2.23% after it lifted its 2026 revenue outlook and outlined plans to expand manufacturing capacity, following second-quarter results that beat analyst expectations. Separately, The Information reported that ASML intends to raise prices, which could put it at odds with Taiwan Semiconductor Manufacturing (TSM). TSM was flat on the day.
PayPal (PYPL) surged 17.20% after Reuters reported that Stripe and private equity firm Advent International reportedly made a joint bid to acquire PayPal at $60.50 per share, valuing the company at more than $53 billion.
BlackRock (BLK) jumped 6.63% after it reported second-quarter adjusted EPS of $12.19, up from $10.19 a year earlier. The firm also said assets under management rose to $15.34 trillion from $13.89 trillion a year earlier.
Johnson & Johnson (JNJ) fell 2.69% after posting second-quarter EPS down 0.9% to $2.27, even as net sales rose 6.6% to $25.31 billion.
Bank of New York Mellon (BNY) gained 5.08% after publishing second-quarter adjusted EPS up 27% to $2.45.
|
| |
|
|
|
|
|
|
|
|
| |
The major European indices in the region finished in mixed territory. Germany's Dax fell 147pts (-0.59%) to 24999 and the U.K.'s FTSE 100 dropped 13pts (-0.13%) to 10515. Conversely, France's Cac 40 rose 15pts (+0.19%) to 8382.
On the data front, eurozone industrial production declined 0.2% month-on-month in May, compared with expectations of a 0.3% increase and a prior reading of +0.3% (upwardly revised from +0.1%).
|
| |
|
|
|
|
|
| |
Global Macro, FX & Commodities: |
|
|
| |
|
|
|
| |
Rates & Risk Sentiment:
The VIX declined 0.83pts (-5.03%) to 15.67 while the US 10 year yield dropped to 4.553%.
Precious Metals & Crude:
In the commodities market, Gold added 7.66 dollars (+0.19%) to 4061.56 while Silver dipped 0.84 dollars (-1.43%) to 57.79. WTI Crude Oil advanced 1.06 dollars (+1.34%) to 80.4 after another round of U.S. strikes against Iran.
The Dollar & Majors:
The dollar index declined 0.39pts (-0.39%) to 100.529.
EUR/USD rose 44pips (+0.39%) to 1.1463.
GBP/USD advanced 148pips (+1.11%) to 1.3537.
USD/JPY fell 4pips (-0.02%) to 162.19. Japan’s machinery orders fell 12.4% month-on-month in May, versus a forecast decline of 3.0%.
USD/CHF retreated 40pips (-0.49%) to 0.8049.
AUD/USD gained 32pips (+0.46%) to 0.7006.
USD/CAD slipped 12pips (-0.09%) to 1.4043. The Bank of Canada maintained its benchmark rate unchanged at 2.25%, as expected.
Digital Assets:
Finally, in the cryptocurrencies market, Bitcoin rose 462 dollars (+0.72%) to 65001 and Ethereum gained 51 dollars (+2.73%) to 1925.
|
| |
|
|
|
|
|
|
|
|
| |
United Airlines (UAL) fell in extended trading after forecasting nearly $6 billion in additional fuel costs for the year, compared with its estimate at the start of the year. A rally in oil prices pressured its third-quarter and full-year profit outlooks.
JB Hunt Transport Services (JBHT) surged after hours after second-quarter revenue beat expectations.
|
| |
|
|
|
|
|
