|
|
|
|
| |
On Friday, U.S. equities stayed under pressure after China’s Moonshot AI released a new model that it claims outperforms some American systems, adding to worries about how much U.S. companies are spending to build AI infrastructure.
The S&P 500 fell 76.08 points (-1.01%) to 7,457.69, the Nasdaq 100 dropped 433.11 points (-1.49%) to 28,592.66, and the Dow declined 406.55 points (-0.77%) to 52,146.42. By sector, Energy (XLE) was the only gainer, while Communication Services (XLC), Consumer Discretionary (XLY), and Technology (XLK) lagged the most.
|
| |
|
|
|
|
|
| |
U.S. Economic Developments: |
|
|
| |
|
|
|
| |
|
In June, housing starts surged 19% month over month, compared with expectations for no growth. Building permits, however, fell 3% in June, against a forecast for a 0.7% decline. Industrial production increased 0.1% month over month in June, missing the expected 0.2% gain. Meanwhile, Michigan’s Consumer Sentiment Index climbed to 54.4 in June, up from 50.4 expected in the preliminary reading.
|
| |
|
|
|
|
|
|
|
|
| |
Netflix (NFLX) declined 7.26% as its second-quarter revenue and its third-quarter adjusted EPS and revenue guidance came in below expectations.
SpaceX (SPCX) slid 5.43% after its Starship rocket triggered a last-second abort before liftoff for its 13th flight test from Texas as some of its 33 engines failed to start. Separately, late in the trading session, the WSJ reported that SPCX is in talks with the Defense Department about providing computing power.
Intuitive Surgical Inc (ISRG) dropped 14.15% after the company said that changes in coverage and premium dynamics may be impacting when patients seek care and move forward with treatment.
Travelers Companies (TRV) surged 9.22% after posting better-than-expected quarterly earnings.
Meta Platforms (META) fell 2.79%. The Facebook parent hired AWS executive Dave Brown to lead data center expansion for Meta Compute.
|
| |
|
|
|
|
|
|
|
|
| |
|
At the European close, the major indices in the region finished mostly lower, with the Germany's Dax falling 84pts (-0.34%) to 24830 while France's Cac 40 declined 39pts (-0.47%) to 8338. Conversely, the U.K.'s FTSE 100 climbed 28pts (+0.27%) to 10600.
|
| |
|
|
|
|
|
| |
Global Macro, FX & Commodities: |
|
|
| |
|
|
|
| |
Rates & Risk Sentiment:
The VIX increased 2.04pts (+12.19%) to 18.77 and the US 10 year yield fell to 4.554%.
Precious Metals & Crude:
In the commodities market, Gold added 38.73 dollars (+0.98%) to 4008.67 and Silver rose 0.54 dollars (+0.98%) to 56.05.
WTI Crude Oil advanced 3.34 dollars (+4.23%) to 82.29 as U.S.-Iran tensions escalated.
The Dollar & Majors:
The dollar index dropped 0.03pts (-0.03%) to 100.734.
EUR/USD fell 2pips (-0.02%) to 1.1439.
GBP/USD slipped 22pips (-0.16%) to 1.3454.
USD/JPY rose 3pips (+0.02%) to 162.41.
USD/CHF retreated 14pips (-0.17%) to 0.8072.
AUD/USD declined 15pips (-0.21%) to 0.6981.
USD/CAD dipped 28pips (-0.2%) to 1.4013.
Digital Assets:
Finally, in the cryptocurrencies market, Bitcoin fell 130 dollars (-0.2%) to 63973 and Ethereum dropped 33 dollars (-1.77%) to 1838.
|
| |
|
|
|
|
|
