Latest Trade Overview: Current Reports, Trends, Indices, Stock Prices, Bonds, Foreign Exchange, and Commodities

2023-06-28 23:02:23

Trade overview: current reports, trends, indices, stock prices, bonds, foreign exchange and commodities and analyst recommendations

23:00

Lockdown involved in Wall Street. The Nasdaq index registered an increase of about 0.3%, while the Dow Jones recorded a decrease of about 0.2%.

stock Tesla , Netflix carnival, Caravan And Snowflake stood out in sharp rises.

On the other hand, chip stocks lost ground following a report that the US Department of Commerce is considering further restrictions on the export of AI chips to China. Nvidia stood out with a decrease of 1.8%.

21:33

On Wall Street, the mixed trend continues – the Nasdaq index is now trading up 0.2%, while the Dow Jones registers a slight decrease.

Oil contracts jump by more than 2% after today it was announced in the US that oil inventories recorded a drop of 9.6 million barrels in the week ending June 23, compared to expectations for a drop of only 1.8 million barrels.

20:15

On Wall Street, the mixed trend continues – the Nasdaq index is now trading stable, while the Dow Jones is down about 0.4%.

Netflix stands out in a sharp increase, partly after Oppenheimer raised the target price per share from 450 to 500 dollars. also Pinterest Jumps on the background of raising the recommendation for the stock by Wells Fargo economists.

More prominence on the rise Tesla , Carnival caravan, Wix and a crease.

General Mills falls sharply against the background of investors’ disappointment with the reports that the company published.

18:55

The trading day in Europe closed with a positive trend led by the CAC 40 index which climbed by about 1%. The Potsi rose by about 0.5% and the Dax index registered an increase of about 0.6%.

On Wall Street, the mixed trend continues – the Nasdaq index registers an increase of about 0.4%, while the Dow Jones falls by about 0.3%.

17:55

The chairman of the Fed, Jerome Powell, returned today and said that he expects more interest rate hikes in the US until the end of the year. Powell, who is participating in a conference in Portugal, said that “what mainly affects our decisions, next to the high inflation, is the very strong labor market.”

The Fed recently decided to leave the interest rate in the US unchanged, however Powell hinted at the press conference after the announcement that in July the interest rate is expected to rise again. He also added that “further increases in the interest rate this year should not be ruled out, and possibly continuously and without a break.”

Regarding the possibility that the US economy will slide into recession, he said that “it is possible. It’s not our main script, but it’s definitely possible.”

Powell’s words do not really affect trading on Wall Street – the Nasdaq index registers an increase of about 0.5%, while the Dow Jones falls by about 0.4%.

In the bond market, the US government’s 10-year bond yield drops by about 2 basis points to 3.75% and the two-year bond yield also drops by 2 points to 4.74%.

17:25

Mixed trend on Wall Street – the Nasdaq index went up slightly, while the Dow Jones is down about 0.3%.

Netflix jumps by 3%, Tesla at 2.4% andCarnival Stands out with an increase of about 5%. Among the Israeli stocks, gains stand out Wix , monday and Selena.

16:33

The trading day in the US stock markets opened with slight declines. The main stock indices retreated at rates of 0.3%-0.4%.

Chip stocks are falling following a report that the US Commerce Department is considering further restrictions on the export of AI chips to China.

stock his horizon Jumps 17% after the company announced today that approval was received for its delayed-release growth hormone product. The approval was actually received from the Pfizer company, which received the rights to market and manufacture the drug.

15:30

Nasdaq futures trade down 0.4%, S&P 500 contracts lose 0.2% and Dow Jones futures are steady.

Among the stocks that attract interest in pre-trade, the social network stock Pinterest Jumps 5% after raising a recommendation from Wells Fargo, to “overweight”, the food manufacturer’s stock General Mills Cut 4% after the reports, the company beat forecasts on the profit line but revenues totaled $5.03 billion compared to analysts’ forecasts of $5.17 billion.

14:30

Chip stocks continue to lose ground in pre-trade in New York amid new restrictions the Biden administration plans to impose on exports of artificial intelligence (AI) chips to China. stock Nvidia and-AMD decreases by about 3%, Applied Materials andMarvel withdraw almost 2% and share TSMC Loses 1%.

13:20

The increases in Europe are slightly stronger, led by the DAX and CAC 40 indices which rise 0.9%. At the top of the DAX index Siemens Energy Jumps 6.8%, the pharmaceutical manufacturer stands out Mark – 542116 which costs 1.8% andAdidas which costs about 0.9%. In Paris, a share Carrefour jumps 3%.

A mixed trend in the futures contracts on the leading indexes in New York. The Nasdaq 100 contracts are down 40%, the S&P 500 is down 0.1%, while the Dow is up 0.1%.

12:20

Macro Europe: According to preliminary data, inflation in Italy slowed in June to an annual rate of 6.4%, a sharp drop from 7.6% in May and compared to forecasts that predicted a drop to 6.8%. The consumer price index remained unchanged in June compared to forecasts that predicted a slight increase. The producer price index in May fell by 4.3% on an annual basis, compared to a 1.5% drop in April, but well below forecasts that predicted a 9.4% drop.

In Spain, retail sales increased in May by 6% and on an annual basis by 0.3%.

In the entire European Union, an annual increase of 2.1% in loans to households and 4% in loans to companies was recorded in May, below and above forecasts, respectively.

11:10

In Hong Kong, the Hang Seng Index closed with a slight increase of 0.1%.

In the commodities market, oil prices rose about 0.4%, Brent oil around $72.6 per barrel and WTI oil around $68 per barrel. Gold retreated 0.2% to $1,920 per ounce.

In the crypto market, Bitcoin is down 1.6% and Ethereum is down 2.2%.

10:10

Trading in European stock markets opened with a positive trend, following yesterday’s trading which broke a streak of declines. In Frankfurt the DAX index strengthens 0.6%, in London the POTSI 100 advances 0.3% and in Paris the CAC 40 rises 0.8%. The European-wide Stoxx 600 index rises 0.6%.

The consumer confidence index in Germany fell in July and stood at -25.4 points, compared to -24.4 in June and contrary to expectations that it would rise to the level of -23 points. This is the first drop in the index in nine months. In France, the consumer confidence index rose to 85 points, compared to 83 in June.

In Asia, in Tokyo the Nikkei index jumped 2%, the Shanghai Composite index retreated 0.6% and in Seoul the Kospi index fell 0.7%. At this time the Hang Seng index in Hong Kong advances 0.2%.

08:40

Asian stock markets opened the trading day with a mixed trend. The Nikkei index jumps by 1.6%, the Hang Seng falls by 0.2%, the Shanghai Stock Exchange sheds about 0.4% and the Kospi falls by 0.7%.

Last night in the US, trading was conducted with sharp price increases, when the Nasdaq index closed with a 1.7% increase.

Chip stocks fell last night in late trading after it was reported that the US Department of Commerce is considering expanding restrictions on the export of artificial intelligence chips to China. The concern stems from the possibility that China will misuse AI chips, which includes, among other things, the development of weapons. This move could further damage the ability of China to build its AI capabilities after restrictions were imposed on China last year to import the most advanced AI chips made by Nvidia and AMD.

Nvidia this year designed a different version of AI chips for the Chinese market called A800, with less capacity, in order to get the approval of the Commerce Department in Washington to continue exporting the goods to China. However, the new restrictions being considered by the Commerce Department would also prohibit the sale of these types of chips.

Following this, the shares of the chips were traded with lower prices last night in the late trading when Nvidia fell by about 3%, AMD decreased by about 2.5% andQualcomm decreased by about 1.5%.

In futures trading on US stock market indices, rates are now falling.

In the global forex market, the euro weakened against the dollar by 0.1% and the JPY weakened against the dollar by a similar rate. Against the yen, the dollar weakened by 0.1%.

In the commodity market, oil contract prices are trading slightly higher this morning after being cut by about 2% last night. The price of a barrel of Brent climbs to $72.9 and the price of a barrel of WTI stands at $68.

In the macro sector, in Australia this morning the consumer price index was published which dropped to 5.6% at an annual rate. Early forecasts expected a more moderate annual decline in the index, to a level of 6.1%.

China’s industrial profit fell by 18.8% since the beginning of the year.

The consumer price index in Italy is expected to be published today. On Thursday, the consumer price index in Germany is expected to be published and an updated figure on the rate of growth in the US in the first quarter.

On Friday, the consumer price index and industrial production data will be published in Japan, in China purchasing managers’ indexes (June) and annual construction starts (May) and in Great Britain final data on GDP in the first quarter. In the US, the price index of the private consumption expenditures for May (PCE) and the inflation expectations for one year and five years of the University of Michigan will be published.