Trading Review: Ongoing Reports, Trends, Indices, Stocks, Bonds, Forex and Commodities and Analyst Recommendations
07:50
Asian stock markets are trading in a mixed trend today. The Nikkei in Tokyo is up 0.5% while the Hang Seng is down slightly in Hong Kong.
Trading in US stock market indices is down 0.7%.
In New York, a volatile day ended last night, which began with sharp rises, with a slight positive trend. In the minutes leading up to the close, the gains were a bit stronger and the Dow Jones – who had already managed to move down – finally finished with a slight increase. NASDAQ and the S&P 500 rose 0.4% and 0.3%, respectively.
Yields have risen in the U.S. government bond market. The ten-year bond yield soared by about 9 basis points and rose to 3.4%.
In the commodity trading segment, Brent oil contracts for August are up 0.6% to $ 120.3 a barrel. U.S. oil costs about $ 119.3 a barrel.
Gold is trading steadily while Bitcoin is down more than 5% and is trading around $ 29,500.
British Prime Minister Boris Johnson survived last night (Monday) a no-confidence vote within the Conservative Party, but a surprisingly large-than-expected proportion of party members voted against him, in a secret ballot that could mark the beginning of his term. Of the 359 Conservative MPs in office, 148 voted no to Johnson, and only 211 voted in favor. Allegedly, Johnson will now get quiet for a year from further no-confidence votes within the party, but the high number of opponents of him – more than 40% of the party – show that the revolt against him is in full swing.
The background to the no-confidence motion was mainly Johnson’s conduct during the Corona closures, the fact that he controlled parties at Downing 10 while the public was isolated in the closure, and the fact that he denied breaking the law, despite photos popping up after the denials showing him attending events. Johnson was also sentenced to a fine for violating regulations following a police investigation into the matter. He claimed in parliament that he did not know he was violating the regulations. 70% of the public believe, according to recent polls, that the British Prime Minister lied to Parliament.