US Market Update 09 Jul 2018

Posted by Tim Sholl on 10-Jul-2018 01:51:28

Investors around the globe have put trade concerns on the back burner and have moved back into stocks in a big way. Asian indices were all higher as are European indices and now also we have all three US indices sharply higher. The US Dollar has weakened also from its peak at the end of June and this has helped commodities and Emerging markets.

Latest pricing shows the Dow at 24724 up 1.10% , the S&P500 at 2778 up 0.67% , and the Nasdaq at 7723 up 0.46%. The EUR is at 1.1758 up 0.10% and the GBP is at 1.3267 down 0.21% after the resignation of two ministers who disagree with the Brexit position of PM May. The JPY is currently at 110.73 up 0.27% after Kuroda comments that monetary policy will continue to be very loose until the inflation numbers stay at or above 2.0%. The weaker USD is helping Gold which is last at 1262.80 up 0.56% and the WTI Crude oil futures are at 73.71 down 0.10% as markets ponder the increase in production from Russia and OPEC and the reduction in production from Iran , Libya and Venezuela.

US consumer inflation expectations remained at 2.98% for the third month in a row as tariffs add to potential price rises. 

Topics: Trading, Market News, US Market Outlook