This week Apple, Microsoft, Google, Facebook, Pfizer, and other large US companies will deliver earnings reports…
US equities surge
On Wednesday, the Dow Jones Industrial Average reached a record maximum, powered by profits in technology and financial equities as well as a firm monthly private payrolls report.
The S&P 500 kept to record levels. 7 of the 11 key sectors rallied, deriving benefits from signs that Italy would diminish its budget deficit and also decrease its debt in the nearer future, thus relieving worries that had pressured global stock markets.
Financials SPSY ascended by 1.3%, on pace for their greatest one-day leap for the last 10 trading marathons. Technology equities jumped by 0.7%.
In September, American private payrolls showed their most impressive soar for seven months, as the ADP National Employment Report disclosed, hinting at sustained labor market strength as well as a firm print for Friday's more comprehensive non-farm payrolls report.
Amazon.com lifting its minimum wage to about $15 could encourage other retailers to do the same.
The firm ADP data pushed the profit on the U.S. 10-year Treasury note up, assisting the S&P bank index SPXBK in adding 1.7%.
The Dow Jones Industrial Average acquired 0.59% hitting 26,932.06. The S&P 500 surged by 0.44% being worth 2,936.41. Additionally, the Nasdaq Composite ascended by 0.62% reaching 8,048.77.
The Dow concluded on 27,000, while the S&P moved several points away from its all-time maximum.
Intel managed to acquire 2.4%, soaring for the second day, with profits being associated with a research company’s forecast that the chip manufacturer could beat Wall Street's objective for the fourth quarter.
Besides this, utilities SPLRCU as well as real estate SPLRCU sectors became the top losers because higher bond profits made equities of high-dividend paying firms less attractive.
As for the energy index SPNY, it heeded north by 0.7%, underpinned by a leap in crude prices.
Furthermore, General Motors added 3.2%.
Virgin Galactic’s Branson flew to space, but the stock of Virgin Galactic (SPCE) dropped. Why?
Virgin Galactic (SPCE) will launch Richard Branson to space on July 11, aiming to beat Jeff Bezos.
What events to follow and how to trade during the week of July 2-6?
EUR/USD retraced to 1.1870 after breaking out this level. It should be just a natural sell-off ahead of the further rally up.
The Fed held a much-awaited meeting yesterday. The bank hasn’t made any policy changes. As a result, the USD weakened and EUR/USD rocketed. Jump in to know all the latest news!