Morning wrap

  • US indices finished yesterday's session mixed. S&P 500 closed 0.38% lower, Dow Jones dropped 0.85% and Nasdaq gained 0.43%.

  • Moods during the Asian trading session are mixed as well. Indices from China gain slightly while Nikkei and S&P/ASX 200 drop over 2% each. European futures point to a lower opening of the cash session on the Old Continent

  • There is still no agreement on the next US stimulus bill. However, Mnuchin said that negotiations will continue on Friday and Saturday

  • Manufacturing PMI from China for July came in at 50.1 pts (exp. 50.8 pts) while services gauge was reported at 54.2 pts (exp. 54.5 pts)

  • Japanese financial minister Aso said that FX stability is important for his country

  • Japanese industrial production increased 2.7% MoM in June (exp. +1% MoM)

  • UK government announced local lockdowns in Greater Manchester, East Lancashire and some parts of West Yorkshire. Tokyo found over 400 new cases yesterday - the highest on the record

  • Facebook reported EPS of $1.80 (exp. $1.39) and revenue of $18.68 billion (exp. $17.4 billion). Ad revenue came in at $18.3 billion (exp. $16.8-17.3 billion)

  • Amazon reported EPS of $10.30 (exp. $1.46) and revenue of $88.9 billion (exp. $81.24 billion). Company sees Q3 net sales in $87-93 billion range

  • Alphabet reported adjusted EPS of $10.13 (exp. $8.21) and revenue of $38.9 billion (exp. $37.37 billion). Company approved $28 billion share repurchase (class C)

  • Apple reported EPS of $2.57 (exp. $2.07) and revenue of $59.69 billion (exp. $52.30 billion). Company announced 4-1 stock split

  • EUR and JPY are top movers among majors while CAD and USD lag the most.

More than 280,000 new coronavirus cases were reported yesterday for the second day in a row. Source: worldometers, XTB

Daily summary: US stocks struggled for momentum amid weak data
&2757$Technical alert: US100 &YC8$
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