Wall Street and global stock markets edged higher to close July trading while global Crude Oil prices rose and the US Dollar was muted, as traders welcomed key corporate earnings and employment reports due this week.
Closing the month of July, Wall Street and global stock markets edged higher, while global Crude Oil prices rose and the US Dollar was unchanged, as traders welcomed key corporate earnings and employment reports due this week.
Last week was dominated by a number of central bank meetings, where the Federal Reserve and European Central Bank raised US & Eurozone interest rates by 25 bps to 5.25-5.50% and 4.25% respectively, with market participants expecting them to move closer to the end of the rate hike cycle; while Bank Indonesia’s Board of Governors Meeting kept the BI7DRR rate unchanged at 5.75%.
Global stock markets posted gains while US Treasury yields fell on Friday (07/28/23) as markets digested the Bank of Japan’s decision to alter their extra-loose monetary policy, as well as data showing continued moderation in US annual inflation.
All three major US indexes ended last week in solidly positive territory with the Nasdaq again leading the gains by rising 1.9% after a raft of sentiment from Big Tech companies’ earnings reports, economic data, and central bank announcements boosted investors’ confidence in a soft landing for the U.S. economy.
Global equity markets fell while the U.S. dollar gained, following news of stronger-than-expected US economic growth despite consecutive interest rate hikes from the Federal Reserve and European Central Bank.
The Dow Jones snapped a 13-day win streak Thursday (27/07.23), as rally in Meta was offset by weakness in financials and airline stocks amid underwhelming quarterly results.
Global stock markets mostly closed flat, while US bond yields fell on Wednesday (26.07.23) after the Federal Reserve set its 11th consecutive interest rate hike aimed at controlling Inflation.
US stocks closed relatively unchanged on Wednesday (26/07/23), but the Dow Jones managed to scored a 13-day gain streak, following a Federal Reserve rate hike that left the door open for future hikes.
