Over the next few days, investors will be closely monitoring what Fed Chairman Jerome Powell delivers at tomorrow’s press conference for clues on the Fed’s next monetary policy direction.
The US stock market managed to close in positive territory, with the NASDAQ leading the gains with a plus 0.61%; ahead of the quarterly earnings releases from Microsoft & Alphabet which will give a snapshot on the cost of business in the Technology sector.
The Dow posted its longest winning streak since February 2017, supported by Chevron shares which rose nearly 2% as the oil giant reported an upbeat quarterly earnings forecast over the weekend.
The Dow Jones closed green again on Monday (24/07/23) and recorded 11 consecutive winning days (the longest winning streak in six years) as investors bet on sectors beyond technology in a week filled with 2Q23 earnings reports; as well as welcoming this week’s FOMC Meeting.
Kelompok ini mencakup usaha perdagangan besar bahan bakar gas, cair, dan padat serta produk sejenisnya, seperti minyak bumi mentah, minyak mentah, bahan bakar diesel, gasoline, bahan bakar oli, kerosin, premium, solar, minyak tanah, batu bara, arang, ampas arang batu, bahan bakar kayu, nafta, bahan bakar nabati (biofuels) dan bahan bakar lainnya termasuk pula bahan bakar gas (LPG, gas butana dan propana, dan lainlain) dan minyak semir, minyak pelumas dan produk minyak bumi yang telah dimurnikan, serta bahan bakar nuklir.
China released another disappointing economic growth data after the previous week they revealed mounting deflationary pressures, in PPI (June) they recorded the sharpest decline since 2015 triggered by both domestic and foreign demand which both weakened; and CPI (June) which also remained flat at 0% YoY which is the slowest growth since 2021.
Asia-Pacific markets fell into negative territory on Friday trading (07/21/23) as investors weighed China’s stimulus moves and digested Japan’s consumer price index figures for June that were heating up.
The Dow Jones closed higher for the 10th consecutive day at the end of last week, the longest rally in 6 years. Asia-Pacific markets fell into negative territory on Friday trading (07/21/23) as investors weighed China’s stimulus moves and digested Japan’s consumer price index figures for June that were heating up.
Wall Street stocks were mixed; as the US Dollar rose over other major world currencies, while US Treasury prices slipped. Economic data released on Thursday also indicated that the labor market in the US remains fairly tight, while the housing and manufacturing sectors remain sluggish.
