The Friday Market Minute
- Global equities mixed on the last trading day of the month, with Asia diminished by recovery concerns, and Europe and the United States increased the benefits of big technologies.
- Apple, Amazon, Facebook and Google exceeded Wall Street forecasts and revenue rose $ 205.2 million collectively.
- Concerns about U.S. growth, however, push the dollar to a two-year low and gold to an all-time high, during the overnight negotiation.
- U.S. coronavirus cases rose more than 68,000 on Thursday, to a total of 4.6 million.
- World oil prices are rising thanks to a weaker US dollar, but demand concerns remain a gross adjustment of up to $ 40 per barrel trading range
- U.S. futures suggest a firmer opening on Wall Street ahead of profits from Merck, ExxonMobil, Chevron and Colgate ahead of the start of trading and inflation and personal consumption data at 8:30 p.m. East.
Wall Street futures rose gains on Friday, driven by gains in the largest U.S. technology stocks after profits closed after trading closed yesterday, but concerns about the fate of the global economic recovery and rising coronavirus infection rates, remain in the cloud the sentiment of investors.
Apple Inc. (AAPL) ̵1; Get a report by itself, it will add at least 150 points to the Dow Jones industrial average at the start of trading, thanks to the previous market’s rise of 6% in shares after last night’s earnings report, which included revenue of about $ 60 billion and a better-than-expected line below $ 2.58 per share.
Apple’s plans to split its shares, which are currently trading north at $ 400 each, could reduce the Dow’s profits, given the impact of the tech giant on the price-weighted average.
Amazon Inc. (AMZN) – Get a reportIn addition, it will be a big boost for both the S&P 500 and Nasdaq, with 5.4% shares in the previous market after the online retailer posted quarterly earnings on sales of nearly $ 90 million.
However, the weak reading of GDP in the second quarter on Thursday, which showed an annual contraction of 32.9% – the strongest since records began – as well as a rise in weekly claims without employment, they were powerful reminders to investors that any home recovery will be preached in dressage. the spread of cornavirus, which has infected 4.6 million Americans and killed at least 154,000.
In fact, concern is expressed much more dramatically about the value of the U.S. dollar than in equities, with the two-year fund recovery down from the two global trading partners, during the fall of July. around 5%, the maximum in ten years.
Gold prices have also had their best month in nearly five years and have risen about 11% since late June to a new all-time high of $ 1,974.00 per ounce on overnight trading , as new coronavirus blocking orders were launched in the UK, and Japan threatened to impose new restrictions on movement and business in Tokyo amid a new outbreak in the capital.
Meanwhile, stocks are poised to win mixed opening bell on Friday, despite the impact of the Amazon, Apple and Facebook store (FB) – Get a report and Google (GOOGL) – Get a report, with futures contracts linked to the Dow suggesting an advance of 55 points and those linked to the S&P 500, which increases by 4.7% per month, indicating a stronger jump of 15 points.
Meanwhile, Nasdaq Composite futures are leading to a 180-point opening bell gain that would allow the technology-focused index to a current all-time high.
European equities also posted solid anticipated gains, with the Stoxx 600 rising 0.72% in early trading, up 0.8% from the DAX performance index in Germany and 0.6% % for the FTSE 100 in London.
The euro, however, continues its best month against the dollar for a decade, after hitting for the first time since May 2018 the level of 1.19 of overnight trading, and the pound rose to to a month and a half of 1.3134 against the fall of green.
The weakening dollar helped global oil prices bounce further on Friday, despite concerns about demand related to the resurgence of COVID-19 and mixed industrial data from China.
WTI contracts for September delivery, the U.S. benchmark, 30 cents higher than Thursday’s close in New York and changed hands at $ 40.22 per barrel in early European treatment, while contracts September Brent, the global benchmark, was seen 30 cents higher at $ 43.08 a barrel.
Overnight in Asia, Japan’s Nikkei 225 fell 2.82% in the session to push the benchmark into negative territory during the month, driven by last night’s falls on Wall Street and a yen stronger, while the ex-Japan MSCI index across the region. the broadest measure of stock prices fell 0.31% in the last hours of trading.