Global Markets:
- Asian Stock Markets : Nikkei down 0.46%, Shanghai Composite down 0.04%, Hang Seng up 0.62%, ASX down 0.15%
- Commodities : Gold at $1972.90 (+0.09%), Silver at $25.047 (+0.36%), Brent Oil at $80.34 (+0.88%), WTI Oil at $76.34 (+0.91%)
- Rates : US 10-year yield at 3.843, UK 10-year yield at 4.308, Germany 10-year yield at 2.385
News & Data:
- (USD) Unemployment Claims 228K vs 239K expected
- (USD) Philly Fed Manufacturing Index -13.5 vs -10.1 expected
- (USD) Existing Home Sales 4.16M vs 4.21M expected
Markets Update:
Asian markets had a mixed performance on Friday as investors analyzed Japan’s consumer price index figures for June. Japan’s core inflation rate came in at 3.3%, meeting economists’ expectations and surpassing the Bank of Japan’s 2% target. The country’s headline inflation rate also stood at 3.3%, up from the previous month’s 3.2%. While the Nikkei 225 fell 0.46%, the Topix managed to rise 0.21%, and South Korea’s Kospi experienced a marginal decline. In contrast, Hong Kong’s Hang Seng index climbed 0.72%, and mainland Chinese stocks showed positive gains.
The Australian market faced challenges on Friday, with the S&P/ASX 200 sliding 0.15% lower. Investors closely analyzed local economic indicators and global factors impacting trading sentiment. Uncertainty loomed, prompting investors to monitor international developments, particularly in the United States, for potential impacts on the Australian market.
In the U.S., the Dow Jones Industrial Average continued its impressive streak, registering a nine-day winning streak, thanks to better-than-expected earnings results from Johnson & Johnson. However, the broader market suffered after post-earnings declines in trader favorites Netflix and Tesla. As a result, the S&P 500 slipped 0.68%, and the Nasdaq Composite tumbled 2.05%. These developments showcased the contrasting performances in different sectors and individual stocks, creating a complex and dynamic global trading landscape for investors.
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