Stocks mixed ahead of Federal Reserve meeting - 26.7.2022

Senior Analytical Expert

Articles:1008

Todays’ Market Summary

The Dollar weakening continues
Futures on three main US stock indexes are down
Brent is extending gains currently.
Gold prices are edging up currently

Top daily news

Global stocks are pointing in different directions currently ahead of two-day Fed meeting starting today after Wall Street closed mixed on Monday. Tesla shares lost 1.4% underperforming market while Tesla’s chief financial officer told analysts the company netted a $106 million cost after impairment charges offset gains following the sale of Bitcoin in Q2 which added $936 million in cash to its balance sheet, Walmart stock dropped nearly 9% after-hours Monday after the retailer cut its Q2 and full 2023-year guidance.

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Forex news

Currency Pair	Change
EUR USD	+0.03%
GBP USD	+0.04%
USD JPY	-0.02%
AUD USD	+0.19%

The Dollar weakening continues currently. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, slipped 0.1% on Monday.

EUR/USD joined GBP/USD’s accelerated advancing Monday despite Germany’s Ifo Institute report business morale plunged in July to its lowest level for more than two years. Both pairs are up currently. Both USD/JPY and AUD/USD reversed their retreating yesterday with both the Australian dollar and yen higher against the Greenback currently.

Stock Market news

Indices	Change
Dow Jones Index	-0.09%
Nikkei Index	-0.2%
Hang Seng Index	+1.34%
Australian Stock Index	-0.37%

Futures on three main US stock indexes are down currently ahead of the Conference Board Consumer Confidence data at 16:00 CET today with the yield on benchmark 10-year Treasury notes inching down to 2.79%.The three benchmark indexes recorded daily returns ranging from -0.4% to 0.1% on Monday.

European stock indexes are down currently after closing mixed Monday as banks shares led gainers while travel and leisure stocks led losses. Asian indexes futures are mixed today with Hong Kong’s Hang Seng index leading gains.

Commodity Market news

Commodities	Change
Brent Crude Oil	+2.3%
WTI Crude	+2.2%

Brent is extending gains currently. Prices ended higher yesterday after Russian Central Bank Governor Elvira Nabiullina said Russia would not supply oil to countries that imposed a price cap on its oil. US West Texas Intermediate WTI rallied 2.1% and is higher currently. Brent rose 1.9% to $105.16 a barrel on Monday.