Market Minute on Friday
- Global shares mixed on the last trading day of the month, with Asia held back by recovery worries and Europe and the US soared with huge tech gains.
- Apple, Amazon, Facebook and Google all beat Wall Street forecast, with revenues growing to a combined $ 205.2 billion.
- U.S. growth concerns, however, are pushing the dollar to a new two-year low, and gold is at an all-time cool in overnight trading.
- U.S. coronavirus cases rose by more than 68,000 on Thursday, totaling 4.6 million.
- Global oil prices are rebounding thanks to a weaker US dollar, but demand concerns keep it firmly at $ 40 for its barrel trading range.
- The future of U.S. capital suggests a stronger opening on Wall Street ahead of earnings from Merck, ExxonMobil, Chevron and Colgate ahead of the start of trading and inflation and personal consumption data at 8:30 a.m. Eastern time.
The future on Wall Street extended earnings on Friday, being offset by gains for the biggest U.S. tech stocks after block gains after trading closed yesterday, but continuing concerns about the fate of the global economic recovery, and rising levels of coronavirus infection, continue to be felt by investors.
Apple Inc. (AAPL) ̵1; Get the report will only add at least 150 points to the Dow Jones industrial average at the start of trading, thanks to the market growth before 6% of the shares after last night block earnings ratio, which included nearly $ 60 billion in revenue and one more better than expected at the end of $ 2.58 per share.
Apple plans to split its shares, which are the current north trade of $ 400 each, could hold profits for the Dow, given the tech giant’s impact on the weighted average of prices.
Amazon Inc. (AMZN) – Get the report, will also provide a big boost to the S&P 500 and Nasdaq, with shares up 5.4% in pre-market after the online retailer posted a record quarterly profit from sales of nearly $ 90 billion.
However, the grim reading of GDP for the second quarter, which showed an annual contraction of 32.9% – the sharpest since registrations began – as well as a rise in weekly unemployment claims, was a powerful reminder to investors that any Internal recovery will be projected to mitigate the spread of the cornavirus, which has infected 4.6 million Americans and killed at least 154,000.
In fact, those concerns have been expressed much more dramatically in the value of the US dollar than those in stocks, with the green turning into a new two-year low against a basket of its global counterparts in overnight trading, taking its toll July at about 5%, at most in ten years.
Gold prices, too, have had their best month in nearly five years, rising nearly 11% since the end of June to a record high of $ 1,974.00 an ounce in overnight trading after orders new coronavirus blockades were deployed in the UK, and Japan threatened to impose new restrictions on movement and business in Tokyo amid a new outbreak in the capital.
Reserves, meanwhile, are set for various profits from the opening of the bell on Friday, despite the influence of the power plant from Amazon, Apple, Facebook (FB) – Get the report and Google (googl) – Get the report, with Dow-linked futures suggesting a 55-point advantage and S&P 500-linked, which is 4.7% for the month, showing a stronger jump of 15 points.
The Nasdaq composite future, meanwhile, is leading to a 20-point earnings gain that would boost the technology-focused index to a fresh all-time high.
European stocks reserved solid earnings early, too, with the Stoxx 600 rising 0.72% in early trading, set by a 0.8% gain for the DAX performance index in Germany and a 0.6% gain for the FTSE 100 in London .
The euro, however, is at its best monthly pace against the dollar in a decade, having hit overnight level 1.19 in overnight trading for the first time since May 2018, with the pound rising in a month and a half to four and a half. high of 1.3134 against the green fall.
The weak dollar helped global oil prices jump on Friday, despite demand concerns related to the COVID-19 revival and mixed industrial data from China.
WTI contracts for September delivery, the US standard, 30 cents higher than their closing in New York on Thursday, were changing hands at $ 40.22 a barrel in early European deals, while Brent contracts for September, as the world standard, were seen 30 cents higher at $ 43.08 a barrel.
Overnight in Asia, Japan’s Nikkei 225 fell 2.82% in session to push the negative territory rating point for the month, driven by overnight declines on Wall Street and a stronger yen as the MSCI index former japan, region-wide, region the widest measure of stock prices, fell 0.31% in the last trading hours.