The JPY is the strongest and the CAD is the weakest as the last day of the month is upon us. The major averages in the US are at 7 week highs. The Dow has its best since October (up 5.7%). The S&P is up around 7.6% in July. The Nasdaq is up 10.3% in July.
The Apple and Amazon were better than expectations. Intel missed on top and bottom line. Apple is trading at $161.54 after closing at $157.39 yesterday. Amazon is trading at $135.89 after closing at $122.26 yesterday. Intel is trading at $35.20 after closing at $39.71 yesterday. Chevron reported and is up on the day. Procter and Gamble is lower after their earnings. Exxon Mobile is higher after stronger earnings and trades at $94.75 vs $92.64 at the close yesterday.
Europe GDP growth surprised to the upside today with stronger gains of 1% in Italy and 1.1% and Spain. France also beat expectations with a 0.5% growth rate. Overall euro zone GDP rose by 0.7% and 4.0% year on year (expected 0.2% and 3.4% respectively)
Oil is higher on increased demand hopes. Gold is steady after 2 strong days to the upside on a weaker dollar
In other markets
- spot gold is trading up $1.69 or 0.09% at $1757.70 after 2 strong days to the upside on the weaker dollar
- spot silver is down $0.02 or -0.17% at $19.96 after cracking above the $20 level once again
- WTI crude oil is trading up $2.22 and $98.64
- The price of bitcoin is modestly lower $23,684. That is down from the high of $24,445 overnight (highest level since June 13).
In the premarket for US stocks, the major indices are higher and looking for the 3rd consecutive day to the upside
- Dow industrial average is up 52 points after yesterdays at 332.04 rise yesterday
- S&P index is up 22 points after yesterdays 48.8 point rise
- NASDAQ index is up 99 points after yesterdays 130.17 point rise
In the European equity markets, the major indices are higher after the better GDP:
- German Dax, +1.24%
- France's CAC +1.68%
- UK's FTSE 100 +0.57%
- Spain's Ibex +0.82%
- Italy FTSE MIB, up 2.25%
In the US debt market, yields are higher after sharp declines yesterday and this week:
- 2 year 2.915%, +4.9 basis points
- 5 year 2.738%, +3.7 basis points
- 10 year 2.707% +2.7 basis points
- 30 year 3.052%, +2.6 basis points