Global Markets:
- Asian Stock Markets : Nikkei up 0.34%, Shanghai Composite down 0.21% Hang Seng down 1.07% ASX down 1.02%
- Commodities : Gold at $4,379.87 (-0.91%) Silver at $64.085 (-1.40%), Brent Oil at 87.14 (0.08%), WTI Oil at 81.37 (0.14%)
- Rates : US 10-year yield at 4.655, UK 10-year yield at 4.9563, Germany 10-year yield at 3.1390
News & Data:
- (USD) Unemployment Claims
- 209% to 202% expected
Markets Update:
U.S. stock futures were little changed early Friday following a record-setting session, with the S&P 500 and Nasdaq Composite on track for their third consecutive weekly gains.
S&P 500 futures hovered near the flatline, while Nasdaq-100 futures edged lower. Dow Jones Industrial Average futures rose about 37 points. On Thursday, the S&P 500 reached an intraday record of 7,816.70 and also finished at an all-time high. Technology and communication services stocks led gains, climbing roughly 1% each.
Asian markets were mixed. Japan’s Nikkei 225 gained 0.44%, while the Topix rose 0.49%. South Korea’s Kospi advanced 1.14%, although the Kosdaq slipped 0.57%. Hong Kong’s Hang Seng fell 0.93%, China’s CSI 300 edged down 0.12%, and Australia’s S&P/ASX 200 declined 0.92%.
Investors remain encouraged by strong corporate earnings. With more than 90% of S&P 500 companies reporting second-quarter results, earnings growth is tracking around 50% from a year earlier, according to FactSet.
Software stocks have also rebounded strongly after a weak first quarter. The iShares Expanded Tech-Software Sector ETF has gained about 28% over six months.
Heading into Friday, the S&P 500 was up 0.5% for the week, while the Nasdaq had gained 0.4%. The Dow was down 0.4%. Investors will focus on July retail sales, expected to rise 0.1% month over month.
Upcoming Events:
- 2:00 PM GMT – USD Prelim UoM Consumer Sentiment
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