Daily Summary: Wall Street in Bullish Moods During The Earning Season

• Wall Street benefits from the wave of high investor expectations regarding quarterly earnings season for companies.

• S&P 500 is up 0.25% to 4565 points, the Nasdaq 100 is trading flat at 15845 points, and the Russell 2000 is up 1.30%. Wall Street indices are heading towards record levels, maintaining their year-highs.

• Apple stocks are gaining and reaching historic highs after the company announced its new generative artificial intelligence model. The company stated that it is currently building its strategy in this segment, and the model is being used for internal purposes. Apple's market capitalization today reaches $3.06 trillion.

• Data from the real estate sector, including housing starts and building permits, shows a slightly weaker state in the American real estate market, which is associated with higher rates.

• The report from the Energy Information Administration (EIA) reveals that the change in oil inventories was -0.71 million barrels, which is less than the expected -2.2 million barrels and significantly lower than the previous result of 5.95 million barrels.

• Inflation in the UK dropped to 7.9% YoY for June, with an expectation of 8.2% YoY and a previous level of 8.7% YoY.

• Goldman Sachs announced its results for the second quarter of 2023, which did not meet expectations. Its profits dropped to $1.07 billion or $3.08 per share, compared to $2.79 billion or $7.73 per share in the same period last year.

• Goldman Sachs' results were anticipated after other banks published good results, with the investment segment being the weakest (Goldman Sachs' main area).

• Car sales in Europe continue their upward trend. According to the European Automobile Manufacturers' Association, new vehicle registrations increased by 19% to 1.27 million vehicles in June, with electric cars accounting for 55% of the growth. Diesel cars, on the other hand, experienced a decline of nearly 10%.

• Shares of Kering (KER.FR), the owner of Gucci, Yves Saint Laurent, and Balenciaga, are gaining over 6.5% at the beginning of the session following the resignation of the company's CEO. This change is intended to revitalize the Group's businesses.

• Today, the Canadian dollar (CAD) is one of the stronger currencies, but the US dollar is also gaining. The EURUSD pair is falling below the 1.12 level.

• Energy commodities are gaining today, with LSGASOIL leading the increases with a 1.8% gain. Brent oil contracts are trading slightly above $80 per barrel.

• Cryptocurrencies are trading flat, with BTC holding just below the $30,000 level and ETH at $1,900. However, XRP is gaining momentum again, with its price rising to around $0.80 cents.

GBPUSD price experienced a significant decline following the inflation data from the UK. However, the currency pair found support at 1.2890, which is derived from the 1:1 geometry and the EMA100 moving average. Source: xStation5.