- Bullish move in the Chinese stock market improved sentiment in the Europe. The PBoC rate cut supported a nearly 2% rebound in Hang Seng futures. After a successful session in Asia, the European session saw gains in major stock benchmarks; Germany's DAX gained nearly 1.3%. Despite that Ryanair shares dropped nearly 17% today after disappointing financial results for the second quarter of the year.
- Indices on Wall Street are posting solid gains today, with the Nasdaq 100 leading the way on the upside, trading up 1.5%. The S&P500 is gaining more than 1%, and the Russell 2000 is up almost 1%. Nvidia is gaining more than 4.4% today on a wave of reports that it is potentially designing B20 chips to meet sales requirements for the Chinese market.
- Semiconductors stocks are also higher, with Lam Research rising over 5%. Shares of Tesla and Alphabet gains 5% and 2% ahead of tomorrow scheduled earnings (after the US session)
- Verizon's financial results came as a disappointment to Wall Street. The company reported revenue slightly below forecasts and earnings per share in line with expectations
- CrowdStrike shares deepen declines and lost nearly 13% today. At the same time, Sentinel One gains nearly 8% on the back of an expected increase in cybersecurity market share
- The Chicago Fed regional index came in above expectations; at 0.05 versus -0.09 forecast and 0.23 (revised) previously
- Natural gas gains nearly 6% today, after NOAA updated weather forecasts for the U.S., where an unexpected heat wave is expected for the North, Northeast and Midwest US regions, suggesting higher heating demand
- Cocoa futures are gaining nearly 7% by rising concerns about the future of the West African crop.
- In the currency market, the weakest G10 currency today is the Australian dollar, losing -0.6%. The New Zealand dollar is also recording declines, with a -0.5% drop.
- Cryptocurrencies are seeing limited volatility today, with Bitcoin losing -1%. Traders are slowly preparing for tomorrow's debut of Ethereum ETFs and Trump's speech, planned on Bitcoin Conference in Nashville on Saturday, July 27
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