- Wall Street indices finished yesterday's trading lower, after a tech driven sell-off. Nasdaq plunged 2.76%, while S&P 500 slumped 1.39%. Dow Jones gained 0.59%. Small-cap Russell 2000 dropped 0.99%
- Sell-off was triggered by media reports suggesting US may place additional trade restriction on chip companies, who provide China with advanced semiconductor technology
- Philadelphia Semiconductor Sector index plunged 6.8% yesterday as chip stock sank. Nvidia dropped 6.6%, while AMD slumped over 10%
- Indices from Asia-Pacific trade mostly lower today - Nikkei slumps 2.2%, Australian S&P/ASX 200 declines 0.3%, Kospi drops 1.2%, Nifty 50 trades 0.1% lower, while indices from China gain 0.2-0.5%
- European index futures point to a slightly higher opening of the cash session on the Old Continent today
- US President Joe Biden tested positive for Covid. Biden has mild symptoms and will self-isolate. He will continue to perform his duties from home
- Australian employment increased 50.2k in June (exp. +20k), while the unemployment rate ticked higher from 4.0% to 4.1% (exp. 4.0%)
- Japanese exports were 5.4% YoY higher in June (exp. 6.4% YoY), while imports were 3.2% YoY higher (exp. 9.3% YoY). Trade balance for June showed 224 billion JPY surplus (exp. 240 billion JPY deficit)
- Major cryptocurrencies gain slightly - Bitcoin gains 0.6%, while Ethereum adds 0.2%. However, altcoin are dropping mostly
- Energy commodities trade mixed - oil gains 0.4%, while US natural gas prices drop 1%
- Precious metals gain - gold adds 0.4%, platinum and palladium gains 0.3% each, while silver jumps 0.5%
- AUD and JPY are the best performing major currencies, while CHF and NZD lag the most
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