You are here: Home > articles > Commodities > Forex > Wall Street trades subdued at the start of the week
Wall Street trades subdued at the start of the week
July 4, 2023 3:23 amVideo
Latest News
- Analysis of GBP/USD on April 26th. The pound trades on Friday without changes April 26, 2024
- USD/JPY: Simple trading tips for novice traders on April 26th (US session) April 26, 2024
- GBP/USD: Simple trading tips for novice traders on April 26th (US session) April 26, 2024
- EUR/USD: Simple trading tips for novice traders on April 26th (US session) April 26, 2024
- GBP/USD: trading plan for the US session on April 26th (analysis of morning deals). The pound attempted, but it didn’t go April 26, 2024
- EUR/USD: trading plan for the US session on April 26th (analysis of morning deals). The euro continues to rise April 26, 2024
- Trading Signals for GOLD (XAU/USD) for April 26-29, 2024: buy above $2,324 and sell below $2,352 (21 SMA – 6/8 Murray) April 26, 2024
- Technical Analysis – AUDUSD set to complete best week of the year April 26, 2024
- Will Apple finally drop its AI hint? – Stock Markets April 26, 2024
- Bitcoin slips as markets pare back Fed rate cuts – Crypto News April 26, 2024
- EUR/USD. April 26th. Bulls continue to advance after the GDP report April 26, 2024
- Can Chinese PMIs solidify the economy’s recovery prospects? – Preview April 26, 2024
- Weekly Forex Outlook: 26/04/2024 – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too April 26, 2024
- XM’s Lombok Collaboration: Brightening Futures April 26, 2024
- Week Ahead – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too April 26, 2024
- Market Comment – Yen keeps sinking after Bank of Japan decision April 26, 2024
- Fed faces dilemma amid sticky inflation and slowing economy – Preview April 26, 2024
- USD/JPY: trading tips for beginners for European session on April 26 April 26, 2024
- GBP/USD: trading tips for beginners for European session on April 26 April 26, 2024
- EUR/USD: trading tips for beginners for European session on April 26 April 26, 2024
Trading volume on Monday is reduced, as markets are in anticipation of the July 4 holiday in celebration of Independence Day in the U.S.
Markets may also be assessing U.S. statistics published earlier on Monday. Specifically, the U.S. Manufacturing ISM Index in June dropped to 46% from May’s 46.9%, although analysts had expected the index to rise to 47%.
As of 13:36 Greenwich Mean Time, the Dow Jones Industrial Average was down 83 points or 0.2%, while the S&P 500 fell by 0.1%, and the NASDAQ Composite rose by 0.2%.
This year, global equity markets have stopped being dependent on a worsening economic backdrop and have added about 13%. Today, a number of leading global capital managers began to warn that chasing the rally further would be risky, and corporate profits will also begin to decline.
Shares of Tesla Inc (NASDAQ:TSLA) jumped 8.3% after the electric car manufacturer exceeded expectations for Q2 deliveries. This year, the company’s shares have more than doubled.
The stock market is starting the second half of 2023 on a positive note
Monday is the first trading day of the second half of 2023, after all three indices rose on the last day of the first half of the year. This year, the Nasdaq has risen almost 32%, marking its best first-half performance in decades.
This week, a wealth of employment data is expected, including reports on new job openings and June job vacancies. Analysts expect that 225,000 jobs were created in the U.S. economy last month.
July’s Fed meeting comes to the forefront
On Wednesday, the U.S. Federal Reserve will publish its minutes from its latest meeting, at which it decided to pause the rate hikes after they had been raised 10 times in a row to curb inflation. Last week’s inflation report showed that prices cooled more than expected.
Futures traders believe there is an 86% chance that the Fed will raise the rate at the July meeting, as it continues to push inflation towards the target level of 2%. Despite the cooling, inflation is twice this figure, standing at 3.8%, according to the Personal Consumption Expenditures index for May published last week.
Stock trading in New York will end early on Monday
Monday is expected to be a quiet trading day, as the stock exchange will close at 1:00 PM Eastern Time and will be closed due to the Independence Day holiday in the U.S. on Tuesday.
Apple (NASDAQ: AAPL) shares fell 0.5% after the company’s market value surpassed $3 trillion for the first time during last week’s rally.
Oil prices rose. WTI futures rose 0.1% to $70.64 per barrel, and Brent futures rose 0.1% to $75.47 per barrel. Gold futures rose 0.1% to $1,931.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: