On Tuesday, U.S. stocks closed higher thanks to a strong rally in the final moment of the trading session. The Dow Jones Industrial Average rose 217 points (+0.85%) to 25812, the S&P 500 gained 47 points (+1.54%) to 3100, and the Nasdaq 100 was up 195 points (+1.96%) to 10156.

Dow Jones Industrial Average: Daily Chart

- advertisement -

Semiconductors & Semiconductor Equipment (+2.89%), Commercial & Professional Services (+2.34%) and Energy (+2.2%) sectors were market leaders. Citizens Financial Group (CFG +7.27%), Hologic (HOLX +6.88%) and Xilinx Inc (XLNX +6.99%) were top gainers. Boeing (BA -5.75%) shares dropped after Norwegian Air Shuttle canceled an order for 97 Boeing jets,

On the technical side, about 38.5% (34.9% in the prior session) of stocks in the S&P 500 Index were trading above their 200-day moving average, and 17.7% (12.5% in the prior session) were trading above their 20-day moving average.

Regarding U.S. economic data, the Market News International’s Chicago Business Barometer rose to 36.6 in June (45.0 expected), and the Conference Board’s Consumer Confidence Index jumped to 98.1 (91.5 expected).

Due later today are the Automatic Data Processing (ADP) Jobs Report (an addition of 2.850 million private jobs in June expected), Markit’s U.S. Manufacturing Purchasing Mangers’ Index (49.6 for June expected), Construction Spending (+1.0% on month in May expected). And the Federal Open Market Committee (FOMC) would release minutes of its latest meeting.

European stocks closed mixed. The Stoxx Europe 600 Index edged up 0.1%, Germany’s DAX 30 increased 0.6%, while France’s CAC 40 declined 0.2% and the U.K.’s FTSE 100 was down 0.9%.

The benchmark 10-year Treasury yield climbed 3 basis points to 0.660%.

Spot gold price advanced $7.00 (+0.5%) to $1,780 an ounce extending its winning streak to a fourth session.

U.S. WTI crude oil futures (August) declined 1.1% to $39.27 a barrel.

On the forex front, the ICE U.S. Dollar Index marked a day-high of 97.80 before closing flat on day at 97.38.

EUR/USD slipped 0.1% to 1.1235. Official data showed that the eurozone’s CPI grew 0.3% on year in June (+0.2% expected). Later today, Germany’s jobless rate for June (6.5% expected) and retail sales data for May (+3.5% on month expected) will be released.

GBP/USD rebounded 0.8% to 1.2392. Government data showed that U.K. first quarter GDP growth was confirmed at -1.7% on year (-1.6% expected).

USD/JPY rose 0.4% to a three-week high of 107.97. This morning, Japan’s Tankan Large Enterprises Manufacturing Index slid to -34 in the second quarter (-31 expected) from -8 in the first quarter, and the Large Enterprises Non-manufacturing Index fell to -17 in the second quarter (-20 expected) from 8.

 

Previous articleGBP/USD Rebounds Sharply Intraday
Next articleGold Intraday: Aim Higher
DISCLAIMER: The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase of sale of any currency. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.