Global stocks lower after tech sell-off, Amazon, U.S. GDP eyed

Investing.com - Global stocks were mostly lower Friday after a sell-off in tech stocks amid valuation concerns.
Investors are looking to U.S. Q2 GDP data due out later in the session.
{178|Nikkei 225}} was off 0.60%. The yen was mostly flat against the dollar at the 111 mark.
Europe lower with banks in focus after slew of earnings.
DAX off 0.75%. (DE:Adidas) jumps after raising forecasts.
CAC 40 off 1.32% as (PA:Renault) deflated by disappointing earnings. Euro at $1.17 mark.
FTSE 100 off 0.74%. Sterling firm at a tad below $1.31 mark.
U.S. stock index futures lower after mixed Wall St overnight. (NASDAQ:Amazon) in focus after earnings miss.
Dollar index remains weak ahead of U.S. second-quarter GDP figures.
Oil mixed ahead of Baker Hughes rig count data.
Gold flat. U.S. Treasury yields mostly higher.

Top 5 things to know in the market on Friday

Investing.com - Here are the top five things you need to know in financial markets on Friday, July 28:

1. Dollar continues to hover near 13-month lows on Fed statement

The U.S. dollar was still trading near 13-month lows against a basket of the other major currencies after the Federal Reserve's more cautious tone on the U.S. inflation outlook on Wednesday sparked fresh uncertainty over the possibility of a third rate hike this year.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.21% at 93.57, just off Thursday’s 13-month low of 93.00.

The Fed also said it expected to start shrinking its balance sheet "relatively soon", prompting expectations for an announcement in September.

Traders will eye data from the U.S. to gauge the strength of the world's largest economy and how it will impact the Fed's view on monetary policy.

Advance second-quarter GDP data is due at 8:30AM ET (1230GMT), while the University of Michigan is set to release a revised report on consumer sentiment and inflation expectations at 10.00AM ET (1400GMT)

2. Republicans fail to repeal Obamacare

Senate Republicans failed to pass their Obamacare repeal bill in a dramatic vote of 49-51 late Thursday night.

At least three Republicans, including Sen. John McCain, voted against the bill which needed a simple majority to pass in the Senate. President Donald Trump reacted to the vote by saying the three had "let the American people down".

3. Markets brace for fresh batch of corporate earnings

About 60 S&P 500 companies are due to report corporate results, making it the busiest day of the reporting season.

Exxon Mobil Corporation (NYSE:XOM), Chevron Corporation (NYSE:CVX), Merck & Company Inc (NYSE:MRK), AbbVie Inc (NYSE:ABBV), LyondellBasell Industries NV (NYSE:LYB), American Airlines Group (NASDAQ:AAL) and Ventas Inc (NYSE:VTR) are among the big names reporting before the opening bell.

4. Europe’s biggest lenders report results

The financial sector was at the forefront on Friday as a number of major European lenders reported their latest earnings.

BNP Paribas SA (PA:BNPP) reported better-than-expected second-quarter earnings, saying that a diversified banking model helped it to weather the recent trading activity downturn more successfully than other large lenders.

Banco Santander (MC:SAN) said on Friday that net profit and net interest income rose in line expectations. In addition, CEO Ana Botín said that executives are "extremely confident that the acquisition of Popular will deliver a return on investment of 13%-14% by 2019."

In Switzerland, UBS Group AG (SIX:UBSG) also posted better-than-expected second-quarter profits on Friday.

On a less positive note, Barclays PLC (LON:BARC) reported a loss of £1.2 billion in the first half of the year, weighed down by its withdrawal from Africa and the ongoing payment protection insurance scandal.

5. Gold takes a breather after rally to 6-week highs

Comex gold futures were steady at $1,259.97 a troy ounce on Friday, as investors locked in profits a day after the precious metal reached its highest level since June 15 at $1,265.00. Gold prices strengthened as the Federal Reserve’s most recent policy statement fueled concerns over future rate hikes.

The precious metal is sensitive to moves in U.S. rates, which lift the opportunity cost of holding non-yielding assets such as bullion.

Elsewhere on the Comex, silver futures were also little changed at $16.56, after hitting five-week high of $16.81 a troy ounce on Thursday.

Meanwhile, copper futures stayed near their highest level in more than two years amid talk China may ban imports of some scrap metal from the end of 2018.

Philippines stocks higher at close of trade; PSEi Composite up 0.32%

Investing.com – Philippines stocks were higher after the close on Friday, as gains in the Banking&Financials, Services and Property sectors led shares higher.

At the close in Philippines, the PSEi Composite added 0.32% to hit a new 52-week high.

The best performers of the session on the PSEi Composite were Globe Telecom Inc (PS:GLO), which rose 2.21% or 46.00 points to trade at 2126.00 at the close. Meanwhile, JG Summit Holdings Inc (PS:JGS) added 1.85% or 1.450 points to end at 79.950 and International Container Terminal Services Inc (PS:ICT) was up 1.79% or 1.900 points to 107.900 in late trade.

The worst performers of the session were Aboitiz Power Corp (PS:AP), which fell 3.00% or 1.20 points to trade at 38.80 at the close. LT Group Inc (PS:LTG) declined 2.06% or 0.380 points to end at 18.100 and First Gen Corp (PS:FGEN) was down 1.56% or 0.28 points to 17.62.

Rising stocks outnumbered declining ones on the Philippines Stock Exchange by 119 to 88 and 42 ended unchanged.

Shares in First Gen Corp (PS:FGEN) fell to 3-years lows; falling 1.56% or 0.28 to 17.62.

Gold Futures for August delivery was down 0.01% or 0.17 to $1259.83 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September rose 0.02% or 0.01 to hit $49.05 a barrel, while the September Brent oil contract rose 0.45% or 0.23 to trade at $51.72 a barrel.

CNY/PHP was up 0.05% to 7.5001, while USD/PHP fell 0.01% to 50.550.

The US Dollar Index Futures was down 0.18% at 93.60.

Gold prices stabilize amid profit-taking, U.S. data on tap

Investing.com - Gold prices held steady on Friday, as investors locked in profits from the precious metal’s rally to six-week highs on Thursday and as markets awaited the release of U.S. second-growth data due later in the day.

On the Comex division of the New York Mercantile Exchange, gold futures for August delivery were little changed at $1,259.28, off the previous session’s six-week high of 1,265.00.

The August contract ended Thursday’s session 0.85% higher at $1,260.00 an ounce.

Futures were likely to find support at $1,243.20, Wednesday’s low and resistance at $1,265.00, Thursday’s high.

The dollar remained under pressure after the Fed said on Wednesday that inflation remains below its 2% target even as near-term risks to the economic outlook appear “roughly balanced.” In the past, the Fed judged that weakness in inflation was transitory.

The central bank’s cautious tone on inflation sparked fresh uncertainty over the possibility of a third rate hike this year.

The Fed also said it expected to start shrinking its balance sheet "relatively soon", prompting expectations for an announcement in September.

The greenback was also weakened by data on Thursday showing that initial jobless claims rose by 10,000 to 244,000 last week. Analysts expected jobless claims to rise by 7,000 to 241,000 last week.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.15% at 93.64, not far from Thursday’s 13-month low of 93.00.

Gold is sensitive to moves higher in both U.S. rates and the dollar. A weaker dollar makes gold less expensive for holders of foreign currency, while a rise in U.S. rates lifts the opportunity cost of holding non-yielding assets such as bullion.

Elsewhere in metals trading, silver futures for September delivery slipped 0.23% to $16.533 a troy ounce, while copper futures for September delivery declined 0.54% to $2.862 a pound.

Taiwan stocks lower at close of trade; Taiwan Weighted down 0.81%

Investing.com – Taiwan stocks were lower after the close on Friday, as losses in the , Trading&Consumer Goods and Glass sectors led shares lower.

At the close in Taiwan, the Taiwan Weighted declined 0.81%.

The best performers of the session on the Taiwan Weighted were Taiwan Pelican Express Co Ltd (TW:2642), which rose 7.32% or 1.80 points to trade at 26.40 at the close. Meanwhile, Episil-Precision Inc (TW:3016) added 5.59% or 1.25 points to end at 23.60 and Ching Feng Home Fashions Co Ltd (TW:9935) was up 4.48% or 0.50 points to 11.65 in late trade.

The worst performers of the session were President Chain Store Corp (TW:2912), which fell 7.80% or 22.50 points to trade at 266.00 at the close. FocalTech Systems Co Ltd (TW:3545) declined 7.48% or 3.15 points to end at 38.95 and Asmedia Technology Inc (TW:5269) was down 7.26% or 31.50 points to 402.50.

Falling stocks outnumbered advancing ones on the Taiwan Stock Exchange by 538 to 194 and 142 ended unchanged.

Shares in Ching Feng Home Fashions Co Ltd (TW:9935) rose to 52-week highs; rising 4.48% or 0.50 to 11.65.

Crude oil for September delivery was down 0.12% or 0.06 to $48.98 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September fell 0.08% or 0.04 to hit $51.45 a barrel, while the August Gold Futures contract fell 0.06% or 0.80 to trade at $1259.20 a troy ounce.

USD/TWD was up 0.01% to 30.250, while TWD/CNY rose 0.18% to 0.2234.

The US Dollar Index Futures was down 0.11% at 93.67.

Australia stocks lower at close of trade; S&P/ASX 200 down 1.50%

Investing.com – Australia stocks were lower after the close on Friday, as losses in the Gold, Healthcare and Industrials sectors led shares lower.

At the close in Sydney, the S&P/ASX 200 lost 1.50%.

The best performers of the session on the S&P/ASX 200 were Fortescue Metals Group Ltd (AX:FMG), which rose 3.24% or 0.170 points to trade at 5.410 at the close. Meanwhile, Brickworks Ltd (AX:BKW) added 2.68% or 0.355 points to end at 13.605 and Ioof Holdings Ltd (AX:IFL) was up 1.17% or 0.115 points to 9.975 in late trade.

The worst performers of the session were Webjet Ltd (AX:WEB), which fell 6.47% or 0.820 points to trade at 11.850 at the close. Asaleo Care (AX:AHY) declined 5.67% or 0.080 points to end at 1.330 and A2 Milk Company Ltd (AX:A2M) was down 4.17% or 0.175 points to 4.025.

Falling stocks outnumbered advancing ones on the Sydney Stock Exchange by 731 to 414 and 331 ended unchanged.

The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was up 10.90% to 13.482.

Gold Futures for August delivery was down 0.03% or 0.32 to $1259.68 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September fell 0.14% or 0.07 to hit $48.97 a barrel, while the September Brent oil contract fell 0.16% or 0.08 to trade at $51.41 a barrel.

AUD/USD was up 0.04% to 0.7970, while AUD/JPY fell 0.23% to 88.44.

The US Dollar Index Futures was down 0.11% at 93.67.

Asian shares weaker in cautious trade, Nissan, Toshiba eyed

Investing.com - Asian shares mostly fell on Friday and as investors looked ahead to more corporate earnings due during the session and were cautious on the dollar.

Japan's Nikkei 225 slid 0.42%. Shares of Nissan were down 4.68% after the automaker announced a 12.8% on-year fall in operating profit for its fiscal first quarter Thursday. The company recorded operating profit of 153.3 billion yen ($1.38 billion) for its April-to-June quarter, below forecasts for 171.45 billion yen, Reuters said.

Toshiba reached a deal to pay SCANA $2.168 billion to exit from incomplete U.S. nuclear projects undertaken by Toshiba subsidiary Westinghouse, Reuters reported. Toshiba was expected to make the payout in installments starting in October, Reuters said. Toshiba shares were down 8.23%.

In Australia, the S&P/ASX 200 fell 1.21%, driven by broad-based losses across its sub-indexes. The heavily-weighted financials sub-index was down 1.6%. Hong Kong's Hang Seng Index edged down 0.54%. On the mainland, the Shanghai Composite slipped 0.5%.


U.S. stocks retreated from highs, weighed by selling pressure in technology and transportations shares after a raft of mixed corporate earnings spooked risk appetite, prompting investors to take profit on the recent rally which has seen U.S. indexes set fresh highs.

The main U.S. indexes made a bold start to the session, hitting record highs before turning negative, as investors had to contend with a raft of mixed economic reports.

Shares of Twitter closed more than 13% lower, after the social media company reported earnings and revenue growth that topped expectations but were offset by timid user growth for the quarter.

Ahead of Twitter’s earnings investors mulled over economic reports showing durable goods orders for June topped expectations, while initial jobless claims rose more than expected.

The U.S. Department of Labor reported Thursday that initial jobless claims rose by more than expected to 244,000 in the week ended July 23, missing forecasts of a 7,000 decline.

In a separate report, core durable goods orders rose by 6.5% in June, the Commerce Department said Thursday, reflecting a sharp jump in orders for transportation equipment.

Meanwhile, a rise in energy failed to lift improvement sentiment, after crude futures settled at eight-weeks highs, on the back rising expectations that rising U.S. crude demand will help offset the glut in global supplies.

Corporate earnings continued to pour in after the closing bell, after Amazon (NASDAQ:NASDAQ:AMZN) beat revenue expectations but missed earnings, reporting a 77% slump in profit.

The Dow Jones Industrial Average closed higher at 21,796.55. The S&P 500 closed 0.63% lower while the Nasdaq Composite closed at 6382.19, down 0.36%.

Gold edged higher in Asia with Japan CPI shrugged off

Investing.com - Gold held an edge in Asia on Friday with Japan prices data showing little impact and the market seen steady until more clarity arrives on U.S. economic policies.

Gold futures for August delivery on the Comex division of the New York Mercantile Exchange rose 0.07% to $1,260.84 a troy ounce. Copper futures on the Comex traded at $2.868 a pound.

In Japan, household spending jumped 2.3 in June month-on-month, compared to a 0.6% rise seen, seen while it rose 1.5% at an annual pace compared to a gain of 0.6% expected. The unemployment rate dipped to 2.8% from 3.1% in May.

Overnight, gold prices traded higher on Thursday, shrugging off a rebound in the dollar, as investors continue to pile into the precious metal amid expectations that the Federal Reserve could keep interest rates low for longer than initially anticipated.

Despite an uptick in the dollar, gold futures continued to advance, adding to gains from the prior session, as investors expected the Federal Reserve to keep rates low for a prolonged period in the wake of central bank’s unchanged rate decision.

As was widely expected, the Federal Reserve stood pat on interest rates Wednesday, keeping its benchmark rate in a target range of 1%-1.25% while expressing concerns about the slowdown in inflation, pushing the dollar to fourteen-month lows.

The dollar recovered, however, after economic reports showed durable goods orders for June topped expectations, offsetting a larger-than-expected rise in initial jobless claims.

The U.S. Department of Labor reported Thursday that initial jobless claims rose by more than expected to 244,000 in the week ended July 23, missing forecasts of a 7,000 decline.

In a separate report, core durable goods orders rose by 6.5% in June, the Commerce Department said Thursday, reflecting a sharp jump in orders for transportation equipment.

Dollar-denominated assets such as gold are sensitive to moves in the dollar – A rise in the dollar makes gold more expensive for holders of foreign currency, and thus, reduces demand.

Crude gains in Asia with US rig count eyed, demand cues

Investing.com - Crude prices held mild gains into Asia on Friday with rig count figures from the U.S. and the ebb further signals on demand expected to be the main drivers of views now swinging back to a market rebalancing supply and demand.

On the New York Mercantile Exchange crude futures for September delivery rose 0.16% to $49.12 a barrel, while on London's Intercontinental Exchange, Brent was last quoted t $51.62 a barrel.

Ahead, the Baker Hughes weekly rig report for U.S. activity will set the tone on supply prospects.

Overnight, crude futures settled higher on Thursday, as investors continue to cheer signs that rising demand will offset excess supplies in the second half of the year amid a larger-than-expected draw in U.S. supplies.

Crude advanced to eight-week highs on Thursday, as investor expectations grew that U.S. crude supplies would continue to drop during the second half of the year, easing the global glut in supply.

The Energy Information Administration (EIA) reported Wednesday, crude and gasoline stockpiles fell by more than expected last week, pointing to an uptick in demand for crude and refinery activity.

Inventories of U.S. crude fell by roughly 7.2m barrels in the week ended July 14, confounding expectations of a draw of about only 2.6m barrels while gasoline inventories, one of the products that crude is refined into, fell by roughly 1m.

Crude prices remained on track to post a weekly gain amid an uptick in sentiment on oil, following news that Saudi Arabia plans to lower crude exports to 6.6 million barrels per day (bpd) in August, almost 1 million bpd below the level last year.

Rising U.S. oil production, however, is expected to limit upside momentum in oil prices, offsetting positive impact of falling U.S. crude stockpiles which has pushed crude prices near the key $50 a barrel level.

Yen gains on solid jobs, household spending data

Investing.com - The yen gained in Japan on Friday with data supporting the currency on consumer prices and unemployment.

USD/JPY changed hands at 111.12, down 0.12%, while AUD/USD traded at 0.7970, down 0.04%.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, rose by 0.51% to 93.73.

In Japan, household spending jumped 2.3 in June month-on-month, compared to a 0.6% rise seen, seen while it rose 1.5% at an annual pace compared to a gain of 0.6% expected. The unemployment rate dipped to 2.8% from 3.1% in May.

Ahead, Japan reports retail sales with a 2.3% increase seen for June on year. National CPI rose 0.4% as expected on year in June and national core CPI gained 0.2%, beating a 0.1% increase seen.

Overnight, the dollar traded higher against a basket of global currencies on Thursday, despite a mixed bag of economic data pointing to potential headwinds in the U.S. labor market.

Better-than-expected durable goods orders data for June offset initial jobless claims data that undershot expectations, pushing the dollar off 14-month lows sustained in the prior session.

The U.S. Department of Labor reported Thursday that initial jobless claims rose by more than expected to 244,000 in the week ended July 23, missing forecasts of a 7,000 decline.

In a separate report, core durable goods orders rose by 6.5% in June, the Commerce Department said Thursday, reflecting a sharp jump in orders for transportation equipment.

The dollar had fallen to 14-month lows in the prior session, following the Federal Reserve’s decision to keep its benchmark rate unchanged amid jitters among Fed members about the slowdown inflation.

The sharp rebound in the dollar weighed on the pound and euro, as both currencies pared recent gains.

GBP/USD fell a day after provisional economic growth data, measured by gross domestic product (GDP), met economists forecast. UK GDP is estimated to have increased by 0.3% in the second-quarter, an improvement from the first-quarter, the Office of National Statistics said Wednesday.

Peru stocks higher at close of trade; S&P Lima General up 0.58%

Investing.com – Peru stocks were higher after the close on Thursday, as gains in the Food&Beverages, Mining and Banking&Financials sectors led shares higher.

At the close in Lima, the S&P Lima General rose 0.58% to hit a new 52-week high.

The best performers of the session on the S&P Lima General were Alicorp (LM:ALI), which rose 3.49% or 0.280 points to trade at 8.300 at the close. Meanwhile, Atacocha (LM:ATB) added 3.38% or 0.009 points to end at 0.275 and Relapasa (LM:REL) was up 2.27% or 0.005 points to 0.225 in late trade.

The worst performers of the session were Luz Del Sur (LM:LUZ), which fell 0.85% or 0.100 points to trade at 11.700 at the close. ENGIE Energia Peru SA (LM:ENGI) declined 0.61% or 0.050 points to end at 8.150 and Sociedad Minera el Brocal SAA (LM:BRO) was down 0.13% or 0.010 points to 7.590.

Rising stocks outnumbered declining ones on the Lima Stock Exchange by 14 to 4 and 7 ended unchanged.

Crude oil for September delivery was up 0.78% or 0.38 to $49.13 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 1.24% or 0.63 to hit $51.60 a barrel, while the August Gold Futures contract rose 0.78% or 9.69 to trade at $1259.09 a troy ounce.

USD/PEN was unchanged 0.00% to 3.2433, while EUR/PEN unchanged 0.00% to 3.7841.

The US Dollar Index Futures was up 0.51% at 93.77.

Brazil stocks higher at close of trade; Bovespa up 0.41%

Investing.com – Brazil stocks were higher after the close on Thursday, as gains in the Consumption, Real Estate and Industrials sectors led shares higher.

At the close in Sao Paulo, the Bovespa added 0.41%.

The best performers of the session on the Bovespa were Natura Cosmeticos SA (SA:NATU3), which rose 6.11% or 1.38 points to trade at 23.97 at the close. Meanwhile, JBS SA (SA:JBSS3) added 5.76% or 0.43 points to end at 7.90 and Cia de Saneamento Basico do Estado (SA:SBSP3) was up 2.74% or 0.94 points to 35.20 in late trade.

The worst performers of the session were Cia Paranaense de Energia (SA:CPLE6), which fell 2.24% or 0.60 points to trade at 26.20 at the close. Centrais Eletricas Brasileiras SA (SA:ELET6) declined 2.14% or 0.36 points to end at 16.43 and CEMIG - Companhia Energetica Minas Gerais Pref (SA:CMIG4) was down 1.86% or 0.16 points to 8.44.

Rising stocks outnumbered declining ones on the Sao Paulo Stock Exchange by 226 to 137 and 42 ended unchanged.

The CBOE Brazil Etf Volatility, which measures the implied volatility of Bovespa options, was up 2.80% to 25.33 a new 52-week low.

Gold Futures for August delivery was up 0.81% or 10.12 to $1259.52 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September rose 0.84% or 0.41 to hit $49.16 a barrel, while the September US coffee C contract rose 0.80% or 1.08 to trade at $135.55 .

USD/BRL was up 0.39% to 3.1509, while EUR/BRL fell 0.10% to 3.6796.

The US Dollar Index Futures was up 0.51% at 93.77.

Mexico stocks lower at close of trade; IPC down 0.67%

Investing.com – Mexico stocks were lower after the close on Thursday, as losses in the Industrials, Telecoms Services and Materials sectors led shares lower.

At the close in Mexico, the IPC fell 0.67%.

The best performers of the session on the IPC were El Puerto De Liverpool Sab De CV (MX:LIVEPOLC1), which rose 4.56% or 7.07 points to trade at 162.11 at the close. Meanwhile, Genomma Lab Internacional SAB De CV (MX:LABB) added 3.51% or 0.810 points to end at 23.900 and Grupo LALA SA de CV (MX:LALAB) was up 2.00% or 0.70 points to 35.70 in late trade.

The worst performers of the session were Alfa, S.A.B. De C.V. (MX:ALFAA), which fell 5.06% or 1.370 points to trade at 25.710 at the close. Nemak SAB de CV (MX:NEMAKA) declined 4.11% or 0.69 points to end at 16.10 and Alsea , S.A.B. De C.V. (MX:ALSEA) was down 2.93% or 2.060 points to 68.210.

Falling stocks outnumbered advancing ones on the Mexico Stock Exchange by 131 to 87 and 7 ended unchanged.

Shares in Nemak SAB de CV (MX:NEMAKA) fell to all time lows; falling 4.11% or 0.69 to 16.10.

Gold Futures for August delivery was up 0.79% or 9.91 to $1259.31 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September rose 0.80% or 0.39 to hit $49.14 a barrel, while the September Brent oil contract rose 1.24% or 0.63 to trade at $51.60 a barrel.

USD/MXN was up 0.76% to 17.7249, while EUR/MXN rose 0.25% to 20.6968.

The US Dollar Index Futures was up 0.51% at 93.77.

U.S. stocks mixed at close of trade; Dow Jones Industrial Average up 0.39%

Investing.com – U.S. stocks were mixed after the close on Thursday, as gains in the Telecoms, Oil&Gas and Consumer Services sectors led shares higher while losses in the Technology, Healthcare and Basic Materials sectors led shares lower.

At the close in NYSE, the Dow Jones Industrial Average gained 0.39% to hit a new all time high, while the S&P 500 index lost 0.10%, and the NASDAQ Composite index declined 0.63%.

The best performers of the session on the Dow Jones Industrial Average were Verizon Communications Inc (NYSE:VZ), which rose 7.68% or 3.41 points to trade at 47.81 at the close. Meanwhile, Boeing Co (NYSE:BA) added 3.23% or 7.55 points to end at 241.00 and Merck&Company Inc (NYSE:MRK) was up 3.06% or 1.89 points to 63.69 in late trade.

The worst performers of the session were Apple Inc (NASDAQ:AAPL), which fell 1.89% or 2.90 points to trade at 150.56 at the close. American Express Company (NYSE:AXP) declined 1.70% or 1.45 points to end at 83.85 and Visa Inc (NYSE:V) was down 1.27% or 1.28 points to 99.57.

The top performers on the S&P 500 were Automatic Data Processing Inc (NASDAQ:ADP) which rose 9.11% to 115.63, Teradata Corporation (NYSE:TDC) which was up 8.51% to settle at 31.88 and Tractor Supply Company (NASDAQ:TSCO) which gained 7.73% to close at 57.53.

The worst performers were CA Inc (NASDAQ:CA) which was down 10.25% to 31.10 in late trade, Johnson Controls International PLC (NYSE:JCI) which lost 7.34% to settle at 40.14 and F5 Networks Inc (NASDAQ:FFIV) which was down 7.16% to 119.02 at the close.

The top performers on the NASDAQ Composite were Capricor Therapeutics Inc (NASDAQ:CAPR) which rose 28.71% to 1.3000, ShoreTel Inc (NASDAQ:SHOR) which was up 28.21% to settle at 7.50 and LivePerson Inc (NASDAQ:LPSN) which gained 18.42% to close at 13.50.

The worst performers were Intellipharmaceutics International (NASDAQ:IPCI) which was down 45.38% to 1.360 in late trade, Neuralstem Inc (NASDAQ:CUR) which lost 29.15% to settle at 1.7500 and Diana Containerships Inc (NASDAQ:DCIX) which was down 29.64% to 0.8300 at the close.

Falling stocks outnumbered advancing ones on the New York Stock Exchange by 1730 to 1353 and 158 ended unchanged; on the Nasdaq Stock Exchange, 1664 fell and 822 advanced, while 139 ended unchanged.

Shares in Automatic Data Processing Inc (NASDAQ:ADP) rose to all time highs; up 9.11% or 9.65 to 115.63. Shares in Boeing Co (NYSE:BA) rose to all time highs; gaining 3.23% or 7.55 to 241.00. Shares in Intellipharmaceutics International (NASDAQ:IPCI) fell to 5-year lows; falling 45.38% or 1.130 to 1.360. Shares in Neuralstem Inc (NASDAQ:CUR) fell to 3-years lows; down 29.15% or 0.7200 to 1.7500. Shares in LivePerson Inc (NASDAQ:LPSN) rose to 52-week highs; rising 18.42% or 2.10 to 13.50.

The CBOE Volatility Index, which measures the implied volatility of S&P 500 options, was up 6.88% to 10.26.

Gold Futures for August delivery was up 0.81% or 10.08 to $1259.48 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September rose 0.78% or 0.38 to hit $49.13 a barrel, while the September Brent oil contract rose 1.24% or 0.63 to trade at $51.60 a barrel.

EUR/USD was down 0.49% to 1.1678, while USD/JPY rose 0.08% to 111.26.

The US Dollar Index Futures was up 0.51% at 93.77.

Colombia stocks higher at close of trade; COLCAP up 0.27%

Investing.com – Colombia stocks were higher after the close on Thursday, as gains in the Investment, Industrials and Financials sectors led shares higher.

At the close in Colombia, the COLCAP added 0.27%.

The best performers of the session on the COLCAP were Pfgrupsura (CN:SIS_p), which rose 1.49% or 600.0 points to trade at 41000.0 at the close. Meanwhile, Grupo de Inversiones Suramericana SA (CN:SIS) added 1.21% or 500.0 points to end at 41800.0 and Grupo Aval Acciones y Valores SA Pref (CN:GAA_p) was up 0.77% or 10.0 points to 1310.0 in late trade.

The worst performers of the session were Canacol Energy Ltd (CN:CNE), which fell 1.48% or 160.0 points to trade at 10620.0 at the close. Cementos Argos Pf (CN:CCB_p) declined 1.12% or 120.0 points to end at 10620.0 and Avianca Holdings Pf (CN:AVT_p) was down 1.11% or 30.0 points to 2680.0.

Rising stocks outnumbered declining ones on the Colombia Stock Exchange by 14 to 9 and 5 ended unchanged.

Shares in Pfgrupsura (CN:SIS_p) rose to 52-week highs; gaining 1.49% or 600.0 to 41000.0. Shares in Grupo de Inversiones Suramericana SA (CN:SIS) rose to 52-week highs; rising 1.21% or 500.0 to 41800.0.

US coffee C for September delivery was up 0.80% or 1.08 to $135.55 . Elsewhere in commodities trading, US cocoa for delivery in September rose 4.59% or 88.00 to hit $2005.50 , while the August Gold Futures contract rose 0.83% or 10.36 to trade at $1259.76 a troy ounce.

USD/COP was down 0.14% to 3013.05, while BRL/COP fell 0.57% to 955.73.

The US Dollar Index Futures was up 0.51% at 93.77.

Gold holds steady despite dollar rebound

Investing.com – Gold prices traded higher on Thursday, shrugging off a rebound in the dollar, as investors continue to pile into the precious metal amid expectations that the Federal Reserve could keep interest rates low for longer than initially anticipated.

Gold futures for August delivery on the Comex division of the New York Mercantile Exchange rose by $9.70, or 0.77%, to $1,258.98.82 a troy ounce.

Despite an uptick in the dollar, gold futures continued to advance, adding to gains from the prior session, as investors expected the Federal Reserve to keep rates low for a prolonged period in the wake of central bank’s unchanged rate decision.

As was widely expected, the Federal Reserve stood pat on interest rates Wednesday, keeping its benchmark rate in a target range of 1%-1.25% while expressing concerns about the slowdown in inflation, pushing the dollar to fourteen-month lows.

The dollar recovered, however, after economic reports showed durable goods orders for June topped expectations, offsetting a larger-than-expected rise in initial jobless claims.

The U.S. Department of Labor reported Thursday that initial jobless claims rose by more than expected to 244,000 in the week ended July 23, missing forecasts of a 7,000 decline.

In a separate report, core durable goods orders rose by 6.5% in June, the Commerce Department said Thursday, reflecting a sharp jump in orders for transportation equipment.

Dollar-denominated assets such as gold are sensitive to moves in the dollar – A rise in the dollar makes gold more expensive for holders of foreign currency, and thus, reduces demand.

Other precious metals also shrugged off a rise in the dollar, as silver futures added 0.69% to $16.571 while platinum futures rose by 0.66% to $928.95.

Copper traded at $2.868, down 0.14%, while natural gas, advanced 1.99% to $2.971.

Portugal stocks lower at close of trade; PSI 20 down 0.36%

Investing.com – Portugal stocks were lower after the close on Thursday, as losses in the Consumer Services, Consumer Goods and Industrials sectors led shares lower.

At the close in Lisbon, the PSI 20 lost 0.36%.

The best performers of the session on the PSI 20 were Pharol SGPS SA (LS:PHRA), which rose 2.77% or 0.0090 points to trade at 0.3340 at the close. Meanwhile, The Navigator Company SA (LS:NVGR) added 1.52% or 0.0560 points to end at 3.7300 and Banco Comercial Portugues (LS:BCP) was up 0.96% or 0.0024 points to 0.2529 in late trade.

The worst performers of the session were J. Martins SGPS (LS:JMT), which fell 4.32% or 0.7500 points to trade at 16.6200 at the close. Corticeira Amorim (LS:CORA) declined 2.08% or 0.250 points to end at 11.750 and Sonae Capital (LS:SONAC) was down 1.64% or 0.0140 points to 0.8420.

Falling stocks outnumbered advancing ones on the Lisbon Stock Exchange by 18 to 13 and 8 ended unchanged.

Brent oil for September delivery was up 0.92% or 0.47 to $51.44 a barrel. Elsewhere in commodities trading, Crude oil for delivery in September rose 0.55% or 0.27 to hit $49.02 a barrel, while the August Gold Futures contract rose 0.76% or 9.53 to trade at $1258.93 a troy ounce.

EUR/USD was down 0.61% to 1.1663, while EUR/GBP fell 0.22% to 0.8925.

The US Dollar Index Futures was up 0.59% at 93.84.

Russia stocks higher at close of trade; MICEX up 0.62%

Investing.com – Russia stocks were higher after the close on Thursday, as gains in the Telecoms, Mining and Power sectors led shares higher.

At the close in Moscow, the MICEX added 0.62%.

The best performers of the session on the MICEX were FSK EES (MCX:FEES), which rose 2.81% or 0.0047 points to trade at 0.1719 at the close. Meanwhile, Sberbank Rossii PAO (MCX:SBER) added 2.75% or 4.45 points to end at 166.00 and MMC Norilsk Nickel (MCX:GMKN) was up 2.53% or 219.0 points to 8865.0 in late trade.

The worst performers of the session were MVideo (MCX:MVID), which fell 5.70% or 24.60 points to trade at 407.10 at the close. NLMK ao (MCX:NLMK) declined 1.34% or 1.70 points to end at 125.30 and MMK (MCX:MAGN) was down 1.19% or 0.410 points to 33.920.

Falling stocks outnumbered advancing ones on the Moscow Stock Exchange by 107 to 106 and 22 ended unchanged.

The Russian VIX, which measures the implied volatility of MICEX options, was down 0.71% to 19.590.

Gold Futures for August delivery was up 0.62% or 7.78 to $1257.18 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September rose 0.80% or 0.39 to hit $49.14 a barrel, while the September Brent oil contract rose 1.14% or 0.58 to trade at $51.55 a barrel.

USD/RUB was up 0.12% to 59.4767, while EUR/RUB fell 0.47% to 69.2675.

The US Dollar Index Futures was up 0.66% at 93.91.

Netherlands stocks higher at close of trade; AEX up 0.50%

Investing.com – Netherlands stocks were higher after the close on Thursday, as gains in the Telecoms, Consumer Services and Basic Materials sectors led shares higher.

At the close in Amsterdam, the AEX gained 0.50% to hit a new 1-month high.

The best performers of the session on the AEX were Aalberts Industries NV (AS:AALB), which rose 2.65% or 0.95 points to trade at 37.01 at the close. Meanwhile, Koninklijke KPN NV (AS:KPN) added 2.21% or 0.068 points to end at 3.140 and Relx NV (AS:RELN) was up 1.72% or 0.305 points to 17.995 in late trade.

The worst performers of the session were Koninklijke DSM NV (AS:DSMN), which fell 0.76% or 0.48 points to trade at 62.50 at the close. Koninklijke Vopak NV (AS:VOPA) declined 0.71% or 0.29 points to end at 40.74 and Galapagos NV (AS:GLPG) was down 0.69% or 0.490 points to 70.110.

Rising stocks outnumbered declining ones on the Amsterdam Stock Exchange by 82 to 47 and 12 ended unchanged.

Shares in Aalberts Industries NV (AS:AALB) rose to all time highs; gaining 2.65% or 0.95 to 37.01. Shares in Koninklijke KPN NV (AS:KPN) rose to 52-week highs; rising 2.21% or 0.068 to 3.140.

The AEX Volatility, which measures the implied volatility of AEX options, was down 3.46% to 10.90.

Crude oil for September delivery was up 0.80% or 0.39 to $49.14 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 1.14% or 0.58 to hit $51.55 a barrel, while the August Gold Futures contract rose 0.63% or 7.83 to trade at $1257.23 a troy ounce.

EUR/USD was down 0.67% to 1.1656, while EUR/GBP fell 0.21% to 0.8926.

The US Dollar Index Futures was up 0.66% at 93.91.

Spain stocks higher at close of trade; IBEX 35 up 0.26%

Investing.com – Spain stocks were higher after the close on Thursday, as gains in the Telecoms&IT, Financial Services&Real Estate and Consumer Goods sectors led shares higher.

At the close in Madrid, the IBEX 35 rose 0.26%.

The best performers of the session on the IBEX 35 were Telefonica (MC:TEF), which rose 3.48% or 0.329 points to trade at 9.790 at the close. Meanwhile, B. Sabadell (MC:SABE) added 1.83% or 0.035 points to end at 1.943 and ArcelorMittal SA (MC:MTS) was up 1.52% or 0.335 points to 22.390 in late trade.

The worst performers of the session were Siemens Gamesa Renewable Energy SA (MC:GAM), which fell 17.33% or 3.040 points to trade at 14.505 at the close. Tecnicas Reunidas (MC:TRE) declined 1.33% or 0.450 points to end at 33.385 and Mediaset ESP (MC:TL5) was down 1.28% or 0.135 points to 10.430.

Rising stocks outnumbered declining ones on the Madrid Stock Exchange by 94 to 85 and 12 ended unchanged.

Shares in Siemens Gamesa Renewable Energy SA (MC:GAM) fell to 52-week lows; down 17.33% or 3.040 to 14.505. Shares in B. Sabadell (MC:SABE) rose to 52-week highs; rising 1.83% or 0.035 to 1.943.

Gold Futures for August delivery was up 0.62% or 7.72 to $1257.12 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September rose 0.80% or 0.39 to hit $49.14 a barrel, while the September Brent oil contract rose 1.14% or 0.58 to trade at $51.55 a barrel.

EUR/USD was down 0.67% to 1.1656, while EUR/GBP fell 0.21% to 0.8926.

The US Dollar Index Futures was up 0.66% at 93.91.

Finland stocks higher at close of trade; OMX Helsinki 25 up 0.34%

Investing.com – Finland stocks were higher after the close on Thursday, as gains in the Technology, Consumer Goods and Telecoms sectors led shares higher.

At the close in Helsinki, the OMX Helsinki 25 added 0.34%.

The best performers of the session on the OMX Helsinki 25 were Amer Sports Corporation (HE:AMEAS), which rose 7.16% or 1.58 points to trade at 23.64 at the close. Meanwhile, Outokumpu Oyj (HE:OUT1V) added 3.75% or 0.2600 points to end at 7.1900 and Nokia Oyj (HE:NOKIA) was up 3.10% or 0.165 points to 5.485 in late trade.

The worst performers of the session were Outotec Oyj (HE:OTE1V), which fell 11.27% or 0.675 points to trade at 5.315 at the close. Valmt (HE:VALMT) declined 6.39% or 1.14 points to end at 16.69 and Konecranes ABP (HE:KCRA) was down 3.06% or 1.19 points to 37.76.

Rising stocks outnumbered declining ones on the Helsinki Stock Exchange by 80 to 55 and 16 ended unchanged.

Brent oil for September delivery was up 1.20% or 0.61 to $51.58 a barrel. Elsewhere in commodities trading, Crude oil for delivery in September rose 0.90% or 0.44 to hit $49.19 a barrel, while the August Gold Futures contract rose 0.60% or 7.44 to trade at $1256.84 a troy ounce.

EUR/USD was down 0.68% to 1.1655, while EUR/GBP fell 0.23% to 0.8924.

The US Dollar Index Futures was up 0.66% at 93.91.

Germany stocks mixed at close of trade; DAX down 0.76%

Investing.com – Germany stocks were mixed after the close on Thursday, as gains in the Food&Beverages, Insurance and Retail sectors led shares higher while losses in the Chemicals, Industrials and Construction sectors led shares lower.

At the close in Frankfurt, the DAX lost 0.76%, while the MDAX index fell 0.27%, and the TecDAX index gained 0.22%.

The best performers of the session on the DAX were Vonovia SE (DE:VNAn), which rose 1.49% or 0.52 points to trade at 35.01 at the close. Meanwhile, Allianz SE VNA O.N. (DE:ALVG) added 1.36% or 2.45 points to end at 182.05 and Continental AG O.N. (DE:CONG) was up 0.95% or 1.85 points to 196.60 in late trade.

The worst performers of the session were Deutsche Bank AG NA O.N. (DE:DBKGn), which fell 6.48% or 1.075 points to trade at 15.525 at the close. Deutsche Boerse AG (DE:DB1Gn) declined 3.75% or 3.480 points to end at 89.250 and Bayer AG NA (DE:BAYGN) was down 2.95% or 3.30 points to 108.45.

The top performers on the MDAX were Leoni AG (DE:LEOGn) which rose 3.63% to 51.710, Fielmann AG (DE:FIEG) which was up 1.88% to settle at 68.370 and LEG Immobilien AG (DE:LEGn) which gained 1.56% to close at 82.790.

The worst performers were Airbus Group SE (F:AIRG) which was down 2.86% to 72.154 in late trade, GEA Group AG (DE:G1AG) which lost 1.90% to settle at 35.180 and Osram Licht AG (F:OSRn) which was down 1.79% to 68.943 at the close.

The top performers on the TecDAX were Sartorius AG VZO O.N. (DE:SATG_p) which rose 2.36% to 81.890, Siltronic AG (DE:WAFGn) which was up 2.27% to settle at 88.660 and Wirecard AG (DE:WDIG) which gained 2.05% to close at 64.800.

The worst performers were Dialog Semiconductor (DE:DLGS) which was down 5.22% to 37.030 in late trade, Nordex SE O.N. (DE:NDXG) which lost 3.80% to settle at 11.890 and Aixtron SE (DE:AIXGn) which was down 1.99% to 7.799 at the close.

Falling stocks outnumbered advancing ones on the Frankfurt Stock Exchange by 394 to 373 and 19 ended unchanged.

Shares in Siltronic AG (DE:WAFGn) rose to all time highs; rising 2.27% or 1.970 to 88.660.

The DAX volatility index, which measures the implied volatility of DAX options, was down 0.01% to 13.39.

Gold Futures for August delivery was up 0.62% or 7.72 to $1257.12 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September rose 0.70% or 0.34 to hit $49.09 a barrel, while the September Brent oil contract rose 1.00% or 0.51 to trade at $51.48 a barrel.

EUR/USD was down 0.67% to 1.1656, while EUR/GBP fell 0.23% to 0.8924.

The US Dollar Index Futures was up 0.66% at 93.91.

Norway stocks lower at close of trade; Oslo OBX down 0.03%

Investing.com – Norway stocks were lower after the close on Thursday, as losses in the Pharma Biotech&Life Sciences, Telecoms and Utilities sectors led shares lower.

At the close in Oslo, the Oslo OBX lost 0.03%.

The best performers of the session on the Oslo OBX were Statoil ASA (OL:STL), which rose 1.75% or 2.5 points to trade at 145.0 at the close. Meanwhile, Aker BP ASA (OL:AKERBP) added 1.52% or 2.20 points to end at 147.00 and DNO International ASA (OL:DNO) was up 1.12% or 0.10 points to 8.99 in late trade.

The worst performers of the session were Petroleum Geo - Services ASA (OL:PGS), which fell 5.86% or 1.06 points to trade at 17.03 at the close. BW LPG Ltd (OL:BWLPG) declined 2.69% or 0.95 points to end at 34.33 and Nordic Nanovector ASA (OL:NANOV) was down 1.96% or 1.60 points to 79.90.

Falling stocks outnumbered advancing ones on the Oslo Stock Exchange by 86 to 85 and 33 ended unchanged.

Crude oil for September delivery was up 0.74% or 0.36 to $49.11 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 1.00% or 0.51 to hit $51.48 a barrel, while the August Gold Futures contract rose 0.68% or 8.47 to trade at $1257.87 a troy ounce.

EUR/NOK was up 0.16% to 9.2762, while USD/NOK rose 0.78% to 7.9543.

The US Dollar Index Futures was up 0.61% at 93.86.

Sweden stocks lower at close of trade; OMX Stockholm 30 down 0.62%

Investing.com – Sweden stocks were lower after the close on Thursday, as losses in the Healthcare, Industrials and Oil&Gas sectors led shares lower.

At the close in Stockholm, the OMX Stockholm 30 lost 0.62%.

The best performers of the session on the OMX Stockholm 30 were Fingerprint Cards AB ser. B (ST:FINGb), which rose 4.31% or 1.50 points to trade at 36.29 at the close. Meanwhile, Skandinaviska Enskilda Banken AB A (ST:SEBa) added 0.97% or 1.00 points to end at 104.30 and ASSA ABLOY AB ser. B (ST:ASSAb) was up 0.74% or 1.3 points to 176.5 in late trade.

The worst performers of the session were AstraZeneca PLC (ST:AZN), which fell 15.07% or 83.7 points to trade at 471.8 at the close. Atlas Copco AB ser. A (ST:ATCOa) declined 2.10% or 6.4 points to end at 298.4 and Atlas Copco AB ser. B (ST:ATCOb) was down 1.80% or 4.9 points to 267.5.

Rising stocks outnumbered declining ones on the Stockholm Stock Exchange by 410 to 296 and 84 ended unchanged.

Crude oil for September delivery was up 0.64% or 0.31 to $49.06 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 0.94% or 0.48 to hit $51.45 a barrel, while the August Gold Futures contract rose 0.67% or 8.36 to trade at $1257.76 a troy ounce.

EUR/SEK was up 0.08% to 9.5955, while USD/SEK rose 0.70% to 8.2286.

The US Dollar Index Futures was up 0.61% at 93.86.

Greece stocks lower at close of trade; Athens General Composite down 1.31%

Investing.com – Greece stocks were lower after the close on Thursday, as losses in the Utilities, Banking and Financials sectors led shares lower.

At the close in Athens, the Athens General Composite declined 1.31% to hit a new 1-month low.

The best performers of the session on the Athens General Composite were Korres (AT:KRRr), which rose 8.11% or 0.330 points to trade at 4.400 at the close. Meanwhile, Select Textile (AT:EPIr) added 7.72% or 0.020 points to end at 0.279 and Halcor (AT:XAKO) was up 2.11% or 0.016 points to 0.776 in late trade.

The worst performers of the session were Flexopack SA (AT:FLXr), which fell 8.62% or 0.4300 points to trade at 4.5600 at the close. Piraeus Bank SA (AT:BOPr) declined 5.31% or 0.013 points to end at 0.232 and Public Power (AT:DEHr) was down 4.93% or 0.11 points to 2.12.

Falling stocks outnumbered advancing ones on the Athens Stock Exchange by 69 to 36 and 11 ended unchanged.

Shares in Public Power (AT:DEHr) fell to 3-years lows; losing 4.93% or 0.11 to 2.12.

Gold Futures for August delivery was up 0.81% or 10.16 to $1259.56 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September rose 0.12% or 0.06 to hit $48.81 a barrel, while the September Brent oil contract rose 0.47% or 0.24 to trade at $51.21 a barrel.

EUR/USD was down 0.49% to 1.1677, while EUR/GBP fell 0.28% to 0.8920.

The US Dollar Index Futures was up 0.49% at 93.75.

Dollar index continues to climb off multi-month lows

Investing.com - The dollar continued to rise against the other major currencies on Thursday, although gains were expected to remain capped by mostly negative U.S. data and the Federal Reserve’s most recent policy statement.

The U.S. Department of Labor said initial jobless claims in the week ending July 22 rose by 10,000 to 244,000 from the previous week’s revised total of 234,000. Analysts expected jobless claims to rise by 7,000 to 241,000 last week.

Separately, the Commerce Department said durable goods orders jumped by 6.5% last month, blowing past forecasts for a rise of 3.0%.

However, core durable goods orders, which exclude volatile transportation items, increased by 0.2% in June, missing expectations for a gain of 0.4%.

The dollar weakened broadly after the Fed said on Wednesday that inflation remains below its 2% target even as near-term risks to the economic outlook appear “roughly balanced.” In the past, the Fed judged that weakness in inflation was transitory.

The central bank’s cautious tone on inflation sparked fresh uncertainty over the possibility of a third rate hike this year.

The Fed also said it expected to start shrinking its balance sheet "relatively soon", prompting expectations for an announcement in September.

EUR/USD dropped 0.41% to 1.1683, pulling away from a two-and-a-half year high of 1.1777 hit overnight.

Elsewhere, GBP/USD slipped 0.14% to 1.3098.

USD/JPY rose 0.29% to 111.50, while USD/CHF jumped 1.25% to trade at 0.9626.

The Australian and New Zealand dollars turned lower, pulling away from 26-month highs, with AUD/USD down 0.25% at 0.7985 and with NZD/USD shedding 0.19% to 0.7505.

Meanwhile, USD/CAD gained 0.32% to trade at 1.2485, easing off the previous session’s 14-month trough of 1.2415.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.51% at 93.77, off a fresh 13-month low of 93.00 hit overnight.

Wall St higher after Fed, earnings flow

Investing.com - U.S. stocks added to record highs Thursday after the earnings season continued apace and the Fed held on policy.
The DJI was up 0.27% at 10:00 ET. The S&P 500 added 0.06%.
The tech-heavy Nasdaq composite was up 0.43%.
The dollar recovered from 13-month lows as the FOMC statement was deemed dovish.
Initial weekly jobless claims rose more than expected. Claims were up 10,000 at 244,000.
Durable goods orders were up 6.5% in June from May, beating a forecast rise of 3.0%.
Core orders came in at a rise of 0.2%, below a forecast increase of 0.4%.
(NASDAQ:Facebook) was up 5.52% after second-quarter results reported Wednesday surprised on the upside.
(NYSE:Twitter) was off 12.83% despite earnings beating estimates as user growth in the second quarter disappointed.
(NYSE:Verizon) was up 5.88% as quarterly revenues topped estimates after adding subscribers.

USD/CAD edges up off 14-month trough as oil prices slip

Investing.com - The U.S. dollar moved higher against its Canadian counterpart on Thursday, easing off a 14-month trough as the recent rally in oil prices paused, but weak U.S. data and the Federal Reserve’s latest comments on inflation were expected to limit the greenback’s gains.

USD/CAD hit 1.2495 during early U.S. trade, the session high; the pair subsequently consolidated at 1.2485, gaining 0.31%.

The pair was likely to find support at 1.2412, Wednesday’s low and a 14-month trough and resistance at 1.2544, Wednesday’s high.

The commodity-related Canadian dollar lost some ground due to a drop in oil prices on Thursday, after the commodity hit eight-week highs overnight following news of a fourth consecutive week of declines in U.S. crude inventories.

In the U.S., the Department of Labor said initial jobless claims in the week ending July 22 rose by 10,000 to 244,000 from the previous week’s revised total of 234,000. Analysts expected jobless claims to rise by 7,000 to 241,000 last week.

Separately, the Commerce Department said durable goods orders jumped by 6.5% last month, blowing past forecasts for a rise of 3.0%.

However, core durable goods orders, which exclude volatile transportation items, increased by 0.2% in June, missing expectations for a gain of 0.4%.

The dollar weakened broadly after the Fed said on Wednesday that inflation remains below its 2% target even as near-term risks to the economic outlook appear “roughly balanced.” In the past, the Fed judged that weakness in inflation was transitory.

The central bank’s cautious tone on inflation sparked fresh uncertainty over the possibility of a third rate hike this year.

The Fed also said it expected to start shrinking its balance sheet "relatively soon", prompting expectations for an announcement in September.

The loonie was steady against the euro, with EUR/CAD at 1.4603.

Gold at highest level since June as markets bet on patient Fed

Investing.com - Gold prices rose to the highest level since mid-June in North American trade on Thursday, as a softening in the Federal Reserve's confidence on inflation added to expectations that policy tightening would be glacial at best.

Comex gold futures were at $1,263.99 a troy ounce by 9:00AM ET (1300GMT), up $14.30, or about 1.2%. It touched its highest since June 15 at $1,265.14 earlier in the session.

Gold prices fell for a third-straight session on Wednesday, before turning higher in post-settlement trade as the U.S. dollar weakened in the wake of the Fed’s dovish policy statement.

While the Fed said it expected to start shrinking its massive holdings of bonds "relatively soon", the central bank also noted weakness in U.S. inflation more explicitly than before.

The recognition of soft inflation added to expectations that the Fed's plan to raise interest rates a third time this year might be delayed.

According to Investing.com’s Fed Rate Monitor Tool, conviction for another rate hike before the end of the year has faded, with less than 40% of market players expecting another move by December.

The precious metal is sensitive to moves in U.S. rates, which lift the opportunity cost of holding non-yielding assets such as bullion.

Data released earlier did little to sway the Fed's view on monetary policy.

New orders for key U.S.-made capital goods unexpectedly fell in June, but a fifth straight monthly increase in shipments suggested that business spending on equipment supported economic growth in the second quarter.

A separate report showed that the number of Americans filing for unemployment benefits rebounded from a three-month low last week, but remained below a level consistent with a tightening labor market.

Meanwhile, focus will continue to be on headlines coming out of Washington, where the Senate is expected to continue working to repeal Obamacare.

Elsewhere on the Comex, silver futures rallied 30.9 cents, or roughly 1.9%, to $16.76 a troy ounce. It climbed to $16.79 earlier, a level not seen since June 29.

Meanwhile, copper futures held near their highest level in more than two years amid talk China may ban imports of some scrap metal from the end of 2018.

That could lead to higher refined copper imports into the world's largest consumer of the metal.

Dollar index bounces off 13-month lows but gains seen limited

Investing.com - The dollar bounced off 13-month lows against the other major currencies on Thursday, but gains were expected to remain capped after the release of mostly negative U.S. data and the Federal Reserve’s most recent policy statement.

The U.S. Department of Labor said initial jobless claims in the week ending July 22 rose by 10,000 to 244,000 from the previous week’s revised total of 234,000. Analysts expected jobless claims to rise by 7,000 to 241,000 last week.

Separately, the Commerce Department said durable goods orders jumped by 6.5% last month, blowing past forecasts for a rise of 3.0%.

However, core durable goods orders, which exclude volatile transportation items, increased by 0.2% in June, missing expectations for a gain of 0.4%.

The dollar weakened broadly after the Fed said on Wednesday that inflation remains below its 2% target even as near-term risks to the economic outlook appear “roughly balanced.” In the past, the Fed judged that weakness in inflation was transitory.

The central bank’s cautious tone on inflation sparked fresh uncertainty over the possibility of a third rate hike this year.

The Fed also said it expected to start shrinking its balance sheet "relatively soon", prompting expectations for an announcement in September.

EUR/USD slipped 0.26% to 1.1702, pulling away from a two-and-a-half year high of 1.1777 hit overnight.

Elsewhere, GBP/USD rose 0.24% to 1.3151.

USD/JPY added 0.19% to 111.37, while USD/CHF jumped 1.01% to trade at 0.9604.

The Australian and New Zealand dollars were steady, just off recent 26-month highs, with AUD/USD at 0.8001 and with NZD/USD at 0.7520.

Meanwhile, USD/CAD gained 0.27% to trade at 1.2478, easing off the previous session’s 14-month trough of 1.2415.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.26% at 93.52, just off a fresh 13-month low of 93.00 hit overnight.

CFDs and FX are leveraged products. Trading CFDs carries a high level of risk since leverage can work both to your advantage and disadvantage. As a result, CFDs may not be suitable for all investors because you may lose all your invested capital. Please refer to the full Risk Disclaimer.