Minute for Friday market
- Global stocks mixed on the last trading day of the month, as Asia was held back by fears of recovery, and Europe and the United States rose with large gains in technology.
- Apple, Amazon, Facebook and Google beat Wall Street’s forecast, with revenue rising to $ 205.2 billion.
- However, continuing growth fears in the United States are pushing the dollar to a fresh two-year low and gold to a fresh all-time high in overnight trading.
- Coronavirus cases in the United States rose by more than 68,000 on Thursday to a total of 4.6 million.
- Global oil prices are recovering thanks to the weaker US dollar, but demand worries are holding up to $ 40 a barrel.
- U.S. stock futures suggest greater openness on Wall Street before gains from Merck, ExxonMobil, Chevron and Colgate before trading and inflation and personal consumption data began at 8:30 a.m. Eastern Time.
Wall Street futures extended their gains on Friday, driven by gains on major US technology stocks after gains from blockbusters after trading yesterday, but concerns about the fate of the global economic recovery and rising coronavirus infection continue to cloud the mood.
Apple Inc. (AAPL) ̵
Apple’s plans to split its shares, which are trading north of $ 400 each, could hold back Dow’s profits, given the technology giant’s impact on the weighted average price.
Amazon Inc. (AMZN) – Get a reportwill also provide a big boost for both the S&P 500 and the Nasdaq, with shares up 5.4% ahead of the market after the online retailer posted record quarterly sales earnings of nearly $ 90 billion.
However, Thursday’s grim second-quarter GDP reading, which showed an annual contraction of 32.9% – the steepest since the beginning of the record – as well as an improvement in weekly unemployment claims, were powerful reminders to investors that any recovery in domestic market will be predicted by taming the spread of the carnavirus, which has infected 4.6 million Americans and killed at least 154,000 people.
In fact, these concerns are expressed much more dramatically in the value of the US dollar than in stocks, with the greenback falling to a fresh two-year low against a basket from its world counterparts in night trading, assuming its July decline to about 5%, the most many in ten years.
Gold prices also had their best month in nearly five years, rising nearly 11 percent since the end of June to a fresh record high of $ 1,974.00 an ounce in overnight trading, as in The United Kingdom has introduced new orders to block the coronavirus, Japan has threatened to impose new restrictions on movement and business in Tokyo amid a new outbreak in the capital.
Meanwhile, the shares are set for mixed profits from the opening of bells on Friday, despite the influence of the power plant from Amazon, Apple, Facebook (full board) – Get a report and Google (GOOGL) – Get a report, with futures contracts tied to the Dow, offering an advance of 55 points, and those related to the S&P 500, which is 4.7% for the month, showing a stronger jump of 15 points.
Meanwhile, Nasdaq Composite futures are aiming for a 180-point opening of the bell, which could bring the technology-focused index to a fresh high for all time.
European stocks also posted solid early gains, with the Stoxx 600 gaining 0.72% in early trading, a rate of 0.8% gains for the DAX performance index in Germany and a 0.6% gain for the FTSE 100 in London.
However, the euro is moving towards its best month against the dollar in a decade, after reaching the level of 1.19 in overnight trading for the first time since May 2018, with the pound rising to a maximum of four and a half months from 1.3134 against falling greenery.
The weakness of the dollar helped global oil prices rise on Friday, despite fears of demand related to the resumption of COVID-19 and mixed industrial data from China.
WTI supply contracts in September, the US base, 30 cents higher than Thursday, closed in New York and exchanged $ 40.22 per barrel at the beginning of European transactions, while Brent contracts for September, the global indicator, were observed 30 cents higher at $ 43.08 a barrel.
Overnight in Asia, the Japanese Nikkei 225 fell 2.82% in the session to push the index into negative territory for the month, led by last night’s Wall Street declines and the stronger yen, while MSCI former Japanese index MSCI, the regional index the broadest measure for stock prices slipped 0.31% in the last trading hours.