Asia Markets Up, Europe Opens Higher, Crude Advances 2.6% - Global Markets Today While US Slept

On Tuesday, July 30th, U.S. stock markets closed mixed, with the S&P 500 and Nasdaq closed lower on Tuesday due to weak chip and major tech stocks ahead of key earnings, while the Dow posted modest gains.

Microsoft MFST fell 0.89% before releasing its quarterly results and dropped about 5% post-market as Azure’s growth missed expectations.

Nvidia NVDA, a key AI growth beneficiary and the year’s second-best S&P 500 performer, fell 7%, dragging other chip stocks down.

According to economic data, job openings fell to 8.184 million in June from a revised 8.23 million in May. The S&P CoreLogic Case-Shiller 20-city home price index increased 6.8% year-over-year in May, down from a revised 7.3% in April.

Most S&P 500 sectors rose on Tuesday, led by energy, financials, and real estate, while consumer staples and information technology declined.

The Dow Jones Industrial Average was up 0.50% and closed at 40,743.33. The S&P 500 declined 0.50%, ending the day at 5,436.44, and the Nasdaq Composite fell 1.28%, finishing the session at 17,147.42.

Asian Markets Today

• On Wednesday, Japan’s Nikkei 225 closed higher by 1.59%, ending the session at 39,123.00, led by losses in the Pharmaceutical Industry, Warehousing, and Fishery sectors.
• The Tokyo Stock Exchange banking index surged, aiding the Nikkei’s gain. Semiconductor stocks rallied strongly, while the yen strengthened after BOJ Governor Ueda signaled a potential further rate hike.
• Australia’s S&P/ASX 200 gained 1.75%, ending the day at 8,092.30, led by gains in the IT, Energy, and Resources sectors.
• Australian CPI inflation rose 3.8% year-on-year in Q2, as expected, while core inflation fell to 3.9%. This reduced expectations of further RBA rate hikes.
• India’s Nifty 50 rose 0.49% to 24,978.95, and Nifty 500 was up 0.46%, closing at 23,549.20.
• China’s Shanghai Composite was up 2.06%, ending the session at 2,938.75, and the Shenzhen CSI gained 2.16%, closing at 3,442.08.
• Hong Kong’s Hang Seng ended the session higher by 2.01% at 17,344.60.

Eurozone at 06:15 AM ET

• The European STOXX 50 index gained 1.03%.
• Germany’s DAX rose 0.40%.
• France’s CAC was up 1.22%.
• U.K.’s FTSE 100 traded higher by 1.43%.

Commodities at 06:15 AM ET

• Crude Oil WTI was trading higher by 2.60% at $76.67/bbl, and Brent was up 2.31% at $79.88 bbl.
• Oil futures rebounded more than a dollar per barrel on Wednesday following the assassination of a Hamas leader in Iran, which heightened Middle East tensions. However, concerns about weak Chinese demand continue to weigh on prices.
• Natural Gas declined 0.42% to $2.117.
• Gold was trading higher by 0.62% at $2,467.05, Silver rose 0.63% to $28.765, and Copper gained 1.48% to $4.1450.

US Futures at 06:15 AM ET

Dow futures were up 0.35%, S&P 500 futures gained 0.97%, and Nasdaq 100 Futures rose 1.47%.

Forex at 06:15 AM ET

• The U.S. Dollar Index declined 0.41% to 104.11, USD/JPY was down 1.63% at 150.27, and USD/AUD rose 0.63% to 1.5392.
• The U.S. dollar fell Wednesday ahead of the Fed’s rate decision, while the yen surged after the Bank of Japan tightened monetary policy.

Photo by Pavel Bobrovskiy via Shutterstock