Delta-led new crown mutation virus in the global rampage, the S&P Case Shiller National Home Price Index in April recorded the fastest year-on-year growth rate in 33 years, U.S. inflation worries do not diminish; but the U.S. June Advisory Chamber of Commerce consumer confidence index rose more than expected to the highest level in more than a year since the outbreak last year, consumers are more confident in the economy; Richmond Fed President Barkin said the U.S. job market is not close to the outbreak Richmond Fed President Barkin said the U.S. job market is not close to the level before the outbreak, before slowing down the pace of QE bond purchases, he hopes to see much more progress.
In the face of inflation and the threat of mutating viruses, most sectors of U.S. stocks fell, the energy and financial sectors continued to sink, and Facebook, which led the leading technology stocks to rise on Monday, also fell back, with Apple, chip stocks and other parts of the technology stocks and health care sector further up, the S&P 500 barely closed flat, did not fall to record highs, the Nasdaq continued to record highs.
Among individual stocks, Moderna, which fell slightly at the beginning of the session, opened lower and higher, once up nearly 7% during the day, with shares rising above $238 for the first time. The division announced tests showing that the vaccine it developed could produce antibodies against a variety of new crown variant viruses, including Delta variant strains. Some big U.S. bank stocks that announced plans to give back to shareholders after the bell on Monday because of the Fed’s unbundling rose, with Morgan Stanley, which plans to double its dividend and buy back $12 billion in a year, up nearly 4.5 percent intraday, and Goldman Sachs, which had risen more than 2 percent.
Among Chinese stocks, Daily Fresh, a leading fresh food e-commerce company that went public on Friday, continued to fall, while its peer Dingdong Buyer opened up 19% on its first day of trading, turned down and broke during the session, and eventually closed slightly higher.
The spread of the mutated strain of Delta threatened the prospects for global economic recovery, with the dollar index climbing significantly to a one-week high; the 10-year U.S. bond yield had also rallied to set a new daily high during the European stock market, before falling back close to flat. Despite the dollar’s upside, cryptocurrencies stayed on the upside after the U.K. banned the largest cryptocurrency exchange Coin from operating in the U.K. Bitcoin rose above $36,000 intraday, with some analysts viewing the U.K.’s increased regulation as a positive sign that the cryptocurrency market is maturing; in addition, “bull queen” Cathie Wood’s ARK Fund applied to set up the first bitcoin ETF, which may have also boosted sentiment.
In commodities, precious metals fell under the pressure of a stronger dollar, with gold falling to its lowest trough in two and a half months; crude oil rebounded slightly under pressure, and investors are concerned about the spread of the Delta virus, waiting to see if the OPEC+ meeting this Thursday decides to further reduce the scale of production cuts, with new media reports saying that the OPEC+ expert advisors’ Joint Production Cut Monitoring Committee (JMMC) are divided and have not given a unanimous recommendation. The natural gas hit a three-and-a-half-year high amid record high temperatures in the western U.S.; industrial metals were mostly higher, with Lunar aluminum hitting a new high of more than three years, but Lunar copper continued to retreat, commenting that Lunar copper was hit by the dollar’s upside and recently lacked major upside momentum; higher aluminum prices stemmed in part from supply concerns in Russia, which recently planned to impose taxes on exports of steel products, nickel, aluminum and copper.
In the European market, the June Eurozone economic sentiment index hit a 21-year high, reflecting the steady vaccination of a number of economies to resume work after the positive situation; June Germany CPI growth rate of preliminary value lower than May, inflationary pressure is suspended, reflationary transactions heat up, industrial, automotive, banking and mining stocks rose, pan-European stock index rebound, supported by Adidas and auto stocks rose German stock index in the countries led the rise. Along with the rebound in European stocks, European bond prices retreated.
The Nasdaq hit back-to-back record highs, the S&P Dow closed roughly flat with only three sectors, including IT, closing higher Moderna rose more than 5%, and Dingdong Buyer’s first day of trading surged higher and retreated
The three major U.S. stock indexes opened collectively higher, with mixed performance during the session. The S&P 500 index rose above 4300 points in early trading when it hit a new intraday high for the fourth consecutive day, up more than 0.2% during the day, and the Dow Jones Industrial Average rose nearly 190 points when it set a new daily high in early trading, and the S&P both gave back most of its gains at lunchtime, once turning lower. The Nasdaq Composite Index turned down at the beginning of the session, although it quickly rebounded, but more than once during the session turned down, until after the midday session turned up to stabilize the upward trend, keeping up, up more than 0.24% at midday for the second consecutive day when it hit a new intraday high.
In the end, the three major indices did not close lower, the S&P and the Nasdaq closed higher for the fourth consecutive day and two days, respectively, with the Dow rebounding slightly. The S&P closed up 0.03% at 4291.8 points, up 1.19 points from Monday’s third consecutive day of record closing highs. The Nasdaq closed up 0.19% at 14,528.33 points, closing at a new high for the fourth day in two consecutive days and the last six trading days. The Dow closed up 9.02 points, or 0.03%, at 34,292.29, after closing down 0.44% on Monday to fall off the closing high set on Friday since June 11.
Small-cap stocks continue to underperform the broader market, with value stocks dominating the small-cap index Russell 2000 turning lower at the end of the morning session after continuing to move lower, closing down 0.58%. The tech-heavy Nasdaq 100 closed up 0.33%, continuing to outperform the broader market.
S&P 500 of the 11 sectors, Tuesday only up 0.7% of information technology, up more than 0.6% of health care and up nearly 0.3% of non-essential consumer goods three closed up, information technology led for two consecutive days, down in the sector, down more than 1.6% of the utilities led the decline, other sectors fell less than 0.6%, the bottom of the decline was a slight decline in materials and down more than 0.1% of real estate.
Semiconductor sector ETF SOXX rose nearly 0.8%, outperforming the three major stock indices. Most of the leading technology stocks closed up, but Monday rose more than 2% of Tesla closed down more than 1%. FAANMG six major technology stocks, Monday rose more than 4% of Facebook closed down 1%, Google parent company Alphabet fell more than 0.2%, while Apple rose more than 1%, Microsoft rose 1%, Amazon rose more than 0.1%, Nifty micro up 0.09%.
Among vaccine concept stocks, Moderna closed up more than 5% to a new closing high; Pfizer edged down, with its German partner BioNTech down nearly 0.2%.
Among big bank stocks, Morgan Stanley closed up more than 3% and Goldman Sachs rose about 1%, while Citi and Wells Fargo fell more than 2%, Bank of America dropped more than 1% and JPMorgan Chase dropped more than 0.1%.
Among the popular Chinese stocks, Poundland rose nearly 7%, Good Future and Jingdong rose more than 3%; Daily Fresh fell more than 5% on the third day of listing, and continued to fall in the three days of listing; Dingdong buy vegetables in the first day of listing once rose more than 27%, although had turned down in the session, but finally closed up 0.09%.
European stocks, the European Stoxx 600 index erased more than half of Monday’s losses, the sectors, up nearly 0.9% of the chemical industry led, followed by nearly 0.8% of the automotive and parts and components and up more than 0.6% of oil and gas, banks rose nearly 0.5%, mining stocks where the basic resources rose more than 0.4%. Individual stocks, announced that it will buy back up to 550 million euros of shares of Adidas shares rose nearly 2.5% to a record high; German automotive brake system manufacturer Knorr Bremse plunged more than 12%, the worst performance in the Stoxx 600 constituents, the media said it is interested in acquiring the country’s automotive industry lighting products manufacturer Hella, Hella shares rose nearly 4%.
Dollar index hits one-week high and biggest gain in two weeks Bitcoin rises above $36,000 to hit one-week high Ripple rises more than 10%
The ICE Dollar Index (DXY), which tracks the exchange rate of a basket of six major U.S. dollar currencies, continued to move upward, with U.S. stocks once approaching 92.20 before the bell, hitting a one-week intraday high, up more than 0.3% during the day, the largest intraday gain since mid-June, with U.S. stocks falling back a bit after the opening bell, dropping below 92.10.
By Tuesday’s U.S. stock market close, the dollar index was close to 92.05 reported, up more than 0.17% on the day; the Bloomberg Dollar Spot Index rose 0.2%.
Bitcoin (BTC) continued to move up, U.S. stocks rose above $36,000 at midday, once above $36,600, a new intraday high since last Friday, June 18, up more than $2,000 from the intraday low in early Asian trading, a percentage gain of more than 7%, U.S. stocks closed above $36,300, up more than 5% in the last 24 hours.
Ether (ETH), the second largest cryptocurrency after Bitcoin in terms of market capitalization, also moved up, with U.S. stocks rising above $2,200 at midday, hitting a new high since June 21, up nearly 9% from the intraday low in early Asian trading, with U.S. stocks closing above $2,200, up more than 5% in 24 hours.
CoinMarketCap data shows that mainstream cryptocurrencies continued to rise across the board on Tuesday, with the seventh largest cryptocurrency by market capitalization, Ripple (XRP), up more than 11% in the last 24 hours, the 13th largest cryptocurrency, Litecoin (LTC), up more than 8%, the 12th largest cryptocurrency, Bitcoin Cash (BCH), up more than 6%, and the fourth and fifth largest cryptocurrencies, Coin On Coin (BNB ) and Cardano (ADA) rose nearly 5%, and the sixth largest cryptocurrency Dogcoin (DOGE) rose more than 4%.
European debt retreats 10-year U.S. bond yields fall below 1.5% on the high side
U.S. 10-year benchmark Treasury yields in the European stock market had risen to 1.51% to refresh the daily high, up about 3 basis points during the day, after which gradually retracted the rise, the U.S. stocks before the market that fell below 1.50%, the U.S. stocks were always below 1.49% at lunchtime, to the U.S. stocks close close close to 1.48%, roughly the same level as Monday’s close.
European government bond prices fell collectively on Tuesday, with yields giving back some of Monday’s gains. British 10-year benchmark government bond yields rose 1.6 basis points during the day to 0.738%; German government bond yields rose 2 basis points to -0.17% during the same period.
Gold hit a two-and-a-half-month low and the biggest drop in more than a week, copper hit a one-week low in four consecutive negative, and lead and aluminum hit a three-year high
New York gold futures turned around and plunged, COMEX August gold futures once fell to $ 1750.1, down 1.7% during the day, closing down 1.0% at $ 1763.60 per ounce, a new low for the main contract closing since April 14 this year, and the largest closing decline since June 17. Gold prices have fallen more than 8% this month, fearing the biggest monthly decline since 2013.
New York silver futures also ended a two-day winning streak, with the main contract closing down 1.3%. Platinum fell for two days after ending a five-day winning streak, with NYMEX October platinum futures closing down 2.6% at $1,070.6 per ounce, a new low for the main contract closing since June 22. Palladium retreated, closing down 0.7%, falling off the highs set on Monday since June 16.
London base metals futures rose on Tuesday except for copper, which fell for a fourth straight day to close at $9,334 per tonne, a one-week low, after falling below $9,400 on Monday, while New York copper futures also continued to fall. LunLead rose for two days in a row, rising above $2,300 per tonne to a new high since July 2018. LON aluminum rose for three days in a row to $2,552/mt, a new high since April 2018. LON Tin rose for a seventh straight day to a two-week high. Lunar zinc ended a two-day losing streak and hit a nearly two-week high. Lunar nickel rallied to move closer to a more than three-and-a-half-month high.
Of the four commodities, gold, silver, copper and oil, only crude oil rose on Tuesday.
Crude oil rallies off one-week low, natural gas hits three-and-a-half-year high
U.S. gasoline and natural gas futures rose collectively. nymex August gasoline futures closed up 1% at $2.2415/gallon, ending a two-day losing streak. nymex August natural gas futures closed higher, closing up 1% at $3.63 per million British thermal units, a new high since Dec. 27, 2018, following a streak of days that continued to set new highs since January 2019, with cumulative gains this month gains have reached 23%.
U.S. WTI August crude oil futures closed up $0.07, or 0.09%, at $72.98/barrel; Brent August crude oil futures closed up $0.08, or 0.11%, at $74.76/barrel, both coming out of the closing lows set on Monday since last Friday, June 18, and moving closer to 20-month highs.
On Friday, U.S. oil closed above $74 for the first time since October 2018, while Brewer’s oil rose above $76 to a new high since late October 2018.