Description

The Dow Jones gained 177 points (+0.5%), ending the week on a win. At its best, the Dow was up by 283 points, while at its worst, it was up 72 points. The S&P 500 also saw an increase of 0.99%, while the NASDAQ rose 1.9% as US reporting season continued.

The USD Index slipped on price data showing moderation in annual US inflation. VIX was down 7.7%, and Gold bounced up 0.72%.

Roku surged 31.41%, beating market revenue expectations, Procter & Gamble rose 2.93% on upbeat results and outlook. Conversely, Exxon fell 1.2% on mixed results, and Ford fell 3.53% after pushing back its EV production goal to next year despite strong quarterly results.

HEADLINES

• ASX to rise, RBA policy meeting tops weekly agenda.
• Wall St Week Ahead-Hopes of 'Goldilocks' economy, rate peak buoy US stocks.
• Second-quarter U.S. earnings estimate still weak, but improving.
• August trading lull anticipated as US summer holidays heat up
• Banks vote to limit accounting of emissions in bond and stock sales.
• China hopes France can help take heat out of relations with EU.
• UK banks back in political crosshairs after Farage fiasco.
• White House cuts 2023 US deficit forecast after court blocks student loan forgiveness.
• Endgame for Fed's tightening cycle challenged by easing financial conditions.
• BOJ loosens grip on rates as prices rise, markets bet on bigger pivot.

Why not sign up for a free trial? Get access to expert insights and research and become a better investor.

Make life simple. Invest with Marcus Today.