Markets Digest China GDP Update

July 24, 2023

Market sentiment remained lackluster amidst weak growth readings from China. Market focus has also shifted to the earnings season and the health of the corporate sector.

European benchmarks are trading lower amidst a weakness in the oil and metal sectors. Wall Street Futures are also trading with mild losses. Asian stocks finished trading on a mostly negative note, weighed down by weak economic data from China.

Dollar Index edged lower amidst the greenback’s retreat. Bond yields eased across regions even as markets expected the Fed to raise rates in the ensuing review. Crude oil prices slumped amidst weaker-than-expected GDP data from China and restoration of supplies from Libya. Gold prices edged lower. Cryptocurrencies declined.

Here is a snapshot of the world markets at this hour across stocks, currencies, bonds, commodities and cryptocurrencies.

Stock Indexes:

DJIA (US30) at 34,431.00, down 0.23%
S&P 500 (US500) at 4,500.10, down 0.12%
Germany’s DAX at 16,029.75, down 0.47%
U.K.’s FTSE 100 at 7,416.13, down 0.25%
France’s CAC 40 at 7,283.23, down 1.24
Euro Stoxx 50 at 4,353.55, down 1.06%
Japan’s Nikkei 225 at 32,391.26, down 0.09% (July,14)
Australia’s S&P ASX 200 at 7,298.50, down 0.06%
China’s Shanghai Composite at 3,209.63, down 0.87%
Hong Kong’s Hang Seng at 19,413.78, up 0.00%

Currencies:

EUR/USD at 1.1233, up 0.05%
GBP/USD at 1.3090, up 0.03%
USD/JPY at 138.11, down 0.45%
AUD/USD at 0.6813, down 0.35%
USD/CAD at 1.3222, up 0.05%
Dollar Index at 99.82, down 0.10%

Ten-Year Govt Bond Yields:

U.S. at 3.781%, down 1.00%
Germany at 2.4220%, down 2.14%
France at 2.985%, down 1.71%
U.K. at 4.4285%, down 0.39%
Japan at 0.475%, down 1.04%

Commodities:

Brent Oil Futures (Sep) at $78.62, down 1.57%.
Crude Oil WTI Futures (Sep) at $74.15, down 1.55%.
Gold Futures (Aug) at $1,963.25, down 0.06%.

Cryptocurrencies:

Bitcoin at $30,097.16, down 0.73%
Ethereum at $1,908.61, down 1.25%
XRP at $0.7329, down 2.35%
BNB at $242.21, down 3.15%
Solana (SOL) at $0.2716, down 3.29%

Source: Read Full Article