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Wall Street will also be watching economic data, such as retail sales, housing construction, and the Federal Reserve’s Beige Book.
Be sure to take inventory of American stamps! The value of a Forever stamp will drop from $0. 68 to $0. 73 on Sunday, July 14.
For more information and the latest market actions, click here to watch this full episode of Market Domination Overtime.
The FTSE 100 and European shares started the week in the red as sentiment deteriorated. Burberry (BRBY. L) is among the biggest losers on London’s first index after replacing its CEO and postponing its dividend. In the United States, markets rallied as investors digested the obvious assassination attempt on Donald Trump.
The FTSE hundred (^FTSE) fell 0. 7% in early trading, dragged down by Burberry, which lost more than 10% of its price after the opening bell. In the afternoon, the FTSE was down 0. 8%. The luxury retailer announced that it will replace its chief executive and postpone its dividend after disappointing first-quarter monetary results.
The DAX (^GDAXI) fell 0. 8% in Germany and the CAC (^FCHI) fell 1. 2% in Paris.
The pan-European STOXX Six Hundred Index (^STOXX) is down 1%. European stocks followed Asian stocks lower, following a failure of Chinese GDP.
On the other side of the Atlantic, the S
Bets are focused on the Republican candidate’s victory in the November presidential election, which is likely to see taxes cut, price lists raised and regulations relaxed.
That’s all for me – consult our American for more data on market developments.
Chris Beauchamp, lead market analyst at trading platform IG, says:
Burberry’s effects today were disastrous and the stock responded with a 16% drop to its lowest level in 14 years. But the cross-cutting reading focused on two very different sectors: retail and mining. It’s not that either of them is moved by the same story. The former are concerned that Burberry’s disruptions are not an isolated case and that spending by British customers is on a downward trajectory. Meanwhile, the latter are lagging behind in the face of Chinese concerns, amplified by poor GDP figures that threaten demand for raw fabrics and luxury fashion.
Apple shares rose 1. 9% in early US trading today, following the advice of Morgan Stanley analysts.
Morgan Stanley raised its price target and named the stock a “top pick,” highlighting the company’s efforts in artificial intelligence as a driver of device sales, according to Reuters.
The U. S. branch Macy’s is experiencing difficulties in pre-market because it has announced in the market that it has ended talks with Arkhouse Management and Brigade Capital. Macy’s argued that the proposal lacks certainty about funding and offers compelling value.
Inventory will open lower about 11% later.
Goldman Sachs (GS) reported its second-quarter profit jumped 150% from a year earlier, thanks to investment banks, the latest sign that Wall Street is warming up after a two-year dry spell.
The net source of earnings amounted to $3. 04 billion, beating analysts’ expectations. Its total profit of $12. 73 billion also increased by 17% from the previous year.
The result gives CEO David Solomon a boost after the toughest year in his history as boss.
A year ago, he was dealing with slow negotiations, a costly exit from client banking and a series of high-profile departures from the company.
Goldman inventory rose slightly in pre-market trading on Monday. As of last Friday’s close, inventory was up 24% since the beginning of the year.
That’s a 114% increase since Salomon took over just six years ago.
Shares of Trump Media (DJT) soared about 70% in premarket trading as investors increased their bets on Donald Trump winning the US presidential election following the attempt on his life in late of week.
Markets seem to speculate that the assassination attempt makes a Trump victory in November’s presidential election more likely, and that this would give TMTG advantages, despite its monetary difficulties so far.
Charu Chanana, market strategist at Saxo Capital Markets, said: “As markets price in a higher Trump 2. 0 option, the US dollar will likely benefit from tailwinds, while the Mexican peso and Chinese yuan could be affected. Trump’s exchanges may also come back into the spotlight.
Markets expect Trump’s presidency to result in looser tax policy and higher price lists for foreign goods.
Mark McCormick, global head of FX and emerging markets strategy at Toronto Dominion Bank, commented: “For us, the news reinforces the fact that Trump is the front-runner,” Dominion Bank said. “We remain bullish on the U. S. dollar during the time of part of the year and early 2025. “
Trump Media
Bitcoin is up 5% in today’s session, trading above $63,000 for the first time in two weeks.
Neil Wilson, a leading market analyst at Finalto, says this is partly a reaction to the news of Donald Trump’s assassination attempt over the weekend.
“It’s not just that he saw a ‘pro-crypto,’ it’s an exchange of concerns,” Wilson said. “I think there’s genuine concern about what might happen in the United States. Trump talks about uniting the country. “
“We may see a change . . . The former president will give a “completely different speech” on Thursday, rather than the “wonderful” one planned. “Can Trump the Survivor Trump the Savior?”
Here’s Yahoo Finance journalist Pedro Gonçalves’ take on the space worth checking out this morning:
The average sales value of UK assets fell 0. 4% in July as some buyers wait for an interest rate cut from the Bank of England (BoE).
Across Britain, the typical sales value of a new dealer fell 0. 4%, or £1,617, month-on-month in July to £373,493, from £375,110 in June, Rightmove said.
The data suggests that traders are putting their assets up for sale at lower prices to attract investors, that is, at the top of the market, where average selling prices have fallen by 1. 3% month-on-month and by 1% annual. to £681,096.
That’s a bigger drop than the general drop for this time of year, according to the real estate website. Sales prices have fallen by an average of 0. 2% in July over the past two decades, due to the slowdown in the holiday season.
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The British pound is holding steady today but maintains its strength against the greenback, sitting just below the $1. 30 mark. It is about $0. 02 higher than last week, strengthening thanks to greater political stability in the United Kingdom.
Guy Gittins, CEO of Foxtons, said:
It is already very evident that now that the political dust has settled, the post-election market is seeing a notable increase in activity in the following few days.
Now it’s a matter of customers and dealers across the country being ready, ready, and we expect the market momentum to continue through the summer, especially with the prospect of a rate cut expected in September, which could just unleash even more pent-up. Customer demand, especially at the threshold of one million pounds or more.
House prices have seen a fairly alarming rise since the pandemic, data from Rightmove suggests.
Here you have the latest from the housing platform:
The average value of homes put on the market fell 0. 4% to £373,493, a low of £1,617. This is a larger drop than July’s 20-year average of -0. 2%, as dealers catch buyers’ attention with a more attractive offer. value before the summer holidays and the Olympic Games.
Movers are facing more detours than before at this time of year, having weathered the distractions of the general election crusade and the European Championship, but costs remain broadly stable, up 0. 4% from a year ago.
Despite fears by some that the general election crusade would lead to a significant slowdown in movement activities, Rightmove’s millions of insights show that the vast majority of other people have continued their movement since the election was called. The political certainty of having the next government What remains unresolved and a more urgent fear for homebuyers is the timing of the first interest rate cut, with persistently high lending rates to check affordability.
Burberry CEO Jonathan Akeroyd is set to resign, the luxury fashion space announced on Monday, with US executive Joshua Schulman expected to be flown in for an update.
These measures have disappointing monetary effects for the fiscal first quarter. The trench coat stalwart suspended its dividend and said it expects an operating loss in the first part of the year.
The stock closed last week up 1. 3% and looked set to fall at the London open.
After the latest rally last week, it looks like U. S. stock futures will continue to rise when markets open later, as investors respond to Donald Trump’s assassination attempt this weekend.
The dollar and Bitcoin have also risen, while a sell-off in long-term U. S. Treasuries is underway.
Jerome Powell’s speech will be on the minds of markets as bets on a rate cut in September are hedged.
There was heavy promotion in Japanese and Chinese stocks this morning, with the Nikkei (^N225) falling 2. 5% and the Hang Seng (^HSI) falling 1. 6%.
The Nikkei is on its way to reaching all-time highs after surpassing the 42,000 mark.
The measures are in line with the knowledge of Chinese GDP that did not meet forecasts. China’s economic expansion slowed to 4. 7% in the second quarter, missing the expected 5. 1% year-on-year increase. In the first quarter the expansion was 5. 3%.
Hello! Lucy Harley-McKeown here with the day’s market news. The FTSE hundred is expected to fall at the opening bell along with the DAX and CAC.
We’ve already gotten China’s GDP figures and UK spatial value insight from Rightmove. Later we will have more signals from the Fed related to the effects of Jerome Powell and Goldman Sachs.
Let’s go.
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