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Rescue Apple Nasdaq?
After Wall Street spent most of its time partying in July, the air seems to have flown away for a few days as the end of the month approaches. Also, on Tuesday, it does not look like buying mood.
However, the equity futures market indicates a somewhat stronger trend towards trading in the spot market. However, more decisive seems the possible stabilization of Nasdaq indices, here a well-established trading start is indicated. Until now, the Dow Jones is still in July despite the recent drought still 4.3 percent higher, S & P 500 and composite Nasdaq followed with markups of 3.1 and 1.6 percent.
"Technology investors are watching Apple today," said ThinkMarkets chief market badyst Naeem Aslam. The technology giant could "save" the Nasdaq with its business numbers.
In addition, he is still on the stock market to handle a whole series of economic data. Spending and US household income rose sharply in June, suggesting that consumers are able to stimulate the economy. The US Federal Reserve's preferred price measure, the index of total personal consumption expenditure (PCE), rose 0.1% month on month. During the year, the index rose 2.2%. The Fed is targeting inflation of 2%.
In contrast, labor costs in the United States grew at the fastest pace in nearly a decade in the second quarter. Compared to the previous quarter, however, the increase was somewhat slower than expected. For the full year, labor costs increased 2.8% in the second quarter.
The session is also followed by the index of purchasing managers in the Greater Chicago area and consumer confidence – both data for July – and the Case housing price index -Shiller for May. Recently, however, macroeconomic signals have had no influence on the market. The focus is clearly on the reporting season of companies, and unlike Europe, it is especially very encouraging in the United States.
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