Asia Morning August 11

Wall Street sign with a building in background
On Monday, U.S. stocks closed mixed again as tech stocks lagged behind. The Dow Jones Industrial Average jumped 358 points (+1.30%) to 27791 posting a seven-session rally. The S&P 500 added 9 points (+0.27%) to 3360, while the Nasdaq 100 dropped 54 points (-0.49%) to 11085.


Dow Jones Industrial Average: Daily Chart


Source: GAIN Capital, TradingView


Automobiles & Components (+3.86%), Energy (+3.08%) and Consumer Durables & Apparel (+3.01%) sectors traded higher, while Software & Services (-1.42%), Media (-0.72%) and Pharmaceuticals, Biotechnology & Life Sciences (-0.5%) sectors were under pressure. 

MGM Resorts International (MGM +13.77%), Wynn Resorts (WYNN +9.96%), Royal Caribbean Cruises (RCL +10%), United Airlines (UAL +9.35%) and Fedex (FDX +8.96%) were top gainers. 

European stocks were stable. The Stoxx Europe 600 Index climbed 0.30%, Germany's DAX 30 edged up 0.10%, France's CAC 40 gained 0.41% and the U.K.'s FTSE 100 was up 0.31%.

The benchmark 10-year Treasury yield stepped up to 0.571% from 0.562% Friday.

Spot gold price was down for a second session falling $7.00 to $2,027 an ounce. Spot silver price jumped 2.8% to $29.12 an ounce, the highest close since March 2013.

U.S. WTI crude oil futures (September) charged 1.7% higher to $41.94 a barrel.

On the forex front, the ICE U.S. Dollar Index gained 0.2% on day to 93.61, up for a second straight session.

EUR/USD fell 0.4% to 1.1741. Later today, the German ZEW Current Situation Index for August will be released (-69.5 expected).

GBP/USD marked a day-low of 1.3020 before closing up 0.2% at 1.3074. Investors will focus on the U.K. jobless rate for the three months to June due later in the day (steady at 4.2% expected).

USD/JPY was little changed at 105.96.

Meanwhile, USD/CAD dropped 0.2% to 1.3357, as the Canadian dollar was lifted by a rebound in oil prices.

Other commodity-linked currencies were broadly lower against the greenback. AUD/USD slipped 0.1% to 0.7150 and NZD/USD was down 0.2% to 0.6590.

Open an account in minutes

Experience award-winning platforms with fast and secure execution.

Live Trading Webinars

Our interactive webinars, led by our industry experts, come highly recommended and can help provide your trading with the edge it needs.
Economic Calendar