On Tuesday, U.S. stocks were broadly higher at close, as the Dow Jones Industrial Average jumped 556 points (+2.13%) to 26642 posting a three-session rally. The S&P 500 gained 42 points (+1.34%) to 3197, and the Nasdaq 100 rebounded 87 points (+0.82%) to 10689.
Dow Jones Industrial Average: Daily Chart
Source: GAIN Capital, TradingView
Energy (+3.61%), Automobiles & Components (+3.35%) and Materials (+2.54%) sectors performed the best. Noble Energy (NBL +10.73%), Apache Corp (APA +7.87%), Exxon Mobil (XOM +3.31%), Hanesbrands (HBI +9.51%), Ford Motor (F +4.95%) and Caterpillar (CAT +4.83%) were among top gainers.
Big U.S. banks were kicking off a new season of releasing earnings results. Wells Fargo (WFC -4.57%) and Citigroup (C -3.93%) shares closed lower.
On the technical side, about 42.6% (42.0% in the prior session) of stocks in the S&P 500 Index were trading above their 200-day moving average, and 47.7% (50.1% in the prior session) were trading above their 20-day moving average.
U.S. official data showed that Consumer Prices rose 0.6% on month in June (+0.5% expected, -0.1% in May).
European stocks were broadly lower. The Stoxx Europe 600 Index fell 0.84%. Germany's DAX 30 dropped 0.80%, France's CAC 40 lost 0.96%, while the U.K.'s FTSE 100 was little changed.
U.S. government bond prices stabilized, as the benchmark 10-year Treasury yield settled lower at 0.617%.
Spot gold price added $6.00 (+0.4%) to $1,809 an ounce.
U.S. WTI crude oil futures (August) gained 0.5% to $40.29 a barrel.
On the forex front, the ICE U.S. Dollar Index dropped 0.4% on day to a five-week low of 96.19.
EUR/USD advanced 0.6% to 1.1408. Official data showed that the eurozone's industrial production increased 12.4% on month in May (+15.0% expected), while the German ZEW Current Situation Index edged up to -80.9 in July (-65.0 expected) from -83.1 in June.
GBP/USD gained 0.1% to 1.2571. Official data showed that U.K. GDP grew 1.8% on month in May (+5.5% expected) and industrial production rose 6.0% (+6.5% expected). Meanwhile, CPI data for June will be released later in the day (+0.4% on year expected).
USD/JPY was little changed at 107.26. Later today, The Bank of Japan is expected to hold its benchmark rate at -0.10%.
Disclaimer: The information on this web site is not targeted at the general public of any particular country. It is not intended for distribution to residents in any country where such distribution or use would contravene any local law or regulatory requirement. The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on our analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions.
Futures, Options on Futures, Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Losses can exceed your deposits. Increasing leverage increases risk. Spot Gold and Silver contracts are not subject to regulation under the U.S. Commodity Exchange Act. Contracts for Difference (CFDs) are not available for US residents. Before deciding to trade forex and commodity futures, you should carefully consider your financial objectives, level of experience and risk appetite. Any opinions, news, research, analyses, prices or other information contained herein is intended as general information about the subject matter covered and is provided with the understanding that we do not provide any investment, legal, or tax advice. You should consult with appropriate counsel or other advisors on all investment, legal, or tax matters. References to Forex.com or GAIN Capital refer to GAIN Capital Holdings Inc. and its subsidiaries. Please read Characteristics and Risks of Standardized Options.