Asia Morning July 17
On Thursday, U.S. stocks closed in negative territory...coronavirus lockdowns have led to a total of 51 million job losses across the country...
Share this:
On Thursday, U.S. stocks closed in negative territory. The Dow Jones Industrial Average fell 135 points (-0.50%) to 26734, the S&P 500 dropped 11 points (-0.34%) to 3215, and the Nasdaq 100 was down 75 points (-0.70%) to 10626.
Nasdaq 100 Index: Daily Chart
Source: GAIN Capital, TradingView
U.S. Labor Department reported that Initial Jobless Claims amounted to 1.300 million for the week ended July 11 (1.250 million expected). In other words, coronavirus lockdowns have led to a total of 51 million job losses across the country.
Prior to the session, China's benchmark Shanghai Composite Index slumped 4.50%, the largest one-day loss since early February, and Hong Kong's Hang Seng Index lost 2.00%
Software & Services (-1.53%), Consumer Services (-1.48%) and Real Estate (-1.19%) sectors lost the most.
Travel-related stocks such as Norwegian Cruise Line (NCLH -15.62%), Carnival Corp (CCL -9.73%), Royal Caribbean Cruises (RCL -7.57%) and American Airlines (AAL -7.37%), which were top gainers in the prior session, led the market lower Thursday.
On the technical side, about 52.0% (46.8% in the prior session) of stocks in the S&P 500 Index were trading above their 200-day moving average, and 82.8% (65.1% in the prior session) were trading above their 20-day moving average.
U.S. official data showed that Retail Sales jumped 7.5% on month in June (+5.0% expected).
Due later today are reports on Housing Starts (an increase in annualized rate to 1.180 million units in June expected) and the University of Michigan's Consumer Sentiment Index (July preliminary reading expected at 79.0).
European stocks also ended in the red. The Stoxx Europe 600 Index eased 0.47%. Germany's DAX 30 slipped 0.43%, France's CAC 40 dropped 0.46%, and the U.K.'s FTSE 100 was down 0.67%.
The benchmark U.S. 10-year Treasury yield sank back to 0.614% from 0.629% Wednesday.
Spot gold price retreated $13.00 (-0.7%) to $1,797 an ounce halting a three-session rally.
Oil prices lacked upward momentum amid muted market sentiment. U.S. WTI crude oil futures (August) settled 1.1% lower at $40.75 a barrel.
On the forex front, the ICE U.S. Dollar Index rebounded 0.3% on day to 96.30, snapping a four-day losing streak.
EUR/USD marked a day-high of 1.1443 before closing down 0.2% to 1.1385. The European Central Bank kept its monetary policy unchanged as expected. ECB President Christine Lagarde said the central bank currently expects to spend the full amount of its pandemic bond-buying program.
GBP/USD fell 0.2% to 1.2556. Official data showed that U.K. ILO jobless rate remained at 3.9% in the three months to May (4.2% expected), compared with the three months to April.
USD/JPY rose 0.4% to 107.32.
Nasdaq 100 Index: Daily Chart
Source: GAIN Capital, TradingView
U.S. Labor Department reported that Initial Jobless Claims amounted to 1.300 million for the week ended July 11 (1.250 million expected). In other words, coronavirus lockdowns have led to a total of 51 million job losses across the country.
Prior to the session, China's benchmark Shanghai Composite Index slumped 4.50%, the largest one-day loss since early February, and Hong Kong's Hang Seng Index lost 2.00%
Software & Services (-1.53%), Consumer Services (-1.48%) and Real Estate (-1.19%) sectors lost the most.
Travel-related stocks such as Norwegian Cruise Line (NCLH -15.62%), Carnival Corp (CCL -9.73%), Royal Caribbean Cruises (RCL -7.57%) and American Airlines (AAL -7.37%), which were top gainers in the prior session, led the market lower Thursday.
On the technical side, about 52.0% (46.8% in the prior session) of stocks in the S&P 500 Index were trading above their 200-day moving average, and 82.8% (65.1% in the prior session) were trading above their 20-day moving average.
U.S. official data showed that Retail Sales jumped 7.5% on month in June (+5.0% expected).
Due later today are reports on Housing Starts (an increase in annualized rate to 1.180 million units in June expected) and the University of Michigan's Consumer Sentiment Index (July preliminary reading expected at 79.0).
European stocks also ended in the red. The Stoxx Europe 600 Index eased 0.47%. Germany's DAX 30 slipped 0.43%, France's CAC 40 dropped 0.46%, and the U.K.'s FTSE 100 was down 0.67%.
The benchmark U.S. 10-year Treasury yield sank back to 0.614% from 0.629% Wednesday.
Spot gold price retreated $13.00 (-0.7%) to $1,797 an ounce halting a three-session rally.
Oil prices lacked upward momentum amid muted market sentiment. U.S. WTI crude oil futures (August) settled 1.1% lower at $40.75 a barrel.
On the forex front, the ICE U.S. Dollar Index rebounded 0.3% on day to 96.30, snapping a four-day losing streak.
EUR/USD marked a day-high of 1.1443 before closing down 0.2% to 1.1385. The European Central Bank kept its monetary policy unchanged as expected. ECB President Christine Lagarde said the central bank currently expects to spend the full amount of its pandemic bond-buying program.
GBP/USD fell 0.2% to 1.2556. Official data showed that U.K. ILO jobless rate remained at 3.9% in the three months to May (4.2% expected), compared with the three months to April.
USD/JPY rose 0.4% to 107.32.
On Thursday, U.S. stocks closed in negative territory. The Dow Jones Industrial Average fell 135 points (-0.50%) to 26734, the S&P 500 dropped 11 points (-0.34%) to 3215, and the Nasdaq 100 was down 75 points (-0.70%) to 10626.
Nasdaq 100 Index: Daily Chart
Source: GAIN Capital, TradingView
U.S. Labor Department reported that Initial Jobless Claims amounted to 1.300 million for the week ended July 11 (1.250 million expected). In other words, coronavirus lockdowns have led to a total of 51 million job losses across the country.
Prior to the session, China's benchmark Shanghai Composite Index slumped 4.50%, the largest one-day loss since early February, and Hong Kong's Hang Seng Index lost 2.00%
Software & Services (-1.53%), Consumer Services (-1.48%) and Real Estate (-1.19%) sectors lost the most.
Travel-related stocks such as Norwegian Cruise Line (NCLH -15.62%), Carnival Corp (CCL -9.73%), Royal Caribbean Cruises (RCL -7.57%) and American Airlines (AAL -7.37%), which were top gainers in the prior session, led the market lower Thursday.
On the technical side, about 52.0% (46.8% in the prior session) of stocks in the S&P 500 Index were trading above their 200-day moving average, and 82.8% (65.1% in the prior session) were trading above their 20-day moving average.
U.S. official data showed that Retail Sales jumped 7.5% on month in June (+5.0% expected).
Due later today are reports on Housing Starts (an increase in annualized rate to 1.180 million units in June expected) and the University of Michigan's Consumer Sentiment Index (July preliminary reading expected at 79.0).
European stocks also ended in the red. The Stoxx Europe 600 Index eased 0.47%. Germany's DAX 30 slipped 0.43%, France's CAC 40 dropped 0.46%, and the U.K.'s FTSE 100 was down 0.67%.
The benchmark U.S. 10-year Treasury yield sank back to 0.614% from 0.629% Wednesday.
Spot gold price retreated $13.00 (-0.7%) to $1,797 an ounce halting a three-session rally.
Oil prices lacked upward momentum amid muted market sentiment. U.S. WTI crude oil futures (August) settled 1.1% lower at $40.75 a barrel.
On the forex front, the ICE U.S. Dollar Index rebounded 0.3% on day to 96.30, snapping a four-day losing streak.
EUR/USD marked a day-high of 1.1443 before closing down 0.2% to 1.1385. The European Central Bank kept its monetary policy unchanged as expected. ECB President Christine Lagarde said the central bank currently expects to spend the full amount of its pandemic bond-buying program.
GBP/USD fell 0.2% to 1.2556. Official data showed that U.K. ILO jobless rate remained at 3.9% in the three months to May (4.2% expected), compared with the three months to April.
USD/JPY rose 0.4% to 107.32.
Nasdaq 100 Index: Daily Chart
Source: GAIN Capital, TradingView
U.S. Labor Department reported that Initial Jobless Claims amounted to 1.300 million for the week ended July 11 (1.250 million expected). In other words, coronavirus lockdowns have led to a total of 51 million job losses across the country.
Prior to the session, China's benchmark Shanghai Composite Index slumped 4.50%, the largest one-day loss since early February, and Hong Kong's Hang Seng Index lost 2.00%
Software & Services (-1.53%), Consumer Services (-1.48%) and Real Estate (-1.19%) sectors lost the most.
Travel-related stocks such as Norwegian Cruise Line (NCLH -15.62%), Carnival Corp (CCL -9.73%), Royal Caribbean Cruises (RCL -7.57%) and American Airlines (AAL -7.37%), which were top gainers in the prior session, led the market lower Thursday.
On the technical side, about 52.0% (46.8% in the prior session) of stocks in the S&P 500 Index were trading above their 200-day moving average, and 82.8% (65.1% in the prior session) were trading above their 20-day moving average.
U.S. official data showed that Retail Sales jumped 7.5% on month in June (+5.0% expected).
Due later today are reports on Housing Starts (an increase in annualized rate to 1.180 million units in June expected) and the University of Michigan's Consumer Sentiment Index (July preliminary reading expected at 79.0).
European stocks also ended in the red. The Stoxx Europe 600 Index eased 0.47%. Germany's DAX 30 slipped 0.43%, France's CAC 40 dropped 0.46%, and the U.K.'s FTSE 100 was down 0.67%.
The benchmark U.S. 10-year Treasury yield sank back to 0.614% from 0.629% Wednesday.
Spot gold price retreated $13.00 (-0.7%) to $1,797 an ounce halting a three-session rally.
Oil prices lacked upward momentum amid muted market sentiment. U.S. WTI crude oil futures (August) settled 1.1% lower at $40.75 a barrel.
On the forex front, the ICE U.S. Dollar Index rebounded 0.3% on day to 96.30, snapping a four-day losing streak.
EUR/USD marked a day-high of 1.1443 before closing down 0.2% to 1.1385. The European Central Bank kept its monetary policy unchanged as expected. ECB President Christine Lagarde said the central bank currently expects to spend the full amount of its pandemic bond-buying program.
GBP/USD fell 0.2% to 1.2556. Official data showed that U.K. ILO jobless rate remained at 3.9% in the three months to May (4.2% expected), compared with the three months to April.
USD/JPY rose 0.4% to 107.32.
Related tags:
Latest market news
The complete CFD trading experience
Award-winning platforms, competitive spreads, low commissions and dedicated support.
We live and breathe the markets and are dedicated to helping traders realise their ambitions as we continue to set the industry bar.
Economic calendar
Web Trader platform
Our sophisticated web-based platform is packed with features.
Related articles
EUR/USD weekly outlook: Oil, inflation and NFP in focus
After coming under significant pressure in recent weeks, the EUR/USD came off its lows to finish the week on a positive note on Friday, albeit with only a mild rebound. That was not enough to prevent the exchange rate falling for the third consecutive week, as the US dollar and bond yields rallied across the board.
USD/JPY Weekly Outlook: Payrolls loom as US rates remain the dominant driver
Strong US growth and hawkish Fed pricing continue to support USD/JPY, while intervention risk appears to be kicking in at lower levels
EUR/USD Q4 2026 Outlook: Euro at a Crossroads as Fed, ECB Tighten 9 25 2026
EUR/USD enters Q4 at a pivotal inflection point as competing Fed-ECB policy paths and persistent inflation risks collide with major technical support.
StoneX Europe Ltd may make third party material available on this website which may contain information included but not limited to the conditions of financial markets. The material is for information purposes only and does not contain, and should not be construed as containing, investment advice and/or investment recommendation and/or an investment research and/or an offer of or solicitation for any transactions in financial instruments; any decision to enter into a specific transaction shall be made by the client following an assessment by him/her of their situation.
StoneX Europe Ltd makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplied. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. We are not under any obligation to update any such material. Any opinion made may be personal to the author and may not reflect the opinion of StoneX Europe Ltd.