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Many large American companies will report today - 26.10.2021

Many large American companies will report today
Mary Wild
Mary Wild
Senior Analytical Expert
Articles:231

Todays’ Market Summary

  • The US dollar index rose by the end of the day, on Monday.
  • American stock indices rose yesterday.
  • Today world oil prices are slightly downward corrected.
  • Gold quotes are declining today amid rising US dollar index.

Top daily news

The US dollar index rose by the end of the day, on Monday. There were no particularly important economic events. Nevertheless, today the American currency continues to strengthen. Yesterday, the S&P 500 and Dow once again hit new all-time highs thanks to Tesla shares (+ 12.7%). Quarterly financial results of Microsoft, Alphabet (owned by Google), Visa, Eli Lilly, Texas Instruments, United Parcel Service, Advanced Micro Devices, General Electric, 3M and other companies will be released in the US today.

Forex news

Currency PairChange
EURUSD -0.04%
GBPUSD -0.01%
USDJPY +0.31%

The US dollar index rose by the end of the day, on Monday. There were no particularly important economic events. Nevertheless, today the American currency continues to strengthen. Investors probably remembered that the Fed could begin tightening its monetary policy at a meeting on November 3. In addition, the message from Xinhua News Agency about the existence of economic problems in China and plans to solve them by stimulating domestic consumption could have become a positive for the US dollar. Yesterday, Germany's Ifo Business Climate index for October fell for the 4th time in a row. This weakened the euro. CB Consumer Confidence for October and New Home Sales for September are due today in the US. The forecast is neutral. Bitcoin quotes have stopped their rapid growth so far and are consolidating above the support level of $ 60,000.

Stock Market news

IndicesChange
DJI +0.18%
SP500 +0.47%
Nd100 +0.9%
USDIDX +0.13%

American stock indices rose yesterday. The S&P 500 and Dow once again hit new all-time highs. Shares in Tesla, an electric car maker, soared 12.7% after car rental company Hertz Global Holdings announced plans to buy more than 100,000 of its electric vehicles. Note that even taking into account this order, the share of electric vehicles (EV) of all brands in the Hertz rental fleet will be only 20%. Thus, the potential for its increase remains. Facebook's quarterly reporting was rather neutral as revenue growth slowed. However, this did not stop its shares from gaining 1.3%. Against the background of high world prices for oil, gas and coal, the growth of the S&P 500 Energy sectoral index was almost 1.4% yesterday. The leader of the increase was the S&P 500 Consumer Discretionary (+ 2.1%). High inflation in the United States boosts the revenue of consumer goods companies. Quarterly financial results of Microsoft, Alphabet (owned by Google), Visa, Eli Lilly, Texas Instruments, United Parcel Service, Advanced Micro Devices, General Electric, 3M and other companies will be released in the US today. As the previous corporate reports exceeded forecasts, futures for US stock indices are now growing in anticipation that today's indicators will be positive.

Commodity Market news

CommoditiesChange
OIL -0.44%
#C-BRENT -0.25%
#C-COPPER -0.95%

Today world oil prices are slightly downward corrected. Investors expect an increase in US inventories. An additional negative was the new outbreak of Covid-19 in China, as well as the expected start of a new round of negotiations between Western countries and Iran on the "nuclear deal". Cattle futures (LCATTLE and FCATTLE) rose yesterday on the back of the U.S. Department of Agriculture on reducing feed yards and increasing slaughter in September.

Gold Market News

MetalsChange
XAUUSD -0.2%
XAGUSD -0.76%

Gold quotes are declining today amid rising US dollar index. Nevertheless, they are still slightly above the psychological level of $ 1800 per ounce. Gold is supported by a slight decline in U.S. yields. 10-Year Bond up to 1.64% per annum from 1.7%. Investors are looking forward to meetings of Bank of Canada, Bank of Japan and European Central Bank this week. Tighter monetary policy could have a negative impact on precious metals quotes. Meetings of the US Federal Reserve and the Bank of England will take place next week.

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