On Tuesday, U.S. stocks closed higher thanks to a strong rally in the final moment of the trading session. The Dow Jones Industrial Average rose 217 points (+0.85%) to 25812, the S&P 500 gained 47 points (+1.54%) to 3100, and the Nasdaq 100 was up 195 points (+1.96%) to 10156.
Dow Jones Industrial Average: Daily Chart
Source: GAIN Capital, TradingView
Semiconductors & Semiconductor Equipment (+2.89%), Commercial & Professional Services (+2.34%) and Energy (+2.2%) sectors were market leaders. Citizens Financial Group (CFG +7.27%), Hologic (HOLX +6.88%) and Xilinx Inc (XLNX +6.99%) were top gainers. Boeing (BA -5.75%) shares dropped after Norwegian Air Shuttle canceled an order for 97 Boeing jets,
On the technical side, about 38.5% (34.9% in the prior session) of stocks in the S&P 500 Index were trading above their 200-day moving average, and 17.7% (12.5% in the prior session) were trading above their 20-day moving average.
Regarding U.S. economic data, the Market News International's Chicago Business Barometer rose to 36.6 in June (45.0 expected), and the Conference Board's Consumer Confidence Index jumped to 98.1 (91.5 expected).
Due later today are the Automatic Data Processing (ADP) Jobs Report (an addition of 2.850 million private jobs in June expected), Markit's U.S. Manufacturing Purchasing Mangers' Index (49.6 for June expected), Construction Spending (+1.0% on month in May expected). And the Federal Open Market Committee (FOMC) would release minutes of its latest meeting.
European stocks closed mixed. The Stoxx Europe 600 Index edged up 0.1%, Germany's DAX 30 increased 0.6%, while France's CAC 40 declined 0.2% and the U.K.'s FTSE 100 was down 0.9%.
The benchmark 10-year Treasury yield climbed 3 basis points to 0.660%.
Spot gold price advanced $7.00 (+0.5%) to $1,780 an ounce extending its winning streak to a fourth session.
U.S. WTI crude oil futures (August) declined 1.1% to $39.27 a barrel.
On the forex front, the ICE U.S. Dollar Index marked a day-high of 97.80 before closing flat on day at 97.38.
EUR/USD slipped 0.1% to 1.1235. Official data showed that the eurozone's CPI grew 0.3% on year in June (+0.2% expected). Later today, Germany's jobless rate for June (6.5% expected) and retail sales data for May (+3.5% on month expected) will be released.
GBP/USD rebounded 0.8% to 1.2392. Government data showed that U.K. first quarter GDP growth was confirmed at -1.7% on year (-1.6% expected).
USD/JPY rose 0.4% to a three-week high of 107.97. This morning, Japan's Tankan Large Enterprises Manufacturing Index slid to -34 in the second quarter (-31 expected) from -8 in the first quarter, and the Large Enterprises Non-manufacturing Index fell to -17 in the second quarter (-20 expected) from 8.
From time to time, GAIN Capital Australia Pty Ltd (“we”, “our”) website may contain links to other sites and/or resources provided by third parties. These links and/or resources are provided for your information only and we have no control over the contents of those materials, and in no way endorse their content. Any analysis, opinion, commentary or research-based material on our website is for information and educational purposes only and is not, in any circumstances, intended to be an offer, recommendation or solicitation to buy or sell. 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. No representation or warranty is made, express or implied, that the materials on our website are complete or accurate. We are not under any obligation to update any such material.
As such, we (and/or our associated companies) will not be responsible or liable for any loss or damage incurred by you or any third party arising out of, or in connection with, any use of the information on our website (other than with regards to any duty or liability that we are unable to limit or exclude by law or under the applicable regulatory system) and any such liability is hereby expressly disclaimed.