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%.
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.