Alphaex Capital Daily Market Brief


European Equity Markets

The Stoxx 600 closed higher by 0.4%. All major bourses also closed higher with the German DAX leading the way, finishing up 1.2%. Auto stocks led the gains closing up 3.4% thanks to the news of German car-makers were prepared to support an elimination of EU tariffs on cars imported from the U.S. Shares of Daimler, BMW, and Volkswagen all closed around 4%higher.

US Equity Markets

Major indices closed higher on Thursday as reports that the US and the EU may agree to withdraw auto tariffs. Technology stocks led market gains on the S&P 500, with shares of several chip-makers rising. The S&P 500 gained 0.86%, to 2,736.61 and the Nasdaq Composite added 1.12%, to 7,586.43. Micron shares rose 2.6% after the company forecast only a small hit from a temporary ban on some sales in China.

Asian Equity Markets


The Shanghai Composite fell 0.34%. Hong Kong’s Hang Seng Index traded 0.48% lower. The Nikkei 225 traded up by 0.81% as most sectors rebounded after the benchmark’s three consecutive sessions of declines. Automakers rose 1.37% as major automakers gained, with Toyota Motor up 1.71%.

Forex Markets

Traders caution ahead of Washington’s implementation of its threatened tariffs on Chinese goods and the U.S. jobs report due later in the day. The USD/JPY was 0.1% lower at 110.570 yen. China’s yuan was little changed in offshore trade after dipping 0.2% the previous day.


Commodities Markets

Oil prices dipped on Friday due to impending import tariffs expected to be imposed later in the day by the world’s two biggest economies, the United States and China. Brent crude futures fell 25 cents to $77.14 per barrel from their last close. U.S. West Texas Intermediate (WTI) futures were down 15 cents at $72.79. Weighing on prices was a rise in U.S. crude inventories of 1.2 million barrels in the week to June 29, to 417.88 million barrels, the U.S. Energy Administration (EIA) said on Thursday.

Bond Markets

U.S. shorter-dated Treasury yields increased slightly on Thursday following the Federal Reserve’s release of the minutes from its latest policy meeting, where it hinted at the probability of raising short-term interest rates twice more in 2018. The U.S. yield curve held near its flattest level in about 11 years following the release of the minutes. The yield on benchmark 10-year Treasury notes was 2.838 percent, flat on the day.

Risk Warning

Trading carried a high level of risk to your capital. Losses can exceed deposits. Please read the full risk warning here


Trading spot foreign exchange and futures on margin carries a high level of risk and may not be suitable for all investors. You may lose all your capital. Loses can exceed deposits. Past performance is not indicative of future results. The high degree of leverage can work against you as well as for you. Before deciding to invest in spot foreign exchange or futures you should carefully consider your investment objectives, level of experience, and risk appetite. If you are in any doubt about investment or the mechanics of such products, you should seek independent financial advice.

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