Market Overview July 30: Microsoft Soars (+15%) Boosting Nasdaq by 2.78%, Fed Holds Rates, US GDP Grows by 1.5%

Global financial markets are reacting to the results of the US Federal Reserve meeting and the release of key macroeconomic statistics. The decision to maintain the rate at 3.50–3.75% was accompanied by tough rhetoric from the regulator. Meanwhile, strong quarterly results from tech giants have rekindled investors' appetite for risk, despite ongoing pressure from high yields on US government bonds.

Powerful Rally in the Tech Sector: Microsoft Soars by 15%

US and Corporations: American indices showed strong growth led by the Nasdaq. The main driver was Microsoft, whose shares soared more than 15% thanks to record results from its cloud division Azure. This triggered a wave of buying in the semiconductor sector (Micron, Sandisk). Meta's shares fell due to rising capital expenditures on AI. The market is holding its breath in anticipation of today's reports from Apple and Amazon after the session closes.

Europe and Asia: The STOXX Europe 600 index rose by 0.8%. Asian markets are showing mixed dynamics, recovering from local sell-offs and awaiting decisions from Asian regulators.

Fed and Bank of England Hold Rates, US GDP Slows to 1.5%

Regulators' Decisions: The US Fed maintained the base rate in the range of 3.50–3.75%. Chair Kevin Warsh emphasized the priority of fighting inflation. The Bank of England also held its key rate at 3.75%.

Statistics: The preliminary estimate of US GDP for Q2 showed a growth of 1.5% year-on-year, which was weaker than forecasts and indicated a cooling of the US economy.

Dollar Weakens and Bond Yields Hit Records

Currencies: After the Fed meeting, the dollar index began to correct: the EUR/USD pair rose to 1.1450, GBP/USD to 1.3340. The Japanese yen stabilized at 163.7 per dollar amid expectations for tomorrow's Bank of Japan meeting.

Bonds: The yield on 10-year Treasuries remains at 4.68%, while 30-year bonds reached a multi-year high of 5.24%.

Brent Stabilizes at $88, Gold Holds Above $4,100

Energy and Metals: Brent quotes entered a consolidation phase in the range of $87–89 per barrel (WTI — $84–87). Gold firmly holds above $4,100 per troy ounce, reacting to the weakening US dollar.

Cryptocurrencies: Bitcoin recovered to $64,800 following an overall improvement in sentiment in the tech sector.

Economic Events of the Day (Astana Time / GMT+5):

Summary: On July 30, markets showed a confident rebound following the Fed's decision and strong Microsoft earnings. Despite the tough rhetoric from regulators and record growth in 30-year US bond yields, the tech sector maintains its status as the main driver of market risk appetite.