Market Overview July 7: Historic Step for SpaceX in Nasdaq-100, Profit Taking in Samsung, and Anticipation of US Macroeconomic Data

Global markets showed mixed dynamics on Tuesday. Investors are assessing the state of the global economy, the prospects for interest rates from major central banks, and the situation in the technology sector. The main event of the day was the official inclusion of SpaceX in the Nasdaq-100 index, as well as the anticipation of important data on the US labor market and inflation expectations of American consumers.

American indices correct after records, Europe in sideways movement

USA: American indices finished the previous session with gains, with the S&P 500 reaching 7,537 points (+0.72%), and the Dow Jones surpassing 53,000 points for the first time in history. However, ahead of the new session, a moderate correction is observed: the S&P 500 futures are down 0.3%, while the Nasdaq-100 futures are losing about 0.7%. Profit taking in the semiconductor and artificial intelligence sectors after a prolonged rise is putting pressure on the market.

Europe: European indices are trading without a clear direction. Investors are focused on the state of Germany's industry, comments from Bank of England representatives, and the prospects for further ECB policy. The STOXX Europe 600 index is moderately correcting after reaching recent highs.

The technology sector dragged Asian markets down

Asian markets closed predominantly lower. The most significant pressure was observed in South Korea, where investors began actively taking profits in stocks related to artificial intelligence, ignoring strong corporate reports. Samsung's shares fell nearly 7% in this context.

High-profile deals: SpaceX in Nasdaq-100 and Anthropic contract

Inclusion of SpaceX: SpaceX has officially entered the Nasdaq-100 index through the Fast-Track Entry procedure. This is one of the most significant cases of rapid inclusion in the history of the index, confirming the growing influence of the space sector on financial markets. Meanwhile, in the AI infrastructure market, TeraWulf's shares surged sharply after signing a long-term agreement with Anthropic worth about $19 billion.

Currency market: The Dollar Index (DXY) is stable, as the market prices in the hawkish stance of the Fed's Kevin Warsh ahead of the FOMC minutes. The Euro (EUR/USD) is under moderate pressure due to weak industrial statistics from the Eurozone. The USD/JPY pair is holding near multi-year highs around 162 yen, maintaining the risk of interventions from the Bank of Japan.

Pressure on the oil market and stability of Bitcoin

Commodity markets: Oil remains under pressure after OPEC+'s decision to increase production in August. Brent is trading in the range of $72.7–$72.9 per barrel, while WTI is around $69. Uncertainty is driven by new incidents involving commercial vessels in the Strait of Hormuz. Gold is correcting after a rise and is holding within the range of $2,320–$2,340 per ounce.

Cryptocurrencies: Bitcoin remains resilient near local highs. Investor interest in digital assets is supported by stable demand for cryptocurrency ETFs and a continuing influx of institutional capital into high-tech sectors.

Key events of the day (Almaty/Astana time, GMT+5):

Main risks of the day:

Summary: Markets are entering a new trading session without a single direction. American indices remain near historical highs, but investors are becoming more cautious after the rapid growth of the technology sector. The main drivers of today will be the employment data in the USA, trade balance, and inflation expectations of American consumers. Their results could significantly influence expectations regarding Fed interest rates and the further dynamics of global financial markets.