Financial Digest August 6: DXY Index Falls Below 100 Points, KOSPI Drops 4%, and Bitcoin Holds at $64,500
Global financial markets are trading mixed. Investors continue to assess corporate earnings, U.S. macroeconomic statistics, and the prospects of the Fed's monetary policy. Additional market influence comes from news about potential progress in negotiations between the U.S. and Iran, which keeps pressure on oil prices.
Global financial markets are trading mixed. Investors continue to assess corporate earnings, U.S. macroeconomic statistics, and the prospects of the Fed's monetary policy. Additional market influence comes from news about potential progress in negotiations between the U.S. and Iran, which keeps pressure on oil prices.
Dow Jones Hits Record at 54,349 and Correction in the Tech Sector
U.S.: The Dow Jones index reached a historic high (54,349 points, +0.49%) thanks to strong corporate earnings. Meanwhile, the S&P 500 fell by 0.17%, and the Nasdaq lost 0.83% amid profit-taking in AI stocks and the tech sector.
Europe and Asia: STOXX 600, DAX, and FTSE 100 are moderately up on falling energy prices, although investors are watching the shallow waters on the Rhine. In Asia, selling prevailed: KOSPI dropped more than 4% due to sell-offs in chipmakers, and Nikkei 225 lost about 1%.
Brent Falls to $79.5, Gold Holds at $4,250
Oil: Oil prices are declining: Brent is trading at $79.50, WTI around $75.40. Pressures come from diplomatic progress between the U.S. and Iran, as well as rising commercial crude inventories in the U.S.
Gold: The precious metal is strengthening and holding at $4,250 per troy ounce amid demand for safe-haven assets.
DXY Index Below 100 Points, EUR/USD Holds at 1.15
Currency Market: The DXY dollar index remains below 100 points amid weak private sector employment data in the U.S. The EUR/USD pair is trading around 1.1500.
Yen: The USD/JPY pair stabilized at 157.80 after the peak of joint interventions by regulators.
Bitcoin Stabilizes Around $64,500
The cryptocurrency market shows neutral dynamics. Bitcoin has stabilized at $64,500, and market participants are awaiting the release of key U.S. macroeconomic statistics.
Key Events of the Day (Kazakhstan Time, UTC+5):
| Category | Event |
|---|---|
| U.S. Macrostats | Jobless claims, labor productivity, and unit labor costs for Q2 |
| U.S. Corporations | Reports from ConocoPhillips, Constellation Energy, Datadog, Warner Bros. Discovery, Airbnb, Cloudflare, Atlassian |
| Asian Region | Assessment of expectations ahead of China's foreign trade data release |
| Energy Resources | Monitoring news background around U.S.-Iran negotiations |
Summary: Sentiments in global markets remain mixed. The historic high of the Dow Jones supports the U.S. market, but pressure on the tech sector and falling oil prices limit index growth. Investors are focused on U.S. macroeconomic statistics, corporate earnings, and further signals regarding the policies of global central banks.