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Dollar Continues Impressive Winning Streak for 8th Consecutive Week; U.S. Stocks Show Modest Gains

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Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 24, 2023.

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Longer-dated Treasury yields ease

  • Longer-dated Treasury yields have seen a decrease in recent days.
  • This decline in yields could have an impact on the overall economy and financial markets.
  • Investors are closely monitoring this trend to make informed decisions.

Apple shares up slightly after 2 days of losses

After experiencing losses for two consecutive days, Apple shares have seen a slight increase in value. This could be attributed to positive market sentiment and investor confidence in the company’s future prospects.

Oil prices gain

The prices of oil have witnessed a notable increase in recent trading sessions. This rise in prices can be attributed to various factors, including concerns over tight oil supplies and rising demand.

U.S. dollar index registers eighth straight week of gains

The U.S. dollar index has recorded its eighth consecutive week of gains. This winning streak is the longest since 2014 and has been supported by recent data indicating the resilience of the U.S. economy.

Global stock indexes end slightly higher

Global stock indexes have closed slightly higher, indicating positive market sentiment. Investors are closely monitoring these indexes as they await key U.S. inflation data scheduled to be released next week.

Concerns over China’s slowing economy

China’s onshore yuan has ended its domestic session at its weakest level since 2007. This decline in value has raised concerns about China’s slowing economy and its potential impact on global markets.

Speculation on U.S. interest rates

Strong U.S. economic data has led to speculation about the possibility of the Federal Reserve raising interest rates. Investors are eagerly awaiting the U.S. Consumer Price Index reading for August, which is expected to provide further insights into the future direction of interest rates.

Wall Street’s major stock indexes end slightly higher

  • The Dow Jones Industrial Average rose by 0.22%.
  • The S&P 500 gained 0.14%.
  • The Nasdaq Composite added 0.09%.

European and global stock indexes show mixed results

The pan-European STOXX 600 index has ended slightly higher, breaking a seven-day string of losses. Meanwhile, MSCI’s gauge of stocks across the globe has recorded a minimal gain. Investors are closely monitoring these indexes for further market trends.

Japanese policymakers concerned about yen’s slide

Japanese policymakers have expressed growing concerns about the weakening of the yen. They have stated that they will not rule out any option to address speculative moves in the currency market. The yen is currently trading on the weaker side, prompting concerns about potential intervention.

Longer-dated U.S. Treasury yields slip

Longer-dated U.S. Treasury yields have seen a slight decrease as investors analyze recent comments from Federal Reserve officials. Some comments have suggested that the central bank may pause its rate hike cycle, leading to a decline in yields.

Oil prices rise to nine-month high

Oil prices have reached a nine-month high due to rising U.S. diesel futures and concerns over tight oil supplies. Brent futures and U.S. crude have both seen significant increases in value, indicating positive market sentiment towards the oil industry.

Additional reporting by Huw Jones in London and Heekyong Yang in Seoul; Editing by Shri Navaratnam, Tomasz Janowski, David Evans and Richard Chang

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