Stocks poised for slight increase
Stocks are expected to open slightly higher, with a focus on upcoming earnings releases and economic data from the US and China.
Stocks overview
Stocks are expected to open slightly higher, with a focus on upcoming earnings releases and economic data from the US and China.
Hathaway
Hathaway has reported its highest-ever operating profit, while investors were analyzing the recent Halifax reading for the UK health filters sector. The company reported its highest-ever quarterly operating profit, primarily due to rising interest rates and better results in the car insurance unit.
European market
The European market is about to open, with slight increases expected in the FTSE and DAX, but volatility will be impacted by the Bank of England's interest rate hike. France 40 remained mostly unchanged or slightly higher.
Asian share market
Moving to Asia, share markets were cautious due to a mixed US jobs report, leading to a bond rally. Japan's central bank is set to release its summary of opinions for its meeting where adjustments will be made to the yield curve control policy.
US jobs
Wall Street has closed mostly down, with mixed earnings reports and slower US jobs growth affecting the market.
Apple
Apple shares fell, impacting the S&P 500, while Amazon saw an increase after announcing a brighter outlook for the third quarter. Looking ahead to the US market, the pre-market showed a similar cautious sentiment as investors awaited more earnings releases and key inflation data.
China's trade and industrial data
China's trade and industrial data, to be released later in the week, were expected to provide insights into the country's recovery. However, the rebound in China has been limited, with companies like Unilever, Nissan, and Caterpillar warning of slowing earnings. Only a few sectors, like travel, dining, and luxury goods, have seen double-digit sales growth.
UK housing market
German industrial production, fell more than expected in June. On the other hand, the UK housing market showed resilience as first-time buyers sought smaller homes to offset borrowing cost increases.
Oil overview
In the oil market, Saudi Arabia extended its output cut, causing oil prices to edge lower, albeit remaining near the highest levels since mid-April.
Gold overview
Gold prices have been volatile due to inflation concerns and anticipation of US inflation numbers.
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