Morning Call: Nasdaq weakness persists
Senior Editor, Saxo Bank
Summary: Join Saxo Head of Commodity Strategy Ole Hansen as he discusses how equities remain under heavy trade war pressure, while the Japanese yen rides high on the uncertainty. Elsewhere, the corn price has surged and crude oil is stuck in a rut.
Podcast: New highs for US stocks, NatGas rips higher
Today we look at US equities pulling to new highs for the cycle, while volatility indicators continue to signal a reluctance to wax too complacent. Europe also posted a solid comeback yesterday after recent weakness. We also look at enormous price hop in Natural Gas yesterday in the US and possible takeaways of interest for future inflation, take status of the US dollar, check in on the strength of various equity themes and much more.
Market Quick Take - August 4, 2020
The Nasdaq 100 closed yesterday at a new record high and cleared 11,000 on the close for the first time after two prior tests. The S&P 500 posted its own new post-virus meltdown high as well, and Europe bounced back strongly from its recent weakness as the market pins its hopes on new US stimulus arriving quickly. Gold eked out marginal new record highs while safe haven yields backed up from near three-month lows.
Market Quick Take - August 3, 2020
Stocks ended July in mixed fashion, with the major US indices still perched near the highs for the cycle, while Europe is struggling into the close of the month, held down in part by the very strong euro in July. As the often-volatile month of August gets underway, earnings season is still a focus, if less so, while US employment data and the course of COVID-19 virus resurgence are in focus this week.
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