Archives of “July 25, 2020” day
rssThe distribution of wealth in the world.
Winners and losers in a flat market
US Shale is staging a very tiny recovery… but still off nearly 2mbd from the peak
2020 and this is the best they can do?
Who’s buying US treasuries?
$277 gold spread between Mumbai and Shanghai.
Key economic releases and events for next week’s trading
Big week for stock earnings. Advance GDP to be released
In addition to a slew of big-name earnings including Apple, Amazon, Google the key economic releases and events for next week include:
Monday, July 27
- US durable goods, 8:30 AM ET/1230 GMT
Tuesday, July 28
- RBA assistant governor can’t speaks at 8 PM ET, Monday/0030 GMT
- Spanish unemployment rate, 3 AM ET/0700 GMT
- US consumer confidence, 10 AM ET/1400 GMT
Wednesday, July 29
- Australia CPI QoQ, 9:30 PM ET Tuesday/0130 GMT
- US pending home sales, 10 AM ET/1400 GMT
- FOMC decision and statement, 2 PM ET/1800 GMT
- FOMC press conference, 2:30 PM ET/1830 GMT
Thursday, July 30
- German preliminary GDP quarter on quarter, 4 AM ET/0 800 GMT
- US advance GDP for the 2nd quarter annualized, 8:30 AM ET/1230 GMT
- US initial claims for unemployment, 8:30 AM ET/1230 GMT
Friday, July 31
- China manufacturing PMI, 9 PM ET Thursday/0100 GMT
- Canada GDP, 8:30 AM ET/12:30 GMT
- US core PCE price index 8:30 AM ET/1230 GMT
- Chicago purchasing managers index, 9:45 AM ET/1345 GMT
- University of Michigan consumer sentiment revised, 10 AM ET/1400 GMT
In addition, the US coronavirus relief package will continue to be worked out between Republicans and Democrats.
Trump signs four executive orders on drug costs
- Order passing along discounts on insulin, EpiPen
- order to allow legal importation of drugs
- US will allow the legal importation of prescription drugs from Canada and other countries where prices are lower
- orders will completely restructure prescription drug market
- Medicare will be required to purchase drugs at the same price that other countries pay
Dow and S&P post the 1st negative week in 4 weeks
NASDAQ down for the 2nd week in a row
US major indices are ending the session with declines. For the week each of the major indices are also lower. It was the 1st negative week for the Dow and S&P in 4 weeks. For the NASDAQ is on a 2 week losing streak. The NASDAQ led the way to the downside this week with a -1.33% decline.
The final numbers for the day show:
- S&P index -20.03 points or -0.62% at 3215.63
- NASDAQ index -98.24 points or -0.94% at 10363.13
- Dow -182.44 points or -0.68% at 26469.89
For the week, the NASDAQ led the way to the downside:
- S&P index -0.28%
- NASDAQ index -1.33%
- Dow industrial average -0.76%
Year to date, the S&P index turned back negative on the year:
- S&P index -0.47%
- NASDAQ index +15.5%
- Dow industrial average -7.25%
For the last year:
- S&P index +6.49%
- NASDAQ index +24.53%
- Dow -2.93%