Financial Markets Daily Report13 July 2021
The S&P 500 Index closed at another record high as investors looked to a highly anticipated second-quarter earnings season, which will start today with Goldman Sachs, JPMorgan Chase & Co. and PepsiCo Inc. European equities hit a record high with investors rotating out of cyclical sectors and into more defensive.
- The S&P 500 Index closed at another record high as investors looked to a highly anticipated second-quarter earnings season, which will start today with Goldman Sachs, JPMorgan Chase & Co. and PepsiCo Inc. European equities hit a record high with investors rotating out of cyclical sectors and into more defensive.
- U.S. Treasuries 10Y yields stabilized around 1.37% after jumping seven basis points on Friday. The ECB bought a net 24.047 billion euros of assets last week, above the 13.718 billion euros it purchased a week earlier.
- The dollar climbed across the board as concerns about the pandemic encouraged investors to seek a safe haven.
- Oil rose for the third time in four days as traders grappled with the demand implications of a Covid-19 resurgence in several regions and slowing economic growth in China.
- On the calendar, the focus is on the CPI for June in the US.