Commodities & Agriculture:
- Brent crude (UKOIL) futures were down $1.42, or -1.4%, at $102.55 a barrel by 1017 GMT.
- U.S. West Texas (USOIL) Intermediate crude was down $1.85, or -1.9%, at $96.77.
- Gold gold futures rose +0.4% to $1,788.60/oz
- The Dollar Index, which tracks the greenback against a basket of six other currencies, traded -0.2% lower to 105.535, after falling as low as 105.490, a level not seen since July 5.
- USD/JPY fell -0.8% to 132.12, just above the fresh six-week low seen earlier in the session, with the Japanese yen the prime beneficiary of the lower U.S
- EUR/USD rose +0.1% to 1.0230, benefiting from the dollar weakness, but gains are tenuous after German retail sales suffered their sharpest annual fall in decades in June.
During Market hours Friday — (Friday – 29.07.2022):
- The Dow (Symbol: DIA) went up +1.04%. The S&P 500 (Symbol: SPY) gained +1.46% and the Nasdaq (Symbol: QQQ) jumped +1.82%.
- Amazon (Symbol: AMZN) — Shares of the e-commerce giant jumped +10.4%, giving the broader market a boost, after the company reported better-than-expected second-quarter revenue and issued an optimistic outlook. Revenue growth of 7% in the second quarter topped estimates, bucking the trend among its Big Tech peers.
- Roku (Symbol: ROKU) — Roku shares plummeted -23.1% after the streaming company reported disappointing results for the second quarter, as it faces a slowdown in advertising. The company shared disappointing guidance for the current quarter, noting that dwindling ad spending and recessionary fears could continue to impact its business going forward.
- Apple (Symbol: AAPL) — Shares of Apple rose +3.3% after the company beat Wall Street profit and revenue forecasts, and CEO Tim Cook said he expects growth to accelerate despite “pockets of softness.” Sales of its iPhone saw double-digit growth in new customers.
- First Solar (Symbol: FSLR) — Shares of First Solar surged +12.1% after the company reported better-than-expected earnings for the second quarter. Oppenheimer also upgraded the stock to outperform from neutral on Friday citing a deal reached between Sen. Joe Manchin, D-W.V. and Senate Majority Leader Chuck Schumer, D-N.Y., on a bill that includes climate spending.
- Chevron (Symbol: CVX), Exxon Mobil (Symbol: XOM) — The energy stocks jumped on the back of record profits reported in their second-quarter earnings, boosted by higher oil and gas prices. Chevron jumped +8.9%, and Exxon Mobil added +4.6%.
- Intel (Symbol: INTC) — Shares of the chipmaker tumbled -8.6% after a second-quarter report that came in well short of expectations. Intel reported 29 cents in adjusted earnings per share on $15.32 billion of revenue. Analysts surveyed by Refinitiv had penciled in 70 cents in earnings per share on $17.92 billion of revenue. Third-quarter guidance also came in below expectations. Susquehanna downgraded the stock to negative from neutral, warning that free cash flow could be “significantly depressed for at least the next few years.”
During Premarket hours today – (Monday – 01.08.2022):
- Boeing (Symbol: BA) – Boeing defense workers will vote on a new proposed labor agreement on Wednesday, averting – for now – a strike that could have begun today. Separately, sources tell CNBC the Federal Aviation Administration has approved inspection protocol revisions that should allow the jet maker to resume deliveries of its 787 Dreamliner. Boeing shares jumped +5.4% in the premarket.
- Nio (Symbol: NIO) – Nio rallied +3% in premarket action after the China-based electric car maker announced that it will open its first overseas plant in Europe in September. The plant will be located in Hungary and will make power products for the European market.
- Check Point Software (Symbol: CHKP) – Check Point Software reported better-than-expected revenue and profit for its latest quarter, boosted by a surge in demand for its cybersecurity products amid a worldwide increase in cyberattacks. The stock dipped -4.7% in premarket trading.
- Alibaba (Symbol: BABA) – Alibaba gained +1.6% in the premarket after saying it intended to work to keep its New York Stock Exchange listing. The Chinese e-commerce giant is on a list of companies that could be removed for not meeting auditing requirements.
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