Major European indices moved and closed lower on the day. The declines were led by German DAX and France CAC.. Germany’s flash services and manufacturing indices were lower than expectations. France’s manufacturing index was lower while its service index did move back above the 50 level after dipping below the key growth/no growth 50 level last month.
The final numbers showed:
- German DAX -0.92%
- France CAC, -1.12%
- UK FTSE 100 -0.17%
- Spain’s Ibex -0.02%
- Italy’s FTSE MIB -0.48%
US stocks have fared worse in trading today. Currently,
- Dow Industrial Average average, -0.76%
- S&P index -1.7%
- NASDAQ index -2.8%
The small-cap Russell 2000 is faring better than all them with a decline of only -0.25%.
After earnings yesterday:
- Alphabet shares are down -4.82% despite beating on the top and bottom line. Revenues from YouTube or lesson expectations.
- Tesla based on their expectations and is currently trading down -10.10%.
Other Magnificent 7 shares are also lower:
- Meta Platforms -4.12%. It’s stop tried to rise back above its 100 day moving average yesterday at $490.93, but has gapped lower and currently trades at $468.22
- Amazon -2.53%
- Nvidia -5.4% despite Alphabet saying there investment in capital was rising due to AI initiatives (including chips)
- Apple -2.88%
- Microsoft -3.40%.
Microsoft, Meta Platforms, Amazon, and Apple are all scheduled to release earnings next week:
- Microsoft, July 31
- Meta Platforms, July 31
- Amazon, August 1
- Apple, August 1
Nvidia does not release their earnings until mid August:
- Nvidia, August 15
This article was written by Greg Michalowski at www.forexlive.com.
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