U.S. indices closed mixed on Thursday, with the Dow Jones Industrial Average closing at a record high. Shares in the Health Care Equipment & Services (+2.38%), Transportation (+1.17%) and Food & Staples Retailing (+0.98%) sectors traded higher while shares in the Pharmaceuticals, Biotechnology & Life Sciences (-1.89%), Real Estate (-1.21%) and Telecommunication Services (-0.48%) sectors were under pressure. On the economic data front, core CPI rose 2.1% YoY in June (vs. +2.0% expected and in May). Initial Jobless Claims fell to 209K in week ending July 6 (vs. 221K estimated) from 222K in the previous week. The S&P 500 (2,999.91) stays above its 20d moving average (2,946.62 – positive slope) and its 50d moving average (2,889.58 – positive slope).
European markets are expected to start on a flat note.
Foreign Exchange
The US dollar was bearish against all its major pairs with the exception of the CFH on Thursday. On the economic data front, the CPI increased by 0.1% MoM in June (estimated 0%) compared with a 0.1% increased in the previous month. Initial Jobless Claims reached 209K in week ending July 6 (estimated 221K) compared with 222K in the previous week. Finally, the Monthly Budget Statement reported a deficit of $8.5B in June (estimated $7.9B) compared with a $74.9B deficit in the previous month.
The Euro was mixed against all of its major pairs. In Europe, the German CPI index was 1.6% in June in final reading, as anticipated, after +1.4% in May.
The Australian dollar was bullish against all of its major pairs.
Commodities
After the close of Wall Street, WTI Crude Future (AUG 19) was about flat to $60.42. The contract was above its 20D MA (@ $56.98) and above its 50D MA (@ $58.13).
Gold was down $15.1 to $1403.9. The precious metal was above its 20D MA (@ $1395) and above its 50D MA (@ $1338).
Copper Future (SEP 19) on Comex was about flat to 268.8c/lb. The contract was above its 20D MA (@ 268.41c) and below its 50D MA (@ 270.28c). In Europe, the London Metal Exchange reported its copper inventories decreased 3525 tons to 290000 tons.