The S&P 500 and Nasdaq closed at all-time highs on Wednesday lifted by shares in the Semiconductors & Semiconductor Equipment (+2.84%), Telecommunication Services (+2.3%) and Banks (+1.25%) sectors. On the economic data front, the Markit U.S. Manufacturing PMI index dropped to 50.0 in July (estimated 51.0) from 50.6 in June. New Home Sales rose to an annualized rate of 646K in June (estimated 658K) from 604K in May. The S&P 500 (3,019.56) stays above its 20d moving average (2,982.54 – positive slope) and its 50d moving average (2,908.61 – positive slope).
European markets are expected to start on a positive note.<\/p>\n\n\n\n
Foreign Exchange<\/strong><\/p>\n\n\n\n The US dollar was mixed against all its major pairs on Wednesday. On the economic data front, the Markit US Manufacturing PMI index reached 50 in preliminary estimates in July (estimated 51) compared with 50.6 in the prior month. New Home Sales reached 646K in June (estimated 658K) vs. 604K in the prior month.
The Euro was bearish against all of its major pairs with the exception of the AUD. In Europe, the euro-zone PMI manufacturing index was down to 46.4 in July in first reading (47.7 expected) from 47.6 a month earlier. The PMI services index slightly decreased to 53.3, as anticipated, from 53.6 in June. Separately, the euro-zone M3 money supply growth was 4.5% in June YoY (4.6% expected) vs 4.8% in May.
The Australian dollar was bearish against all of its major pairs.<\/p>\n\n\n\n