Markets focused on the implications of the disagreement in OPEC+ talks - Tuesday Review, July 6

Markets focused on the implications of the disagreement in OPEC+ talks - Tuesday Review, July 6

The UK food sector and US tech stocks were also among the highlights

The US

Wall Street returned to action after the Independence Day holiday, with financials and other groups closely tied to economic growth leading the declines. On the other hand, the tech-driven index edged higher to another closing record. USA30 fell 0.6%, and USA500 lost 0.20%. TECH100 added 0.17%.

Crude oil traded 2.3% higher at $76.87 per barrel.

Gold rose 1.3% to $1,806.45 per ounce.

Asia and Australia

Markets mainly were up alongside soaring oil prices, even as investors digested the dissensions between OPEC+ members. Japan225 was up 0.34%.

HongKong45 traded 0.17% lower.

Down under, Australia200 edged up 0.18% ahead of the Reserve Bank of Australia’s policy decision. The bank was expected to start withdrawing some stimulus measures.

Europe

Stocks mainly slipped lower as investors focused on the rising oil prices. However, the UK food retailer sector remained in the spotlight, with Ocado announcing a 20% rise in revenue for the first half of the year. Germany30 traded 0.4% lower, while France40 fell 0.3%. UK100 outperformed, adding 0.1%.

Brent oil rose 0.7% to $77.71 a barrel.

EUR/USD traded at 1.1882 after gaining 0.2%.

Sources: investing.com, reuters.com

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