Markets roar to new highs on rosy earnings - Thursday Review, July 29

Markets roar to new highs on rosy earnings - Thursday Review, July 29

Despite being expected, Fed’s decision has an impact over the global markets

The US

Wall Street ended higher helped by strong company earnings and solid economic growth data. However, Fed’s decision to keep the rates unchanged pinned the dollar at a one-month low. USA30 and USA500 each closed 0.4% up. TECH100 added 0.3%.

Crude oil rose 1.64% to $73.58 per barrel.

Gold rose 0.9% to $1,816.55 per ounce.

The Dollar Index fell 0.38% to 91.898, a level reached on June 29.

Asia and Australia

Stocks jumped after China took action to calm recent market turbulence. Moreover, the US Federal Reserve announced that more economic progress was needed before it starts asset tampering. Japan225 was up 0.48%.

HongKong45 jumped 2.11%.

Down under, Australia200 was up 0.38% as investors expect the country’s central bank to delay its planned asset tapering as it hands down its policy decision next week.

Europe

The second-quarter corporate earnings season has been largely positive in Europe as companies took advantage of the gradual removal of COVID-19 restrictions as vaccination programs kicked in. Germany30 traded 0.2% higher, and France40 rose 0.8%. UK100 climbed 0.5%.

Brent oil was up 1.77% to $76.06 a barrel.

EUR/USD traded 0.2% at 1.869.

Sources: investing.com, reuters.com

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