[Market Commentary] U.S. and European stocks rise; eyeing record highs; crypto assets stall
Contributed on July 8, 2021 (Thursday)⇒ This article expires on July 10 at 13:00.
■ The traditional financial market's biggest concern is the tapering discussion
■ The crypto industry’s biggest concern is developments after July 1, the Chinese Communist Party’s anniversary
European and American stocks rose. Germany's DAX index rose 1.17% from the previous day, positioning for a possible new high. U.S. stocks were modestly higher, but the Philadelphia Semiconductor Index fell 1.40% from the previous day, dragging on tech. Applied Materials, a U.S. company that manufactures graphics cards, fell 4.16%. On the other hand, Apple in the U.S. hit a new high. India's Nifty50 also remained generally on track despite concerns over the fourth wave of COVID. The U.S. 10-year Treasury yield fell to 1.31%, raising concern of a continued lower bound break.
[Source] Trading View U.S. 10-year treasury yield, daily chart
Crude oil retreated to the 72-dollar range, signaling a temporary cool-down in the sentiment trend. Natural gas followed a similar path. Corn saw notable declines, while wheat also moved lower. Currencies and cryptocurrencies did not show notable price movement.
【Stocks with trading appeal】
NY Crude oil, natural gas
Corn, wheat
DAX, India Nifty50
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