[Market Commentary] U.S. stocks strong! Inflation concerns retreat Shift toward economic recovery and COVID-19 infections
Contributed on Monday, July 26, 2021⇒ This article's shelf life is until 13:00 on July 28.
■ The biggest concerns in traditional financial markets are the economy recovery and the number of COVID-19 cases. Inflation concerns have faded as yields declined.
■ The biggest concerns in the crypto asset industry are regulation; will Bitcoin recover to $60,000? (or drop below $20,000?)
Both Western and European/American stocks were steady. Notably, Google's stock price rose (+3.37% from the previous day). The Dow rose for the fourth consecutive day, while the Nasdaq and S&P 500 closed at record highs. Nikkei futures for after-hours also returned to the 28,200 range, so the stock market is set to open higher on this Monday after the holiday.
The U.S. 10-year Treasury yield, viewed on a daily basis, recovered from under 1.20% to 1.28%, signaling a bottom rebound. Crude oil recovered to the $72 range, approaching the recent high around $75. Grains saw corn fall again, testing early July lows. Natural gas remained firm.
In currencies, the euro and the pound edged up slightly. USD/JPY hovered in the mid-110s, indicating a mild yen weakness. In crypto assets, direction is unclear, but Bitcoin is gradually recovering from under $30,000, and Bitcoin-linked currencies are generally strong.
In the United States, earnings season is arriving, with the Federal Reserve's FOMC and the release of U.S. GDP (Q2) scheduled.
【Stocks with Trade Appeal】
NY Crude Oil, Natural Gas
DAX
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