Jul 14, 2022 | Blog
Commodities & Agriculture:
• Brent crude futures (UKOIL) for September were down $2.14 to $97.43 a barrel at 10:38 GMT after settling below $100 for a second straight session on Wednesday.
• U.S. West Texas Intermediate crude (USOIL) for August delivery was at $93.78 a barrel, down $2.52.
• Gold futures fell -0.41% to $1,728.35 by 12:16 AM ET (4:16 AM GMT). The dollar, which normally moves inversely to gold, jumped on Thursday morning.
Forex:
• The dollar strengthened more than 1% against the yen (USDJPY), pushing it above 139 yen per dollar for the first time since 1998. It was last up 1.1% at 138.92 yen.
• The euro (EUR) fell as much as -0.5% on the day and was last down 0.4% at $1.00215.
• Sterling (GBP) slipped 0.4% to $1.18505, as concerns about prospects for the British economy dominated despite data on Wednesday showing output unexpectedly grew in May.
During Market hours Yesterday — (Wednesday – 13.07.2022)
• The Dow (Symbol: DIA) went down -0.72%. The S&P 500 (Symbol: SPY) lost -0.53% and the Nasdaq (Symbol: QQQ) dropped -0.21%.
• Unity Software (Symbol: U) — Shares tumbled -17.5% after the interactive software company announced a merger agreement with app software company ironSource in a $4.4 billion all-stock transaction. Unity also cut its full-year revenue guidance. Shares of ironSource soared 47.1% on the news.
• Twitter (Symbol: TWTR) — Shares of the social media company climbed +7.9% after the firm filed suit against Elon Musk after he terminated his $44 billion deal to buy the company. Twitter said that Musk’s conduct during his pursuit of the social network amounted to “
• Delta Air Lines (Symbol: DAL) — Shares of Delta Air Lines dropped -4.5% following a mixed earnings report. Other airline stocks dropped. Shares of American Airlines also declined 3.1%, and Alaska Air Group fell 1.3%.
• Gap (Symbol: GPS) — Shares of the retailer dropped -0.2% on the heels of a downgrade to hold from buy at Deutsche Bank. The firm cited execution issues at the company, the increased promotional environment of retail and the departure of CEO Sonia Syngal as reasons for the downgrade.
• Advanced Micro Devices (Symbol: AMD) — Several chip stocks outperformed on Wednesday. Among which Advanced Micro Devices jumped +1.5%.
During Premarket hours today (Thursday – 14.07.2022)
• JPMorgan Chase (Symbol: JPM) — JPMorgan Chase was down -2.9% in premarket trading after falling 12 cents shy of estimates with a quarterly profit of $2.76 per share. It also announced it was temporarily suspending share buybacks. CEO Jamie Dimon said inflation, waning consumer confidence and other factors were likely to have a negative effect on the global economy.
• Morgan Stanley (Symbol: MS) — Morgan Stanley reported quarterly earnings of $1.39 per share, 14 cents shy of consensus estimates, with the investment bank’s revenue also falling short. The bank saw weaker investment banking activity during the quarter, although it said results in equity and fixed income were strong. Morgan Stanley lost -2.6% in the premarket.
• Taiwan Semiconductor (Symbol: TSM) — The chip maker’s stock rose +1.5% in the premarket after second-quarter earnings beat analyst estimates. Taiwan Semi also raised its revenue forecast for the year. Results got a boost from strong markets for automotive and IoT chips.
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