Market wraps lower; major indexes dropped but S&P 500 continues its monthly win streak

Friday session ended with most stocks, including the three benchmark equities, pulling back due to traders being introduced with the lower-than-anticipated earnings results of heavy weight companies such as Amazon.
By: Synergy Capital Asset Management Limited
 
CENTRAL, Hong Kong - Aug. 12, 2021 - PRLog -- Despite this, all three major indexes closed higher for the month of July after being boosted by overwhelming Q2 earnings results of the majority of companies that posted earlier this month, along with the Fed's announcement that although progress have been made, it's still lacking therefore, leaving the current policies unchanged for the meantime.

S&P 500 closed 0.5% lower, but still eked out 2% gains for July, marking its sixth consecutive month of gains with a year-to-date gain of 17%. NASDAQ and the Dow also wrapped the month with gains of over 1% each.

Investors were digesting a lot of data released this week, including the higher-than-anticipated Q2 earnings report plus some solid data on the economy. The US GDP report that was released on Thursday which missed analyst expectations was taken positively as support to the Federal Reserve's decision.

Stock market and Treasuries' movement are summarized as follows:
  • NASDAQ Composite Index lost by 0.71% or 105.59 points and wrapped at 14,672.68.
  • The S&P 500 Index went down by 0.54% or 23.89 points closing at 4,395.26.
  • The Dow Jones Industrial Average moved lower with 0.42% or 149.06-point loss, to end at 34,935.47.
  • U.S. 5 Year Treasury yield dropped by 0.0430 basis points and now at 0.6920.
  • U.S. 10 Year Treasury yield decreased by 0.0450 basis points closing 1.2260.
  • U.S. 30 Year Treasury yield slid by 0.0260 basis point at 1.8950.
Under commodities precious metals and crude ended mixed so with global currencies. Listed down below are their exact prices as of July 30, 2021:
  • Gold moved down by $13.795 or 0.75% and is now at $1,814.18 per ounce.
  • Silver decreased by $0.02 or 0.08% to $25.4915 an ounce.
  • Western Texas Intermediate Crude is currently at $73.95 a barrel gaining 0.45%.
  • Brent Crude closed at $75.41 per barrel after increasing by 0.41%.
  • Euro / USD = -0.00185 (0.16%) = 1.18684
  • USD / Yen = +0.169 (0.15%) = 109.615
  • GBP / USD = -0.0059 (0.42%) = 1.3898
  • AUD / USD = -0.00503 (0.68%) = 0.73430
  • USD / CAD = +0.00286 (0.23%) = 1.24700
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