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Stock market highlights for today, July 8, 2024 "Markets mostly flat, Nvidia moving up again"
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U.S. Markets 🇺🇸
- 📈 Major Indices Performance:
- S&P 500: 0.2% in morning trading, continuing record highs from last week.
- Dow Jones: 0.17%, closing at 39,375.87.
- Nasdaq Composite: 0.9%, closing at 18,352.76.
- 📉 Market Movements:
- Futures: Little changed; bond yields rise.
- 🛢️ Commodities:
- WTI Crude Oil: $82.96 per barrel.
- Brent Crude: $86.47 per barrel.
- 📈 Treasury Yields:
- U.S. 10-year Treasury Yield: 4.27%.
- U.S. 2-year Treasury Yield: 4.60%.
European Markets 🇪🇺
- 📈 Market Opening:
- European stocks rose; CAC 40 index up 0.4%.
- 📉 Currency Movements:
- Euro weakened following French election results.
Asia-Pacific Markets 🌏
- 📉 Market Performance:
- Japan Nikkei: -0.17%.
- Japan Topix: -0.47%.
- Hong Kong Hang Seng: -2.06%.
- China Shanghai Composite: -0.26%.
- South Korea Kospi: -0.07%.
- Australia S&P/ASX 200: -0.4%.
Indian Markets 🇮🇳
- 📉 Indices Performance:
- Sensex: -36 points, closing at 79,960.
- Nifty 50: Flat, closing at 24,321.
- 📉 Market Movements:
- GIFT Nifty futures: Down 25.5 points, indicating a negative start.
- 📊 Top Stocks to Watch:
- NLC India: Secured rights to develop Machhakata coal mine.
- IndusInd Bank: Net advances up 16% YoY; deposits up 15% YoY.
- Bank of Baroda: Global business up 8.52% YoY.
- JM Financial: Acquired stakes in JM Financial Credit Solutions and Asset Reconstruction Company.
- Titan: Reported 9% growth in standalone business YoY.
- Marico: Achieved double-digit growth in international business.
- 📉 Currency Market:
- Indian Rupee: Weaker at 83.4375 against the U.S. Dollar.
Corporate Highlights 🏢
- 🚗 Tata Motors: Jaguar Land Rover reported a 5% YoY growth in wholesales.
- 💻 Infosys: Hemant Lamba resigned as Executive Vice President and Global Head – Strategic Sales.
Economic Reports 📅
- 📊 U.S. Job Market:
- 206,000 jobs added in June.
- Unemployment rate: 4.1%.
- Average hourly wages: 3.9% YoY.
- 📊 Fixed Income:
- New 10-Year Benchmark GOI 7.10 2034: Traded between 6.98% - 7.02%.
- Old 10-Year Benchmark GOI 7.18 2033: Traded between 7.02% - 7.06%.
Global Sentiment 🌍
- 📉 Mixed Global Cues:
- Positive sentiment in European markets.
- Mixed performance in Asia-Pacific markets.
- U.S. markets showing modest gains.
Key Events 📅
- 🗣️ Federal Reserve: Chair Jerome Powell to testify this week.
- 🗳️ Political: French parliamentary election results impacting market sentiment.
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