Market Update

Eurozone’s Retail Sales fell by 1.2% MoM in June versus 0.0% expected and 0.4% last, the official figures released by Eurostat showed on Wednesday. On an annualized basis, the bloc’s Retail Sales came in at -3.7% in June versus 0.4% recorded in May and -1.7% estimated. Separately, Eurozone’s Producer Price …

European shares fell in early trading on Wednesday, ahead of key business growth data, as broader markets awaited the potential fallout from US House Speaker Nancy Pelosi’s visit to Taiwan. The pan-European Stoxx 600 index was down 0.2 percent by 7:10 GMT. Investors are awaiting important data on business and …

Japan’s Nikkei index closed higher on Wednesday, recovering from the previous session’s losses, as investors turned to Daikin Industries and other companies that posted solid gains. The Nikkei index rose 0.53 percent to 27,741.90 points, falling 1.42 percent on Tuesday, its biggest daily loss in three weeks. The broader Topix …

Starbucks on Tuesday reported better-than-expected quarterly earnings and revenue, despite lockdowns in China Here’s what the company reported for the quarter ended July 3 compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv: Here’s what the company reported for the quarter ended July 3 …

Risk-aversion came back benefitting the US dollar that is widely considered as a safe haven. US-Sino tensions arose on the arrival of US House Speaker Nancy Pelosi to Taiwan. Pelosi supports the local government against China’s will.Crude oil prices, on the other hand, recovered some ground and the barrel of …

Robinhood will reduce its headcount by approximately 23%. The American financial services company, headquartered in California, also dropped its earnings report for the second quarter, which showed a decline in monthly active users and assets under custody. Robinhood CEO Vlad Tenev said, on Tuesday, “deterioration of the macro environment, with …

Starbucks on Tuesday reported better-than-expected quarterly earnings and revenue, despite lockdowns in China weighing on its performance.Shares of Starbucks have fallen 27% this year, dragging its market value down to $98.37 billion. The coffee giant suspended its fiscal 2022 outlook last quarter, citing the uncertainty caused by Covid lockdowns in …

US stocks that traded heavily or had substantial price changes, on Tuesday, include Caterpillar, down $11.35 to $183.51. The construction equipment maker’s second-quarter revenue fell short of Wall Street forecasts. Uber Technologies’ stock was up $4.65 to $29.25. The ride-application-based company reported surprisingly strong second-quarter revenue.BP PLC stock was up …

A risk-off impulse keeps safe-haven peers rising, as geopolitical US-China frays keep traders more cautious. At the time of writing, the EUR/GBP is trading at 0.8350.The EUR/GBP pair is still maintaining a kind of defensive stance as sellers eye a break below 0.8346. The RSI in the EUR/GBP daily chart …

At the time of writing, gold trades at $1767.5 per ounce. Gold has been back under pressure as US yields spike, but bulls are eying the $1800 level. There is room for further upside with the 68.2% Fibonacci meeting prior weekly structure around $1,800. Markets are cautious over US-China row …