Nasdaq Edges Higher; ISM Services PMI Falls In July

U.S. stocks were mixed midway through trading, with the Nasdaq Composite edging higher on Thursday.

The Dow traded down 0.10% to 35,245.80 while the NASDAQ rose 0.02% to 13,976.60. The S&P 500, also fell, dropping, 0.19% to 4,504.90.

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Leading and Lagging Sectors

  • Energy shares rose by 1.4% on Thursday.
  • In trading on Thursday, real estate shares dipped by 2.6%.

 

Top Headline

The ISM services PMI declined to 52.7 in July from 53.9 in June, versus market expectations of 53.

 

Equities Trading UP

 

Equities Trading DOWN

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Commodities

In commodity news, oil traded up 2% to $81.05 while gold traded down 0.1% at $1,974.20.

Silver traded down 0.4% to $23.78 on Thursday while copper rose 1.2% to $3.8880.

 

Euro zone

European shares were lower today. The eurozone’s STOXX 600 fell 0.80%, London’s FTSE 100 fell 0.60% while Spain’s IBEX 35 Index fell 0.41% The German DAX declined 1.05% French CAC 40 fell 0.97% and Italy’s FTSE MIB Index declined 1.16%.

Producer prices in the Eurozone declined 0.4% month-over-month in June, moving lower for the sixth consecutive month. Producer prices, meanwhile, fell by 3.4% year-over-year in June. The HCOB Eurozone services PMI was revised downward to 50.9 in July versus a preliminary reading of 51.1.

The S&P Global France services PMI fell to 47.1 in July from 48 in June, while UK services PMI fell to 51.5 in July from 53.7 in June. German services PMI rose to 52.3 in July from a preliminary level of 52, while Spain services PMI declined to 52.8 in July from 53.4 in the prior month.

 

Asia Pacific Markets

Asian markets closed mostly lower on Thursday, with Japan’s Nikkei 225 falling 1.68%, China’s Shanghai Composite Index gaining 0.58% and Hong Kong’s Hang Seng Index falling 0.49%. India’s S&P BSE Sensex, meanwhile, fell 0.8%.

The S&P Global Indian services PMI climbed to 62.3 in July from June's reading of 58.5. The Caixin China General services PMI increased to 54.1 in July from 53.9 in June. The au Jibun Bank Japan services PMI fell to 53.8 in July from a final reading of 54.0 in June, while S&P Global Hong Kong SAR PMI fell to 49.4 in July from 50.3 a month ago.

Australia's trade surplus increased to a three-month high of AUD 11.32 billion in June, while retail sales fell by 0.8% month-over-month in June. The Judo Bank Australia services PMI slipped to 47.9 in July from 50.3 in the prior month.

 

Economics

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COVID-19 Update

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 107,538,610 cases with around 1,169,980 deaths. India confirmed a total of at least 44,995,660 cases and 531,910 deaths, while France reported over 40,138,560 COVID-19 cases with 167,640 deaths. In total, there were at least 692,576,570 cases of COVID-19 worldwide with more than 6,903,970 deaths.

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