FXEMPIRE
All
Ad
Advertisement
Advertisement
David Becker
Add to Bookmarks

US stocks moved higher on Friday driven by gains in the Dow Industrials. The financials led the way. Most sectors were higher, technology bucked the trend. News before the opening bell that Gilead’s drug Remdesivir, which is a coronavirus treatment, reduces the risk of death in severely sick patients by nearly 60%. The US treasury note yield slumped to 57-basis points before rebounding into the close to settle above 60-basis points. New coronavirus cases in the U.S. rose by more than 63,000, another single-day record, as hospitals in Texas, California and other states strain to accommodate a surge of new patients. US producer prices came out weaker than expected with core intermediate goods looking the index lower. Next week the earnings season will kick off with the large US banks. JP Morgan is scheduled to release Q2 earnings before the opening bell on Tuesday.

Amazon Say Employees Must Remove Tick Tok

Amazon.com is now requiring its hundreds of thousands of employees to remove the TikTok app from mobile devices. Amazon said in a staff memo Friday that employees must delete TikTok by Friday to be able to continue accessing their email from their phones.

Advertisement
Know where the Market is headed? Take advantage now with 

Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us. Raw Spread accounts offer spreads from 0.0 pips with a commission charge of USD $3.50 per 100k traded. Standard account offer spreads from 1 pips with no additional commission charges. Spreads on CFD indices start at 0.4 points. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

Advertisement

Producer Prices Fall More than Expected

The US producer price index (PPI) dropped 0.2% last month after rebounding 0.4% in May. Year over year through the 12-months ending June, the PPI declined 0.8%, matching May’s decrease. Expectations were for a 0.4% rise in June and a 0.2% fall in May. Excluding the volatile food, energy producers’ prices rose by 0.3% in June. The core PPI dropped 0.4% on a year-on-year basis in May, which was the largest annual decrease since 2013.

Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Trade With A Regulated Broker