Commodity and tech stocks jumped to new records - Wednesday Review, July 7

Commodity and tech stocks jumped to new records - Wednesday Review, July 7

Traders are cautious as the new COVID-19 variant threatens the economic recovery

The US

Wall Street mainly notched two record highs after minutes from the Fed’s latest meeting largely confirmed market expectations. The officials revealed that progress on economic recovery was not met yet. USA30 rose 0.3%, and USA500 gained 0.34%. TECH100 added 0.01%.

Crude oil was down 1.69% at $72.13 per barrel.

Gold extended gains to a sixth session, rising 0.37% to $1,803.41 an ounce.

The Dollar Index traded 0.19% higher at 92.72.

Asia and Australia

Stocks were mostly down as investors are concerned about the economic outlook and the spread of the COVID-19 Delta variant.

Japan255 fell 0.9%.

HongKong45 edged down 0.73%.

Down under, Australia200 gained 0.67% after the country’s Reserve Bank announced that it would keep interest rates unchanged at a record low of 0.1%.

Europe

Also, on the Old Continent, investors remained cautious about the strength of the global economic recovery and the threat of the Delta COVID-19 variant. However, the commodity-linked stocks recovered from the sharp falls reported in the previous sessions. Germany30 posted its best session in seven weeks as it gained 1.2%. France40 rose 0.31%.

Brent oil lost down 1.52% at $73.40 a barrel.

EUR/USD traded 0.1% higher at 1.1828.

Sources: investing.com, reuters.com

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