Monday: The People's Bank of
China announced its decision to inject liquidity into the Chinese financial
system. HongKong45
gained 1.30%.
In the US, Tesla and Nvidia boosted
the tech sector, and TECH100
added 1%.
The European markets were pushed by
the positive data from China and ended on the positive territory: UK100 rose 0.3%, while France40 added 0.3%.
Japan reported the most significant
quarterly economic contraction since 1980. The country's GDP fell 7.8% due to
the pandemic. On an annualized
basis, the GDP contracted 27.8%. Following the report, Japan225 fell by 0.8%.
Singapore, one of the most affected
Asian countries by the pandemic, released another stimulus package – the fifth
one. Singapore's economy contracted on a seasonally adjusted basis by 42.9%.
Citigroup, Revlon, and
various lenders are suing each other over a $900 million payment made by
mistake by the bank. The lenders don't want to return the money, as the lawsuit
is against the bank. Following the news, Citigroup's stock price fell 0.68%.
Tuesday: The American
benchmarks closed the day at records unseen since February: TECH100 was up
0.73%, and USA500
gained 0.22%.
Down under, Australia200 gained
0.55% after Victoria state reported the lowest daily increase of COVID-19
infections in a month.
Oracle
is the new kid on the block who wants to buy TikTok. The company is in
preliminary talks to buy TikTok's operations in Australia, New Zealand, Canada,
and the US. Following the announcement, Oracle stock price added roughly 4%.
Toyota
and Amazon teamed up to
develop cloud-connected vehicles. The cars sold in the US, China, and Japan by
the end of 2020 will come with installed communication modules. Toyota is
looking to create self-driving cars and wants to develop connected vehicles
ahead of the 5G globalization.
Walmart impressed
Wall Street as it posted higher-than-expected Q2 earnings. The store chain's
revenue figures came in at $137.74 billion. Analysts were looking for $135.57
billion.
Wednesday: The Federal Reserve meeting minutes showed
that the economic recovery is nowhere near as investors expected. Gold lost 1.1% to $1,943.27.
The British retailer Marks & Spencer
announced that it plans to cut 3% of its workforce of 78,000 people to cope
with the pandemic's effects. Year-to-date, M&S stocks lost 47%.
HomeDepot posted revenues of $38.1 billion, a 24.75% increase from the same
time last year. Following the report, the company's stock price added 0.64%.
Thursday: The American chipmaker, Nvidia, posted revenues
of $3.87 billion. Its data business center had an increase of 167% to $1.75
billion – marking the first time when this segment's revenues topped the gaming
division's revenue. After the report, Nvidia stock price traded higher by
0.83%.
Target
reported an increase of 80.3% in profit to $1.7 billion, as the pandemic pushed
people to online shopping. The retailer had revenues of $23 billion. The
adjusted EPS was $3.38, from $1.62 per share expected.
The Department of Labor posted worse-than-expected
unemployment claims. The weekly data showed that 1.106 million people filed for
unemployment benefits, just one week after the number dropped under 1 million.
Friday: Alibaba posted revenues
of $21.76 billion, a 34% increase from last year's figures. In Q2 had a net
profit of $3.74 billion. In Q2, the retailer's stock price went up 20%.
President Trump called for a Goodyear boycott, as
the tire-maker forbade workers from wearing "Make America Great Again"
hats and t-shirts supporting "Blue Lives Matter." However, according
to the company, it is a longtime supporter of equal justice and law
enforcement, as it provided tires to police vehicles for more than 100 years.
EstéeLauder, the American beauty brand, had Q2 net losses of $462 million. The
company's sales figures came in at $2.43 billion. Since the beginning of the
year, Estée Lauder's share price has added 3%.
Sources: marketwatch.com, investing.com, forexfactory.com,
finance.yahoo.com
