📈 Morning Brief | July 31
(edited)
🟢 Stocks rallied Thursday. Dow rose 1.2% to 52,208. S&P 500 climbed 1.7% to 7,438. Nasdaq jumped 2.8% to 25,122. Markets bounced back from the Fed day selloff.
🏦 Fed held rates at 3.5% to 3.75% in a 9-3 vote. Three officials dissented and wanted a hike. It's the first three way hawkish split since 2016.
📅 Microsoft, Meta, and Apple all reported this week. Microsoft and Meta beat big Wednesday night and jumped 16% and 11.5%. Apple beat on earnings Thursday night but guided soft on Q4 revenue, and the stock is falling today. Amazon also reported and jumped 11.7%. Treasury yields are climbing too. The 10 year yield is near 4.74%, the highest since January 2025.
🍏 Big 7 check: Amazon up sharply on earnings. Apple down on weak guidance. Microsoft and Meta still riding Wednesday's pop.
🥇 Gold: around $4,090 an ounce, holding near record highs.
🥈 Silver: near $58 an ounce, choppy this morning.
🔥 Thermal coal: $134 a tonne, up almost 3% on China heat wave demand.
⛏️ Met coal: still elevated for the year, roughly in the $200 to $240 a tonne range. HCC trades at $83.65, AMR at $143.91.
🛢️ Transocean (RIG): around $5.05, up slightly.
Bottom line: Apple's soft guidance and rising yields could pressure stocks today after Thursday's big rally.
📈 Morning Brief | July 31
🟢 Stocks rallied Thursday. Dow rose 1.2% to 52,208. S&P 500 climbed 1.7% to 7,438. Nasdaq jumped 2.8% to 25,122. Markets bounced back from the Fed day selloff.
🏦 Fed held rates at 3.5% to 3.75% in a 9-3 vote. Three officials dissented and wanted a hike. It's the first three way hawkish split since 2016.
📅 Microsoft, Meta, and Apple all reported this week. Microsoft and Meta beat big Wednesday night and jumped 16% and 11.5%. Apple beat on earnings Thursday night but guided soft on Q4 revenue, and the stock is falling today. Amazon also reported and jumped 11.7%. Treasury yields are climbing too. The 10 year yield is near 4.74%, the highest since January 2025.
🍏 Big 7 check: Amazon up sharply on earnings. Apple down on weak guidance. Microsoft and Meta still riding Wednesday's pop.
🥇 Gold: around $4,090 an ounce, holding near record highs.
🥈 Silver: near $58 an ounce, choppy this morning.
🔥 Thermal coal: $134 a tonne, up almost 3% on China heat wave demand.
⛏️ Met coal: still elevated for the year, roughly in the $200 to $240 a tonne range. HCC trades at $83.65, AMR at $143.91.
🛢️ Transocean (RIG): around $5.05, up slightly.
Bottom line: Apple's soft guidance and rising yields could pressure stocks today after Thursday's big rally.
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