Account
New to ADSS? Open an
account now to get started.
Already have an account?
Add funds to your ADSS account
Account
New to ADSS? Open an
account now to get started.
Add funds to your ADSS account
News
Thursday, July 16, 2026
What’s happening: The Dow Jones index closed higher on Wednesday following the release of US inflation data.
What happened: Data released on Wednesday showed cooler-than-expected inflation in the US.
A strong start to the second-quarter earnings season also provided a boost to overall market sentiment.
Why it matters: While US stock indices largely moved higher on Wednesday, weakness in semiconductor stocks weighed on the Nasdaq 100.
Upbeat earnings season continued Wednesday, lending support to market sentiment. Both BlackRock and Morgan Stanley reported better-than-expected profits for the latest quarter. Analysts on average expect second-quarter S&P 500 earnings to surge almost 24% year-over-year.
Shares of PayPal jumped more than 17% on Wednesday after Stripe and Advent International offered to acquire the company for $60.50 per share.
Communication services and consumer discretionary stocks were among the top performers, while utility and energy stocks recorded declines.
The Labor Department’s PPI (Producer Price Index) data released on Wednesday showed cooler-than-expected inflation, easing speculations of the Federal Reserve hiking interest rates.
US producer prices fell 0.3% in June, following 0.6% growth in May. The figure was below market forecasts of a flat reading. Core producer prices, excluding food and energy goods, gained 0.2% in June, compared to market estimates of a 0.4% rise.
The latest inflation data was for June, a time when investors were gaining confidence in the US and Iran signing a peace deal. That optimism has been hit by the recent escalation in tensions, which kept the stock rally in check.
The Dow Jones index rose 150.91 points, or 0.29%, to close at 52,659.18, while the S&P 500 added 0.38% to reach 7,572.42. While the Nasdaq Composite gained 0.62% to 26,269.23, the Nasdaq 100 declined 0.28% to settle at 29,502.60 on Wednesday.
What to watch: Investors will keep an eye on escalating tensions between the US and Iran.
Data on retail sales (1630 UAE Time), initial jobless claims (1630 UAE Time) and pending home sales (1800 UAE Time) from the US will be released today. Retail sales in the US, which surged 0.9% in May, are expected to rise by 0.2% in June. The number of people claiming unemployment benefits, which declined by 2,000 to 215,000 in the week to July 4, is expected to rise to 217,000 in the latest week. Analysts expect US pending home sales to decline 0.5% in June following a 3.8% gain in May.
Context: The Canadian dollar slipped against the US dollar this morning as investors assessed the Bank of Canada’s interest rate decision.
Details: The Bank of Canada kept its key policy rate unchanged at 2.25% for the sixth straight meeting in July, in-line with market estimates.
The latest projections showed Canada’s GDP growth easing to 2.75% in 2026 and rebounding to 3.25% next year.
Data released on Wednesday showed that Canada’s manufacturing sales climbed 1.3% to a record C$78.1 billion in May, following a 4.2% surge in April. The figure also topped market estimates of a 1.1% gain.
Wholesale sales in Canada came in unchanged at C$90.0 billion in May, versus a 1.4% surge in the previous month. Wholesale sales remaining flat was better than the preliminary reading of a 0.7% decline.
Strength in the US dollar weighed on the Canadian currency. The US dollar index, which measures the greenback’s performance versus a basket of major peers, gained around 0.1% to 100.54 this morning.
Lower prices of crude oil, one of Canada’s major exports, also exerted further pressure on the loonie. Spot price of WTI crude oil fell more than 0.2% to $79.58 per barrel this morning.
The USD/CAD forex pair rose around 0.1% to 1.4054 this morning.
What to watch: Investors will keep an eye on rising tensions between the US and Iran.
Data on Canada’s housing starts (1615 UAE Time) will be released today. Housing starts in Canada, which declined 6.1% to an annual rate of 261,400 in May, are expected to fall further to 258,000 in June.
Other Markets: European indices closed mixed on Wednesday, with the FTSE 100 and DAX 40 down by 0.13% and 0.59%, respectively, and the CAC 40 and STOXX Europe 600 Index up by 0.19% and 0.10%, respectively.
Russia announced major attacks across Ukraine after Kyiv’s drones hit 20 Russian vessels in the Black Sea. The news sent the USD/RUB pair lower in forex trading this morning.
India’s passenger vehicle sales jumped 18.2% year-over-year in June. However, this being a deceleration from the previous month’s 25.3% growth lent support to the USD/INR forex pair.
The Bank of Korea increased its base rate by 25 basis points to 2.75% at its recent meeting, in-line with estimates, which sent the USD/KRW pair slightly higher in forex trading this morning.
Colombia’s real retail sales grew by 11.7% year-over-year in May, slowing from a 14.9% surge in the previous month, which lent support to the USD/COP forex pair.
Sri Lanka’s manufacturing PMI eased to 53.0 in June from 56.6 in May. Manufacturing activity remaining in the expansion zone sent the USD/LKR pair lower in forex trading this morning.
Italy’s inflation rate (1200 UAE Time) and balance of trade (1300 UAE Time), Turkey’s budget balance (1200 UAE Time), Eurozone’s balance of trade (1300 UAE Time), Brazil’s retail sales (1600 UAE Time) as well as US Philadelphia Fed manufacturing index (1630 UAE Time), continuing jobless claims (1630 UAE Time), NY Fed services activity index (1630 UAE Time), business inventories (1800 UAE Time), NAHB housing market index (1800 UAE Time) and EIA natural gas stocks change (1830 UAE Time).
ADSS
8th floor, CI Tower
Corniche Road
PO Box 93894
Abu Dhabi
United Arab Emirates
Trading Services
ts@adss.com
+971 2 657 2414
Investing in CFDs involves a high degree of risk that you will lose your money due to the use of leverage, particularly in fast moving markets, where a relatively small movement in the price can lead to a proportionately larger movement in the value of your investment. This can result in loses that exceed the funds in your account. You should consider whether you understand how CFDs work and you should seek independent advice if necessary.
ADS Securities L.L.C – S.P.C (“ADSS”), a limited liability company – sole proprietorship company incorporated under United Arab Emirates law. Registered under Commercial License No.1190047. ADS Securities L.L.C S.P.C is regulated and authorised in the UAE by the Capital Market Authority (CMA) under Category 1 License No.305027 (Trading Broker, Trading and Clearing Broker, Trading Broker in the International Markets, Trading Broker of OTC Derivatives and Currencies in the Spot Market, Financial Products Dealer) and Category 5 License No.20200000217 (Introduction). Registered Office: 8th Floor, CI Tower, Corniche Road, P.O. Box 93894, Abu Dhabi, United Arab Emirates.
The information presented is not directed at residents of any particular country outside the United Arab Emirates and is not intended for distribution to, or use by, any person in any country where the distribution or use is contrary to local law or regulation.
ADSS is an execution only service provider and does not provide advice. ADSS may publish general market commentary from time to time. Where it does, the material published does not constitute advice, or a solicitation, or a recommendation to a transaction in any financial instrument. ADSS accepts no responsibility for any use of the content presented and any consequences of that use. No representation or warranty is given as to the completeness of this information. Anyone acting on the information provided does so at their own risk.
