Account

New to ADSS? Open an
account now to get started.

OR

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

Trends & Analysis
News

Crude falls for 4th straight day on demand woes

News

Nvidia’s stock surges past $1,000 on strong Q1

News

Will mighty Microsoft build on its 2024 gains?

News

USD gains amid Fed rate cut speculations

News

Is the silver squeeze back?

News

Li Auto’s stock hits a speedbump on Q1 results

Trends & Analysis
News

Crude falls for 4th straight day on demand woes

News

Nvidia’s stock surges past $1,000 on strong Q1

News

Will mighty Microsoft build on its 2024 gains?

News

USD gains amid Fed rate cut speculations

News

Is the silver squeeze back?

News

Li Auto’s stock hits a speedbump on Q1 results

News

US stocks settle mixed following PPI report

Monday, August 14, 2023

Today’s headlines

What’s happening: US stocks closed mixed on Friday, following the release of data on producer prices.

What happened: The Dow Jones index ended the day with gains, closing higher by more than 100 points.

However, the S&P 500 and Nasdaq 100 settled lower, with the tech-heavy index recording losses for two consecutive weeks for the first time in 2023.

Why it matters: The US government said the producer price index rose 0.8% year-over-year in July, compared to a 0.2% rise in the prior month, amid an increase in costs of services. The rise was still lower than projections of 0.7%.

On a monthly basis, US producer prices increased 0.3% in July, recording the biggest rise since January. The figure was also higher than market expectations of 0.2%.

The University of Michigan consumer sentiment fell to 71.2 in August, from 71.6 in the previous month, which was the strongest reading since October 2021 and exceeded market estimates of 71.

Although traders widely expect the Federal Reserve to keep interest rates unchanged for the rest of the year, the latest data releases sparked some speculations of rate hikes in September.

The semiconductor index fell around 2.3% on Friday, weighed by losses in Nvidia’s stock. The index recorded losses for the fourth straight session, falling 5% last week to notch its worst weekly performance since early April.

Amid the major S&P 500 sectors, healthcare and energy recorded gains on Friday. The rise in the energy sector was driven by an increase in crude oil prices amid expectations of tightening supplies.

The Dow Jones index gained 105.25 points, or 0.3%, to close at 35,281.40, while the S&P 500 declined 0.11% to 4,464.05 and the Nasdaq 100 lost 0.67% to settle at 15,028.07. The Dow Jones index ended the week up 0.6%, while the S&P 500 was down around 0.3% for the week.

What to watch: Traders await the release of consumer inflation expectations data from the US today. US consumer inflation expectations for the year ahead had declined for a third straight month to 3.8% in June, the lowest level since April. This is expected to remain unchanged in July.

The markets today

Bitcoin will be in focus today after the cryptocurrency hit $30,000 last week

Context: After several weeks of trading sideways, Bitcoin added around 1.5% to its market valuation over the past seven sessions.

Details: The cryptocurrency market had failed to record any major price movements in either direction over the past few weeks. However, prices remained highly volatile last week.

Bitcoin started the week with sharp losses following a quiet weekend but made steep gains later in the week, with US core inflation, UK GDP growth and China’s balance of trade all coming in better than expected.

The largest crypto by market capitalisation breached the key $30,000 resistance level on Wednesday, reaching its highest price since July 23, but quickly moved back to around $29,500.

Ethereum, the second-largest coin by market capitalisation, also added more than 1% last week, after PayPal announced plans to release an Ethereum-based dollar-denominated stablecoin known as PayPal USD.

What to watch: Investors will watch the global macroeconomic environment, which is expected to provide some direction to cryptocurrency prices ahead.

Other Markets: European indices closed lower on Friday, with the FTSE 100, DAX 40, CAC 40 and STOXX Europe 600 Index down by 1.24%, 1.03%, 1.26% and 1.09%, respectively.

The news shaping the markets

Ukraine pressured the German government to supply Kyiv with Taurus cruise missiles for its defence against Russia. The news sent the safe-haven US dollar index higher this morning.


Ireland’s BNP Paribas Real Estate Construction PMI declined sharply to 45.6 in July, from 50.4 in the previous month, exerting pressure on the EUR/USD forex pair.


Mexico’s industrial production rose by 3.7% year-over-year in June, slowing from a 3.9% surge a month ago, which sent the MXN/USD pair lower in forex trading this morning.


New Zealand’s BusinessNZ Performance of Services Index fell by 1.8 points to 47.8 in July, from 49.6 a month ago, exerting pressure on the NZD/USD forex pair.


Russia’s gross domestic product grew by 4.9% year-over-year in the second quarter, above market expectations of a 4.7% expansion, which sent the RUB/USD pair higher in forex trading this morning.

What else to watch today

Germany’s wholesale prices, India’s wholesale prices and consumer inflation rate, Brazil’s IBC-Br index of economic activity and Central Bank of Brazil focus market readout, Canada’s Senior Loan Officer Survey, as well as Turkey’s total motor vehicles production.


Site by Pink Green
© ADSS 2024


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 LLC (“ADSS”) is authorised and regulated by the Securities and Commodities Authority (“SCA”) in the United Arab Emirates as a trading broker for Over the Counter (“OTC”) Derivatives contracts and foreign exchange spot markets. ADSS is a limited liability company incorporated under United Arab Emirates law. The company is registered with the Department of Economic Development of Abu Dhabi (No. 1190047) and has its principal place of business at 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.