News Story



Mexico stocks higher at close of trade; S&P/BMV IPC up 0.10%

– Mexico stocks were higher after the close on Monday, as gains in the Telecoms Services, Financial Services and Industrials sectors led shares higher.

At the close in Mexico, the S&P/BMV IPC rose 0.10%.

The best performers of the session on the S&P/BMV IPC were Grupo Televisa SAB Unit (MX:TLVACPO), which rose 2.96% or 2.28 points to trade at 79.30 at the close. Meanwhile, Grupo Aeroportuario Del Sureste (MX:ASURB) added 2.01% or 6.31 points to end at 319.85 and Grupo Aeroportuario Del CentroNorte (MX:OMAB) was up 1.90% or 2.040 points to 109.150 in late trade.

The worst performers of the session were Grupo Elektra , S.A.B. De C.V. (MX:ELEKTRA), which fell 3.61% or 21.92 points to trade at 585.49 at the close. VOLARIS A (MX:VOLARA) declined 2.94% or 0.36 points to end at 11.89 and Cemex SAB de CV (MX:CMXCPO) was down 1.63% or 0.210 points to 12.650.

Falling stocks outnumbered advancing ones on the Mexico Stock Exchange by 161 to 123 and 2 ended unchanged.

Gold Futures for August delivery was down 0.01% or 0.10 to $1241.10 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September fell 4.17% or 2.92 to hit $67.03 a barrel, while the September Brent oil contract fell 4.58% or 3.45 to trade at $71.88 a barrel.

USD/MXN was down 0.35% to 18.8110, while EUR/MXN fell 0.16% to 22.0385.

The US Dollar Index Futures was down 0.20% at 94.25.

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Canada stocks lower at close of trade; S&P/TSX Composite down 0.49%

– Canada stocks were lower after the close on Monday, as losses in the Healthcare, Energy and Industrials sectors led shares lower.

At the close in Toronto, the S&P/TSX Composite fell 0.49%.

The best performers of the session on the S&P/TSX Composite were Turquoise Hill Resources Ltd. (TO:TRQ), which rose 3.77% or 0.140 points to trade at 3.850 at the close. Meanwhile, NFI Group Inc (TO:NFI) added 3.13% or 1.52 points to end at 50.05 and Linamar Corporation (TO:LNR) was up 2.75% or 1.54 points to 57.62 in late trade.

The worst performers of the session were Guyana Goldfields Inc . (TO:GUY), which fell 21.78% or 1.050 points to trade at 3.770 at the close. Aphria Inc (TO:APH) declined 7.23% or 0.850 points to end at 10.900 and Aurora Cannabis Inc (TO:ACB) was down 6.50% or 0.560 points to 8.060.

Falling stocks outnumbered advancing ones on the Toronto Stock Exchange by 630 to 461 and 117 ended unchanged.

Shares in Guyana Goldfields Inc. (TO:GUY) fell to 52-week lows; losing 21.78% or 1.050 to 3.770.

The S&P/TSX 60 VIX, which measures the implied volatility of S&P/TSX Composite options, was up 4.53% to 14.07.

Gold Futures for August delivery was up 0.01% or 0.10 to $1241.30 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September fell 4.12% or 2.88 to hit $67.07 a barrel, while the September Brent oil contract fell 4.46% or 3.36 to trade at $71.97 a barrel.

CAD/USD was up 0.16% to 0.7613, while CAD/EUR fell 0.11% to 0.6497.

The US Dollar Index Futures was down 0.20% at 94.25.

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Day Ahead: Top 3 Things to Watch

- Here’s a preview of the top 3 things that could rock markets tomorrow.

1. J&J, Goldman Sachs {{0|Goldman Sachs}}) Lead Earnings Report

Two Dow components will headline earnings reports ahead of trading Tuesday.

Johnson & Johnson (NYSE:JNJ) is forecast to earn $2.07 per share for the latest quarter on revenue of $20.39 billion. But apart from the numbers, investors will be listening to the conference call for any updates about a recent judgment to pay $4.7 billion to women who said J&J’s talcum powder resulted in ovarian cancer.

Goldman Sachs (NYSE:GS) is expected to earn $4.63 a share on revenue of $8.66 billion. Trading revenue will be in focus given JP Morgan's (NYSE:JPM) outperformance in that area.

Goldman Sachs is also expected to reveal that President David M. Solomon will succeed Lloyd C. Blankfein as the bank's next chief executive officer Tuesday.

Also reporting are Charles Schwab (NYSE:SCHW) and UnitedHealth Group (NYSE:UNH).

2. Fed Chief Powell Heads to Capitol Hill

Federal Reserve Chairman Jerome Powell heads to Capitol Hill Tuesday for the first appearance of his two-day Humprey-Hawkins testimony to Congress.

He will appear at the Senate Banking Committee first before appearing before the House Financial Services Committee.

Based on recent data and comments from Federal Open Market Committee members, the Fed is content with its plan of gradually increasing interest rates, which likely means two more hikes before the end of the year.

There is a more than 90% chance that rates will go up at the September meeting and a more than 60% chance of another rate hike in December, according to ’s Fed Rate Monitor Tool.

Congressional testimony from the Fed chief rarely elicits hints on the direction of interest rates beyond what the central bank has already intimated. But there could be interesting comments on the state of the economy and the impact of the new U.S. trade strategy.

According to the latest University of Michigan report on July consumer sentiment, “negative concerns about the potential impact (of tariffs) had risen from 15% in May to currently 38% in July, while 52% of those surveyed in the top third of income distribution - equivalent to half of consumer spending - negatively mentioned the economic impact.”

3. Netflix Tumbles on Weak Subscriber Growth

Tech stocks could face weakness tomorrow after Netflix (NASDAQ:NFLX) reported disappointing earnings after the bell Monday.

The stock fell nearly 13% in after-hours trading.

The company reported subscriber growth – a key metric for the streaming service – well below what analysts predicted.

Netflix added 670,000 U.S. subscribers in the second quarter, far from the 1.19 million Reuters consensus estimate.

Revenue came in at $3.91 billion, lower than the $3.94 billion expected.

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Colombia stocks higher at close of trade; COLCAP up 0.30%

– Colombia stocks were higher after the close on Monday, as gains in the Financials, Investment and Public Services sectors led shares higher.

At the close in Colombia, the COLCAP gained 0.30%.

The best performers of the session on the COLCAP were Interconnection Electric SA ESP (CN:ISA), which rose 1.00% or 140.0 points to trade at 14160.0 at the close. Meanwhile, Bcolombia (CN:BIC) added 0.86% or 300.0 points to end at 35000.0 and Pfgrupsura (CN:SIS_p) was up 1.75% or 620.0 points to 35980.0 in late trade.

The worst performers of the session were Cemex Latam Holdings SA (CN:CLH), which fell 1.72% or 140.0 points to trade at 7990.0 at the close. Ecopetrol SA (CN:ECO) declined 0.84% or 25.0 points to end at 2940.0 and Grupoaval (CN:GAA) was down 0.84% or 10.0 points to 1180.0.

Rising stocks outnumbered declining ones on the Colombia Stock Exchange by 16 to 14 and 2 ended unchanged.

Shares in Cemex Latam Holdings SA (CN:CLH) fell to 5-year lows; falling 1.72% or 140.0 to 7990.0.

US coffee C for September delivery was up 0.41% or 0.45 to $110.42 . Elsewhere in commodities trading, US cocoa for delivery in September fell 4.27% or 107.00 to hit $2399.00 , while the August Gold Futures contract rose 0.01% or 0.10 to trade at $1241.30 a troy ounce.

USD/COP was up 0.40% to 2870.50, while BRL/COP rose 0.10% to 743.33.

The US Dollar Index Futures was down 0.19% at 94.26.

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Stocks - Nasdaq Closes Lower; Netflix Sinks as Revenue, Guidance Misses

– U.S. stocks closed roughly flat on Monday, weighed down by a fall in energy as oil prices plunged, keeping a lid on gains in the broader market amid mostly positive earnings from large corporates.

The Dow Jones Industrial Average rose about 0.18%. The S&P 500 fell roughly 0.13%, while the Nasdaq Composite lost about 0.26%.

BlackRock and Bank of America reported second-quarter earnings beats, but investors dumped BlackRock (NYSE:BLK) stock as the bank reported a slowdown in inflows.

Yet the more-than-4% gain in Bank of America (NYSE:BAC) stock more than offset losses, driving financials to a solid gain for the day.

The upbeat performance in financials, however, were offset by a slump in the energy sector on falling oil prices. Oil prices settled lower on expectations the loss of Iranian crude from the global market would be less than many had anticipated after the U.S. said it may provide waivers to some importers of Iranian crude.

On the New York Mercantile Exchange crude futures for August delivery fell 4.2% to settle at $68.08 a barrel.

Overall, 86% of companies that have reported earnings so far, have topped consensus, with profits growing by 20.1%, FactSet data showed.

Netflix kicked off earnings for blue-chip tech stocks after the bell Monday, with weaker-than-expected second-quarter results. Microsoft (NASDAQ:MSFT) will report earnings on Thursday after market close.

Tech started the week on the back foot, ending the day mostly unchanged despite a rally in shares of Amazon to a record high.

Amazon.com (NASDAQ:AMZN) stock closed more than 1.5% higher as the tech giant got its 'Prime Day' sale underway, a 36-hour event which traditionally bolsters sales as customers flock online to scoop up discounts.

In economic news, core retail sales rose 0.4% last month, compared with an upwardly-revised 1.4% increase for May. The Empire State manufacturing index fell 2.4 points in July to a reading of 22.6.

The data came a day ahead of Federal Reserve Chairman Jerome Powell's testimony on the economy and monetary policy before the U.S. Senate Banking Committee on Tuesday at 10 AM ET (14:00 GMT) in Washington, followed by the House Financial Services Committee the next day.

On the political front, a summit between US President Trump and Russian leader Putin drew little market reaction as focus was mostly centered on Russian meddling in the U.S. election.

"The Russian state has never interfered, and is not going to interfere into internal American affairs, including the election process," Putin said.

Top Gainers and Losers on Wall Street Today:

The top Dow gainers for the session: JPMorgan Chase NYSE:JPM) gained roughly 4%, Goldman Sachs (NYSE:GS) rose 2% and Cisco Systems (NASDAQ:CSCO) up 1.7%.

Caterpillar (NYSE:CAT) down about 1.9%, Exxon Mobil (NYSE:XOM) off 1% and Johnson & Johnson (NYSE:JNJ) down 1%, were among the worst Dow performers of the session.

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Stocks – Energy Stocks Fall as Oil Prices Sink Below $70

- Energy stocks were the biggest drag on the U.S. market Monday as oil prices tumbled on expectations Iran supply disruptions may be averted.

Crude oil futures fell about 4.5% as of 2:00 PM ET (18:00 GMT) and were near the lows of the day. ExxonMobil (NYSE:XOM) stock dropped about 1.2%, Chevron (NYSE:CVX) stock was down about 1.3%, ConocoPhillips (NYSE:COP) stock lost about 2.2% and Hess (NYSE:HES) stock lost more than 4%.

Treasury Secretary Steve Mnuchin said Friday in remarks embargoed for today that the U.S. would consider exceptions in placing punitive measure on countries that purchased oil from Iran.

“We want people to reduce oil purchases to zero, but in certain cases if people can’t do that overnight, we’ll consider exceptions,” Mnuchin told reporters on Friday, Reuters reported.

The S&P Energy Sector was down about 1.4% in afternoon trading.

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Nigeria stocks lower at close of trade; NSE 30 down 0.24%

– Nigeria stocks were lower after the close on Monday, as losses in the Oil&Gas, Insurance and Banking sectors led shares lower.

At the close in Lagos, the NSE 30 declined 0.24%.

The best performers of the session on the NSE 30 were Uacn Prop (LAGOS:UACN), which rose 5.26% or 0.70 points to trade at 13.80 at the close. Meanwhile, Unilever Nig (LAGOS:UNILEVE) added 0.10% or 0.05 points to end at 51.90 and Nig Brew (LAGOS:NB) was unchanged 0.00% or 0.00 points to 110.00 in late trade.

The worst performers of the session were Wemabank (LAGOS:WEMABAN), which fell 10.00% or 0.070 points to trade at 0.630 at the close. Pz Cussons LG (LAGOS:PZ) declined 10.00% or 1.90 points to end at 17.10 and Wapco (LAGOS:WAPCO) was down 9.33% or 3.50 points to 34.00.

Falling stocks outnumbered advancing ones on the Lagos by 71 to 15 and 19 ended unchanged.

Shares in Pz Cussons LG (LAGOS:PZ) fell to 52-week lows; down 10.00% or 1.90 to 17.10.

Crude oil for September delivery was down 4.26% or 2.98 to $66.97 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September fell 4.46% or 3.36 to hit $71.97 a barrel, while the August Gold Futures contract fell 0.17% or 2.10 to trade at $1239.10 a troy ounce.

EUR/NGN was up 0.57% to 357.670, while USD/NGN rose 0.28% to 361.500.

The US Dollar Index Futures was down 0.15% at 94.30.

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Morocco stocks lower at close of trade; Moroccan All Shares down 0.02%

– Morocco stocks were lower after the close on Monday, as losses in the Hotels, Restaurants&Leisure, Forestry&Paper and Mining sectors led shares lower.

At the close in Casablanca, the Moroccan All Shares lost 0.02% to hit a new 52-week low.

The best performers of the session on the Moroccan All Shares were Sonasid (CS:SOND), which rose 4.56% or 23 points to trade at 536 at the close. Meanwhile, Cosumar (CS:CSMR) added 3.47% or 6 points to end at 176 and Stokvis Nord Afrique (CS:SNA) was up 2.59% or 0.44 points to 17.44 in late trade.

The worst performers of the session were SMI (CS:SMI), which fell 5.99% or 164 points to trade at 2572 at the close. Risma (CS:RIS) declined 2.60% or 4.50 points to end at 168.50 and Micro Data SA (CS:MIC) was down 2.40% or 7.00 points to 285.00.

Falling stocks outnumbered advancing ones on the Casablanca Stock Exchange by 16 to 15 and 3 ended unchanged.

Shares in SMI (CS:SMI) fell to 52-week lows; down 5.99% or 164 to 2572.

Crude oil for September delivery was down 3.90% or 2.73 to $67.22 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September fell 4.13% or 3.11 to hit $72.22 a barrel, while the August Gold Futures contract fell 0.19% or 2.30 to trade at $1238.90 a troy ounce.

EUR/MAD was up 0.06% to 11.0690, while USD/MAD fell 0.07% to 9.4581.

The US Dollar Index Futures was down 0.14% at 94.31.

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Portugal stocks higher at close of trade; PSI 20 up 0.02%

– Portugal stocks were higher after the close on Monday, as gains in the Utilities, Consumer Services and Financials sectors led shares higher.

At the close in Lisbon, the PSI 20 gained 0.02%.

The best performers of the session on the PSI 20 were Sonae Capital (LS:SONAC), which rose 1.19% or 0.0110 points to trade at 0.9340 at the close. Meanwhile, Sonae (LS:YSO) added 1.18% or 0.0120 points to end at 1.0300 and Mota Engil (LS:MOTA) was up 1.17% or 0.0350 points to 3.0300 in late trade.

The worst performers of the session were Nos SGPS SA (LS:NOS), which fell 1.06% or 0.0520 points to trade at 4.8500 at the close. Semapa (LS:SEM) declined 0.88% or 0.2000 points to end at 22.6500 and Ibersol SGPS (LS:IBS) was down 0.82% or 0.100 points to 12.100.

Rising stocks outnumbered declining ones on the Lisbon Stock Exchange by 17 to 14 and 8 ended unchanged.

Brent oil for September delivery was down 4.21% or 3.17 to $72.16 a barrel. Elsewhere in commodities trading, Crude oil for delivery in September fell 3.95% or 2.76 to hit $67.19 a barrel, while the August Gold Futures contract fell 0.19% or 2.40 to trade at $1238.80 a troy ounce.

EUR/USD was up 0.12% to 1.1700, while EUR/GBP rose 0.19% to 0.8846.

The US Dollar Index Futures was down 0.11% at 94.34.

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Denmark stocks lower at close of trade; OMX Copenhagen 20 down 0.22%

– Denmark stocks were lower after the close on Monday, as losses in the Industrials, Real Estate and Financials sectors led shares lower.

At the close in Copenhagen, the OMX Copenhagen 20 declined 0.22%.

The best performers of the session on the OMX Copenhagen 20 were GN Store Nord (CO:GN), which rose 1.18% or 3.4 points to trade at 292.1 at the close. Meanwhile, Nordea Bank AB (CO:NDA) added 1.00% or 0.62 points to end at 62.76 and Pandora A/S (CO:PNDORA) was up 0.46% or 2.0 points to 441.0 in late trade.

The worst performers of the session were AP Moeller - Maersk A/S B (CO:MAERSKb), which fell 2.39% or 192 points to trade at 7836 at the close. AP Moeller - Maersk A/S A (CO:MAERSKa) declined 2.09% or 160 points to end at 7480 and DSV (CO:DSV) was down 1.21% or 6.2 points to 507.0.

Falling stocks outnumbered advancing ones on the Copenhagen Stock Exchange by 63 to 55 and 20 ended unchanged.

Crude oil for September delivery was down 4.02% or 2.81 to $67.14 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September fell 4.34% or 3.27 to hit $72.06 a barrel, while the August Gold Futures contract fell 0.20% or 2.50 to trade at $1238.70 a troy ounce.

USD/DKK was down 0.11% to 6.3722, while EUR/DKK fell 0.03% to 7.4525.

The US Dollar Index Futures was down 0.06% at 94.38.

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Italy stocks lower at close of trade; Investing.com Italy 40 down 0.28%

– Italy stocks were lower after the close on Monday, as losses in the Oil&Gas, Industrials and Chemicals sectors led shares lower.

At the close in Milan, the Italy 40 fell 0.28%.

The best performers of the session on the Italy 40 were Italgas SpA (MI:IG), which rose 1.73% or 0.082 points to trade at 4.810 at the close. Meanwhile, Davide Campari Milano SpA (MI:CPRI) added 1.52% or 0.11 points to end at 7.37 and Poste Italiane SpA (MI:PST) was up 1.45% or 0.110 points to 7.682 in late trade.

The worst performers of the session were Saipem SpA (MI:SPMI), which fell 4.27% or 0.1780 points to trade at 3.9910 at the close. Ferrari NV (MI:RACE) declined 1.51% or 1.85 points to end at 120.60 and ENI (MI:ENI) was down 1.39% or 0.23 points to 16.05.

Falling stocks outnumbered advancing ones on the Milan Stock Exchange by 180 to 171 and 32 ended unchanged.

Crude oil for September delivery was down 4.02% or 2.81 to $67.14 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September fell 4.33% or 3.26 to hit $72.07 a barrel, while the August Gold Futures contract fell 0.21% or 2.60 to trade at $1238.60 a troy ounce.

EUR/USD was up 0.09% to 1.1696, while EUR/GBP rose 0.20% to 0.8847.

The US Dollar Index Futures was down 0.07% at 94.37.

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France stocks lower at close of trade; CAC 40 down 0.36%

– France stocks were lower after the close on Monday, as losses in the Oil&Gas, Basic Materials and Utilities sectors led shares lower.

At the close in Paris, the CAC 40 declined 0.36%, while the SBF 120 index lost 0.30%.

The best performers of the session on the CAC 40 were Carrefour SA (PA:CARR), which rose 1.07% or 0.14 points to trade at 13.28 at the close. Meanwhile, Accor SA (PA:ACCP) added 0.93% or 0.41 points to end at 44.63 and Cap Gemini SA (PA:CAPP) was up 0.65% or 0.75 points to 117.00 in late trade.

The worst performers of the session were TechnipFMC PLC (PA:FTI), which fell 3.22% or 0.86 points to trade at 25.84 at the close. ArcelorMittal SA (AS:MT) declined 1.34% or 0.340 points to end at 25.115 and Valeo SA (PA:VLOF) was down 1.32% or 0.65 points to 48.51.

The top performers on the SBF 120 were Technicolor (PA:TCH) which rose 4.78% to 1.075, Elior Group (PA:ELIOR) which was up 2.19% to settle at 13.05 and Orpea (PA:ORP) which gained 1.76% to close at 124.00.

The worst performers were SES (PA:SESFd) which was down 5.95% to 16.99 in late trade, TechnipFMC PLC (PA:FTI) which lost 3.22% to settle at 25.84 and CGG SA (PA:GEPH) which was down 2.85% to 2.248 at the close.

Falling stocks outnumbered advancing ones on the Paris Stock Exchange by 301 to 263 and 92 ended unchanged.

Shares in Orpea (PA:ORP) rose to all time highs; up 1.76% or 2.15 to 124.00.

The CAC 40 VIX, which measures the implied volatility of CAC 40 options, was up 1.31% to 11.80.

Gold Futures for August delivery was down 0.20% or 2.50 to $1238.70 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September fell 4.05% or 2.83 to hit $67.12 a barrel, while the September Brent oil contract fell 4.33% or 3.26 to trade at $72.07 a barrel.

EUR/USD was up 0.08% to 1.1695, while EUR/GBP rose 0.20% to 0.8847.

The US Dollar Index Futures was down 0.06% at 94.38.

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Belgium stocks higher at close of trade; BEL 20 up 0.15%

– Belgium stocks were higher after the close on Monday, as gains in the Technology, Healthcare and Consumer Services sectors led shares higher.

At the close in Brussels, the BEL 20 rose 0.15% to hit a new 1-month high.

The best performers of the session on the BEL 20 were Cofinimmo-Sicafi (BR:COFB), which rose 1.48% or 1.60 points to trade at 109.80 at the close. Meanwhile, KBC (BR:KBC) added 1.31% or 0.860 points to end at 66.360 and Sofina (BR:SOF) was up 1.20% or 1.80 points to 152.00 in late trade.

The worst performers of the session were Telenet Group (BR:TNET), which fell 5.67% or 2.52 points to trade at 41.94 at the close. Proximus NV (BR:PROX) declined 2.22% or 0.46 points to end at 20.23 and Engie SA (PA:ENGIE) was down 0.92% or 0.12 points to 13.40.

Rising stocks outnumbered declining ones on the Brussels Stock Exchange by 63 to 52 and 15 ended unchanged.

Shares in Sofina (BR:SOF) rose to all time highs; up 1.20% or 1.80 to 152.00.

Gold Futures for August delivery was down 0.12% or 1.50 to $1239.70 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September fell 4.13% or 2.89 to hit $67.06 a barrel, while the September Brent oil contract fell 4.58% or 3.45 to trade at $71.88 a barrel.

EUR/USD was up 0.21% to 1.1711, while EUR/GBP rose 0.25% to 0.8851.

The US Dollar Index Futures was down 0.17% at 94.28.

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Poland stocks lower at close of trade; WIG30 down 0.86%

– Poland stocks were lower after the close on Monday, as losses in the Telecoms, Energy and Oil&Gas sectors led shares lower.

At the close in Warsaw, the WIG30 fell 0.86%.

The best performers of the session on the WIG30 were CD Projekt SA (WA:CDR), which rose 2.81% or 5.40 points to trade at 197.40 at the close. Meanwhile, Dino Polska SA (WA:DNP) added 2.38% or 2.40 points to end at 103.40 and PKP Cargo (WA:PKPP) was up 1.49% or 0.65 points to 44.15 in late trade.

The worst performers of the session were Gornictwo Naftowe i Gazownictwo SA (WA:PGN), which fell 3.74% or 0.22 points to trade at 5.67 at the close. Tauron Polska Energia SA (WA:TPE) declined 3.18% or 0.070 points to end at 2.130 and Eurocash SA (WA:EUR) was down 3.14% or 0.61 points to 18.80.

Falling stocks outnumbered advancing ones on the Warsaw Stock Exchange by 233 to 209 and 174 ended unchanged.

Shares in CD Projekt SA (WA:CDR) rose to all time highs; gaining 2.81% or 5.40 to 197.40. Shares in Eurocash SA (WA:EUR) fell to 5-year lows; down 3.14% or 0.61 to 18.80.

Crude oil for September delivery was down 3.86% or 2.70 to $67.25 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September fell 4.27% or 3.22 to hit $72.11 a barrel, while the August Gold Futures contract fell 0.10% or 1.30 to trade at $1239.90 a troy ounce.

EUR/PLN was down 0.08% to 4.3102, while USD/PLN fell 0.21% to 3.6810.

The US Dollar Index Futures was down 0.17% at 94.28.

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Norway stocks lower at close of trade; Oslo OBX down 0.82%

– Norway stocks were lower after the close on Monday, as losses in the Energy, Telecoms and Real Estate sectors led shares lower.

At the close in Oslo, the Oslo OBX declined 0.82%.

The best performers of the session on the Oslo OBX were Aker Solutions OL (OL:AKSOL), which rose 2.75% or 1.48 points to trade at 55.30 at the close. Meanwhile, Golden Ocean Group Ltd (OL:GOGLT) added 0.87% or 0.60 points to end at 69.75 and Storebrand ASA (OL:STB) was up 0.85% or 0.58 points to 68.50 in late trade.

The worst performers of the session were REC Silicon ASA (OL:REC), which fell 3.61% or 0.03 points to trade at 0.81 at the close. Aker BP ASA (OL:AKERBP) declined 3.22% or 9.60 points to end at 288.80 and Equinor ASA (OL:EQNR) was down 1.83% or 4.0 points to 214.2.

Falling stocks outnumbered advancing ones on the Oslo Stock Exchange by 95 to 73 and 32 ended unchanged.

Crude oil for September delivery was down 3.70% or 2.59 to $67.36 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September fell 4.13% or 3.11 to hit $72.22 a barrel, while the August Gold Futures contract fell 0.09% or 1.10 to trade at $1240.10 a troy ounce.

EUR/NOK was up 0.02% to 9.4907, while USD/NOK fell 0.20% to 8.1035.

The US Dollar Index Futures was down 0.18% at 94.27.

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Gold Falls as Lower Dollar, Data Weigh

- Gold prices inched down on Monday, despite a lower U.S. dollar as data supported expectations of a Fed interest rate increase.

Comex gold futures for August delivery decreased 0.15% to $1,239.30 a troy ounce as of 11:18 AM ET (15:18 GMT).

Gold was weighed down by economic data pointing to an increase in Federal Reserve interest rates. Retail sales increased by 0.5% for the fifth month in a row, according to the U.S. Commerce Department.

The Fed raised rates twice this year and is expected to raise rates at least once more before the end of the year.Higher rates are a negative for gold as the precious metal, which does not pay interest, struggles to compete with yield-bearing assets when rates rise.

Investors were also paying attention to any news of the meeting between U.S. President Donald Trump Russian President Vladimir Putin at their one-on-one meeting in Helsinki on Monday.

Meanwhile the dollar was lower. Gold normally rises as the dollar falls, as the precious metal is denominated in the U.S. currency and is sensitive to moves in the dollar.

The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, inched down 0.14% to 94.00.

Bullion becomes more expensive for holders of other currencies when the dollar rises and cheaper when it falls.

Elsewhere on the Comex, silver futures were down 0.13% to $15.795 a troy ounce. Among other precious metals, platinum slumped 1.11% to $821.20 while palladium decreased 2.03% to $914.30 an ounce. Copper futures lost 0.31% to $2.767 a pound.

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Greece stocks higher at close of trade; Athens General Composite up 0.50%

– Greece stocks were higher after the close on Monday, as gains in the Utilities, Industrials and Financials sectors led shares higher.

At the close in Athens, the Athens General Composite added 0.50%.

The best performers of the session on the Athens General Composite were Nireus Aqua (AT:NIRr), which rose 5.42% or 0.009 points to trade at 0.179 at the close. Meanwhile, Gek Terna (AT:HRMr) added 3.46% or 0.180 points to end at 5.380 and Ellaktor SA (AT:HELr) was up 3.45% or 0.070 points to 2.150 in late trade.

The worst performers of the session were Loulis Mills (AT:LOUr), which fell 2.75% or 0.06 points to trade at 2.14 at the close. Iaso (AT:IASr) declined 2.21% or 0.018 points to end at 0.796 and Autohellas (AT:AUTr) was down 1.72% or 0.40 points to 22.80.

Rising stocks outnumbered declining ones on the Athens Stock Exchange by 64 to 31 and 19 ended unchanged.

Shares in Ellaktor SA (AT:HELr) rose to 3-years highs; gaining 3.45% or 0.070 to 2.150.

Gold Futures for August delivery was down 0.15% or 1.80 to $1239.40 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September fell 3.30% or 2.31 to hit $67.64 a barrel, while the September Brent oil contract fell 3.66% or 2.76 to trade at $72.57 a barrel.

EUR/USD was up 0.18% to 1.1707, while EUR/GBP rose 0.22% to 0.8848.

The US Dollar Index Futures was down 0.14% at 94.31.

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Israel stocks lower at close of trade; TA 35 down 0.22%

– Israel stocks were lower after the close on Monday, as losses in the Banking, Communication and Technology sectors led shares lower.

At the close in Tel Aviv, the TA 35 declined 0.22%.

The best performers of the session on the TA 35 were Alony Hetz Properties and Investments Ltd (TA:ALHE), which rose 2.53% or 84 points to trade at 3399 at the close. Meanwhile, Harel (TA:HARL) added 1.43% or 38 points to end at 2690 and Nice Ltd (TA:NICE) was up 1.30% or 510 points to 39810 in late trade.

The worst performers of the session were Perrigo (TA:PRGO), which fell 2.19% or 610 points to trade at 27210 at the close. OPKO Health Inc (TA:OPK) declined 1.62% or 34 points to end at 2071 and Leumi (TA:LUMI) was down 1.41% or 31 points to 2175.

Falling stocks outnumbered advancing ones on the Tel Aviv Stock Exchange by 205 to 177 and 35 ended unchanged.

Crude oil for September delivery was down 3.72% or 2.60 to $67.35 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September fell 3.70% or 2.79 to hit $72.54 a barrel, while the August Gold Futures contract fell 0.10% or 1.20 to trade at $1240.00 a troy ounce.

USD/ILS was down 0.23% to 3.6296, while EUR/ILS fell 0.04% to 4.2499.

The US Dollar Index Futures was down 0.14% at 94.31.

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Oil Prices Sink Below $68 as U.S. Treasury Considers Waivers on Iran Sanctions

- Oil prices fell more than 3% to below $68 on Monday as the U.S. Treasury Secretary Steven Mnuchin suggested that certain exceptions could be made for countries importing oil from Iran.

New York-traded West Texas Intermediate crude futures tumbled $2.33 or 3.3% to $67.62 a barrel by 10:32 AM ET (14:33 GMT).

Meanwhile, Brent crude futures, the benchmark for oil prices outside the U.S., sank $2.56 or 3.4%, to $72.77.

“We want people to reduce oil purchases to zero, but in certain cases if people can't do that overnight, we'll consider exceptions," Mnuchin told reporters on Friday in comments embargoed until Monday, according to Reuters.

After U.S. President Donald Trump withdrew from the Iran nuclear deal and reimposed sanctions, countries buying oil from Tehran were threatened with secondary sanctions from the U.S., cutting down on Iran’s contribution to global supply.

However, Trump has complained on several occasions about prices being too high and said he had requested Saudi Arabia to increase output.

Mnuchin suggested that he would meet with counterparts on the sidelines of a G20 finance ministers' meeting in Buenos Aires on July 19-22 where sanctions on Iran were likely to be a topic of conversation.

“The State Department has the ability to issue waivers around significant reductions in the oil markets, that's something that Treasury and State will be doing,” Mnuchin said, adding that the U.S. would be “open to listening”.

In other energy trading, gasoline futures fell 3.04% $2.0327 a gallon by 10:37 AM ET (14:37 GMT), while heating oil lost 2.82% to $2.0733 a gallon.

Lastly, natural gas futures gained 0.47% to $2.765 per million British thermal units.

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U.S. Retail Sales Rise 0.5% in June

- Retail sales increased by a seasonally adjusted 0.5% last month, according to the U.S. Commerce Department, in line with expectations. It was the fifth consecutive monthly increase.

Retail sales for May were revised to a gain of 1.3% from a previously reported 0.8% increase.

Rising retail sales over time correlate with stronger economic growth, while weaker sales signal a declining economy.

Core retail sales, which exclude automobile sales, rose by a seasonally adjusted 0.4%, also in line with forecasts. Core sales rose 1.4% in the preceding month.

Core sales correspond most closely with the consumer spending component of the government's gross domestic product report. Consumer spending accounts for as much as 70% of U.S. economic growth.

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Stocks- U.S. Futures Flat as Investors Look to Earnings

– U.S. futures were flat as investors turn their focus to corporate earnings.

The S&P 500 futures fell half a point or 0.02% to 2,802.75 as of 6:49 AM ET (10:49 GMT) while Dow futures increased eight points or 0.03% to 25,012.0. Meanwhile tech heavy Nasdaq 100 futures gained six points or 0.08% to 7,399.25.

U.S. President Donald Trump wraps up his European tour on Monday with a one-on-one meeting with Russian President Vladimir Putin in Helsinki. Geopolitical analysts expect Putin to urge Trump to soften sanctions, while Trump has said he will discuss allegations of meddling in the 2016 election to the war in Syria.

Meanwhile earnings season continues in earnest on Monday, with Blackrock (NYSE:BLK) reporting higher than expected earnings results. Bank of America (NYSE:BAC) was up 0.53% after its financial results came in better than expected.

Netflix (NASDAQ:NFLX) is set to release its financial results after markets close. The streaming site rose 1.10% while Facebook (NASDAQ:FB) was up 0.24% and General Electric (NYSE:GE) inched up 0.36%. Microsoft (NASDAQ:MSFT) gained 0.47% and Cisco Systems (NASDAQ:CSCO) increased 0.34%.

Elsewhere Tesla (NASDAQ:TSLA) fell 0.90% as the luxury car maker announced its Model 3 is available for sale in all of North America, with expected delivery in one to three months.

In economic news, retail sales are set for 8:30 AM ET (12:30 GMT) while the New York Empire State Manufacturing Index comes out at the same time.

In Europe stocks were mostly down. Germany’s DAX rose 13 points or 0.10% while in France the CAC 40 decreased nine points or 0.18% and in London, the FTSE 100 fell 54 points or 0.71%. Meanwhile the pan-European Euro Stoxx 50 lost three points or 0.10% while Spain’s IBEX 35 inched down 18 points or 0.19%.

In commodities, gold futures rose 0.18% to $1,243.40 a troy ounce while crude oil futures decreased 1.83% to $68.67 a barrel. The U.S. dollar index which measures the greenback against a basket of six major currencies, was down 0.14% to 94.31.

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Sri Lanka stocks lower at close of trade; CSE All-Share down 0.12%

– Sri Lanka stocks were lower after the close on Monday, as losses in the Information Technology, Telecoms and Banking, Financials&Insurance sectors led shares lower.

At the close in Colombo, the CSE All-Share declined 0.12%.

The best performers of the session on the CSE All-Share were PCH Holdings PLC (CM:PCHH), which rose 40.00% or 0.200 points to trade at 0.700 at the close. Meanwhile, Amana Takaful PLC (CM:ATL) added 28.57% or 0.200 points to end at 0.900 and Associated Motor Finance Company PLC (CM:ASSO) was up 24.88% or 99.50 points to 499.50 in late trade.

The worst performers of the session were Blue Diamonds Jewellery Worldwide PLC (CM:BLUE), which fell 14.29% or 0.100 points to trade at 0.600 at the close. Shalimar Estates (CM:SHAL) declined 11.86% or 177.60 points to end at 1320.00 and Agstar PLC (CM:AGST) was down 10.26% or 0.40 points to 3.50.

Rising stocks outnumbered declining ones on the Colombo Stock Exchange by 85 to 70 and 58 ended unchanged.

Shares in Blue Diamonds Jewellery Worldwide PLC (CM:BLUE) fell to all time lows; losing 14.29% or 0.100 to 0.600. Shares in Associated Motor Finance Company PLC (CM:ASSO) rose to 52-week highs; up 24.88% or 99.50 to 499.50.

Crude oil for September delivery was down 1.83% or 1.28 to $68.67 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September fell 1.99% or 1.50 to hit $73.83 a barrel, while the August Gold Futures contract rose 0.21% or 2.60 to trade at $1243.80 a troy ounce.

GBP/LKR was up 0.56% to 212.030, while USD/LKR rose 0.19% to 159.860.

The US Dollar Index Futures was down 0.17% at 94.28.

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Dollar Slips Lower, Euro Pushes Up to Day’s Highs

- The dollar slipped lower against a currency basket on Monday, having posted its largest weekly gain in a month last week as investors turned their attention to U.S. retail sales figures for June later in the session.

The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, slid 0.15% to 94.30 by 06:27 AM ET (10:27 AM GMT). The index rose 0.7% last week, its largest weekly percentage gain since mid-June.

Demand for the dollar continued to be underpinned as the risk of a further escalation in trade conflict and soft economic data out of China kept investors cautious.

Data overnight showed that China’s economy slowed in line with expectations in the second quarter, indicating that the trade dispute with the U.S. may be acting as a drag on growth.

Chinese GDP rose at an annual rate of 6.7% in the three months to June, down from 6.8% in the first quarter.

Also Monday, China said it had filed a complaint with the World Trade Organization over a U.S. threat to slap 10% tariffs on $200 billion of Chinese imports.

The move came after U.S. President Donald Trump alarmed European leaders over the weekend by declaring that the EU is a “foe” given how it trades with the U.S.

The euro rose to the day’s highs against the softer dollar, with EUR/USD adding on 0.2% to trade at 1.1709.

The dollar was little changed against the safe haven yen, with USD/JPY last at 112.38.

Investors were looking ahead to June retail sales figures from the U.S. later in the day.

The International Monetary Fund was also to release its latest World Economic Outlook later Monday.

Sterling pushed higher, with GBP/USD rising 0.21% to 1.3263 as investors continued to watch ongoing Brexit developments ahead of more crunch votes in the UK parliament this week, with Prime Minister Theresa May facing a rebellion from Brexit hardliners.

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Economic Calendar: Top Things To Watch

- On Monday, retail sales, business inventories and the New York Empire State Manufacturing Index are released.Earnings are due out from Netflix (NASDAQ:NFLX) (Monday), Goldman Sachs (NYSE:GS) (Tuesday), IBM (NYSE:IBM) (Wednesday) and Microsoft (NASDAQ:MSFT) (Thursday).On Tuesday, look for reports on capacity utilization, industrial production and the NAHB Housing Market Index. Fed Chairman Jerome Powell delivers his semi-annual monetary policy report to Congress on Tuesday and Wednesday.Housing starts and building permits are due out on Wednesday.

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China stocks lower at close of trade; Shanghai Composite down 0.61%

– China stocks were lower after the close on Monday, as losses in the Banking, Real Estate Investments&Services and Financials sectors led shares lower.

At the close in Shanghai, the Shanghai Composite fell 0.61%, while the SZSE Component index declined 0.10%.

The best performers of the session on the Shanghai Composite were Baotailong New Materials Co Ltd (SS:601011), which rose 10.07% or 0.550 points to trade at 6.010 at the close. Meanwhile, Fangxing Sci (SS:600552) added 10.07% or 0.460 points to end at 5.030 and Nanjing Xinjiekou Department Store Co Ltd (SS:600682) was up 10.04% or 1.38 points to 15.13 in late trade.

The worst performers of the session were Anji Foodstuff Co Ltd (SS:603696), which fell 10.02% or 2.060 points to trade at 18.500 at the close. Fujian Furi Electronics Co Ltd (SS:600203) declined 10.01% or 0.71 points to end at 6.38 and Ningxia Xinri Hengli Steel Wire Rope Co Ltd (SS:600165) was down 10.00% or 0.790 points to 7.110.

The top performers on the SZSE Component were Anhui Shengyun Environment-Protection Group Co Ltd (SZ:300090) which rose 10.05% to 4.05, Shenzhen Shenxin Taifeng Group Co Ltd (SZ:000034) which was up 10.03% to settle at 15.69 and ZTE Corp (SZ:000063) which gained 10.00% to close at 15.51.

The worst performers were Inner Mongolia Hotision Monsod (SZ:300355) which was down 10.03% to 5.29 in late trade, Guangdong Eastone Century Technology Co Ltd (SZ:300310) which lost 10.00% to settle at 5.13 and BGI Genomics Co Ltd (SZ:300676) which was down 10.00% to 92.30 at the close.

Falling stocks outnumbered advancing ones on the Shanghai Stock Exchange by 753 to 599 and 67 ended unchanged.

Shares in Anji Foodstuff Co Ltd (SS:603696) fell to 52-week lows; down 10.02% or 2.060 to 18.500. Shares in Fujian Furi Electronics Co Ltd (SS:600203) fell to 3-years lows; falling 10.01% or 0.71 to 6.38. Shares in Ningxia Xinri Hengli Steel Wire Rope Co Ltd (SS:600165) fell to 52-week lows; losing 10.00% or 0.790 to 7.110. Shares in Inner Mongolia Hotision Monsod (SZ:300355) fell to 52-week lows; down 10.03% or 0.59 to 5.29. Shares in Guangdong Eastone Century Technology Co Ltd (SZ:300310) fell to 3-years lows; losing 10.00% or 0.57 to 5.13.

The CBOE China Etf Volatility, which measures the implied volatility of Shanghai Composite options, was unchanged 0.00% to 21.80.

Gold Futures for August delivery was up 0.10% or 1.30 to $1242.50 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September fell 0.84% or 0.59 to hit $69.36 a barrel, while the September Brent oil contract fell 0.37% or 0.28 to trade at $75.05 a barrel.

USD/CNY was down 0.00% to 6.6899, while EUR/CNY rose 0.05% to 7.8231.

The US Dollar Index Futures was unchanged 0.00% at 94.44.

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Taiwan stocks lower at close of trade; Taiwan Weighted down 0.43%

– Taiwan stocks were lower after the close on Monday, as losses in the , Electricity and Electronic Parts/Components sectors led shares lower.

At the close in Taiwan, the Taiwan Weighted fell 0.43%.

The best performers of the session on the Taiwan Weighted were Rexon Industrial Corp Ltd (TW:1515), which rose 9.97% or 4.35 points to trade at 48.00 at the close. Meanwhile, Century Iron And Steel Industrial Co Ltd (TW:9958) added 9.97% or 6.40 points to end at 70.60 and Advanced Power Electronics Corp (TW:8261) was up 9.90% or 5.00 points to 55.50 in late trade.

The worst performers of the session were Walsin Technology Corp (TW:2492), which fell 6.89% or 30.00 points to trade at 405.50 at the close. Tai Twun Enterprise Co Ltd (TW:3432) declined 6.41% or 1.35 points to end at 19.70 and Holy Stone Enterprise Co Ltd (TW:3026) was down 5.84% or 14.50 points to 234.00.

Falling stocks outnumbered advancing ones on the Taiwan Stock Exchange by 422 to 371 and 120 ended unchanged.

Crude oil for September delivery was down 0.93% or 0.65 to $69.30 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September fell 0.85% or 0.64 to hit $74.69 a barrel, while the August Gold Futures contract rose 0.30% or 3.70 to trade at $1244.90 a troy ounce.

USD/TWD was down 0.11% to 30.545, while TWD/CNY rose 0.09% to 0.2196.

The US Dollar Index Futures was down 0.12% at 94.33.

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Australia stocks lower at close of trade; S&P/ASX 200 down 0.45%

– Australia stocks were lower after the close on Monday, as losses in the Gold, Healthcare and A-REITs sectors led shares lower.

At the close in Sydney, the S&P/ASX 200 lost 0.45%.

The best performers of the session on the S&P/ASX 200 were G8 Education Ltd (AX:GEM), which rose 5.88% or 0.140 points to trade at 2.520 at the close. Meanwhile, Inghams Group Ltd (AX:ING) added 4.53% or 0.17 points to end at 3.92 and Sigma Pharmaceuticals Ltd (AX:SIG) was up 4.21% or 0.020 points to 0.495 in late trade.

The worst performers of the session were Orocobre Ltd (AX:ORE), which fell 4.44% or 0.250 points to trade at 5.380 at the close. Evolution Mining Ltd (AX:EVN) declined 4.53% or 0.150 points to end at 3.160 and Western Areas Ltd (AX:WSA) was down 3.99% or 0.145 points to 3.485.

Falling stocks outnumbered advancing ones on the Sydney Stock Exchange by 604 to 575 and 350 ended unchanged.

The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was up 5.27% to 12.619.

Gold Futures for August delivery was up 0.31% or 3.90 to $1245.10 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September fell 0.73% or 0.51 to hit $69.44 a barrel, while the September Brent oil contract fell 0.62% or 0.47 to trade at $74.86 a barrel.

AUD/USD was up 0.15% to 0.7434, while AUD/JPY rose 0.18% to 83.56.

The US Dollar Index Futures was down 0.08% at 94.36.

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Australian Dollar Falls after Weak China Data

– The Australian Dollar depreciated against the dollar following the release of a slew of China data on Monday.

China’s economy expanded by 6.7% in the second quarter, its slowest pace since 2016, although the growth is still above the government’s target of “about 6.5%” growth for the year.

While the official GDP readings were largely in line with market expectations, the country’s industrial output grew 6% year-on-year in June, which was slower than the expected 6.5%. The weak industrial production was cited as the catalyst for the selling in the Aussie dollar, which is usually seen as a proxy for China.

The AUD/USD pair traded at 0.7412 by 12:30AM ET (04:30 GMT), after clocking a high of 0.7436 earlier today.

Retail sales on the other hand rose 9% year-on-year in June, beating the general consensus of a 8.8% increase, although its impact on the forex markets seemed to be limited.

Elsewhere, the USD/CNY pair slipped 0.03% to 6.6889. The People's Bank of China (PBOC) set the yuan reference rate at 6.6758 on Monday versus Friday's day's fix of 6.6727.

The U.S. Dollar Index, which tracks the greenback against a basket of other currencies, was down 0.03% at 94.41 on Monday.

The yen was little changed as the USD/JPY pair edged 0.03% higher to 112.45, hovering near a six-month high of 112.79 set on Friday.

U.S. President Donald Trump's summit with his Russian counterpart in Helsinki later in the day will also be closely watched, as Trump played down expectations over the weekend for the upcoming talks.

“No matter how well I do at the Summit, if I was given the great city of Moscow as retribution for all of the sins and evils committed by Russia over the years, I would return to criticism that it wasn’t good enough,” Trump said in a series of tweets.

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Oil Prices Edge Lower; Trump-Putin Summit In Focus

– Oil prices edged lower on Monday as traders awaited the outcome of the first offcial dialogue between U.S. President Donald Trump and Russian President Vladimir Putin summit in Helsinki later in the day.

Crude Oil WTI Futures for September delivery were trading at $69.53 a barrel at 12:05AM ET (04:05 GMT), down 0.6%. Brent Oil Futures for September delivery, traded in London, were also down 0.5% at $74.92 per barrel.

"A summit between U.S. President Trump and Russian President Putin is being watched in case they say something about oil," said Kim Kwang-rae, commodity analyst at Samsung (KS:005930) Futures in Seoul.

Trump has been vocal about his dissatisfaction with higher oil prices and has urged OPEC to lower prices earlier this month.

Reports that the U.S. is considering to rein in prices by tapping into its emergency crude supplies were also cited as headwind for oil prices.

The Trump’s administration is reportedly mulling the release of oil from the nation’s 660-million-barrel Strategic Petroleum Reserve to stabilize rallying gasoline prices.

The continued trade concerns between the U.S. and China remained in focus, as traders fear the development could threaten global demand.

Treasury Secretary Steven Mnuchin said on Thursday that he and the administration are “available” for discussion, but China must first agree to deeper economic reforms. 

“To the extent that China wants to make structural changes, I and the administration are available,” Mnuchin said on Thursday. “We are not advocating tariffs. We are advocating fair trade.” 

Meanwhile, Supply disruptions resulting from strike actions in Norway and Iraq eased on Monday, while reports that Libyan ports resumed export activities pushed oil prices lower.

"Crude oil prices fell as fears of supply disruptions eased. News that Libya's state oil producer had restarted output from a major oil field ignited the selloff earlier in the week," ANZ Bank said in a note.

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Bitcoin Rises; South Korea’s Bithumb to Expand into Japan, Thailand

– Bitcoin and other major cryptocurrencies rose on Monday, while reports that South Korea's second largest crypto exchange Bithumb is expanding into Japan and Thailand raised some eyebrows.

Bitcoin was trading at $6,370.8 by 11:40PM ET (03:40 GMT) on the Bitfinex exchange, up 1.6% in the last 24 hours.

Ethereum, the world’s second largest cryptocurrency by market cap, gained 3.2% to $448.8 on the Bitifinex exchange.

XRP/USD’s XRP token was also up 1.9% to $0.44643 on the Poloniex exchange.

Meanwhile, Litecoin climbed 1.9% and traded at $78.6.

Bithumb announced over the weekend that it is currently working on obtaining regulatory approval from the financial regulators of both Thailand and Japan.

The South Korea-based exchange said it has already established a Thai subsidiary with registered capital of 3 million baht, and that it expects services in Thailand to beginning at the end of October.

Meanwhile, the exchange is also applying for approval from Japan’s FSA in order to open an exchange in the country in February 2019. “It plans to set up an exchange that supports the largest number of coins in Japan,” a local publication revealed.

Bithumb said it was looking for partners for its global expansion earlier this year.

“Bithumb is preparing exchange platforms for countries under the global expansion plan and we are looking for great and potential partners (corporation, entity or group) worldwide…The exchange platforms under final development stages are USD / JYP / EUR / CNY / INR / GBP / AUD / CAD / PHP / RUB and [there] will be more soon when there are any service demands,” The exchange said earlier this year.

South Korea media outlet reported that Bithumb has also established a subsidiary in Singapore and Britain. “We are considering establishing overseas subsidiaries in various countries such as the U.S. and Europe, but the time has not yet been determined,” the exchange clarified.

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Israel stocks lower at close of trade; TA 35 down 0.07%

– Israel stocks were lower after the close on Sunday, as losses in the Banking, Biomed and Technology sectors led shares lower.

At the close in Tel Aviv, the TA 35 lost 0.07%.

The best performers of the session on the TA 35 were Partner (TA:PTNR), which rose 7.00% or 98 points to trade at 1498 at the close. Meanwhile, Paz Oil (TA:PZOL) added 2.53% or 1270 points to end at 51450 and Bazan Oil Refineries Ltd (TA:ORL) was up 2.48% or 4.0 points to 165.0 in late trade.

The worst performers of the session were OPKO Health Inc (TA:OPK), which fell 6.65% or 150 points to trade at 2105 at the close. Teva Pharmaceutical Industries Ltd (TA:TEVA) declined 2.15% or 187 points to end at 8509 and Tower Semiconductor Ltd (TA:TSEM) was down 1.29% or 102 points to 7819.

Rising stocks outnumbered declining ones on the Tel Aviv Stock Exchange by 193 to 178 and 35 ended unchanged.

Shares in Tower Semiconductor Ltd (TA:TSEM) fell to 52-week lows; down 1.29% or 102 to 7819.

Crude oil for September delivery was unchanged 0.00% or 0.00 to $69.95 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 0.55% or 0.41 to hit $74.86 a barrel, while the August Gold Futures contract fell 0.39% or 4.80 to trade at $1241.80 a troy ounce.

USD/ILS was down 0.03% to 3.6378, while EUR/ILS rose 0.10% to 4.2514.

The US Dollar Index Futures was down 0.14% at 94.44.

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Israel stocks lower at close of trade; TA 35 down 0.07%

– Israel stocks were lower after the close on Sunday, as losses in the Banking, Biomed and Technology sectors led shares lower.

At the close in Tel Aviv, the TA 35 lost 0.07%.

The best performers of the session on the TA 35 were Partner (TA:PTNR), which rose 7.00% or 98 points to trade at 1498 at the close. Meanwhile, Paz Oil (TA:PZOL) added 2.53% or 1270 points to end at 51450 and Bazan Oil Refineries Ltd (TA:ORL) was up 2.48% or 4.0 points to 165.0 in late trade.

The worst performers of the session were OPKO Health Inc (TA:OPK), which fell 6.65% or 150 points to trade at 2105 at the close. Teva Pharmaceutical Industries Ltd (TA:TEVA) declined 2.15% or 187 points to end at 8509 and Tower Semiconductor Ltd (TA:TSEM) was down 1.29% or 102 points to 7819.

Rising stocks outnumbered declining ones on the Tel Aviv Stock Exchange by 193 to 178 and 35 ended unchanged.

Shares in Tower Semiconductor Ltd (TA:TSEM) fell to 52-week lows; losing 1.29% or 102 to 7819.

Crude oil for September delivery was unchanged 0.00% or 0.00 to $69.95 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 0.55% or 0.41 to hit $74.86 a barrel, while the August Gold Futures contract fell 0.39% or 4.80 to trade at $1241.80 a troy ounce.

USD/ILS was down 0.03% to 3.6378, while EUR/ILS rose 0.10% to 4.2514.

The US Dollar Index Futures was down 0.14% at 94.44.

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United Arab Emirates stocks higher at close of trade; DFM General up 0.55%

– United Arab Emirates stocks were higher after the close on Sunday, as gains in the Insurance, Consumer Staples and Telecoms sectors led shares higher.

At the close in Dubai, the DFM General rose 0.55%, while the ADX General index gained 0.20%.

The best performers of the session on the DFM General were Takaful House (DU:DTKF), which rose 14.94% or 0.115 points to trade at 0.885 at the close. Meanwhile, Dubai Islamic Insurance Co. (DU:AMAN) added 8.58% or 0.060 points to end at 0.759 and Islamic Arab Insurance Company (DU:SALAMA) was up 5.46% or 0.022 points to 0.425 in late trade.

The worst performers of the session were Gulf General Investments Company (DU:GGIC), which fell 1.41% or 0.004 points to trade at 0.280 at the close. Amanat Holdings PJSC (DU:AMANT) declined 0.79% or 0.010 points to end at 1.260 and National Central Cooling Co. (DU:TABR) was down 0.57% or 0.010 points to 1.750.

The top performers on the ADX General were Methaq (AD:METH) which rose 6.49% to 0.820, Invest Bank AD (AD:INVB) which was up 3.33% to settle at 2.480 and Dana Gas (AD:DANA) which gained 2.88% to close at 1.070.

The worst performers were Em Driving Co (AD:DRIV) which was down 8.11% to 6.80 in late trade, Sharjah Islami (AD:SIB) which lost 2.44% to settle at 1.200 and International Holding Company PJSC (AD:IHC) which was down 2.26% to 1.30 at the close.

Rising stocks outnumbered declining ones on the Dubai Stock Exchange by 24 to 7 and 3 ended unchanged; on the Abu Dhabi, 16 rose and 10 declined, while 6 ended unchanged.

Shares in Em Driving Co (AD:DRIV) fell to 52-week lows; falling 8.11% or 0.60 to 6.80.

Crude oil for August delivery was up 0.33% or 0.23 to $70.56 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 0.55% or 0.41 to hit $74.86 a barrel, while the August Gold Futures contract fell 0.39% or 4.80 to trade at $1241.80 a troy ounce.

USD/AED was up 0.01% to 3.6732, while EUR/AED rose 0.12% to 4.2919.

The US Dollar Index Futures was down 0.14% at 94.44.

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United Arab Emirates stocks higher at close of trade; DFM General up 0.55%

– United Arab Emirates stocks were higher after the close on Sunday, as gains in the Insurance, Consumer Staples and Telecoms sectors led shares higher.

At the close in Dubai, the DFM General gained 0.55%, while the ADX General index added 0.20%.

The best performers of the session on the DFM General were Takaful House (DU:DTKF), which rose 14.94% or 0.115 points to trade at 0.885 at the close. Meanwhile, Dubai Islamic Insurance Co. (DU:AMAN) added 8.58% or 0.060 points to end at 0.759 and Islamic Arab Insurance Company (DU:SALAMA) was up 5.46% or 0.022 points to 0.425 in late trade.

The worst performers of the session were Gulf General Investments Company (DU:GGIC), which fell 1.41% or 0.004 points to trade at 0.280 at the close. Amanat Holdings PJSC (DU:AMANT) declined 0.79% or 0.010 points to end at 1.260 and National Central Cooling Co. (DU:TABR) was down 0.57% or 0.010 points to 1.750.

The top performers on the ADX General were Methaq (AD:METH) which rose 6.49% to 0.820, Invest Bank AD (AD:INVB) which was up 3.33% to settle at 2.480 and Dana Gas (AD:DANA) which gained 2.88% to close at 1.070.

The worst performers were Em Driving Co (AD:DRIV) which was down 8.11% to 6.80 in late trade, Sharjah Islami (AD:SIB) which lost 2.44% to settle at 1.200 and International Holding Company PJSC (AD:IHC) which was down 2.26% to 1.30 at the close.

Rising stocks outnumbered declining ones on the Dubai Stock Exchange by 24 to 7 and 3 ended unchanged; on the Abu Dhabi, 16 rose and 10 declined, while 6 ended unchanged.

Shares in Em Driving Co (AD:DRIV) fell to 52-week lows; losing 8.11% or 0.60 to 6.80.

Crude oil for August delivery was up 0.33% or 0.23 to $70.56 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 0.55% or 0.41 to hit $74.86 a barrel, while the August Gold Futures contract fell 0.39% or 4.80 to trade at $1241.80 a troy ounce.

USD/AED was up 0.01% to 3.6732, while EUR/AED rose 0.12% to 4.2919.

The US Dollar Index Futures was down 0.14% at 94.44.

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Gold / Silver / Copper Prices - Weekly Outlook: July 16 - 20

- The strong dollar looks likely to remain a significant headwind for gold this week, with bearish price action in the precious metal looking set to continue despite growing risk aversion.

Metals traders will be looking ahead to Federal Reserve Chairman Jerome Powell’s testimony on the economy and monetary policy to a Senate committee on Tuesday.

Powell will likely face questions on a wide range of economic issues, including the potential effect of the Trump administration’s trade policy on the economy.

Markets will be eyeing the outcome of a meeting between U.S. President Donald Trump and his Russian counterpart Vladimir Putin on Monday amid heightened geopolitical tensions.

Investors will also get updates on U.S. retail sales, housing data and industrial production this week.

Gold prices slid on Friday to settle at their lowest level in nearly a year as the dollar posted solid gains for the week.

Gold futures for August delivery settled down 0.39% at $1,241.80 on the Comex division of the New York Mercantile Exchange. For the week, prices were down 1%, the fourth weekly loss in five weeks.

The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, ended the week with gains of 0.71%. A stronger U.S. currency makes gold and other dollar-denominated commodities more expensive for holders of other currencies.

Demand for the dollar has been underpinned as recent economic data indicated that the Federal Reserve is likely to remain on track to raise interest rates twice more this year.

The U.S. currency has also been boosted as rising trade tensions fueled safe haven demand for the dollar and acted as a drag on other currencies.

The Trump administration said last week that it plans to impose 10% tariffs on an additional $200 billion in Chinese imports.

Gold prices have failed to garner any support despite growing risk aversion, suggesting the yellow metal is losing its safe haven status.

Elsewhere in precious metals trading, silver settled down 0.89% at $15.83 a troy ounce, for a weekly loss of 0.91%.

Platinum settled at $831.70, 1.74% lower for the day to end the week with a loss of 1.81%. It was the fifth consecutive weekly loss.

Among base metals, copper for July delivery ended at $2.777, off 0.14% for the day, to end the week down 1.28%.

Ahead of the coming week, has compiled a list of significant events likely to affect the markets.

Monday, July 16

Financial markets in Japan will be closed for a holiday.

China is to release data on second quarter growth, fixed asset investment and industrial production.

Canada is to report on foreign securities purchases.

The U.S. is to publish retail sales figures and a report on manufacturing activity in the New York region.

Tuesday, July 17

New Zealand is to release data on consumer price inflation.

The Reserve Bank of Australia is to publish the minutes of its latest policy setting meeting.

Bank of England Governor Mark Carney is to speak and the UK is to publish its latest employment report.

Canada is to report on manufacturing sales.

The U.S. is to publish data on industrial production.

Later in the day, Fed Chairman Jerome Powell is to testify on the monetary policy report before the Senate Banking Committee, in Washington.

Wednesday, July 18

The UK is to publish its latest inflation report.

The euro zone is to release revised inflation figures.

The U.S. is to publish report on building permits and housing starts. Meanwhile, Fed Chairman Jerome Powell is to testify on the monetary policy report for a second day Washington.

Thursday, July 19

Australia is to publish its latest employment report.

The UK is to release data on retail sales.

The U.S. is to publish reports on jobless claims and manufacturing activity in the Philadelphia region.

Friday, July 20

The UK is to report on public sector borrowing.

Finance ministers from the G20 group of nations are to hold the first day of a summit meeting in Buenos Aires.

Canada is to round up the week with data on retail sales and inflation.

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Weekly Outlook: July 16 - 20

- Investors will be looking ahead to Federal Reserve Chairman Jerome Powell’s testimony on the economy and monetary policy to a Senate committee on Tuesday.

Powell will likely face questions on a wide range of economic issues, including the potential effect of the Trump administration’s trade policy on the economy.

Markets will be eyeing the outcome of a meeting between U.S. President Donald Trump and his Russian counterpart Vladimir Putin on Monday amid heightened geopolitical tensions.

Investors will also get updates on U.S. retail sales, housing data and industrial production.

The dollar dipped against a currency basket on Friday, pulling away from two week highs, but still notched up a weekly gain and prospects for a stronger dollar remain intact for now.

The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was down 0.14% at 92.44 in late trade, after hitting a high of 95.00, the most since June 29. For the week, the index rose 0.71%.

Demand for the dollar has been underpinned as recent economic data indicated that the Federal Reserve is likely to remain on track to raise interest rates twice more this year.

The U.S. currency has also been boosted as rising trade tensions fueled safe haven demand for the dollar and acted as a drag on other currencies.

The Trump administration said last week that it plans to impose 10% tariffs on an additional $200 billion in Chinese imports.

The dollar eased from six-month highs against the yen on Friday, with USD/JPY dipping 0.12% to 112.38, off an earlier high of 112.79. For the week the paid climbed 1.76%.

The euro edged higher against the dollar in late trade, with EUR/USD rising 0.13% to 1.1686, up from an earlier two-week low of 1.1613. For the week the euro lost 0.52% against the dollar.

Sterling also pushed higher late Friday, with GBP/USD gaining 0.23% to trade at 1.3235. Despite Friday’s modest gains the pound still end the week down 0.44%.

Ahead of the coming week, has compiled a list of significant events likely to affect the markets.

Monday, July 16

Financial markets in Japan will be closed for a holiday.

China is to release data on second quarter growth, fixed asset investment and industrial production.

Canada is to report on foreign securities purchases.

The U.S. is to publish retail sales figures and a report on manufacturing activity in the New York region.

Tuesday, July 17

New Zealand is to release data on consumer price inflation.

The Reserve Bank of Australia is to publish the minutes of its latest policy setting meeting.

Bank of England Governor Mark Carney is to speak and the UK is to publish its latest employment report.

Canada is to report on manufacturing sales.

The U.S. is to publish data on industrial production.

Later in the day, Fed Chair Powell is to testify on the monetary policy report before the Senate Banking Committee, in Washington.

Wednesday, July 18

The UK is to publish its latest inflation report.

The euro zone is to release revised inflation figures.

The U.S. is to publish report on building permits and housing starts. Meanwhile, Fed Chairman Jerome Powell is to testify on the monetary policy report for a second day Washington.

Thursday, July 19

Australia is to publish its latest employment report.

The UK is to release data on retail sales.

The U.S. is to publish reports on jobless claims and manufacturing activity in the Philadelphia region.

Friday, July 20

The UK is to report on public sector borrowing.

Finance ministers from the G20 group of nations are to hold the first day of a summit meeting in Buenos Aires.

Canada is to round up the week with data on retail sales and inflation.

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Economic Calendar - Top 5 Things To Watch This Week

- Geopolitics could hang over the market in the coming week, as investors look ahead to an unprecedented meeting between U.S. President Donald Trump and Russian President Vladimir Putin on Monday.

The week ahead also marks the first big week of the second-quarter earnings season on Wall Street, with names like Netflix, Goldman Sachs, IBM and Microsoft set to report.

There will also be important testimony from Federal Reserve Chair Jerome Powell, who appears Tuesday and Wednesday before congressional panels on the economy and monetary policy.

Several important economic reports also expected, with retail sales on Monday topping the list.

Elsewhere, in Asia, China is slated to release what will be closely watched second-quarter growth data, amid warnings from analysts that the recent trade dispute with the U.S. could drag on economic activity.

Market focus is also largely attuned to the next potential steps of the U.S.-China trade conflict. The U.S. threatened 10% tariffs on an extra $200 billion worth of Chinese imports last week. However, a lack of response from China to these levies so far has assuaged some fears of conflict escalation.

Trade-war fears have been simmering for months, keeping market gains in check with investors jittery over the prospects of further escalation in tensions between the world's two largest economies having an impact on economic growth.

Ahead of the coming week, has compiled a list of the five biggest events on the economic calendar that are most likely to affect the markets.

1. Trump-Putin Summit

U.S. President Donald Trump and Russian President Vladimir Putin hold their first summit in Helsinki, Finland on Monday.

Neither side expects the one-day summit to yield major policy breakthroughs given the battered state of U.S.-Russia relations, which are languishing at their lowest ebb since the Cold War.

Geopolitical analysts expect Putin to urge Trump to soften sanctions imposed over Ukraine, while Trump has said he will press Putin on everything from allegations of meddling in the 2016 U.S. election to the war in Syria.

On Friday, some lawmakers pressed Trump to cancel the summit after Special Counsel Robert Mueller indicted 12 Russians for interfering in the general election.

Meanwhile, European leaders will be watching the outcome closely, especially after Trump called Germany a "captive" of Russia at a testy NATO summit in Belgium last week, due to its plans for a major new gas pipeline.

2. U.S. Q2 Earnings Season Kicks Into High Gear

There are about 60 S&P 500 companies reporting earnings in the week ahead, including seven Dow stocks, in what will be the first big week of the second-quarter earnings season.

Bank of America (NYSE:BAC) and BlackRock (NYSE:BLK) report Monday, along with tech darling Netflix (NASDAQ:NFLX).

Tuesday sees Goldman Sachs (NYSE:GS), Johnson & Johnson (NYSE:JNJ) and UnitedHealth (NYSE:UNH) post results.

On Wednesday, Morgan Stanley (NYSE:MS), American Express (NYSE:AXP) and IBM (NYSE:IBM) report earnings.

Microsoft (NASDAQ:MSFT), Advanced Micro Devices (NASDAQ:AMD) and Blackstone (NYSE:BX) are on the docket Thursday.

Finally, corporate results from General Electric (NYSE:GE) and Honeywell (NYSE:HON) round up the week on Friday.

Analysts have said they are expecting another strong quarter, with earnings growth at around 21%, according to Thomson Reuters data. However, the season is being clouded by trade tensions and their impact on corporate profits, with analysts likely to scrutinize outlook statements to see if companies discuss the impact of Trump's trade policies on future spending plans, input costs and profitability.

3. Fed Chair Powell Testifies

Federal Reserve Chair Jerome Powell is set to deliver his semi-annual monetary policy testimony on the economy before Senate and House committees in Washington DC.

Powell is scheduled to testify on the economy before the Senate Banking Committee at 10:00AM ET Tuesday. On Wednesday, he will appear in front the House Financial Services Committee also at 10AM ET.

Text of the testimony will be released 90 minutes before he starts speaking.

Powell's comments will be monitored closely for further clues on when and how fast the Fed will raise interest rates.

The Fed's semi-annual report on monetary policy, sent to Congress last Friday, pointed to "solid" U.S. economic growth and reiterated its plans to continue raising interest rates gradually.

4. U.S. Retail Sales

The Commerce Department will publish data on retail sales for June at 8:30AM ET Monday.

The consensus forecast is that the report will show retail sales rose 0.4% last month, moderating from a gain of 0.8% in May.

Excluding the automobile sector, sales are expected to increase 0.4%, after a 0.9% rise a month earlier.

Rising retail sales over time correlate with stronger economic growth, while weaker sales signal a declining economy. Consumer spending accounts for as much as 70% of U.S. economic growth.

Besides the retail sales report, this week's calendar also features U.S. data on building permits, housing starts, industrial production, as well as surveys on manufacturing conditions in the Philadelphia and New York regions.

On the central bank front, the Federal Reserve's Beige Book will be in focus.

The U.S. central bank hiked interest rates last month for the second time this year and has projected two more rate increases by year-end.

Traders are currently pricing in around an 85% chance of a rate hike in September, according to ’s Fed Rate Monitor Tool. Odds of a fourth rate hike by December was seen at about 55%.

5. China Q2 GDP

China will be the first major economy to report second-quarter growth data when it publishes its GDP numbers at around 0200GMT on Monday (10:00PM ET Sunday).

The report is expected to show the world's second-largest economy grew 6.7% in the April-June period, moderating slightly from growth of 6.8% in the first quarter.

The Asian nation will also publish data on June industrial production, fixed asset investment and retail sales along with the GDP report.

China, the world's largest exporter, has so far escaped any major blow to its foreign trade sector despite rising trade tensions with the U.S.

Washington and Beijing appeared increasingly headed toward open trade conflict after several rounds of negotiations failed to resolve U.S. complaints over Chinese industrial policies, lack of market access in China and a $375 billion U.S. trade deficit.

Stay up-to-date on all of this week's economic events by visiting: http://www.investing.com/economic-calendar/

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Peru stocks higher at close of trade; S&P Lima General up 0.10%

– Peru stocks were higher after the close on Friday, as gains in the Non-Metal Minerals, Industrials and Services sectors led shares higher.

At the close in Lima, the S&P Lima General rose 0.10%.

The best performers of the session on the S&P Lima General were Cerro Verde (LM:CVE), which rose 4.65% or 1.000 points to trade at 22.500 at the close. Meanwhile, Grana Y Monter (LM:GRA) added 3.90% or 0.090 points to end at 2.400 and Edegel (LM:EDE) was up 3.02% or 0.060 points to 2.050 in late trade.

The worst performers of the session were Candente Copper (LM:DNT), which fell 1.79% or 0.0010 points to trade at 0.0550 at the close. Aceros Arequip (LM:AREi) declined 1.33% or 0.010 points to end at 0.740 and Credicorp (LM:BAP) was down 0.87% or 2.00 points to 227.00.

Rising stocks outnumbered declining ones on the Lima Stock Exchange by 10 to 8 and 18 ended unchanged.

Crude oil for August delivery was up 0.33% or 0.23 to $70.56 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 0.55% or 0.41 to hit $74.86 a barrel, while the August Gold Futures contract fell 0.39% or 4.80 to trade at $1241.80 a troy ounce.

USD/PEN was down 0.13% to 3.2687, while EUR/PEN fell 0.18% to 3.8173.

The US Dollar Index Futures was down 0.14% at 94.44.

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Mexico stocks lower at close of trade; S&P/BMV IPC down 0.60%

– Mexico stocks were lower after the close on Friday, as losses in the Materials, Telecoms Services and Consumer Goods&Services sectors led shares lower.

At the close in Mexico, the S&P/BMV IPC lost 0.60%.

The best performers of the session on the S&P/BMV IPC were El Puerto De Liverpool Sab De CV (MX:LIVEPOLC1), which rose 2.43% or 3.28 points to trade at 138.14 at the close. Meanwhile, VOLARIS A (MX:VOLARA) added 2.08% or 0.25 points to end at 12.25 and Alfa, S.A.B. De C.V. (MX:ALFAA) was up 2.05% or 0.460 points to 22.930 in late trade.

The worst performers of the session were GMexico Transportes SA de CV (MX:GMXT), which fell 4.02% or 1.180 points to trade at 28.440 at the close. Grupo Aeroportuario Del CentroNorte (MX:OMAB) declined 2.32% or 2.540 points to end at 107.120 and Grupo Elektra , S.A.B. De C.V. (MX:ELEKTRA) was down 2.14% or 13.23 points to 606.34.

Falling stocks outnumbered advancing ones on the Mexico Stock Exchange by 153 to 137 and 5 ended unchanged.

Gold Futures for August delivery was down 0.43% or 5.40 to $1241.20 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August rose 0.36% or 0.25 to hit $70.58 a barrel, while the September Brent oil contract rose 0.54% or 0.40 to trade at $74.85 a barrel.

USD/MXN was down 0.42% to 18.8970, while EUR/MXN fell 0.32% to 22.0821.

The US Dollar Index Futures was down 0.13% at 94.45.

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Canada stocks lower at close of trade; S&P/TSX Composite down 0.14%

– Canada stocks were lower after the close on Friday, as losses in the Healthcare, Clean Technology and Real Estate sectors led shares lower.

At the close in Toronto, the S&P/TSX Composite lost 0.14%.

The best performers of the session on the S&P/TSX Composite were CES Energy Solutions Corp (TO:CEU), which rose 3.24% or 0.150 points to trade at 4.780 at the close. Meanwhile, PrairieSky Royalty Ltd (TO:PSK) added 2.85% or 0.70 points to end at 25.22 and Birchcliff Energy Ltd . (TO:BIR) was up 2.81% or 0.14 points to 5.13 in late trade.

The worst performers of the session were Alaris Royalty Corp . (TO:AD), which fell 3.68% or 0.600 points to trade at 15.710 at the close. Cascades Inc . (TO:CAS) declined 3.68% or 0.44 points to end at 11.52 and Aurora Cannabis Inc (TO:ACB) was down 3.47% or 0.310 points to 8.620.

Rising stocks outnumbered declining ones on the Toronto Stock Exchange by 566 to 506 and 131 ended unchanged.

Shares in Cascades Inc. (TO:CAS) fell to 52-week lows; falling 3.68% or 0.44 to 11.52.

The S&P/TSX 60 VIX, which measures the implied volatility of S&P/TSX Composite options, was up 6.07% to 13.46.

Gold Futures for August delivery was down 0.42% or 5.20 to $1241.40 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August rose 0.47% or 0.33 to hit $70.66 a barrel, while the September Brent oil contract rose 0.60% or 0.45 to trade at $74.90 a barrel.

CAD/USD was down 0.03% to 0.7600, while CAD/EUR fell 0.14% to 0.6505.

The US Dollar Index Futures was down 0.12% at 94.46.

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Brazil stocks higher at close of trade; Bovespa up 0.98%

– Brazil stocks were higher after the close on Friday, as gains in the Financials, Real Estate and Consumption sectors led shares higher.

At the close in Sao Paulo, the Bovespa rose 0.98% to hit a new 1-month high.

The best performers of the session on the Bovespa were Raia Drogasil SA (SA:RADL3), which rose 5.13% or 3.65 points to trade at 74.75 at the close. Meanwhile, Multiplan SA (SA:MULT3) added 4.50% or 2.55 points to end at 59.24 and Cvc Brasil ON (SA:CVCB3) was up 4.37% or 1.81 points to 43.25 in late trade.

The worst performers of the session were Ultrapar Participacoes SA (SA:UGPA3), which fell 4.94% or 2.24 points to trade at 43.10 at the close. Embraer SA (SA:EMBR3) declined 4.62% or 1.00 points to end at 20.66 and Cia Paranaense de Energia (SA:CPLE6) was down 1.89% or 0.41 points to 21.32.

Rising stocks outnumbered declining ones on the BM&FBovespa Stock Exchange by 252 to 183 and 27 ended unchanged.

Shares in Ultrapar Participacoes SA (SA:UGPA3) fell to 5-year lows; falling 4.94% or 2.24 to 43.10.

The CBOE Brazil Etf Volatility, which measures the implied volatility of Bovespa options, was up 1.29% to 32.96.

Gold Futures for August delivery was down 0.40% or 5.00 to $1241.60 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August rose 0.44% or 0.31 to hit $70.64 a barrel, while the September US coffee C contract fell 1.57% or 1.75 to trade at $109.97 .

USD/BRL was down 0.72% to 3.8544, while EUR/BRL fell 0.60% to 4.5037.

The US Dollar Index Futures was down 0.13% at 94.45.

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Colombia stocks higher at close of trade; COLCAP up 0.08%

– Colombia stocks were higher after the close on Friday, as gains in the Services, Industrials and Investment sectors led shares higher.

At the close in Colombia, the COLCAP gained 0.08%.

The best performers of the session on the COLCAP were Conconcret (CN:CIC), which rose 3.81% or 29.0 points to trade at 790.0 at the close. Meanwhile, Avianca Holdings Pf (CN:AVT_p) added 0.86% or 20.0 points to end at 2350.0 and Interconnection Electric SA ESP (CN:ISA) was up 0.57% or 80.0 points to 14020.0 in late trade.

The worst performers of the session were Bancolombia Pf (CN:BIC_p1), which fell 0.85% or 300.0 points to trade at 35100.0 at the close. Cementos Argos Pf (CN:CCB_p) added 0.12% or 10.0 points to end at 8380.0 and Grupoaval (CN:GAA) was down 0.83% or 10.0 points to 1190.0.

Rising stocks outnumbered declining ones on the Colombia Stock Exchange by 16 to 11 and 6 ended unchanged.

US coffee C for September delivery was down 1.57% or 1.75 to $109.97 . Elsewhere in commodities trading, US cocoa for delivery in September rose 0.99% or 24.50 to hit $2506.00 , while the August Gold Futures contract fell 0.42% or 5.20 to trade at $1241.40 a troy ounce.

USD/COP was down 0.57% to 2859.00, while BRL/COP rose 0.26% to 743.00.

The US Dollar Index Futures was down 0.12% at 94.46.

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Top 5 Things That Moved Markets This Past Week

– Top 5 things that rocked U.S. markets this week:

1. Amazon Jumps for the Week; Netflix Sees Earnings Jitters

Wall Street ended the week higher, with all the major indices closing in the green.

Tech stocks were winners for the week. The tech-heavy Nasdaq finished up more than 1% and the S&P Technology Index rose more than 2%.

Among the big winners in tech land was Amazon (NASDAQ:AMZN). The stock got a boost on a price target raise by Canaccord to $2,000 from $1,800 Thursday and again when S.G. Cowen raised its price target on the stock to $2,100 from $2,000 Friday.

In the rest of the FAANG stocks, Alphabet’s Google (NASDAQ:GOOGL), Apple (NASDAQ:AAPL) and Facebook (NASDAQ:FB) all closed up for the week.

But Netflix (NASDAQ:NFLX), which reports earnings after the bell Monday, ended in the red, hurt by Friday selloff. There are likely a few jitters about what numbers Netflix would have to report to spur more buying with the stock up around 100% year to date.

2. Inflation Data Lets Fed Stay Steady on Rates

Inflation data was paramount during the week, especially after last Friday’s employment report gave mixed signals of strong continued job creation but weaker-than-expected wage growth.

The numbers grabbing the headlines were the levels in wholesale and retail inflation not seen for a while.

The producer price index (PPI) was up 3.4% in June year over year, the highest level in 6-1/2 years. The June consumer price index (CPI) posted a year-over-year rise of 2.9%, the largest rise in six years.

But the stock market tends to focus more on the month-on-month numbers and those figures were mixed. CPI was in line with expectations month over month, while core CPI, which excludes volatile food and energy prices, was up less than expected. PPI and core PPI came in just a little hotter than expectations.

So, while prices are definitely rising, the economy is so far avoiding the spikes that would fuel fears over interest rates rising quickly.

More significant for those zoned in on the Fed’s rate-hike path than the inflation data was likely the shift of Chicago Fed President Charles Evans comments in a wide-ranging interview with The Wall Street Journal that the economy could handle a move to neutral rates. That was interpreted to mean he’d support two rate-hikes this year.

There is currently a more-than-80% of a rate hike in September and a more-than-55% chance of one in December, according to ’s Rate Monitor Tool.

3. Delta Results Steal the Spotlight From Banks

The bank earnings were supposed be the highlight of the week. But the mixed results from Citigroup (NYSE:C), JPMorgan Chase (NYSE:JPM) and Wells Fargo (NYSE:WFC) failed to spur anything but a muted reaction from the market Friday.

Instead, Delta Air Lines (NYSE:DAL) likely offered the most insight for investors. Shares climbed Thursday after the carrier beat second-quarter profit expectations thanks to fair increases.

But it also highlighted a jump in fuel costs of nearly 40% in the quarter, a $2 billion increase.

That’s trouble for the airline sector as whole, which is already struggling in 2018. The Dow Transports are off about 0.6% year to date. But there could be more weakness ahead if fuel costs remain high and companies like FedEx (NYSE:FDX) and UPS (NYSE:UPS) are hit by trade battles.

4. Trade War Jitters Abate (Somewhat)

Until earnings arrived in earnest Friday, the summer, low-volume market has been especially susceptible to the vagaries of trade tensions.

The week started off with more saber rattling between the U.S. and its trade partners. The U.S. released a list on Tuesday of $200 billion more in Chinese goods that it would assess for tariffs of 10%. China again promised retaliation.

That same day, ahead of his trip to Europe, President Donald Trump tweeted that the U.S. loses $151 billion on trade with the EU and that the single bloc charges the U.S. big tariffs and enacts trade barriers.

But worries were assuaged on Thursday when Treasury Secretary Steve Mnuchin said there was a possibility that the U.S. and China could restart trade talks. And the president, while hammering allies of NATO spending, has not made any remarks about specific trade action against Europe.

The rosier outlook on trade was reflected in the performance of Boeing (NYSE:BA), which is particularly sensitive to trade battles given the amount of its overseas business.

Boeing was one of the best Dow performers for the week.

5. Oil Holds Above $70

Oil prices fell for the week, but energy stock bulls will be heartened by crude oil’s ability to stay above $70 mark on Friday.

Crude oil futures for August delivery settled at $71.01 per barrel, up 1% on the day.

Oil did dip below $70 in morning trading, rose steadily through the rest of the day, then sold off late. The latest Baker Hughes rig count showing no change added some support to prices.

For the week, mixed signals on supplies scaled back investor expectations for a global supply shortage as Libya resumed exports, U.S. supplies fell more than expected, while bets on a significant loss of Iranian crude were trimmed.

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Gold Prices On-Track for Lowest Settlement in 2-Weeks; Metal Prices Steady

– Gold prices hovered above fresh seven-month lows Friday, as a weaker dollar failed to lift sentiment, while other metals steadied as trade war concerns eased.

Gold futures for August delivery on the Comex division of the New York Mercantile Exchange fell by $5.30, or 0.43%, to $1,241.30 a troy ounce.

Gold prices resumed their decline and remained on track for their lowest settlement in nearly two weeks as easing trade-war concerns offset the dollar's retreat against its rivals from a two-week high.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, rose by 0.01% to 94.58, but remained well below its intraday of high of 95.00.

Dollar-denominated commodities such as gold are sensitive to moves in the dollar. A rise in the dollar makes gold more expensive for holders of foreign currency, reducing demand for the precious metal.

Downside momentum in other metals was somewhat limited by easing trade-war concerns as traders brushed off the possibility of an uptick in China-U.S. trade tensions, despite data showing China's surplus with the U.S. rose to record $29 billion.

The sharp uptick in exports, which significantly boosted the surplus, was said to be unsustainable, and likely the result of Chinese exporters rushing shipments before U.S. tariffs went into effect in the first week of July.

Copper prices, fell 0.07% to $2.78, while zinc prices settled 0.08% lower at 2,581.25

Aluminium prices fell 0.17% to 2,039.75, while Nickel futures settled nearly 2% lower at 13,955.00.

Silver futures fell 0.98% to $15.82 a troy ounce, while platinum futures fell 1.89% to $830.40 to near 10-year lows on expectations of lower demand from the automotive sector amid potential tariffs that could hurt carmakers.

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Nigeria stocks higher at close of trade; NSE 30 up 0.59%

– Nigeria stocks were higher after the close on Friday, as gains in the Oil&Gas, Food, Beverages&Tobacco and Banking sectors led shares higher.

At the close in Lagos, the NSE 30 gained 0.59%.

The best performers of the session on the NSE 30 were Wapco (LAGOS:WAPCO), which rose 8.70% or 3.00 points to trade at 35.55 at the close. Meanwhile, Union Bank LG (LAGOS:UBN) added 3.45% or 0.20 points to end at 5.80 and Dangsugar (LAGOS:DANGSUG) was up 2.94% or 0.50 points to 17.50 in late trade.

The worst performers of the session were Pz Cussons LG (LAGOS:PZ), which fell 9.74% or 1.85 points to trade at 17.15 at the close. Skye Bank (LAGOS:SKYEBAN) declined 3.08% or 0.020 points to end at 0.650 and Uacn Prop (LAGOS:UACN) was down 1.48% or 0.20 points to 13.30.

Falling stocks outnumbered advancing ones on the Lagos by 61 to 29 and 17 ended unchanged.

Shares in Pz Cussons LG (LAGOS:PZ) fell to 52-week lows; down 9.74% or 1.85 to 17.15.

Crude oil for August delivery was up 1.00% or 0.70 to $71.03 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 1.10% or 0.82 to hit $75.27 a barrel, while the August Gold Futures contract fell 0.38% or 4.70 to trade at $1241.90 a troy ounce.

EUR/NGN was down 0.07% to 355.640, while USD/NGN unchanged 0.00% to 361.000.

The US Dollar Index Futures was up 0.01% at 94.58.

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Dollar Retreats From 2-Week Highs as GBP/USD Rebounds

– The dollar retreated from a two-week high against its rivals Friday, pressured by a rebound in the pound from an 11-day low.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, fell by 0.01% to 94.56, after hitting a two-week high of 95.00.

GBP/USD rebounded from an 11-day low of $1.3103 to $1.3213, after U.S. President Donald Trump walked back his criticism of British Prime Minister Theresa May, and claimed a U.K.-U.S. trade deal was still possible.

That eased investor fears that Britain would struggle to secure a trade deal with the United States as Trump had reportedly told the Sun newspaper on Thursday that May's Brexit plan may "kill" Britain's chances of such a deal.

Elsewhere, China's trade surplus with the U.S. hit a record of nearly $29 billion, raising the risk of deepening its trade-related rift with the United States.

That, however, failed to trigger significant demand for safe-haven yen and Swiss franc as the latter fell modestly against the greenback.

USD/JPY fell 0.07% to Y112.44, while USD/CHF rose 0.03% to 1.0027.

The Federal Reserve's release of a monetary policy report to Congress in advance of Fed chairman Powell's testimony before the Senate due Tuesday, also had a muted impact on the dollar.

The Fed gave a positive assessment of the U.S. economy, insisting that strong labor markets and inflation would support the central bank's plan to continue with gradual rate hikes.

EUR/USD fell 0.02% to $1.1669, while the USD/CAD rose 0.11% to C$1.3169, as gains in the latter pair were limited by rising oil prices – a boon for the loonie.

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Portugal stocks lower at close of trade; PSI 20 down 0.26%

– Portugal stocks were lower after the close on Friday, as losses in the Utilities, Technology and Consumer Goods sectors led shares lower.

At the close in Lisbon, the PSI 20 lost 0.26%.

The best performers of the session on the PSI 20 were F.Rama (LS:RAMA), which rose 6.32% or 0.600 points to trade at 10.100 at the close. Meanwhile, J. Martins SGPS (LS:JMT) added 0.72% or 0.0900 points to end at 12.6700 and CTT Correios de Portugal SA (LS:CTT) was up 0.55% or 0.0160 points to 2.9060 in late trade.

The worst performers of the session were Pharol SGPS SA (LS:PHRA), which fell 2.20% or 0.0055 points to trade at 0.2440 at the close. EDP (LS:EDP) declined 1.17% or 0.0410 points to end at 3.4600 and The Navigator Company SA (LS:NVGR) was down 1.07% or 0.0550 points to 5.0750.

Falling stocks outnumbered advancing ones on the Lisbon Stock Exchange by 22 to 9 and 6 ended unchanged.

Brent oil for September delivery was up 1.22% or 0.91 to $75.36 a barrel. Elsewhere in commodities trading, Crude oil for delivery in August rose 1.00% or 0.70 to hit $71.03 a barrel, while the August Gold Futures contract fell 0.35% or 4.40 to trade at $1242.20 a troy ounce.

EUR/USD was up 0.01% to 1.1672, while EUR/GBP fell 0.07% to 0.8831.

The US Dollar Index Futures was down 0.01% at 94.56.

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Finland stocks lower at close of trade; OMX Helsinki 25 down 0.79%

– Finland stocks were lower after the close on Friday, as losses in the Telecoms, Utilities and Basic Materials sectors led shares lower.

At the close in Helsinki, the OMX Helsinki 25 fell 0.79%.

The best performers of the session on the OMX Helsinki 25 were Wartsila Oyj Abp (HE:WRT1V), which rose 2.44% or 0.40 points to trade at 16.80 at the close. Meanwhile, Outotec Oyj (HE:OTE1V) added 0.90% or 0.058 points to end at 6.518 and Konecranes ABP (HE:KCRA) was up 0.60% or 0.21 points to 35.15 in late trade.

The worst performers of the session were Elisa Oyj (HE:ELISA), which fell 9.22% or 3.82 points to trade at 37.60 at the close. Stora Enso Oyj R (HE:STERV) declined 1.57% or 0.265 points to end at 16.575 and Huhtamaki Oyj (HE:HUH1V) was down 1.55% or 0.48 points to 30.53.

Falling stocks outnumbered advancing ones on the Helsinki Stock Exchange by 71 to 64 and 24 ended unchanged.

Brent oil for September delivery was up 1.22% or 0.91 to $75.36 a barrel. Elsewhere in commodities trading, Crude oil for delivery in August rose 0.87% or 0.61 to hit $70.94 a barrel, while the August Gold Futures contract fell 0.36% or 4.50 to trade at $1242.10 a troy ounce.

EUR/USD was down 0.01% to 1.1670, while EUR/GBP fell 0.06% to 0.8832.

The US Dollar Index Futures was up 0.01% at 94.58.

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Netherlands stocks higher at close of trade; AEX up 0.56%

– Netherlands stocks were higher after the close on Friday, as gains in the Healthcare, Industrials and Oil&Gas sectors led shares higher.

At the close in Amsterdam, the AEX added 0.56%.

The best performers of the session on the AEX were Randstad Holding NV (AS:RAND), which rose 1.78% or 0.90 points to trade at 51.44 at the close. Meanwhile, Aegon NV (AS:AEGN) added 1.13% or 0.058 points to end at 5.190 and Aalberts Industries NV (AS:AALB) was up 1.13% or 0.45 points to 40.42 in late trade.

The worst performers of the session were Altice NV (AS:ATCA), which fell 1.31% or 0.04 points to trade at 3.17 at the close. Koninklijke KPN NV (AS:KPN) declined 0.77% or 0.019 points to end at 2.464 and Philips Lighting NV (AS:LIGHT) was down 0.36% or 0.08 points to 21.96.

Rising stocks outnumbered declining ones on the Amsterdam Stock Exchange by 85 to 38 and 12 ended unchanged.

The AEX Volatility, which measures the implied volatility of AEX options, was down 1.86% to 11.43.

Crude oil for August delivery was up 0.91% or 0.64 to $70.97 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 1.25% or 0.93 to hit $75.38 a barrel, while the August Gold Futures contract fell 0.36% or 4.50 to trade at $1242.10 a troy ounce.

EUR/USD was down 0.02% to 1.1669, while EUR/GBP fell 0.06% to 0.8832.

The US Dollar Index Futures was up 0.02% at 94.59.

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France stocks higher at close of trade; CAC 40 up 0.43%

– France stocks were higher after the close on Friday, as gains in the Consumer Goods, Consumer Services and Industrials sectors led shares higher.

At the close in Paris, the CAC 40 rose 0.43%, while the SBF 120 index added 0.32%.

The best performers of the session on the CAC 40 were Compagnie Generale des Etablissements Michelin SCA (PA:MICP), which rose 2.59% or 2.70 points to trade at 106.80 at the close. Meanwhile, LVMH Moet Hennessy Louis Vuitton SE (PA:LVMH) added 2.28% or 6.60 points to end at 295.95 and Airbus Group SE (PA:AIR) was up 2.15% or 2.26 points to 107.40 in late trade.

The worst performers of the session were Orange SA (PA:ORAN), which fell 0.78% or 0.12 points to trade at 14.60 at the close. Vinci SA (PA:SGEF) declined 0.65% or 0.56 points to end at 85.66 and Sanofi SA (PA:SASY) was down 0.44% or 0.32 points to 71.91.

The top performers on the SBF 120 were SES (PA:SESFd) which rose 3.95% to 17.73, Worldline SA (PA:WLN) which was up 3.06% to settle at 52.150 and CGG SA (PA:GEPH) which gained 2.94% to close at 2.314.

The worst performers were Altran Technologies (PA:ALTT) which was down 27.20% to 8.721 in late trade, Rexel (PA:RXL) which lost 3.90% to settle at 11.96 and Iliad (PA:ILD) which was down 1.78% to 138.05 at the close.

Rising stocks outnumbered declining ones on the Paris Stock Exchange by 309 to 260 and 100 ended unchanged.

Shares in Airbus Group SE (PA:AIR) rose to all time highs; gaining 2.15% or 2.26 to 107.40. Shares in Altran Technologies (PA:ALTT) fell to 3-years lows; down 27.20% or 3.259 to 8.721.

The CAC 40 VIX, which measures the implied volatility of CAC 40 options, was down 5.88% to 11.65.

Gold Futures for August delivery was down 0.35% or 4.40 to $1242.20 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August rose 0.91% or 0.64 to hit $70.97 a barrel, while the September Brent oil contract rose 1.25% or 0.93 to trade at $75.38 a barrel.

EUR/USD was down 0.02% to 1.1669, while EUR/GBP fell 0.06% to 0.8832.

The US Dollar Index Futures was up 0.01% at 94.58.

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Belgium stocks higher at close of trade; BEL 20 up 0.09%

– Belgium stocks were higher after the close on Friday, as gains in the Utilities, Financials and Healthcare sectors led shares higher.

At the close in Brussels, the BEL 20 added 0.09%.

The best performers of the session on the BEL 20 were Galapagos NV (AS:GLPG), which rose 1.08% or 0.920 points to trade at 86.360 at the close. Meanwhile, Solvay SA (BR:SOLB) added 0.80% or 0.85 points to end at 107.20 and KBC (BR:KBC) was up 0.55% or 0.360 points to 65.860 in late trade.

The worst performers of the session were Telenet Group (BR:TNET), which fell 5.17% or 2.30 points to trade at 42.16 at the close. Proximus NV (BR:PROX) declined 1.84% or 0.38 points to end at 20.31 and bpost NV (BR:BPOST) was down 0.73% or 0.09 points to 12.32.

Rising stocks outnumbered declining ones on the Brussels Stock Exchange by 56 to 51 and 21 ended unchanged.

Shares in bpost NV (BR:BPOST) fell to all time lows; falling 0.73% or 0.09 to 12.32.

Gold Futures for August delivery was down 0.34% or 4.20 to $1242.40 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August rose 0.91% or 0.64 to hit $70.97 a barrel, while the September Brent oil contract rose 1.18% or 0.88 to trade at $75.33 a barrel.

EUR/USD was down 0.02% to 1.1669, while EUR/GBP fell 0.10% to 0.8828.

The US Dollar Index Futures was up 0.01% at 94.58.

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Germany stocks mixed at close of trade; DAX up 0.38%

– Germany stocks were mixed after the close on Friday, as gains in the Food&Beverages, Transportation&Logistics and Technology sectors led shares higher while losses in the Retail, Telecoms and Utilities sectors led shares lower.

At the close in Frankfurt, the DAX added 0.38%, while the MDAX index gained 0.37%, and the TecDAX index fell 0.12%.

The best performers of the session on the DAX were Linde AG 1 (DE:LIN1), which rose 1.50% or 3.2000 points to trade at 216.0000 at the close. Meanwhile, Deutsche Post AG NA O.N. (DE:DPWGn) added 1.48% or 0.410 points to end at 28.060 and Adidas AG (DE:ADSGN) was up 1.32% or 2.45 points to 187.75 in late trade.

The worst performers of the session were Fresenius SE&Co KGAA O.N. (DE:FREG), which fell 3.08% or 2.120 points to trade at 66.600 at the close. Thyssenkrupp AG O.N. (DE:TKAG) declined 1.34% or 0.280 points to end at 20.620 and E.ON SE NA (DE:EONGn) was down 0.81% or 0.078 points to 9.601.

The top performers on the MDAX were Norma Group AG NA O.N. (DE:NOEJ) which rose 2.47% to 58.100, Osram Licht AG (DE:OSRn) which was up 2.41% to settle at 33.98 and Airbus Group SE (DE:AIRG) which gained 2.07% to close at 107.36.

The worst performers were Zalando SE (DE:ZALG) which was down 2.83% to 47.37 in late trade, Wacker Chemie O.N. (DE:WCHG) which lost 1.50% to settle at 115.00 and Leoni AG (DE:LEOGn) which was down 1.30% to 41.110 at the close.

The top performers on the TecDAX were Aixtron SE (DE:AIXGn) which rose 6.71% to 11.717, Siltronic AG (DE:WAFGn) which was up 3.31% to settle at 126.500 and Cancom SE O.N. (DE:COKG) which gained 2.93% to close at 96.500.

The worst performers were Siemens Healthineers AG (DE:SHLG) which was down 2.19% to 37.81 in late trade, Software AG (DE:SOWGn) which lost 2.11% to settle at 40.830 and SLM Solutions Group AG (DE:AM3D) which was down 1.74% to 31.00 at the close.

Rising stocks outnumbered declining ones on the Frankfurt Stock Exchange by 429 to 272 and 79 ended unchanged.

Shares in Linde AG 1 (DE:LIN1) rose to all time highs; up 1.50% or 3.2000 to 216.0000. Shares in Airbus Group SE (DE:AIRG) rose to all time highs; gaining 2.07% or 2.18 to 107.36. Shares in Leoni AG (DE:LEOGn) fell to 52-week lows; falling 1.30% or 0.540 to 41.110.

The DAX volatility index, which measures the implied volatility of DAX options, was down 4.30% to 14.12.

Gold Futures for August delivery was down 0.35% or 4.40 to $1242.20 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August rose 0.80% or 0.56 to hit $70.89 a barrel, while the September Brent oil contract rose 1.25% or 0.93 to trade at $75.38 a barrel.

EUR/USD was down 0.04% to 1.1666, while EUR/GBP fell 0.10% to 0.8828.

The US Dollar Index Futures was up 0.02% at 94.59.

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U.K. stocks higher at close of trade; Investing.com United Kingdom 100 up 0.12%

– U.K. stocks were higher after the close on Friday, as gains in the Industrial Metals&Mining, Software&Computer Services and Industrial Engineering sectors led shares higher.

At the close in London, the United Kingdom 100 added 0.12%.

The best performers of the session on the United Kingdom 100 were Micro Focus International PLC (LON:MCRO), which rose 4.67% or 57.00 points to trade at 1278.50 at the close. Meanwhile, DCC plc (LON:DCC) added 3.70% or 255.0 points to end at 7155.0 and Burberry Group PLC (LON:BRBY) was up 2.53% or 52.00 points to 2108.00 in late trade.

The worst performers of the session were Randgold Resources Ltd (LON:RRS), which fell 1.65% or 92.00 points to trade at 5480.00 at the close. Mediclinic International PLC (LON:MDCM) declined 1.60% or 8.60 points to end at 527.60 and Merlin Entertainments PLC (LON:MERL) was down 1.17% or 4.80 points to 404.70.

Rising stocks outnumbered declining ones on the London Stock Exchange by 1140 to 813 and 334 ended unchanged.

Shares in Randgold Resources Ltd (LON:RRS) fell to 52-week lows; falling 1.65% or 92.00 to 5480.00.

Gold Futures for August delivery was down 0.30% or 3.70 to $1242.90 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August rose 0.80% or 0.56 to hit $70.89 a barrel, while the September Brent oil contract rose 1.22% or 0.91 to trade at $75.36 a barrel.

GBP/USD was up 0.08% to 1.3216, while EUR/GBP fell 0.08% to 0.8830.

The US Dollar Index Futures was up 0.01% at 94.58.

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Turkey stocks higher at close of trade; BIST 100 up 0.36%

– Turkey stocks were higher after the close on Friday, as gains in the Tourism, Transport and Food&Beverages sectors led shares higher.

At the close in Istanbul, the BIST 100 gained 0.36%.

The best performers of the session on the BIST 100 were Tekfen Holding AS (IS:TKFEN), which rose 6.21% or 1.10 points to trade at 18.82 at the close. Meanwhile, Ulker Biskuvi Sanayi AS (IS:ULKER) added 5.21% or 0.85 points to end at 17.16 and Alcatel Lucent Teletas Telekomunikasyon AS (IS:ALCTL) was up 4.47% or 0.230 points to 5.380 in late trade.

The worst performers of the session were Arcelik AS (IS:ARCLK), which fell 5.37% or 0.70 points to trade at 12.33 at the close. Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS Class D (IS:KRDMD) declined 4.45% or 0.200 points to end at 4.290 and Koza Anadolu Metal Madencilik Isletmeleri AS (IS:KOZAA) was down 3.78% or 0.220 points to 5.600.

Rising stocks outnumbered declining ones on the Istanbul Stock Exchange by 241 to 102 and 66 ended unchanged.

Shares in Tekfen Holding AS (IS:TKFEN) rose to all time highs; rising 6.21% or 1.10 to 18.82. Shares in Arcelik AS (IS:ARCLK) fell to 3-years lows; losing 5.37% or 0.70 to 12.33.

Gold Futures for August delivery was down 0.33% or 4.10 to $1242.50 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August rose 0.51% or 0.36 to hit $70.69 a barrel, while the September Brent oil contract rose 0.91% or 0.68 to trade at $75.13 a barrel.

USD/TRY was down 0.50% to 4.8305, while EUR/TRY fell 0.55% to 5.6392.

The US Dollar Index Futures was up 0.01% at 94.58.

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Greece stocks higher at close of trade; Athens General Composite up 1.26%

– Greece stocks were higher after the close on Friday, as gains in the Telecoms, Retail and Household sectors led shares higher.

At the close in Athens, the Athens General Composite gained 1.26%.

The best performers of the session on the Athens General Composite were Selonda Aquaculture SA (AT:SELr), which rose 10.78% or 0.0110 points to trade at 0.1130 at the close. Meanwhile, Hellenic Telec (AT:OTEr) added 4.05% or 0.42 points to end at 10.79 and Marfin Invest (AT:MRFr) was up 4.03% or 0.004 points to 0.108 in late trade.

The worst performers of the session were Nireus Aqua (AT:NIRr), which fell 2.97% or 0.005 points to trade at 0.170 at the close. ThesKi Water (AT:TWSr) declined 1.50% or 0.070 points to end at 4.630 and Ellaktor SA (AT:HELr) was down 1.46% or 0.030 points to 2.030.

Rising stocks outnumbered declining ones on the Athens Stock Exchange by 64 to 26 and 14 ended unchanged.

Gold Futures for August delivery was down 0.30% or 3.80 to $1242.80 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August rose 0.44% or 0.31 to hit $70.64 a barrel, while the September Brent oil contract rose 0.90% or 0.67 to trade at $75.12 a barrel.

EUR/USD was unchanged 0.00% to 1.1671, while EUR/GBP fell 0.07% to 0.8831.

The US Dollar Index Futures was down 0.01% at 94.56.

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Greece stocks higher at close of trade; Athens General Composite up 1.26%

– Greece stocks were higher after the close on Friday, as gains in the Telecoms, Retail and Household sectors led shares higher.

At the close in Athens, the Athens General Composite gained 1.26%.

The best performers of the session on the Athens General Composite were Selonda Aquaculture SA (AT:SELr), which rose 10.78% or 0.0110 points to trade at 0.1130 at the close. Meanwhile, Hellenic Telec (AT:OTEr) added 4.05% or 0.42 points to end at 10.79 and Marfin Invest (AT:MRFr) was up 4.03% or 0.004 points to 0.108 in late trade.

The worst performers of the session were Nireus Aqua (AT:NIRr), which fell 2.97% or 0.005 points to trade at 0.170 at the close. ThesKi Water (AT:TWSr) declined 1.50% or 0.070 points to end at 4.630 and Ellaktor SA (AT:HELr) was down 1.46% or 0.030 points to 2.030.

Rising stocks outnumbered declining ones on the Athens Stock Exchange by 64 to 26 and 14 ended unchanged.

Gold Futures for August delivery was down 0.30% or 3.80 to $1242.80 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August rose 0.44% or 0.31 to hit $70.64 a barrel, while the September Brent oil contract rose 0.90% or 0.67 to trade at $75.12 a barrel.

EUR/USD was unchanged 0.00% to 1.1671, while EUR/GBP fell 0.07% to 0.8831.

The US Dollar Index Futures was down 0.01% at 94.56.

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Greece stocks higher at close of trade; Athens General Composite up 1.26%

– Greece stocks were higher after the close on Friday, as gains in the Telecoms, Retail and Household sectors led shares higher.

At the close in Athens, the Athens General Composite added 1.26%.

The best performers of the session on the Athens General Composite were Selonda Aquaculture SA (AT:SELr), which rose 10.78% or 0.0110 points to trade at 0.1130 at the close. Meanwhile, Hellenic Telec (AT:OTEr) added 4.05% or 0.42 points to end at 10.79 and Marfin Invest (AT:MRFr) was up 4.03% or 0.004 points to 0.108 in late trade.

The worst performers of the session were Nireus Aqua (AT:NIRr), which fell 2.97% or 0.005 points to trade at 0.170 at the close. ThesKi Water (AT:TWSr) declined 1.50% or 0.070 points to end at 4.630 and Ellaktor SA (AT:HELr) was down 1.46% or 0.030 points to 2.030.

Rising stocks outnumbered declining ones on the Athens Stock Exchange by 64 to 26 and 14 ended unchanged.

Gold Futures for August delivery was down 0.30% or 3.70 to $1242.90 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August rose 0.44% or 0.31 to hit $70.64 a barrel, while the September Brent oil contract rose 0.90% or 0.67 to trade at $75.12 a barrel.

EUR/USD was unchanged 0.00% to 1.1671, while EUR/GBP fell 0.07% to 0.8831.

The US Dollar Index Futures was down 0.01% at 94.56.

]]> https://i-invdn-com.akamaized.net/news/LYNXMPEA8B0C4_M.jpg © Reuters.

Greece stocks higher at close of trade; Athens General Composite up 1.26%

– Greece stocks were higher after the close on Friday, as gains in the Telecoms, Retail and Household sectors led shares higher.

At the close in Athens, the Athens General Composite added 1.26%.

The best performers of the session on the Athens General Composite were Selonda Aquaculture SA (AT:SELr), which rose 10.78% or 0.0110 points to trade at 0.1130 at the close. Meanwhile, Hellenic Telec (AT:OTEr) added 4.05% or 0.42 points to end at 10.79 and Marfin Invest (AT:MRFr) was up 4.03% or 0.004 points to 0.108 in late trade.

The worst performers of the session were Nireus Aqua (AT:NIRr), which fell 2.97% or 0.005 points to trade at 0.170 at the close. ThesKi Water (AT:TWSr) declined 1.50% or 0.070 points to end at 4.630 and Ellaktor SA (AT:HELr) was down 1.46% or 0.030 points to 2.030.

Rising stocks outnumbered declining ones on the Athens Stock Exchange by 64 to 26 and 14 ended unchanged.

Gold Futures for August delivery was down 0.30% or 3.70 to $1242.90 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August rose 0.44% or 0.31 to hit $70.64 a barrel, while the September Brent oil contract rose 0.89% or 0.66 to trade at $75.11 a barrel.

EUR/USD was unchanged 0.00% to 1.1671, while EUR/GBP fell 0.07% to 0.8831.

The US Dollar Index Futures was down 0.01% at 94.56.

]]> https://i-invdn-com.akamaized.net/news/LYNXNPEB6N0XK_M.jpg © Reuters.

Greece stocks higher at close of trade; Athens General Composite up 1.26%

– Greece stocks were higher after the close on Friday, as gains in the Telecoms, Retail and Household sectors led shares higher.

At the close in Athens, the Athens General Composite gained 1.26%.

The best performers of the session on the Athens General Composite were Selonda Aquaculture SA (AT:SELr), which rose 10.78% or 0.0110 points to trade at 0.1130 at the close. Meanwhile, Hellenic Telec (AT:OTEr) added 4.05% or 0.42 points to end at 10.79 and Marfin Invest (AT:MRFr) was up 4.03% or 0.004 points to 0.108 in late trade.

The worst performers of the session were Nireus Aqua (AT:NIRr), which fell 2.97% or 0.005 points to trade at 0.170 at the close. ThesKi Water (AT:TWSr) declined 1.50% or 0.070 points to end at 4.630 and Ellaktor SA (AT:HELr) was down 1.46% or 0.030 points to 2.030.

Rising stocks outnumbered declining ones on the Athens Stock Exchange by 64 to 26 and 14 ended unchanged.

Gold Futures for August delivery was down 0.30% or 3.70 to $1242.90 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August rose 0.44% or 0.31 to hit $70.64 a barrel, while the September Brent oil contract rose 0.89% or 0.66 to trade at $75.11 a barrel.

EUR/USD was unchanged 0.00% to 1.1671, while EUR/GBP fell 0.07% to 0.8831.

The US Dollar Index Futures was down 0.01% at 94.56.

]]> https://i-invdn-com.akamaized.net/news/LYNXMPEB5B0SL_M.jpg © Reuters.

Greece stocks higher at close of trade; Athens General Composite up 1.26%

– Greece stocks were higher after the close on Friday, as gains in the Telecoms, Retail and Household sectors led shares higher.

At the close in Athens, the Athens General Composite rose 1.26%.

The best performers of the session on the Athens General Composite were Selonda Aquaculture SA (AT:SELr), which rose 10.78% or 0.0110 points to trade at 0.1130 at the close. Meanwhile, Hellenic Telec (AT:OTEr) added 4.05% or 0.42 points to end at 10.79 and Marfin Invest (AT:MRFr) was up 4.03% or 0.004 points to 0.108 in late trade.

The worst performers of the session were Nireus Aqua (AT:NIRr), which fell 2.97% or 0.005 points to trade at 0.170 at the close. ThesKi Water (AT:TWSr) declined 1.50% or 0.070 points to end at 4.630 and Ellaktor SA (AT:HELr) was down 1.46% or 0.030 points to 2.030.

Rising stocks outnumbered declining ones on the Athens Stock Exchange by 64 to 26 and 14 ended unchanged.

Gold Futures for August delivery was down 0.30% or 3.70 to $1242.90 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August rose 0.44% or 0.31 to hit $70.64 a barrel, while the September Brent oil contract rose 0.86% or 0.64 to trade at $75.09 a barrel.

EUR/USD was unchanged 0.00% to 1.1671, while EUR/GBP fell 0.07% to 0.8831.

The US Dollar Index Futures was down 0.01% at 94.56.

]]> https://i-invdn-com.akamaized.net/news/LYNXMPEB5B0SL_M.jpg © Reuters.

Greece stocks higher at close of trade; Athens General Composite up 1.26%

– Greece stocks were higher after the close on Friday, as gains in the Telecoms, Retail and Household sectors led shares higher.

At the close in Athens, the Athens General Composite added 1.26%.

The best performers of the session on the Athens General Composite were Selonda Aquaculture SA (AT:SELr), which rose 10.78% or 0.0110 points to trade at 0.1130 at the close. Meanwhile, Hellenic Telec (AT:OTEr) added 4.05% or 0.42 points to end at 10.79 and Marfin Invest (AT:MRFr) was up 4.03% or 0.004 points to 0.108 in late trade.

The worst performers of the session were Nireus Aqua (AT:NIRr), which fell 2.97% or 0.005 points to trade at 0.170 at the close. ThesKi Water (AT:TWSr) declined 1.50% or 0.070 points to end at 4.630 and Ellaktor SA (AT:HELr) was down 1.46% or 0.030 points to 2.030.

Rising stocks outnumbered declining ones on the Athens Stock Exchange by 64 to 26 and 14 ended unchanged.

Gold Futures for August delivery was down 0.30% or 3.70 to $1242.90 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August rose 0.44% or 0.31 to hit $70.64 a barrel, while the September Brent oil contract rose 0.86% or 0.64 to trade at $75.09 a barrel.

EUR/USD was unchanged 0.00% to 1.1671, while EUR/GBP fell 0.07% to 0.8831.

The US Dollar Index Futures was down 0.01% at 94.56.

]]> https://i-invdn-com.akamaized.net/news/LYNXMPEAB80S6_M.jpg © Reuters.

Greece stocks higher at close of trade; Athens General Composite up 1.26%

– Greece stocks were higher after the close on Friday, as gains in the Telecoms, Retail and Household sectors led shares higher.

At the close in Athens, the Athens General Composite added 1.26%.

The best performers of the session on the Athens General Composite were Selonda Aquaculture SA (AT:SELr), which rose 10.78% or 0.0110 points to trade at 0.1130 at the close. Meanwhile, Hellenic Telec (AT:OTEr) added 4.05% or 0.42 points to end at 10.79 and Marfin Invest (AT:MRFr) was up 4.03% or 0.004 points to 0.108 in late trade.

The worst performers of the session were Nireus Aqua (AT:NIRr), which fell 2.97% or 0.005 points to trade at 0.170 at the close. ThesKi Water (AT:TWSr) declined 1.50% or 0.070 points to end at 4.630 and Ellaktor SA (AT:HELr) was down 1.46% or 0.030 points to 2.030.

Rising stocks outnumbered declining ones on the Athens Stock Exchange by 64 to 26 and 14 ended unchanged.

Gold Futures for August delivery was down 0.30% or 3.70 to $1242.90 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August rose 0.44% or 0.31 to hit $70.64 a barrel, while the September Brent oil contract rose 0.86% or 0.64 to trade at $75.09 a barrel.

EUR/USD was unchanged 0.00% to 1.1671, while EUR/GBP fell 0.07% to 0.8831.

The US Dollar Index Futures was down 0.01% at 94.56.

]]> https://i-invdn-com.akamaized.net/news/LYNXMPEAB90GC_M.jpg © Reuters.

Greece stocks higher at close of trade; Athens General Composite up 1.26%

– Greece stocks were higher after the close on Friday, as gains in the Telecoms, Retail and Household sectors led shares higher.

At the close in Athens, the Athens General Composite rose 1.26%.

The best performers of the session on the Athens General Composite were Selonda Aquaculture SA (AT:SELr), which rose 10.78% or 0.0110 points to trade at 0.1130 at the close. Meanwhile, Hellenic Telec (AT:OTEr) added 4.05% or 0.42 points to end at 10.79 and Marfin Invest (AT:MRFr) was up 4.03% or 0.004 points to 0.108 in late trade.

The worst performers of the session were Nireus Aqua (AT:NIRr), which fell 2.97% or 0.005 points to trade at 0.170 at the close. ThesKi Water (AT:TWSr) declined 1.50% or 0.070 points to end at 4.630 and Ellaktor SA (AT:HELr) was down 1.46% or 0.030 points to 2.030.

Rising stocks outnumbered declining ones on the Athens Stock Exchange by 64 to 26 and 14 ended unchanged.

Gold Futures for August delivery was down 0.30% or 3.70 to $1242.90 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August rose 0.44% or 0.31 to hit $70.64 a barrel, while the September Brent oil contract rose 0.86% or 0.64 to trade at $75.09 a barrel.

EUR/USD was unchanged 0.00% to 1.1671, while EUR/GBP fell 0.07% to 0.8831.

The US Dollar Index Futures was down 0.01% at 94.56.

]]> https://i-invdn-com.akamaized.net/news/LYNXNPEB720F4_M.jpg © Reuters.

Greece stocks higher at close of trade; Athens General Composite up 1.26%

– Greece stocks were higher after the close on Friday, as gains in the Telecoms, Retail and Household sectors led shares higher.

At the close in Athens, the Athens General Composite added 1.26%.

The best performers of the session on the Athens General Composite were Selonda Aquaculture SA (AT:SELr), which rose 10.78% or 0.0110 points to trade at 0.1130 at the close. Meanwhile, Hellenic Telec (AT:OTEr) added 4.05% or 0.42 points to end at 10.79 and Marfin Invest (AT:MRFr) was up 4.03% or 0.004 points to 0.108 in late trade.

The worst performers of the session were Nireus Aqua (AT:NIRr), which fell 2.97% or 0.005 points to trade at 0.170 at the close. ThesKi Water (AT:TWSr) declined 1.50% or 0.070 points to end at 4.630 and Ellaktor SA (AT:HELr) was down 1.46% or 0.030 points to 2.030.

Rising stocks outnumbered declining ones on the Athens Stock Exchange by 64 to 26 and 14 ended unchanged.

Gold Futures for August delivery was down 0.30% or 3.70 to $1242.90 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August rose 0.44% or 0.31 to hit $70.64 a barrel, while the September Brent oil contract rose 0.86% or 0.64 to trade at $75.09 a barrel.

EUR/USD was unchanged 0.00% to 1.1671, while EUR/GBP fell 0.07% to 0.8831.

The US Dollar Index Futures was down 0.01% at 94.56.

]]> https://i-invdn-com.akamaized.net/news/LYNXNPEC4O0ND_M.jpg © Reuters.

Greece stocks higher at close of trade; Athens General Composite up 1.26%

– Greece stocks were higher after the close on Friday, as gains in the Telecoms, Retail and Household sectors led shares higher.

At the close in Athens, the Athens General Composite added 1.26%.

The best performers of the session on the Athens General Composite were Selonda Aquaculture SA (AT:SELr), which rose 10.78% or 0.0110 points to trade at 0.1130 at the close. Meanwhile, Hellenic Telec (AT:OTEr) added 4.05% or 0.42 points to end at 10.79 and Marfin Invest (AT:MRFr) was up 4.03% or 0.004 points to 0.108 in late trade.

The worst performers of the session were Nireus Aqua (AT:NIRr), which fell 2.97% or 0.005 points to trade at 0.170 at the close. ThesKi Water (AT:TWSr) declined 1.50% or 0.070 points to end at 4.630 and Ellaktor SA (AT:HELr) was down 1.46% or 0.030 points to 2.030.

Rising stocks outnumbered declining ones on the Athens Stock Exchange by 64 to 26 and 14 ended unchanged.

Gold Futures for August delivery was down 0.30% or 3.70 to $1242.90 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August rose 0.44% or 0.31 to hit $70.64 a barrel, while the September Brent oil contract rose 0.86% or 0.64 to trade at $75.09 a barrel.

EUR/USD was unchanged 0.00% to 1.1671, while EUR/GBP fell 0.07% to 0.8831.

The US Dollar Index Futures was down 0.01% at 94.56.

]]> https://i-invdn-com.akamaized.net/news/LYNXNPEA9E0WC_M.jpg © Reuters.

Cryptos Pare Weekly Losses in Slight Recovery

- Bitcoin traded higher on Friday in a slight recovery with all cryptocurrencies still on track for a sharp weekly decline.

Bitcoin gained 1.0% in the last 24 hours to reach $6,250.70 on the Bitfinex exchange by 9:47 AM ET (13:47GMT). The recovery still left the largest cryptocurrency by market cap on track for a weekly decline of 5.5%

Inflows into the crypto market has been thwarted by concerns over security flaws at various cypto exchanges amid several reports of successful hacks at popular exchanges leading to the theft of billions of dollars’ worth of crypto.

The U.S. Department of Justice has established a task force to combat consumer fraud, including digital currency fraud. The Task Force on Market Integrity and Consumer Fraud will work on deterring crime and focus protection on elderly people, service members and veterans.

The total crypto market cap regained ground, rising to $250 billion, at the time of writing, from about $245 billion on Thursday.

In other crypto trading, Ethereum rose 1.3% to $435.92 in the last 24 hours, bringing weekly losses down to 7.3%, Ripple gained 1.7% to $0.44054, decreasing the weekly decline to 7.6%, while Bitcoin Cash, product of the Bitcoin fork and the fourth largest cryptocurrency by market capitalization, traded up 1.4% to $693.00, diminishing weekly losses to 5.5%.

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Stocks - Wells Fargo, Johnson&Johnson, AT&T Slump in Pre-market, JP Morgan gains

- Stocks in focus in pre-market trade Friday:

• Wells Fargo (WFC) stock slumped 3.16% by 8:18 AM ET (12:18 GMT) as it reported a diluted earnings per share of $0.98. Even excluding an income tax expense of $0.10 per share, its EPS missed the consensus forecast for $1.12.

• JP Morgan (JPM) stock advanced 0.11% after second quarter earnings beat consensus on both the top and bottom line.

• Citigroup (C) stock fell 0.98% as second quarter revenue fell 2% to $18.47 billion, below analyst estimates.

• Johnson & Johnson (JNJ) stock sank 2.11% as a Missouri jury ordered the company to pay a record $4.69 billion to 22 women who alleged the company’s talc-based products contain asbestos and caused them to develop ovarian cancer. J&J said it would appeal the verdict which was the result of a “fundamentally unfair process”.

• AT&T (T) stock fell 1.55% after the U.S. Department of Justice appealed its takeover of Time Warner, renewing the government’s antitrust fight against the merger.

• Netflix (NFLX) stock lost 0.54% after India took the company to court over its portrayal of former Prime Minister Rajiv Gandhi.

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Nobel Laureate Stiglitz Trashes Bitcoin

- Call it doom and gloom with a bit of trash talk.

Nobel Prize-winning economist Joseph Stiglitz says bitcoin will be "regulated into oblivion."

Stiglitz, also a former World Bank economist, made the prediction in an interview with Financial News, in which he also predicted bitcoin may be worth as little as "$100 in 10 years."

Stiglitz expects a major regulatory crackdown on cryptocurrencies, partly because of their secretive nature and use in criminal activities.

Now a professor at Columbia University, Stiglitz told Financial News that "people in power will move to regulate anonymous transactions."

Stiglitz has previously called bitcoin a "bubble" that serves no useful function, and should therefore be "outlawed."

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Corporate America All In On Stock Buybacks

- Corporate America has a case of stock buyback fever.
Companies announced a record $436.6 billion in stock buyback programs during the second quarter, twice as much as in the first quarter, according to research firm TrimTabs.
Corporate America has saved tens of billions of dollars because of the Trump administration's tax cut late last year, and companies have decided to share that wealth with shareholders.
Apple (NASDAQ:AAPL)'s buyback program is the largest announced so far. At $100 million, it dwarfs the other top five.
Experts say companies like buybacks because they improve earnings and tend to boost a company's stock price.
Critics say the money would be better spent if it was used to invest in new plants and equipment as well as worker salaries and benefits.
Thus far, companies have announced tax cut-related bonuses for more than 4 million workers, according to Americans for Tax Reform.

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Stocks - U.S. Futures Cautious with Focus on Bank Earnings, Consumer Sentiment

- U.S. futures pointed to a flat open on Friday, as investors digested better-than-expected earnings from JP Morgan and waited for further reports from Wells Fargo and Citigroup , while also looking ahead to a reading on U.S. consumer sentiment.

The blue-chip Dow futures inched up 13 points, or 0.05%, by 7:09 AM ET (11:09 GMT), the S&P 500 futures edged forward 1 point, or 0.04%, while the tech-heavy Nasdaq 100 futures traded up 9 points, or 0.12%.

JP Morgan (NYSE:JPM) reported a 6% increase in revenue to $28.39 billion, beating expectations for $27.55 billion. The bank also registered earnings per share of $2.29, above consensus for $2.22. Shares were up 0.64% at $107.54 in pre-market trade at 7:10 AM ET (11:10 GMT) Friday

After JP Morgan’s positive earnings, Citigroup (NYSE:C) and Wells Fargo (NYSE:WFC) will follow up with their own reports at approximately 8:00 AM (12:00 GMT).

Q2 earnings growth is tipped to be 20.7% according to Thomson Reuters data, moderating slightly from a gain of 26.6% the first-quarter, which was the highest in seven years when results were boosted by tax-cut tailwinds.

However, the season is being clouded by trade tensions and their impact on corporate profits, with analysts likely to scrutinize outlook statements to see whether to adjust numbers for the rest of 2018.

Trade tensions remained in focus although U.S. Treasury Secretary Steven Mnuchin said on Thursday that he and the administration are “available” for discussion, but China must first agree to deeper economic reforms.

China's vice foreign minister Zhang Jun said on Friday that the U.S.’s accusations against China on trade were groundless and that Washington's actions are not supported by the international community.

Also in trade news, U.S. President Donald Trump suggested that UK Prime Minister Theresa May’s plan to exit the European Union would likely make any type of U.S.-British trade deal unfeasible.

"If they do a deal like that, we would be dealing with the European Union instead of dealing with the UK, so it will probably kill the deal," Trump said on Friday in an interview with Sun.

On the economic front, traders will focus on University of Michigan’s preliminary measure of July consumer sentiment at 10:00 AM ET (14:00 GMT).

Import and export prices for June are also scheduled for released at 8:30 AM ET (14:30 GMT).

Later in the session, market participants will look for clues on the future path of interest rates as Atlanta Fed president Raphael Bostic participates in a town hall chat in which he will take questions from the audience.

Meanwhile, oil prices headed lower on Friday, extending the weekly decline to more than 4% as investors focused this week on the return of Libyan oil to the market amid concerns about a China-U.S. trade war.

Investors looked ahead to Baker Hughes’ weekly data on U.S. production due out later on Friday. The number of active U.S. rigs drilling for oil rose by five to 863 last week.

Although that was the first increase in three weeks, the U.S. rig count, an early indicator of future output, is much higher than a year ago when 763 rigs were active as energy companies have been ramping up production in tandem with OPEC's past efforts to cut global output over the past year-and-a-half.

Elsewhere, European shares moved higher nearing midday trade on Friday, and looked set for a second week of gains as fears of a full-blown trade war were kept in check and optimism about the next corporate earnings season grew.

Earlier, Asian stock markets closed mostly higher on Friday, although China’s Shanghai Composite remained under pressure as the Chinese trade surplus with the U.S. hit a record in June, underlining concerns about how U.S. President Donald Trump will react to the data.

]]> https://i-invdn-com.akamaized.net/news/LYNXNPEC520WY_M.jpg © Reuters.

India stocks lower at close of trade; Nifty 50 down 0.04%

– India stocks were lower after the close on Friday, as losses in the Real Estate, Public Sector Undertakings and Capital Goods sectors led shares lower.

At the close in NSE, the Nifty 50 fell 0.04%, while the BSE Sensex 30 index fell 0.02%.

The best performers of the session on the Nifty 50 were Titan Company Ltd (NS:TITN), which rose 3.72% or 30.05 points to trade at 838.70 at the close. Meanwhile, Bharat Petroleum Corp. Ltd. (NS:BPCL) added 2.57% or 9.70 points to end at 386.65 and Bajaj Finance Ltd (NS:BJFN) was up 2.44% or 59.00 points to 2468.60 in late trade.

The worst performers of the session were Zee Entertainment Enterprises Ltd. (NS:ZEE), which fell 4.54% or 24.25 points to trade at 508.70 at the close. Bharti Infratel Ltd (NS:BHRI) declined 3.76% or 11.80 points to end at 302.70 and UPL Ltd (NS:UPLL) was down 2.35% or 13.65 points to 562.55.

The top performers on the BSE Sensex 30 were Reliance Industries Ltd (BO:RELI) which rose 1.34% to 1096.75, Infosys Ltd (BO:INFY) which was up 1.12% to settle at 1309.10 and Bajaj Auto Ltd (BO:BAJA) which gained 1.02% to close at 3133.45.

The worst performers were Oil And Natural Gas Corporation Ltd (BO:ONGC) which was down 2.80% to 154.60 in late trade, AXIS Bank Ltd. (BO:AXBK) which lost 2.48% to settle at 523.90 and ITC Ltd (BO:ITC) which was down 2.29% to 270.40 at the close.

Falling stocks outnumbered advancing ones on the India National Stock Exchange by 1221 to 393 and 46 ended unchanged; on the Bombay Stock Exchange, 1782 fell and 768 advanced, while 125 ended unchanged.

Shares in Bajaj Finance Ltd (NS:BJFN) rose to all time highs; rising 2.44% or 59.00 to 2468.60. Shares in UPL Ltd (NS:UPLL) fell to 52-week lows; falling 2.35% or 13.65 to 562.55. Shares in Reliance Industries Ltd (BO:RELI) rose to all time highs; rising 1.34% or 14.55 to 1096.75.

The India VIX, which measures the implied volatility of Nifty 50 options, was down 1.62% to 12.3025.

Gold Futures for August delivery was down 0.46% or 5.70 to $1240.90 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August fell 0.36% or 0.25 to hit $70.08 a barrel, while the September Brent oil contract fell 0.69% or 0.51 to trade at $73.94 a barrel.

USD/INR was up 0.28% to 68.464, while EUR/INR fell 0.47% to 79.5940.

The US Dollar Index Futures was up 0.38% at 94.93.

]]> https://i-invdn-com.akamaized.net/news/LYNXNPEC6B0BA_M.jpg © Reuters.

Japan stocks higher at close of trade; Nikkei 225 up 1.85%

– Japan stocks were higher after the close on Friday, as gains in the Communication, Gas&Water and Food sectors led shares higher.

At the close in Tokyo, the Nikkei 225 gained 1.85%.

The best performers of the session on the Nikkei 225 were Tokai Carbon Co., Ltd. (T:5301), which rose 7.31% or 146.0 points to trade at 2144.0 at the close. Meanwhile, Fast Retailing Co., Ltd. (T:9983) added 6.95% or 3420.0 points to end at 52650.0 and Yamato Holdings Co., Ltd. (T:9064) was up 4.34% or 132.0 points to 3171.0 in late trade.

The worst performers of the session were Concordia Financial Group Ltd (T:7186), which fell 8.53% or 47.0 points to trade at 504.0 at the close. Yaskawa Electric Corp. (T:6506) declined 3.95% or 160.0 points to end at 3890.0 and Familymart Ltd (T:8028) was down 2.38% or 270.0 points to 11070.0.

Rising stocks outnumbered declining ones on the Tokyo Stock Exchange by 2324 to 1024 and 218 ended unchanged.

Shares in Concordia Financial Group Ltd (T:7186) fell to 52-week lows; losing 8.53% or 47.0 to 504.0.

The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was down 4.86% to 16.84.

Crude oil for August delivery was down 0.54% or 0.38 to $69.95 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September fell 1.36% or 1.01 to hit $73.44 a barrel, while the August Gold Futures contract fell 0.46% or 5.70 to trade at $1240.90 a troy ounce.

USD/JPY was up 0.20% to 112.75, while EUR/JPY fell 0.25% to 130.98.

The US Dollar Index Futures was up 0.43% at 94.98.

]]> https://i-invdn-com.akamaized.net/news/LYNXMPEC0301H_M.jpg © Reuters.

Oil Prices Trade Lower Despite Spare Capacity Warning, U.S. Shale Output in Focus

- Oil prices headed lower in European morning trade on Friday as concerns about a China-U.S. trade war and the return of Libyan oil to the market offset a warning about a shortage in global crude supplies despite increases in production from the Organization of Petroleum Exporting Countries.

New York-traded West Texas Intermediate crude futures fell 16 cents or 0.23% to $70.17 a barrel by 4:12 AM ET (8:12GMT).

Meanwhile, Brent crude futures, the benchmark for oil prices outside the U.S., traded down 73 cents or 0.98%, to $73.72.

The Libya's National Oil Corp had announced on Wednesday that four export terminals were being reopened and allowed the return of as much as 850,000 barrels per day of oil into the markets, ending a standoff that had shut down most of Libya's oil output.

The International Energy Agency, however, raised expectations for a global shortage in crude supplies on Thursday as the energy watchdog warned of a potential capacity crunch amid a rise in output from Middle East Gulf countries and Russia.

"Rising production from Middle East Gulf countries and Russia, welcome though it is, comes at the expense of the world's spare capacity cushion, which might be stretched to the limit," the Paris-based agency said in its monthly report.

Saudi Arabia increased production by 430,000 barrels a day in June, the IEA said. That, however, was offset somewhat by falling Iranian exports, as European traders trimmed their imports ahead of U.S. sanctions on Tehran, which come into effect in November.

"In June, Iran's crude exports fell back by about 230,000 barrels a day, albeit from a relatively high level in May, as European purchases dropped by nearly 50%," the agency said.

Trade dispute China and the U.S. also remained in focus. Treasury Secretary Steven Mnuchin said on Thursday that he and the administration are “available” for discussion, but China must first agree to deeper economic reforms.

“To the extent that China wants to make structural changes, I and the administration are available,” Mnuchin said on Thursday. “We are not advocating tariffs. We are advocating fair trade.”

China’s Vice Minister of Commerce Wang Shouwen also said on Thursday that “when we have a trade problem, we should talk about it.”

Later on Friday, traders await the latest Baker Hughes’ data on U.S. production. The number of active U.S. rigs drilling for oil rose by five to 863 last week.

Although that was the first increase in three weeks, the U.S. rig count, an early indicator of future output, is much higher than a year ago when 763 rigs were active as energy companies have been ramping up production in tandem with OPEC's past efforts to cut global output over the past year-and-a-half.

In other energy trading, gasoline futures fell 0.79% $2.0572 a gallon by 4:13 AM ET (8:13GMT), while heating oil lost 0.81% to $2.1060 a gallon.

Lastly, natural gas futures dipped 0.04% to $2.796 per million British thermal units.

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Taiwan stocks higher at close of trade; Taiwan Weighted up 1.17%

– Taiwan stocks were higher after the close on Friday, as gains in the Machinery, Other Electronic and Auto sectors led shares higher.

At the close in Taiwan, the Taiwan Weighted added 1.17%.

The best performers of the session on the Taiwan Weighted were King Core Electronics Inc (TW:6155), which rose 10.00% or 4.70 points to trade at 51.70 at the close. Meanwhile, Rexon Industrial Corp Ltd (TW:1515) added 9.95% or 3.95 points to end at 43.65 and Lily Textile Co Ltd (TW:1443) was up 9.93% or 0.69 points to 7.64 in late trade.

The worst performers of the session were Arima Communications Corp (TW:8101), which fell 5.31% or 0.13 points to trade at 2.32 at the close. Makalot Industrial Co Ltd (TW:1477) declined 4.36% or 6.00 points to end at 131.50 and Bonny Worldwide Ltd (TW:8467) was down 3.77% or 1.20 points to 30.60.

Rising stocks outnumbered declining ones on the Taiwan Stock Exchange by 606 to 201 and 110 ended unchanged.

Shares in King Core Electronics Inc (TW:6155) rose to all time highs; gaining 10.00% or 4.70 to 51.70. Shares in Arima Communications Corp (TW:8101) fell to all time lows; losing 5.31% or 0.13 to 2.32. Shares in Lily Textile Co Ltd (TW:1443) rose to 3-years highs; up 9.93% or 0.69 to 7.64. Shares in Bonny Worldwide Ltd (TW:8467) fell to all time lows; losing 3.77% or 1.20 to 30.60.

Crude oil for August delivery was down 0.11% or 0.08 to $70.25 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September fell 0.36% or 0.27 to hit $74.18 a barrel, while the August Gold Futures contract fell 0.08% or 1.00 to trade at $1245.60 a troy ounce.

USD/TWD was up 0.13% to 30.550, while TWD/CNY fell 0.14% to 0.2179.

The US Dollar Index Futures was up 0.14% at 94.70.

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Gold Prices Slip as Dollar Extends Gain

– Gold prices slipped on Friday as the dollar extended gains from the previous session. A strong U.S. inflation report and continued trade war concerns were cited as tailwind for the greenback.

Gold futures for August delivery on the Comex division of the New York Mercantile Exchange slipped 0.1% to $1,245.40 a troy ounce by 1:45AM ET (05:45 GMT).  

Meanwhile, the dollar rose on Friday, trading near a 10-day peak after U.S. consumer prices data showed a build-up of inflation pressure that would allow the Fed to raise rates as many as four times this year. 

The U.S. Dollar Index that tracks the greenback against a basket of currencies was up 0.7% at 94.87. 

"The dollar has benefited this week from the trade conflict concerns that emerged earlier, which ended up funneling safe-haven bids into the currency," said Koji Fukaya, president of FPG Securities in Tokyo. 

"On top of that, the U.S. economy has shown it is doing well and Treasury yields have risen, and these factors are all helping the dollar." 

A stronger dollar and higher U.S. rates reduce demand for non-interest bearing gold as the metal becomes more expensive for holders of other currencies.

U.S. Treasury Secretary Steven Mnuchin said on Thursday that he and the administration are “available” for discussion, but China must first agree to deeper economic reforms.  

“To the extent that China wants to make structural changes, I and the administration are available,” Mnuchin said on Thursday. “We are not advocating tariffs. We are advocating fair trade.” 

China’s Vice Minister of Commerce Wang Shouwen also said on Thursday “when we have a trade problem, we should talk about it.” 

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Oil Prices Slip Amid Continued Concerns of Trade War, Return of Libyan Oil

– Oil prices slipped on Friday as concerns about a China-U.S. trade war and the return of Libyan oil to the market continued to be cited as catalysts for the selling.

The Libya's National Oil Corp announced on Wednesday that four export terminals were being reopened and allowed the return of as much as 850,000 barrels per day of oil into the markets, ending a standoff that had shut down most of Libya's oil output.

Crude Oil WTI Futures for August delivery were trading at $70.32 a barrel at 12:40AM ET (04:40 GMT), down 0.1%. Brent Oil Futures for September delivery, traded in London, were also down 0.2% at $74.28 per barrel.  

The International Energy Agency, however, raised expectations for a global shortage in crude supplies as the energy watchdog warned of a potential capacity crunch amid a rise in output from Middle East Gulf countries and Russia, helping oil prices to recoup some losses.

"Rising production from Middle East Gulf countries and Russia, welcome though it is, comes at the expense of the world's spare capacity cushion, which might be stretched to the limit," the Paris-based agency said in its monthly report.

Saudi Arabia increased production by 430,000 barrels a day in June, the IEA said. That, however, was offset somewhat by falling Iranian exports, as European traders trimmed their imports ahead of U.S. sanctions on Tehran, which come into effect in November.

"In June, Iran's crude exports fell back by about 230,000 barrels a day, albeit from a relatively high level in May, as European purchases dropped by nearly 50%," the agency said.

Trade dispute China and the U.S. also remained in focus. Treasury Secretary Steven Mnuchin said on Thursday that he and the administration are “available” for discussion, but China must first agree to deeper economic reforms.

“To the extent that China wants to make structural changes, I and the administration are available,” Mnuchin said on Thursday. “We are not advocating tariffs. We are advocating fair trade.”

China’s Vice Minister of Commerce Wang Shouwen also said on Thursday that “when we have a trade problem, we should talk about it.”

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Bitcoin Sees Red, Nears $6,000 as Demand Continues to Fade

– Bitcoin resumed its trend lower Thursday, amid a lack of meaningful catalysts to support the popular crypto.

Bitcoin fell 3.21% to $6,173.0 on the Bitfinex exchange, after trading as high as $6,378.5.

The plunge in bitcoin has exacerbated investor fears it could test its year-to-date low of $5,762.9 and trigger a steeper fall to levels not seen since November last year around $5,400, amid a lack of demand.

The total crypto market cap fell to $245 billion, at the time of writing, from about $252 billion Wednesday, pointing to signs of falling investor demand for cryptos.

Inflows into the crypto market has been thwarted by concerns over security flaws at various cypto exchanges amid several reports of successful hacks at popular exchanges leading to the theft of billions of dollars worth of crypto.

Large-cap cryptos mirrored bitcoin's move lower.

Ripple XRP fell 2.94% to $0.43410 on the Poloniex exchange, while Ethereum fell 2.74% to $427.82.

Bitcoin Cash fell 3.17% to $678.14, while Litecoin fell 1.33% to $75.78.

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Mexico stocks lower at close of trade; S&P/BMV IPC down 0.67%

– Mexico stocks were lower after the close on Thursday, as losses in the Telecoms Services, Healthcare and Industrials sectors led shares lower.

At the close in Mexico, the S&P/BMV IPC fell 0.67%.

The best performers of the session on the S&P/BMV IPC were Grupo Elektra , S.A.B. De C.V. (MX:ELEKTRA), which rose 2.67% or 16.12 points to trade at 619.57 at the close. Meanwhile, VOLARIS A (MX:VOLARA) added 2.21% or 0.26 points to end at 12.00 and Grupo Financiero Banorte (MX:GFNORTEO) was up 1.12% or 1.340 points to 121.210 in late trade.

The worst performers of the session were Arca Continental , S.A.B. De C.V. (MX:AC), which fell 3.04% or 3.83 points to trade at 122.11 at the close. Grupo LALA SA de CV (MX:LALAB) declined 2.63% or 0.57 points to end at 21.10 and Alfa, S.A.B. De C.V. (MX:ALFAA) was down 2.51% or 0.580 points to 22.540.

Falling stocks outnumbered advancing ones on the Mexico Stock Exchange by 170 to 115 and 10 ended unchanged.

Gold Futures for August delivery was up 0.23% or 2.90 to $1247.30 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August unchanged 0.00% or 0.00 to hit $70.38 a barrel, while the September Brent oil contract rose 1.34% or 0.98 to trade at $74.38 a barrel.

USD/MXN was down 0.70% to 18.9511, while EUR/MXN fell 0.67% to 22.1187.

The US Dollar Index Futures was up 0.07% at 94.55.

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Canada stocks higher at close of trade; S&P/TSX Composite up 0.83%

– Canada stocks were higher after the close on Thursday, as gains in the IT, Consumer Staples and Telecoms sectors led shares higher.

At the close in Toronto, the S&P/TSX Composite rose 0.83% to hit a new all time high.

The best performers of the session on the S&P/TSX Composite were Cogeco Communications Inc (TO:CCA), which rose 8.94% or 5.82 points to trade at 70.93 at the close. Meanwhile, Birchcliff Energy Ltd . (TO:BIR) added 5.05% or 0.24 points to end at 4.99 and Constellation Software Inc . (TO:CSU) was up 4.63% or 49.09 points to 1109.62 in late trade.

The worst performers of the session were Hydro One Limited (TO:H), which fell 3.22% or 0.65 points to trade at 19.52 at the close. Baytex Energy Corp (TO:BTE) declined 2.61% or 0.12 points to end at 4.47 and Endeavour Mining Corp (TO:EDV) was down 2.16% or 0.500 points to 22.600.

Rising stocks outnumbered declining ones on the Toronto Stock Exchange by 646 to 433 and 133 ended unchanged.

Shares in Constellation Software Inc. (TO:CSU) rose to all time highs; gaining 4.63% or 49.09 to 1109.62.

The S&P/TSX 60 VIX, which measures the implied volatility of S&P/TSX Composite options, was down 5.37% to 12.69.

Gold Futures for August delivery was up 0.22% or 2.70 to $1247.10 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August fell 0.06% or 0.04 to hit $70.34 a barrel, while the September Brent oil contract rose 1.31% or 0.96 to trade at $74.36 a barrel.

CAD/USD was up 0.40% to 0.7600, while CAD/EUR rose 0.43% to 0.6512.

The US Dollar Index Futures was up 0.08% at 94.56.

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U.S. stocks higher at close of trade; Dow Jones Industrial Average up 0.91%

– U.S. stocks were higher after the close on Thursday, as gains in the Technology, Healthcare and Industrials sectors led shares higher.

At the close in NYSE, the Dow Jones Industrial Average added 0.91%, while the S&P 500 index gained 0.87%, and the NASDAQ Composite index gained 1.39%.

The best performers of the session on the Dow Jones Industrial Average were Cisco Systems Inc (NASDAQ:CSCO), which rose 2.37% or 1.01 points to trade at 43.58 at the close. Meanwhile, Intel Corporation (NASDAQ:INTC) added 2.29% or 1.18 points to end at 52.38 and Microsoft Corporation (NASDAQ:MSFT) was up 2.17% or 2.21 points to 104.19 in late trade.

The worst performers of the session were Procter&Gamble Company (NYSE:PG), which fell 0.35% or 0.28 points to trade at 78.88 at the close. Coca-Cola Company (NYSE:KO) declined 0.26% or 0.12 points to end at 44.67 and Verizon Communications Inc (NYSE:VZ) was down 0.21% or 0.11 points to 51.23.

The top performers on the S&P 500 were CA Inc (NASDAQ:CA) which rose 18.65% to 44.15, Keurig Dr Pepper Inc (NYSE:KDP) which was up 4.17% to settle at 25.00 and Intuitive Surgical Inc (NASDAQ:ISRG) which gained 4.12% to close at 525.00.

The worst performers were Broadcom Inc (NASDAQ:AVGO) which was down 13.76% to 209.94 in late trade, L Brands Inc (NYSE:LB) which lost 12.06% to settle at 32.34 and Synchrony Financial (NYSE:SYF) which was down 5.26% to 32.97 at the close.

The top performers on the NASDAQ Composite were Izea Inc (NASDAQ:IZEA) which rose 173.65% to 2.5600, China Techfaith Wireless Communication Technology Ltd (NASDAQ:CNTF) which was up 63.93% to settle at 3.0000 and Monaker Group Inc (NASDAQ:MKGI) which gained 23.02% to close at 3.1000.

The worst performers were SSLJ.com Ltd Class A (NASDAQ:SSLJ) which was down 44.95% to 1.6900 in late trade, Amedica Corp (NASDAQ:AMDA) which lost 34.07% to settle at 0.540 and Sellas Life Sciences Group Inc (NASDAQ:SLS) which was down 30.60% to 1.6100 at the close.

Rising stocks outnumbered declining ones on the New York Stock Exchange by 1904 to 1209 and 33 ended unchanged; on the Nasdaq Stock Exchange, 1433 rose and 1072 declined, while 149 ended unchanged.

Shares in CA Inc (NASDAQ:CA) rose to 5-year highs; up 18.65% or 6.94 to 44.15. Shares in Broadcom Inc (NASDAQ:AVGO) fell to 52-week lows; falling 13.76% or 33.50 to 209.94. Shares in Keurig Dr Pepper Inc (NYSE:KDP) rose to 52-week highs; gaining 4.17% or 1.00 to 25.00. Shares in Intuitive Surgical Inc (NASDAQ:ISRG) rose to 52-week highs; gaining 4.12% or 20.78 to 525.00. Shares in Microsoft Corporation (NASDAQ:MSFT) rose to all time highs; gaining 2.17% or 2.21 to 104.19. Shares in SSLJ.com Ltd Class A (NASDAQ:SSLJ) fell to all time lows; falling 44.95% or 1.3800 to 1.6900. Shares in Amedica Corp (NASDAQ:AMDA) fell to all time lows; falling 34.07% or 0.279 to 0.540. Shares in Sellas Life Sciences Group Inc (NASDAQ:SLS) fell to 52-week lows; down 30.60% or 0.7100 to 1.6100.

The CBOE Volatility Index, which measures the implied volatility of S&P 500 options, was down 7.70% to 12.58.

Gold Futures for August delivery was up 0.22% or 2.70 to $1247.10 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August fell 0.06% or 0.04 to hit $70.34 a barrel, while the September Brent oil contract rose 1.32% or 0.97 to trade at $74.37 a barrel.

EUR/USD was down 0.01% to 1.1672, while USD/JPY rose 0.48% to 112.53.

The US Dollar Index Futures was up 0.08% at 94.56.

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Day Ahead: Top 3 Things to Watch

- Here’s a preview of the top 3 things that could rock markets tomorrow.

1. Bank Earnings Will Dominate Early Headlines

It’s almost the middle of the month, but Friday will be when earnings reason really gets underway with major banks reporting before the bell.

Citigroup (NYSE:C), JPMorgan Chase (NYSE:JPM) and Wells Fargo (NYSE:WFC) are all scheduled to issue numbers.

Analysts expect Citi to earn $1.57 a share on revenue of about $18.5 billion. JP Morgan is forecast to post $2.22 a share in earnings on revenue of about $27.5 billion. And Wells Fargo is expected to report a profit of $1.12 a share on revenue of about $21.7 billion.

Along with the headline numbers, investors will be looking closely at net interest margin – the measure of interest paid to lenders vs. the interest earned on interest-bearing assets – which is a key measure of the health of the big banks.

Analysts are already expecting that net interest margin will have been impacted by a flattening yield curve, which happens when the difference between short- and long-term interest rates narrows.

(See the difference in the slope of the yield curve charted at the Treasury Department website.)

In the case of the second quarter, the flattening has occurred as short-term yields on Treasuries have climbed. A strong labor market and inflation data have increased speculation for a more hawkish Fed. On Thursday, the consumer price index for June came in at a six-year high.

Overall, the financial sector earnings are expected to rise 18.5% for the three months ended June, according to Zacks. That’s below the 19.1% rise in earnings forecast for all stocks in the S&P 500.

2. Consumer Inflation Expectations Could Be Significant

The star of Friday’s economic indicators will be the University of Michigan’s initial measure of July consumer sentiment at 10:00 AM ET (14:00 GMT). Economists expect that the index ticked down to 98.1 from 98.2 in June.

But the headline number is unlikely to be much of a market mover, given the acknowledgment of the market that consumers confidence is very strong. The Michigan index hasn’t dropped below 90 this year.

But Fed-watchers may be paying attention to the inflation expectations component of the survey, which arrived at 3% in June.

The Fed takes inflation expectations, as well as inflation data, into account when setting rate policy. Given consumer inflation hitting a six-year high in June, a spike in inflations expectations could raise some worries of more hawkish moves by the FOMC.

3. Will Oil Drop Below $70?

While financial stocks will likely call the market tune, investors will also be keeping an eye on energy shares.

After hitting levels not seen since late 2014, oil prices have retreated in the last few sessions. On Thursday, crude oil prices fell 5 cents to settle at $70.33 a barrel.

If oil prices push and stay below the $70 level, that could put pressure on energy stocks.

Oil prices are moving lower as supply outages in Canada and Libya are being resolved and Saudi Arabia is pushing to produce more barrels per day to make up for any shortfall from sanctions on Iranian oil.

But the International Energy Agency on Thursday said in its monthly report that “rising production from Middle East Gulf countries and Russia, welcome though it is, comes at the expense of the world's spare capacity cushion, which might be stretched to the limit."

On Friday Baker Hughes will report its U.S. rig count at 1:00 PM ET (17:00 GMT). Last week it reported a rise to 863 rigs, the first gain in three weeks.

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Dollar Flat Amid Subdued U.S. Inflation Data

– The dollar was roughly flat against its rivals Thursday, as U.S. economic data showed the pace of consumer prices was subdued last month, but downside was limited by a slump in the yen amid easing trade-war concerns.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, fell by 0.2% to 94.46.

The Labor Department said on Thursday its Consumer Price index rose just 0.1% last month after edging up 0.3% in May. That missed the economists' forecast for a 0.2% rise.

But that failed to dent optimism over the U.S. inflationary backdrop amid expectations that trade tariffs could increase the pace of domestic inflation.

"The latest reading on prices suggests inflation remains solid, with the risk to rise further as trade tariffs threaten to disrupt global access to materials and stoke U.S. inflation," Stifel said in a note to clients.

Downside on the dollar was limited by yen weakness as investor appetite for risk assets returned following a report the U.S. and China were considering resuming trade talks.

Bloomberg reported that U.S. and Chinese officials considered restarting the trade conversations, which could lead to a bilateral agreement, easing concerns about the prospect of a full-blown trade war between the world's largest two economies.

USD/JPY gained 0.39% to Y112.43, while USD/CHF rose 0.54% to 1.0013.

EUR/USD rose 0.09% to $1.1683, while the GBP/USD rose 0.13% to $1.3222.

USD/CAD fell 0.38% to C$1.3161 but falling oil prices kept a lid on the loonie, supporting the pair.

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Portugal stocks lower at close of trade; PSI 20 down 0.05%

– Portugal stocks were lower after the close on Thursday, as losses in the Technology, Telecoms and Consumer Services sectors led shares lower.

At the close in Lisbon, the PSI 20 fell 0.05%.

The best performers of the session on the PSI 20 were F.Rama (LS:RAMA), which rose 6.15% or 0.550 points to trade at 9.500 at the close. Meanwhile, Pharol SGPS SA (LS:PHRA) added 3.10% or 0.0075 points to end at 0.2495 and The Navigator Company SA (LS:NVGR) was up 0.98% or 0.0500 points to 5.1300 in late trade.

The worst performers of the session were J. Martins SGPS (LS:JMT), which fell 1.02% or 0.1300 points to trade at 12.5800 at the close. Galp Energia Nom (LS:GALP) declined 0.91% or 0.1550 points to end at 16.8550 and Mota Engil (LS:MOTA) was down 0.50% or 0.0150 points to 3.0050.

Rising stocks outnumbered declining ones on the Lisbon Stock Exchange by 16 to 13 and 8 ended unchanged.

Brent oil for September delivery was up 0.18% or 0.13 to $73.53 a barrel. Elsewhere in commodities trading, Crude oil for delivery in August fell 1.05% or 0.74 to hit $69.64 a barrel, while the August Gold Futures contract rose 0.23% or 2.80 to trade at $1247.20 a troy ounce.

EUR/USD was up 0.09% to 1.1683, while EUR/GBP fell 0.06% to 0.8836.

The US Dollar Index Futures was down 0.01% at 94.47.

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Finland stocks higher at close of trade; OMX Helsinki 25 up 0.33%

– Finland stocks were higher after the close on Thursday, as gains in the Healthcare, Technology and Oil&Gas sectors led shares higher.

At the close in Helsinki, the OMX Helsinki 25 added 0.33%.

The best performers of the session on the OMX Helsinki 25 were Orion Oyj B (HE:ORNBV), which rose 3.20% or 0.73 points to trade at 23.51 at the close. Meanwhile, YIT Oyj (HE:YIT) added 1.70% or 0.09 points to end at 5.08 and Metsa Board Oyj B (HE:METSB) was up 1.07% or 0.100 points to 9.465 in late trade.

The worst performers of the session were Outotec Oyj (HE:OTE1V), which fell 1.31% or 0.086 points to trade at 6.460 at the close. KONE Oyj (HE:KNEBV) declined 0.91% or 0.40 points to end at 43.68 and Outokumpu Oyj (HE:OUT1V) was down 0.27% or 0.0140 points to 5.2160.

Rising stocks outnumbered declining ones on the Helsinki Stock Exchange by 86 to 62 and 15 ended unchanged.

Brent oil for September delivery was up 0.03% or 0.02 to $73.42 a barrel. Elsewhere in commodities trading, Crude oil for delivery in August fell 1.32% or 0.93 to hit $69.45 a barrel, while the August Gold Futures contract rose 0.22% or 2.70 to trade at $1247.10 a troy ounce.

EUR/USD was up 0.09% to 1.1683, while EUR/GBP fell 0.06% to 0.8836.

The US Dollar Index Futures was unchanged 0.00% at 94.48.

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Denmark stocks higher at close of trade; OMX Copenhagen 20 up 1.30%

– Denmark stocks were higher after the close on Thursday, as gains in the Healthcare, Software&Computer Services and Technology sectors led shares higher.

At the close in Copenhagen, the OMX Copenhagen 20 added 1.30% to hit a new 1-month high.

The best performers of the session on the OMX Copenhagen 20 were AP Moeller - Maersk A/S A (CO:MAERSKa), which rose 2.75% or 200 points to trade at 7480 at the close. Meanwhile, AP Moeller - Maersk A/S B (CO:MAERSKb) added 2.74% or 208 points to end at 7808 and Genmab (CO:GEN) was up 2.56% or 27.0 points to 1082.5 in late trade.

The worst performers of the session were Carlsberg A/S B (CO:CARLb), which fell 1.15% or 9.0 points to trade at 770.6 at the close. Pandora A/S (CO:PNDORA) declined 0.29% or 1.3 points to end at 441.0 and Nordea Bank AB (CO:NDA) was down 0.16% or 0.10 points to 61.86.

Rising stocks outnumbered declining ones on the Copenhagen Stock Exchange by 80 to 38 and 18 ended unchanged.

Crude oil for August delivery was down 1.25% or 0.88 to $69.50 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 0.03% or 0.02 to hit $73.42 a barrel, while the August Gold Futures contract rose 0.23% or 2.80 to trade at $1247.20 a troy ounce.

USD/DKK was down 0.06% to 6.3817, while EUR/DKK rose 0.01% to 7.4546.

The US Dollar Index Futures was unchanged 0.00% at 94.48.

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Italy stocks higher at close of trade; Investing.com Italy 40 up 0.34%

– Italy stocks were higher after the close on Thursday, as gains in the Chemicals, Technology and Utilities sectors led shares higher.

At the close in Milan, the Italy 40 gained 0.34%.

The best performers of the session on the Italy 40 were Freni Brembo SpA (MI:BRBI), which rose 2.13% or 0.25 points to trade at 11.99 at the close. Meanwhile, Terna (MI:TRN) added 1.98% or 0.092 points to end at 4.750 and Ferrari NV (MI:RACE) was up 1.93% or 2.25 points to 118.65 in late trade.

The worst performers of the session were Telecom Italia (MI:TLIT), which fell 2.75% or 0.0174 points to trade at 0.6146 at the close. Banca Generali (MI:BGN) declined 1.81% or 0.40 points to end at 21.66 and Azimut Holding (MI:AZMT) was down 1.54% or 0.20 points to 13.12.

Rising stocks outnumbered declining ones on the Milan Stock Exchange by 178 to 170 and 40 ended unchanged.

Shares in Telecom Italia (MI:TLIT) fell to 3-years lows; losing 2.75% or 0.0174 to 0.6146.

Crude oil for August delivery was down 1.21% or 0.85 to $69.53 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 0.05% or 0.04 to hit $73.44 a barrel, while the August Gold Futures contract rose 0.24% or 3.00 to trade at $1247.40 a troy ounce.

EUR/USD was up 0.09% to 1.1683, while EUR/GBP fell 0.06% to 0.8836.

The US Dollar Index Futures was up 0.01% at 94.49.

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Poland stocks higher at close of trade; WIG30 up 0.28%

– Poland stocks were higher after the close on Thursday, as gains in the Information Technology, Banking and Telecoms sectors led shares higher.

At the close in Warsaw, the WIG30 gained 0.28%.

The best performers of the session on the WIG30 were CD Projekt SA (WA:CDR), which rose 3.47% or 6.20 points to trade at 184.80 at the close. Meanwhile, Cyfrowy Polsat SA (WA:CPS) added 2.77% or 0.64 points to end at 23.74 and Bank Millennium SA (WA:MILP) was up 2.58% or 0.20 points to 7.95 in late trade.

The worst performers of the session were Grupa Azoty SA (WA:ATTP), which fell 4.66% or 2.12 points to trade at 43.36 at the close. Eurocash SA (WA:EUR) declined 2.46% or 0.50 points to end at 19.80 and Energa SA (WA:ENGP) was down 2.17% or 0.20 points to 9.02.

Falling stocks outnumbered advancing ones on the Warsaw Stock Exchange by 214 to 200 and 175 ended unchanged.

Shares in CD Projekt SA (WA:CDR) rose to all time highs; gaining 3.47% or 6.20 to 184.80. Shares in Eurocash SA (WA:EUR) fell to 5-year lows; losing 2.46% or 0.50 to 19.80.

Crude oil for August delivery was down 1.18% or 0.83 to $69.55 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September fell 0.03% or 0.02 to hit $73.38 a barrel, while the August Gold Futures contract rose 0.23% or 2.90 to trade at $1247.30 a troy ounce.

EUR/PLN was down 0.63% to 4.3142, while USD/PLN fell 0.75% to 3.6916.

The US Dollar Index Futures was down 0.01% at 94.47.

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U.K. stocks higher at close of trade; Investing.com United Kingdom 100 up 0.79%

– U.K. stocks were higher after the close on Thursday, as gains in the Software&Computer Services, Pharmaceuticals&Biotech and Media sectors led shares higher.

At the close in London, the United Kingdom 100 added 0.79%.

The best performers of the session on the United Kingdom 100 were Capita PLC (LON:CPI), which rose 4.93% or 7.95 points to trade at 169.10 at the close. Meanwhile, AstraZeneca PLC (LON:AZN) added 3.50% or 184.00 points to end at 5434.00 and SKY PLC (LON:SKYB) was up 3.41% or 51.00 points to 1545.00 in late trade.

The worst performers of the session were Intu Properties PLC (LON:INTUP), which fell 3.60% or 6.65 points to trade at 178.00 at the close. BT Group PLC (LON:BT) declined 1.84% or 4.20 points to end at 223.65 and Travis Perkins PLC (LON:TPK) was down 1.07% or 15.00 points to 1387.00.

Rising stocks outnumbered declining ones on the London Stock Exchange by 1155 to 774 and 336 ended unchanged.

Shares in Intu Properties PLC (LON:INTUP) fell to 5-year lows; falling 3.60% or 6.65 to 178.00. Shares in SKY PLC (LON:SKYB) rose to 5-year highs; up 3.41% or 51.00 to 1545.00.

Gold Futures for August delivery was up 0.23% or 2.90 to $1247.30 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August fell 1.36% or 0.96 to hit $69.42 a barrel, while the September Brent oil contract fell 0.12% or 0.09 to trade at $73.31 a barrel.

GBP/USD was up 0.17% to 1.3228, while EUR/GBP fell 0.07% to 0.8835.

The US Dollar Index Futures was down 0.01% at 94.47.

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Norway stocks lower at close of trade; Oslo OBX down 1.01%

– Norway stocks were lower after the close on Thursday, as losses in the Banking, Telecoms and Energy sectors led shares lower.

At the close in Oslo, the Oslo OBX fell 1.01%.

The best performers of the session on the Oslo OBX were Schibsted ASA A (OL:SBSTA), which rose 4.00% or 10.3 points to trade at 267.6 at the close. Meanwhile, Leroy Seafood Group ASA (OL:LSG) added 3.76% or 2.1 points to end at 58.0 and REC Silicon ASA (OL:REC) was up 2.70% or 0.02 points to 0.85 in late trade.

The worst performers of the session were DnB ASA (OL:DNB), which fell 4.03% or 6.5 points to trade at 156.1 at the close. Aker Solutions OL (OL:AKSOL) declined 3.33% or 1.86 points to end at 54.00 and Telenor ASA (OL:TEL) was down 3.09% or 5.3 points to 166.4.

Rising stocks outnumbered declining ones on the Oslo Stock Exchange by 89 to 78 and 29 ended unchanged.

Shares in Schibsted ASA A (OL:SBSTA) rose to 52-week highs; up 4.00% or 10.3 to 267.6.

Crude oil for August delivery was down 1.29% or 0.91 to $69.47 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September fell 0.10% or 0.07 to hit $73.33 a barrel, while the August Gold Futures contract rose 0.25% or 3.10 to trade at $1247.50 a troy ounce.

EUR/NOK was up 0.01% to 9.4670, while USD/NOK fell 0.11% to 8.0997.

The US Dollar Index Futures was down 0.04% at 94.44.

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Sweden stocks higher at close of trade; OMX Stockholm 30 up 1.00%

– Sweden stocks were higher after the close on Thursday, as gains in the Healthcare, Consumer Goods and Technology sectors led shares higher.

At the close in Stockholm, the OMX Stockholm 30 gained 1.00%.

The best performers of the session on the OMX Stockholm 30 were AstraZeneca PLC (ST:AZN), which rose 4.24% or 26.2 points to trade at 643.7 at the close. Meanwhile, Autoliv Inc . SDB (ST:ALIVsdb) added 2.13% or 19.4 points to end at 928.6 and Electrolux, AB ser. B (ST:ELUXb) was up 2.06% or 4.0 points to 195.6 in late trade.

The worst performers of the session were Swedbank AB ser A (ST:SWEDa), which fell 0.10% or 0.2 points to trade at 193.8 at the close. Svenska Handelsbanken AB A (ST:SHBa) added 0.06% or 0.06 points to end at 99.06 and Skandinaviska Enskilda Banken AB A (ST:SEBa) was up 0.12% or 0.10 points to 84.84.

Rising stocks outnumbered declining ones on the Stockholm Stock Exchange by 370 to 244 and 61 ended unchanged.

Crude oil for August delivery was down 1.25% or 0.88 to $69.50 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September fell 0.03% or 0.02 to hit $73.38 a barrel, while the August Gold Futures contract rose 0.27% or 3.40 to trade at $1247.80 a troy ounce.

EUR/SEK was up 0.43% to 10.3438, while USD/SEK rose 0.29% to 8.8482.

The US Dollar Index Futures was down 0.04% at 94.44.

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Gold Prices Edge Higher Amid Trade Concerns, Mixed Economic Data

- Gold prices edged higher nearing midday trade on Thursday, snapping a two-day losing streak, amid continuing concerns over trade and mixed economic data.

At 11:31 AM ET (15:31GMT), gold futures for August delivery on the Comex division of the New York Mercantile Exchange gained $3.40, or 0.3%, to $1,247.80 a troy ounce.

Traders commented that gold was getting a lift from some of the trade tensions as market participants looked for a safe-haven investment.

On Wednesday, the U.S. threatened to impose tariffs on an additional $200 billion worth of Chinese goods. China said on Thursday that the two countries have not been in touch about restarting talks and while it does not want a trade war, it would fight if necessary.

On the economic front, the consumer price index ticked higher in June, according to data released on Thursday, with core inflation also continuing its upward trend.

While supporting the Federal Reserve’s current plan to gradually increase interest rates, the data did not tilt towards the idea that the central bank would have to pick up the pace.

Higher interest rates tend to weigh on demand for gold, which doesn’t bear interest, in favor of yield-bearing investments.

Weekly jobless claims served to confirm the current strength of the U.S. labor market, with the 214,000 reading at its lowest level since early May.

Meanwhile, the U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was little changed with no impact on the dollar-denominated precious metal.

Still ahead, Philadelphia Fed President Patrick Harker and Minneapolis Fed chief Neel Kashkari have separate appearances that investors will keep an eye on for any perspective over the economy and monetary policy.

In other metals trading, silver futures rose 1.1% at $16.000 a troy ounce by 11:38 AM ET (15:38GMT).

Palladium futures advanced 0.8% to $944.80 an ounce, while sister metal platinum traded up 1.5% at $847.10.

In base metals, copper gained 1.4% to $2.783 a pound.

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French Regulator Says ICOs Need Tighter Regulation

- Initial coin offerings have become a useful alternative for entrepreneurs seeking to raise funds, but they also have unlimited potential for fraud, according to a report by France's stock market regulator.
About €350 million has been raised through ICOs in France thus far, according to the report.
The regulator, known as the AMF, says ICOs use abusive, fraudulent practices to take advantage of unsuspecting investors interested in crypto assets.
The AMF says tighter regulation is needed to protect investors and maintain market integrity, while also ensuring innovation is not hampered.
ICO activity has boomed in recent years, attracting greater regulatory scrutiny.
A recent report by PricewaterhouseCoopers and Crypto Valley said 557 ICOs had raised $13.7 billion through May of this year--twice as much as all of 2017.

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Crude Oil Struggles for Direction as Libya Production, Trade Weighs

- U.S. crude oil prices struggled for direction on Thursday, as Libya lifted its force majeure on four oil ports and trade tensions weighed.

West Texas Crude oil futures fell 0.71% to $69.89 a barrel as of 10:42 AM ET (14:42 GMT). Meanwhile Brent crude futures, the benchmark for oil prices outside the U.S., rose 0.41% to $73.70.

Prices were held back by news on Thursday that Libya lifted a force majeure on four oil ports and indicated production would return to normal levels.

Meanwhile global crude production capacity could be “stretched to the limit,” the International Energy Agency said in its latest forecast on Thursday.

The Paris-based organization said in its monthly report that there was “no sign of higher production from elsewhere that might ease fears of market tightness.”

Crude output from the Organization of the Petroleum Exporting Countries and Russia, rose to a four-month high in June, up 180,000 barrels per day (bpd) to 31.87 million bpd, the IEA said.

OPEC agreed in June to raise output at a nominal increase of 1 million barrels a day (bpd) amid pressure from the U.S. to decrease prices. While OPEC members are expected to add around 700,000 barrels a day, non-OPEC oil suppliers led by Russia would add the rest. 

Trade tensions also weighed on oil, as U.S. President Donald Trump threatened this week to impose tariffs on additional $200 billion in Chinese goods. Trump visits the UK on Thursday after ending a two-day NATO summit where he urged members to increase their commitment targets.

In other energy trading, gasoline futures decreased 0.17% at $2.0709 a gallon, while heating oil rose 0.31% to $2.1074 a gallon. Natural gas futures were down 0.64% to $2.811 per million British thermal units.

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Mizuho Says Sell Chipotle After Huge Rally

- Enough is enough.
After an 80% spike since Brian Niccol was named CEO in February, Chipotle shares were downgraded to sell by Mizuho.
In a note to clients, the Wall Street firm said investors "should reduce their risk" because the stock price already reflects an "aggressive recovery" in sales and profit margins.
Niccol recently outlined his turnaround plan for the burrito chain, but analysts called it short on details.
Given that, Mizuho said there are no clear catalysts to "justify significant earnings upside."
Mizuho, however, did acknowledge Niccol's "impressive track record" as CEO of Taco Bell, calling him the "best choice to lead Chipotle."
Niccol replaced founder Steve Ells, who struggled to guide the company back from a series of food safety incidents dating back to 2015.
The stock traded as high as $750 a share back then.

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Natural Gas Futures Stay Lower After Weekly Storage Data

- Natural gas futures stayed lower on Thursday, despite data showing that supplies in storage rose less than forecast last week.

Front-month U.S. natural gas futures inched down 1.4 cents, or around 0.5%, to $2.816 per million British thermal units (btu) by 10:33AM ET. Futures were at around $2.824 prior to the release of the supply data.

The U.S. Energy Information Administration said in its weekly report that natural gas storage in the U.S. rose by 51 billion cubic feet (bcf) in the week ended July 6, below forecasts for a gain of 55 bcf.

That compared with a build of 78 bcf in the preceding week, an increase of 57 bcf a year earlier and a five-year average rise of 77 bcf.

Total natural gas in storage currently stands at 2.203 trillion cubic feet (tcf), according to the U.S. Energy Information Administration.

That figure is 725 bcf, or around 24.7%, lower than levels at this time a year ago, and 519 bcf, or roughly 19.0%, below the five-year average for this time of year.

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Saudi Arabia stocks lower at close of trade; Tadawul All Share down 0.31%

– Saudi Arabia stocks were lower after the close on Thursday, as losses in the Real Estate Development, Insurance and Financial Services sectors led shares lower.

At the close in Saudi Arabia, the Tadawul All Share declined 0.31%.

The best performers of the session on the Tadawul All Share were Saudi Arabia Refineries Co. (SE:2030), which rose 9.94% or 4.35 points to trade at 48.10 at the close. Meanwhile, United Electronics Company (SE:4003) added 4.10% or 2.40 points to end at 61.00 and Saudi Ground Services Co (SE:4031) was up 4.05% or 1.45 points to 37.25 in late trade.

The worst performers of the session were Amana Cooperative Insurance Co (SE:8310), which fell 2.98% or 0.66 points to trade at 21.50 at the close. National Com Bnk (SE:1180) declined 2.27% or 1.10 points to end at 47.35 and Arabian Pipes Company (SE:2200) was down 2.26% or 0.28 points to 12.10.

Falling stocks outnumbered advancing ones on the Saudi Arabia Stock Exchange by 97 to 66 and 20 ended unchanged.

Shares in Saudi Arabia Refineries Co. (SE:2030) rose to 52-week highs; up 9.94% or 4.35 to 48.10.

Crude oil for August delivery was up 0.48% or 0.34 to $70.72 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 1.05% or 0.77 to hit $74.17 a barrel, while the August Gold Futures contract rose 0.18% or 2.20 to trade at $1246.60 a troy ounce.

EUR/SAR was up 0.03% to 4.3799, while USD/SAR rose 0.00% to 3.7504.

The US Dollar Index Futures was up 0.03% at 94.51.

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U.S. Annual Inflation Rises 2.9% in June

- U.S. consumer price inflation accelerated in June, according to data released on Thursday, supporting the argument for a faster pace of monetary tightening by the Federal Reserve this year.

Consumer inflation rose by an annualized 2.9% in June the Labor Department said, up from 2.8% in the previous month. The consensus forecast was for a reading of 2.9%. It was the highest reading in six years.

Last week’s minutes of the Federal Reserve’s June meeting said economic growth is “progressing smoothly” with activity “expanding at a solid rate,” and “labor market conditions continuing to strengthen.”

The minutes also noted that uncertainty and risks associated with trade policy had intensified.

At that meeting, Fed officials hiked interest rates for the second time this year and indicated that they were likely to increase rates twice more in 2018 and three more times in 2019.

The Fed tracks a different inflation measure, the personal consumption expenditures price index excluding food and energy, which hit its 2% target in May for the first time in six years.

Fed officials have indicated they would not be too concerned with inflation overshooting the target.

Month-on-month, CPI rose 0.1%, down from 0.2% in May and below forecasts of 0.2%.

Core CPI, a key gauge of underlying consumer price pressures that excludes food and energy costs, increased by 0.2% from a month earlier, in line with the consensus forecast.

In the 12 months through June, core CPI rose 2.3%, also in line with forecasts.

Core prices are viewed by the Fed as a better gauge of longer-term inflationary pressure precisely because they exclude the volatile food and energy categories.

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Weekly Comic: Trump Escalates Trade War Against China, Europe

- All eyes were on escalating trade rhetoric this week as investors attempted to work out whether a series of tit-for-tat responses between the U.S. and China will end in negotiations or an all-out trade war between the world’s two largest economies.

The Trump administration raised the stakes in its trade dispute with China, threatening 10% tariffs on an extra $200 billion worth of Chinese imports late Tuesday, pushing the world's two biggest economies ever closer to a full-scale trade war.

The tariffs will not go into effect immediately but will undergo a two-month review process, with hearings August 20-23.

Washington proposed the extra tariffs after efforts to negotiate a solution to the dispute failed to reach an agreement, senior administration officials said.

China accused the U.S. of bullying and warned it would hit back, but did not immediately say how it would retaliate.

It was the latest development in escalating trade tensions between the world's two largest economies.

Last week, Washington imposed 25% tariffs on $34 billion of Chinese imports, and Beijing responded immediately with matching tariffs on the same amount of U.S. exports to China.

Investors are worried that threats of higher U.S. tariffs and retaliatory measures by others could hit global growth and damage sentiment.

Meanwhile, in Europe, President Donald Trump participated at a summit of leaders of NATO countries in Brussels, where he reiterated the U.S. commitment to NATO and claimed credit for an agreement that he says will "significantly" increase military spending among the 29-member states.

Trump denied reports that he had threatened to pull out of the alliance, but nonetheless said he "probably could" withdraw from the treaty without congressional approval. However, he said such a move wasn't necessary given the agreements reached following a two-day summit in Brussels in which he took a "very firm" tone with its alliance allies.

The President's comments follow reports that he slammed NATO leaders again Thursday over what he has described as a lack of financial commitment to the military defence of America's European allies.

To see more of ’s weekly comics, visit: http://www.investing.com/analysis/comics

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Rates to Stay at Current Levels as Long as Needed, ECB Minutes Say

- Interest rates will remain at current levels for as long as needed to raise inflation towards its target, the minutes of the European Central Bank’s June meeting said on Thursday.

The minutes of the bank’s June 13-14 meeting noted that the open-endedness of interest rate guidance should be emphasized.

At that meeting, the ECB signaled plans to wind up its bond purchasing program stimulus program by the end of the year, but reiterated that it expects to keep interest rates on hold "through the summer of 2019".

The ECB said that it anticipates its asset purchase program will end in December after halving to €15 billion per month in September from €30 billion at present.

The minutes said that given uncertainty it would be prudent to leave the end of quantitative easing conditional on incoming economic data.

Policymakers also cautioned that a slowdown in growth seen in the first quarter was likely to extend into the second quarter for some countries, implying near-term risks to the economic outlook.

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India stocks higher at close of trade; Nifty 50 up 0.68%

– India stocks were higher after the close on Thursday, as gains in the Oil&Gas, Banking and Capital Goods sectors led shares higher.

At the close in NSE, the Nifty 50 added 0.68% to hit a new 3-months high, while the BSE Sensex 30 index climbed 0.78%.

The best performers of the session on the Nifty 50 were Reliance Industries Ltd (NS:RELI), which rose 4.05% or 42.10 points to trade at 1082.35 at the close. Meanwhile, Bharat Petroleum Corp. Ltd. (NS:BPCL) added 2.89% or 10.60 points to end at 377.35 and Wipro Ltd (NS:WIPR) was up 2.46% or 6.70 points to 279.45 in late trade.

The worst performers of the session were UPL Ltd (NS:UPLL), which fell 4.21% or 25.40 points to trade at 581.95 at the close. Vedanta Ltd (NS:VDAN) declined 2.87% or 6.25 points to end at 211.40 and Bajaj Auto Ltd (NS:BAJA) was down 2.04% or 64.45 points to 3096.70.

The top performers on the BSE Sensex 30 were Reliance Industries Ltd (BO:RELI) which rose 4.42% to 1082.20, Wipro Ltd (BO:WIPR) which was up 2.44% to settle at 279.50 and Larsen&Toubro Ltd (BO:LART) which gained 1.94% to close at 1299.75.

The worst performers were Vedanta Ltd (BO:VDAN) which was down 3.05% to 211.35 in late trade, Infosys Ltd (BO:INFY) which lost 1.95% to settle at 1294.60 and Tata Motors Ltd DVR (BO:TAMdv) which was down 1.68% to 152.30 at the close.

Falling stocks outnumbered advancing ones on the India National Stock Exchange by 922 to 686 and 55 ended unchanged; on the Bombay Stock Exchange, 1439 fell and 1116 advanced, while 157 ended unchanged.

Shares in Reliance Industries Ltd (NS:RELI) rose to all time highs; rising 4.05% or 42.10 to 1082.35. Shares in UPL Ltd (NS:UPLL) fell to 52-week lows; falling 4.21% or 25.40 to 581.95. Shares in Vedanta Ltd (NS:VDAN) fell to 52-week lows; down 2.87% or 6.25 to 211.40. Shares in Reliance Industries Ltd (BO:RELI) rose to all time highs; gaining 4.42% or 45.85 to 1082.20. Shares in Vedanta Ltd (BO:VDAN) fell to 52-week lows; down 3.05% or 6.65 to 211.35. Shares in Tata Motors Ltd DVR (BO:TAMdv) fell to 3-years lows; down 1.68% or 2.60 to 152.30.

The India VIX, which measures the implied volatility of Nifty 50 options, was down 2.11% to 12.5050.

Gold Futures for August delivery was down 0.03% or 0.40 to $1244.00 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August rose 0.81% or 0.57 to hit $70.95 a barrel, while the September Brent oil contract rose 1.39% or 1.02 to trade at $74.42 a barrel.

USD/INR was down 0.45% to 68.535, while EUR/INR fell 0.24% to 80.0370.

The US Dollar Index Futures was up 0.11% at 94.58.

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Defensive Stocks Shine As Trade War Flares

- Investors who chose to take a defensive approach with the rise of trade tensions months ago have been duly rewarded.
Utilities, pharmaceuticals, small caps, and consumer staples have all outperformed the broader market.

The thinking, according to investment strategists, is that all of these groups are less exposed to a trade war, because they are less reliant on exports.

In addition, the fortunes of defensive stocks do not rise and fall with the ups and downs of the economy.
Thus far, pharmaceutical stocks have been the standout performer.

The pharmaceutical sector is up 14% since early May, five times the gain of the S&P 500.

The Russell 2000 index of small-cap stocks is up more than 10% during that time, while hitting new record highs.

Consumer staples, which includes food companies, are up more than six percent.

And utilities have gained about 5%, double the S&P's gain.

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Morgan Stanley: Time To Sell Tech Stocks

Inveting.com - For the second time this year, Morgan Stanley (NYSE:MS) has downgraded the tech sector.
And this time the Wall Street firm says it's time to sell.
In a note to clients, Morgan downgraded tech from equal weight to underweight, saying the tech sector is vulnerable to a correction.
Unlike the Dow Industrials and S&P 500, the Nasdaq Composite did not suffer a 10% correction in February and has continued to hit record highs.
Morgan says tech stocks are "over-owned and over-loved."
The firm says tech companies are particularly vulnerable to a trade war, given their high percentage of sales to China and other overseas markets.
Morgan says tech "will not be immune to the changing attitude toward risk assets we are seeing across markets."

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China stocks higher at close of trade; Shanghai Composite up 2.18%

– China stocks were higher after the close on Thursday, as gains in the Technology Hardware&Equipment, Technology and Software&Computer Services sectors led shares higher.

At the close in Shanghai, the Shanghai Composite rose 2.18%, while the SZSE Component index gained 2.77%.

The best performers of the session on the Shanghai Composite were Starlake Bioscience Co Inc Zhaoqing Guangdong (SS:600866), which rose 10.12% or 0.420 points to trade at 4.570 at the close. Meanwhile, Start Group (SS:600734) added 10.05% or 0.620 points to end at 6.790 and Zhejiang XCC Group Co Ltd (SS:603667) was up 10.03% or 1.080 points to 11.850 in late trade.

The worst performers of the session were Jiangquan Ind (SS:600212), which fell 10.04% or 0.560 points to trade at 5.020 at the close. Fujian Furi Electronics Co Ltd (SS:600203) declined 9.99% or 0.85 points to end at 7.66 and Ningxia Xinri Hengli Steel Wire Rope Co Ltd (SS:600165) was down 9.95% or 0.970 points to 8.780.

The top performers on the SZSE Component were Shenzhen Worldunion Properties Consultancy Inc (SZ:002285) which rose 10.07% to 6.34, Anhui Shengyun Environment-Protection Group Co Ltd (SZ:300090) which was up 10.06% to settle at 3.94 and Suzhou Anjie Technology Co Ltd (SZ:002635) which gained 10.03% to close at 18.43.

The worst performers were Yinji Entertainment Media Co Ltd (SZ:002143) which was down 9.99% to 7.93 in late trade, Shenzhen Jiawei Photovoltaic Lighting Co Ltd (SZ:300317) which lost 1.00% to settle at 7.96 and ShenZhen YUTO Packaging Technology Co Ltd (SZ:002831) which was down 0.70% to 53.90 at the close.

Rising stocks outnumbered declining ones on the Shanghai Stock Exchange by 1366 to 41 and 4 ended unchanged.

Shares in Jiangquan Ind (SS:600212) fell to 3-years lows; down 10.04% or 0.560 to 5.020. Shares in Ningxia Xinri Hengli Steel Wire Rope Co Ltd (SS:600165) fell to 52-week lows; losing 9.95% or 0.970 to 8.780. Shares in Yinji Entertainment Media Co Ltd (SZ:002143) fell to 3-years lows; falling 9.99% or 0.88 to 7.93.

The CBOE China Etf Volatility, which measures the implied volatility of Shanghai Composite options, was unchanged 0.00% to 24.24.

Gold Futures for August delivery was up 0.06% or 0.70 to $1245.10 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August rose 0.48% or 0.34 to hit $70.72 a barrel, while the September Brent oil contract rose 1.65% or 1.21 to trade at $74.61 a barrel.

USD/CNY was down 0.11% to 6.6733, while EUR/CNY fell 0.06% to 7.7957.

The US Dollar Index Futures was unchanged 0.00% at 94.48.

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Taiwan stocks higher at close of trade; Taiwan Weighted up 0.58%

– Taiwan stocks were higher after the close on Thursday, as gains in the Electronic Parts/Components, Biotech&Medical Care and Electricity sectors led shares higher.

At the close in Taiwan, the Taiwan Weighted rose 0.58%.

The best performers of the session on the Taiwan Weighted were Phytohealth Corp (TW:4108), which rose 9.93% or 2.15 points to trade at 23.80 at the close. Meanwhile, Hotel Holiday Garden (TW:2702) added 9.93% or 2.00 points to end at 22.15 and Apex International Co Ltd (TW:4927) was up 9.90% or 2.50 points to 27.75 in late trade.

The worst performers of the session were Career Technology MFG Co Ltd (TW:6153), which fell 8.98% or 5.20 points to trade at 52.70 at the close. Gem Terminal Industry Co Ltd (TW:2460) declined 3.89% or 0.55 points to end at 13.60 and Crowell Development Corp (TW:2528) was down 3.81% or 0.60 points to 15.15.

Rising stocks outnumbered declining ones on the Taiwan Stock Exchange by 583 to 224 and 105 ended unchanged.

Shares in Hotel Holiday Garden (TW:2702) rose to 5-year highs; up 9.93% or 2.00 to 22.15. Shares in Apex International Co Ltd (TW:4927) rose to 52-week highs; up 9.90% or 2.50 to 27.75.

Crude oil for August delivery was up 0.45% or 0.32 to $70.70 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 1.62% or 1.19 to hit $74.59 a barrel, while the August Gold Futures contract fell 0.04% or 0.50 to trade at $1243.90 a troy ounce.

USD/TWD was down 0.35% to 30.547, while TWD/CNY rose 0.23% to 0.2184.

The US Dollar Index Futures was down 0.01% at 94.47.

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Australia stocks higher at close of trade; S&P/ASX 200 up 1.00%

– Australia stocks were higher after the close on Thursday, as gains in the Healthcare, IT and Financials sectors led shares higher.

At the close in Sydney, the S&P/ASX 200 added 1.00%.

The best performers of the session on the S&P/ASX 200 were Wisetech Global Ltd (AX:WTC), which rose 5.88% or 0.950 points to trade at 17.110 at the close. Meanwhile, Sonic Healthcare Ltd (AX:SHL) added 5.85% or 1.470 points to end at 26.590 and Afterpay Touch Group Ltd (AX:APT) was up 4.52% or 0.470 points to 10.870 in late trade.

The worst performers of the session were G8 Education Ltd (AX:GEM), which fell 3.20% or 0.080 points to trade at 2.420 at the close. Origin Energy Ltd (AX:ORG) declined 2.88% or 0.280 points to end at 9.450 and Charter Hall Long WALE REIT (AX:CLW) was down 2.87% or 0.125 points to 4.235.

Rising stocks outnumbered declining ones on the Sydney Stock Exchange by 642 to 466 and 398 ended unchanged.

Shares in Sonic Healthcare Ltd (AX:SHL) rose to all time highs; up 5.85% or 1.470 to 26.590. Shares in Afterpay Touch Group Ltd (AX:APT) rose to all time highs; gaining 4.52% or 0.470 to 10.870.

The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was down 2.99% to 12.733.

Gold Futures for August delivery was down 0.11% or 1.40 to $1243.00 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August rose 0.57% or 0.40 to hit $70.78 a barrel, while the September Brent oil contract rose 1.74% or 1.28 to trade at $74.68 a barrel.

AUD/USD was up 0.18% to 0.7381, while AUD/JPY rose 0.47% to 82.89.

The US Dollar Index Futures was up 0.04% at 94.52.

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Bitcoin Edges Up; Officials Say India is Unlikely to Ban Cryptocurrency

– Bitcoin edged up on Thursday and other major cryptocurrencies also rose. Reports that government officials said India is unlikely to ban cryptocurrency were cited as supportive.

Bitcoin was trading at $6,353.6 by 12:45AM ET (04:45 GMT) on the Bitfinex exchange, up 0.04% over the previous 24 hours.     

Ethereum, the world’s second largest cryptocurrency by market cap, gained 2.0% to $441.6 on the Bitfinex exchange.     

Ripple’s XRP token rose 0.1% to $0.44677 on the Poloniex exchange.     

Meanwhile, Litecoin traded 1.2% higher to $77.610.   

A senior government official said in an interview that a cryptocurrency panel set up by India’s finance ministry has concluded that virtual currencies should be regulated as commodities and are unlikely to face a ban.

“I don’t think anyone is really thinking of banning it [cryptocurrencies] altogether. The issue here is about regulating the trade and we need to know where the money is coming from. Allowing it as a commodity may let us better regulate trade and so that is being considered,” the official said.

The official then said cryptocurrency trading itself is not a criminal offence, although authorities should make sure the money used is not illegal money.

“Trade is not a criminal offence. Most of us trade in various asset classes in the stock market. So how is this [cryptocurrency trading] any different?” the official added.

In other news, South Korean news outlet The Korea Times reported that the country’s lawmakers are set to submit new bills on cryptocurrency, ICO, and blockchain regulations later this month.

"It is unclear if any of the bills will become law during the session because opinions remain widely divided and more urgent political and economic issues are on the table. But at least their submissions will play a "catalyst" role in triggering,related debate within the Assembly," The Korea Times said.

"Rep. Song Hee-kyung of the LPK will host a policy debate on the security of domestic crypto exchanges on July 19. The Korea Internet and Security Agency (KISA), which has been conducting a security inspection of crypto exchanges here since July 2, will co-host the debate," the article added.

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Dollar Firms on Strong U.S. Inflation; Yuan Falls Below Key Level

– The Dollar firmed against its peers and traded near a six-month high against the yen on Thursday as the U.S. Labor Department's expectation-beating inflation report boosted confidence in the world's top economy.

The latest U.S. economic data reaffirmed expectations that the Federal Reserve will hike interest rates two more times this year.

The U.S. Dollar Index, which tracks the greenback against a basket of currencies, was up 0.04% at 94.76 by 12:11AM ET (04:11 GMT).

Meanwhile, the USD/CNY pair rose 0.15% to 6.6911 on Thursday. The Chinese yuan sank as much as 1.1% overnight and saw its biggest loss since January 2016 amid escalating trade concerns between the U.S. and China.

The latest trade development also pushed the Chinese equity markets into their worst selloff since three years ago.

On Wednesday, the Trump administration threaten to impose tariffs on $200 billion in Chinese goods. The 10% tariffs will not take effect immediately but will undergo a two-month review process.

In response, China's commerce ministry said in a statement released around midday on Wednesday that it was "shocked" by the latest U.S. trade action and urged international community to work together against the trade bullying, while calling the actions "completely unacceptable". 

Looking forward, traders will be watching to see what Chinese policymakers do to defend the Chinese currency. The Chinese authorities made remarks last week to assure markets it would keep the currency stable.

Elsewhere, the USD/JPY pair traded 0.22% higher to 112.24.

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Mexico stocks higher at close of trade; S&P/BMV IPC up 0.07%

– Mexico stocks were higher after the close on Wednesday, as gains in the Consumer Goods&Services, Telecoms Services and Healthcare sectors led shares higher.

At the close in Mexico, the S&P/BMV IPC rose 0.07%.

The best performers of the session on the S&P/BMV IPC were Grupo Elektra , S.A.B. De C.V. (MX:ELEKTRA), which rose 5.62% or 32.27 points to trade at 606.27 at the close. Meanwhile, Grupo Financiero Santander Mexico SAB de CV Class B (MX:BSMXB) added 3.30% or 0.960 points to end at 29.980 and Grupo Televisa SAB Unit (MX:TLVACPO) was up 3.20% or 2.46 points to 79.35 in late trade.

The worst performers of the session were Wal - Mart De Mexico, SAB De CV (MX:WALMEX), which fell 3.57% or 1.970 points to trade at 53.170 at the close. Grupo Mexico, S.A.B. De C.V. (MX:GMEXICOB) declined 2.95% or 1.670 points to end at 54.900 and Alfa, S.A.B. De C.V. (MX:ALFAA) was down 1.79% or 0.420 points to 23.080.

Falling stocks outnumbered advancing ones on the Mexico Stock Exchange by 154 to 125 and 10 ended unchanged.

Gold Futures for August delivery was down 1.08% or 13.60 to $1241.80 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August fell 4.64% or 3.44 to hit $70.67 a barrel, while the September Brent oil contract fell 6.10% or 4.81 to trade at $74.05 a barrel.

USD/MXN was up 0.68% to 19.0590, while EUR/MXN rose 0.09% to 22.2496.

The US Dollar Index Futures was up 0.68% at 94.49.

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Canada stocks lower at close of trade; S&P/TSX Composite down 0.81%

– Canada stocks were lower after the close on Wednesday, as losses in the Materials, Energy and Industrials sectors led shares lower.

At the close in Toronto, the S&P/TSX Composite declined 0.81%.

The best performers of the session on the S&P/TSX Composite were ECN Capital Corp (TO:ECN), which rose 2.71% or 0.10 points to trade at 3.79 at the close. Meanwhile, Restaurant Brands Intl (TO:QSR) added 2.45% or 1.99 points to end at 83.10 and Maple Leaf Foods Inc . (TO:MFI) was up 2.39% or 0.80 points to 34.24 in late trade.

The worst performers of the session were First Quantum Minerals Ltd . (TO:FM), which fell 7.07% or 1.40 points to trade at 18.39 at the close. HudBay Minerals Inc (TO:HBM) declined 5.71% or 0.41 points to end at 6.77 and Yamana Gold Inc (TO:YRI) was down 5.20% or 0.21 points to 3.83.

Falling stocks outnumbered advancing ones on the Toronto Stock Exchange by 627 to 466 and 111 ended unchanged.

Shares in HudBay Minerals Inc (TO:HBM) fell to 52-week lows; losing 5.71% or 0.41 to 6.77.

The S&P/TSX 60 VIX, which measures the implied volatility of S&P/TSX Composite options, was up 2.68% to 13.41.

Gold Futures for August delivery was down 1.05% or 13.20 to $1242.20 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August fell 4.64% or 3.44 to hit $70.67 a barrel, while the September Brent oil contract fell 6.14% or 4.84 to trade at $74.02 a barrel.

CAD/USD was down 0.72% to 0.7571, while CAD/EUR fell 0.14% to 0.6484.

The US Dollar Index Futures was up 0.67% at 94.48.

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Colombia stocks lower at close of trade; COLCAP down 0.45%

– Colombia stocks were lower after the close on Wednesday, as losses in the Industrials, Investment and Services sectors led shares lower.

At the close in Colombia, the COLCAP declined 0.45%.

The best performers of the session on the COLCAP were Grupo Aval Acciones y Valores SA Pref (CN:GAA_p), which rose 0.84% or 10.0 points to trade at 1200.0 at the close. Meanwhile, Grupo Nutresa SA (CN:NCH) added 0.37% or 100.0 points to end at 27200.0 and Almacenes Exito SA (CN:IMI) was up 0.25% or 40.0 points to 16140.0 in late trade.

The worst performers of the session were Etb (CN:ETB), which fell 3.40% or 13.0 points to trade at 369.0 at the close. Ecopetrol SA (CN:ECO) declined 2.15% or 65.0 points to end at 2955.0 and Cementos Argos Pf (CN:CCB_p) was down 1.64% or 140.0 points to 8400.0.

Falling stocks outnumbered advancing ones on the Colombia Stock Exchange by 17 to 8 and 6 ended unchanged.

Shares in Etb (CN:ETB) fell to all time lows; falling 3.40% or 13.0 to 369.0.

US coffee C for September delivery was down 2.18% or 2.50 to $112.03 . Elsewhere in commodities trading, US cocoa for delivery in September fell 0.74% or 18.50 to hit $2476.00 , while the August Gold Futures contract fell 1.04% or 13.00 to trade at $1242.40 a troy ounce.

USD/COP was down 0.45% to 2871.50, while BRL/COP fell 2.00% to 741.03.

The US Dollar Index Futures was up 0.68% at 94.49.

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Day Ahead: Top 3 Things to Watch

- Here’s a preview of the top 3 things that could rock markets tomorrow.

1. June CPI Seen Staying Tame

Tomorrow the highlight of the economic data will be consumer inflation. The measure of wholesale inflation released Wednesday came in a little hotter than expected.

Economists forecast that in June the consumer price index (CPI) and the core CPI, which excludes volatile food and energy prices, rose 0.2% month over month.

June year-over-year CPI is expected come in at 2.9%, a tad higher than the previous month.

There will also be the weekly data for initial jobless claims, expected to dip slightly form the week before.

2. Fed’s Kashkari and Harker Set to Speak

While the economic data arrive ahead of trading, investors focused on the path of interest rates will also be parsing comments by Minneapolis Fed President Neel Kashkari.

He is scheduled to speak at 8:30 AM ET (12:30 GMT) at a panel on immigration, but may have remarks germane to Fed policy. Kashkari, considered a dove on rates, told Bloomberg recently he is comfortable with rates moving to neutral, but doesn’t think a restrictive rate policy is warranted.

On Wednesday, Chicago Fed President Charles Evans gave some hawkish comments, telling The Wall Street Journal that the strength of the economy means businesses and consumers can live with slightly higher rates.

Philadelphia Fed President Pat Harker will also give a speech Thursday at 12:15 PM ET (16:15 GMT). Harker is also in the camp for rates to rise just to a neutral level.

3. Investors Will Be Watching Delta’s Guidance Closely

Delta Air Lines (NYSE:DAL) is the one major company reporting earnings Thursday.

On average, analysts expect the carrier to report before the bell a profit of $1.74 per share for the latest quarter on revenue of $11.65 billion.

The company itself already lowered second-quarter profit guidance last June to a range of $1.65 to $1.75 a share, so investors may be more focused on its guidance for the third quarter.

Last week, Deutsche Bank (DE:DBKGn) downgraded Delta to hold, citing a lack of positive catalysts. Deutsche also cut ratings on United Continental (NYSE:UAL) and American Airlines (NASDAQ:AAL).

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Trade-War Jitters Rock Metals Prices; Gold Stumbles as Dollar Rallies

– Gold prices tumbled Wednesday, as the dollar added to gains, while the Trump administration's threat of further tariffs on Chinese goods roiled other metals as copper sank to a nearly one-year low.

Gold futures for August delivery on the Comex division of the New York Mercantile Exchange fell by $10.60 or 0.37%, to $1,255.00 a troy ounce, hovering just above an intraday low of $1,247.80.

The White House issued a list late Tuesday of 10% tariffs on $200 billion worth of Chinese imports it will assess.

The threat of further U.S. tariffs on Chinese goods failed to garner investor demand for safe-haven gold, as dollar strength continued to keep a lid on the yellow metal.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, rose by 0.61% to 94.41 amid positive wholesale inflation data Tuesday.

As well as positive U.S. wholesale inflation data Tuesday, the U.S. Senate's approval of a motion to give Congress a role in reviewing President Donald Trump's decision to impose tariffs on national security grounds, also boosted the greenback.

Dollar-denominated commodities such as gold are sensitive to moves in the dollar. A rise in the dollar makes gold more expensive for holders of foreign currency, reducing demand for the precious metal.

Renewed trade-war concerns drew a large negative reaction from other metals as copper, zinc, aluminium and nickel fell sharply on expectations that a trade-war would limit demand from China – responsible for more than half of the world's total metal consumption.

Copper prices, fell 3.40% to $2.74, while zinc prices fell 2.60% to 2,557.50.

Aluminium prices fell 1.23% to 2,062.00, while Nickel Futures fell 1.59%.

Silver futures fell 1.27% to $15.81 a troy ounce, while platinum futures lost 1.63% to $832.40.

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Nigeria stocks lower at close of trade; NSE 30 down 0.37%

– Nigeria stocks were lower after the close on Wednesday, as losses in the Insurance, Food, Beverages&Tobacco and Banking sectors led shares lower.

At the close in Lagos, the NSE 30 declined 0.37% to hit a new 1-month low.

The best performers of the session on the NSE 30 were Dangsugar (LAGOS:DANGSUG), which rose 5.14% or 0.90 points to trade at 18.40 at the close. Meanwhile, Uacn Prop (LAGOS:UACN) added 2.65% or 0.35 points to end at 13.55 and Union Bank LG (LAGOS:UBN) was up 1.69% or 0.10 points to 5.85 in late trade.

The worst performers of the session were Pz Cussons LG (LAGOS:PZ), which fell 8.68% or 1.65 points to trade at 17.35 at the close. Skye Bank (LAGOS:SKYEBAN) declined 7.14% or 0.050 points to end at 0.680 and Wapco (LAGOS:WAPCO) was down 5.17% or 1.85 points to 33.10.

Falling stocks outnumbered advancing ones on the Lagos by 59 to 28 and 19 ended unchanged.

Shares in Wapco (LAGOS:WAPCO) fell to 5-year lows; falling 5.17% or 1.85 to 33.10.

Crude oil for August delivery was down 3.36% or 2.49 to $71.62 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September fell 4.43% or 3.49 to hit $75.37 a barrel, while the August Gold Futures contract fell 0.90% or 11.30 to trade at $1244.10 a troy ounce.

EUR/NGN was up 0.07% to 421.640, while USD/NGN rose 0.28% to 361.000.

The US Dollar Index Futures was up 0.59% at 94.40.

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U.S. Dollar Higher on Positive Economic Data, Euro Weakness

– The dollar rose Wednesday as data showing U.S. wholesale prices increased at a faster pace than anticipated last month raised investor expectations for stronger inflation, increasing the prospect of further Fed rate hikes.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, rose by 0.36% to 94.19.

The Labor Department said on Wednesday its producer price index for final demand increased 0.3% last month.

In the 12 months through June, the PPI rose 3.4% after rising 3.1% in May. This was the biggest annual increase in 6-1/2 years, stoking expectations the Fed could adopt a more aggressive stance on monetary policy tightening to rein in inflation.

Euro weakness also pushed the greenback higher, as the single currency pared gains which followed a report ECB members were split over when to raise rates.

Some policymakers said an increase was possible as early as July 2019, while others suggested a move was unlikely until autumn next year, Reuters reported Wednesday, citing sources.

EUR/USD fell 0.33% to $1.71705.

The return of U.S.-China trade war jitters, meanwhile, did little to lift safe-haven currencies as both the yen and Swiss franc were under pressure against the greenback.

USD/JPY rose 0.83% to Y111.91, while USD/CHF rose 0.30% to 0.9923.

The White House issued a list late Tuesday of 10% tariffs on $200 billion worth of Chinese imports it will assess.

USD/CAD rose 0.26% to C$1.3148 after Bank of Canada raised interest rates Wednesday, and said it expected GDP to come in at 2.8% for the year.

But analysts said the 2.8% year-end GDP target was somewhat optimistic, and suggested that the loonie would continue to weaken.

"As things stand today, the 2.8% predicted growth for 2018 Q2 looks a touch optimistic … We remain biased for USD/CAD to re-test its 2018 highs in the coming weeks and months," TD Securities said in a note to clients.

GBP/USD fell 0.42% to $1.3220.

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Portugal stocks lower at close of trade; PSI 20 down 0.44%

– Portugal stocks were lower after the close on Wednesday, as losses in the Telecoms, Consumer Goods and Industrials sectors led shares lower.

At the close in Lisbon, the PSI 20 declined 0.44%.

The best performers of the session on the PSI 20 were Altri SGPS (LS:ALSS), which rose 1.00% or 0.0900 points to trade at 9.0600 at the close. Meanwhile, EDP (LS:EDP) added 0.43% or 0.0150 points to end at 3.5050 and Banco Comercial Portugues (LS:BCP) was up 0.27% or 0.0007 points to 0.2581 in late trade.

The worst performers of the session were Mota Engil (LS:MOTA), which fell 2.27% or 0.0700 points to trade at 3.0200 at the close. Ibersol SGPS (LS:IBS) declined 2.03% or 0.250 points to end at 12.050 and Galp Energia Nom (LS:GALP) was down 1.48% or 0.2550 points to 17.0100.

Falling stocks outnumbered advancing ones on the Lisbon Stock Exchange by 21 to 8 and 8 ended unchanged.

Shares in Altri SGPS (LS:ALSS) rose to all time highs; gaining 1.00% or 0.0900 to 9.0600. Shares in EDP (LS:EDP) rose to 52-week highs; rising 0.43% or 0.0150 to 3.5050.

Brent oil for September delivery was down 3.63% or 2.86 to $76.00 a barrel. Elsewhere in commodities trading, Crude oil for delivery in August fell 2.59% or 1.92 to hit $72.19 a barrel, while the August Gold Futures contract fell 0.73% or 9.20 to trade at $1246.20 a troy ounce.

EUR/USD was down 0.36% to 1.1702, while EUR/GBP rose 0.06% to 0.8851.

The US Dollar Index Futures was up 0.43% at 94.25.

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Finland stocks lower at close of trade; OMX Helsinki 25 down 1.26%

– Finland stocks were lower after the close on Wednesday, as losses in the Healthcare, Basic Materials and Technology sectors led shares lower.

At the close in Helsinki, the OMX Helsinki 25 lost 1.26%.

The best performers of the session on the OMX Helsinki 25 were YIT Oyj (HE:YIT), which fell 0.10% or 0.01 points to trade at 5.00 at the close. Meanwhile, Valmt (HE:VALMT) fell 0.12% or 0.02 points to end at 16.57 and Elisa Oyj (HE:ELISA) was down 0.17% or 0.07 points to 41.39 in late trade.

The worst performers of the session were Orion Oyj B (HE:ORNBV), which fell 3.15% or 0.74 points to trade at 22.78 at the close. Outokumpu Oyj (HE:OUT1V) declined 2.61% or 0.1400 points to end at 5.2300 and Metsa Board Oyj B (HE:METSB) was down 2.55% or 0.245 points to 9.365.

Falling stocks outnumbered advancing ones on the Helsinki Stock Exchange by 106 to 26 and 20 ended unchanged.

Brent oil for September delivery was down 3.35% or 2.64 to $76.22 a barrel. Elsewhere in commodities trading, Crude oil for delivery in August fell 2.32% or 1.72 to hit $72.39 a barrel, while the August Gold Futures contract fell 0.71% or 8.90 to trade at $1246.50 a troy ounce.

EUR/USD was down 0.28% to 1.1711, while EUR/GBP rose 0.07% to 0.8852.

The US Dollar Index Futures was up 0.35% at 94.18.

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Netherlands stocks lower at close of trade; AEX down 1.31%

– Netherlands stocks were lower after the close on Wednesday, as losses in the Oil&Gas, Basic Materials and Technology sectors led shares lower.

At the close in Amsterdam, the AEX declined 1.31%.

The best performers of the session on the AEX were Heineken (AS:HEIN), which rose 0.68% or 0.60 points to trade at 88.34 at the close. Meanwhile, Relx NV (AS:RELN) added 0.48% or 0.090 points to end at 18.685 and Gemalto (AS:GTO) was up 0.20% or 0.10 points to 50.22 in late trade.

The worst performers of the session were ArcelorMittal SA (AS:MT), which fell 3.68% or 0.945 points to trade at 24.725 at the close. Royal Dutch Shell PLC Class A (AS:RDSa) declined 2.23% or 0.680 points to end at 29.800 and Aalberts Industries NV (AS:AALB) was down 2.19% or 0.89 points to 39.68.

Falling stocks outnumbered advancing ones on the Amsterdam Stock Exchange by 82 to 44 and 11 ended unchanged.

The AEX Volatility, which measures the implied volatility of AEX options, was up 11.55% to 12.89.

Crude oil for August delivery was down 2.25% or 1.67 to $72.44 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September fell 3.20% or 2.52 to hit $76.34 a barrel, while the August Gold Futures contract fell 0.72% or 9.00 to trade at $1246.40 a troy ounce.

EUR/USD was down 0.31% to 1.1708, while EUR/GBP rose 0.06% to 0.8851.

The US Dollar Index Futures was up 0.36% at 94.19.

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France stocks lower at close of trade; CAC 40 down 1.48%

– France stocks were lower after the close on Wednesday, as losses in the Oil&Gas, Basic Materials and Consumer Services sectors led shares lower.

At the close in Paris, the CAC 40 declined 1.48%, while the SBF 120 index declined 1.29%.

The best performers of the session on the CAC 40 were Accor SA (PA:ACCP), which rose 0.30% or 0.13 points to trade at 43.87 at the close. Meanwhile, Veolia Environnement VE SA (PA:VIE) added 0.08% or 0.015 points to end at 19.020 and Sodexo (PA:EXHO) was up 0.07% or 0.06 points to 90.18 in late trade.

The worst performers of the session were Carrefour SA (PA:CARR), which fell 4.87% or 0.69 points to trade at 13.59 at the close. Kering SA (PA:PRTP) declined 3.81% or 18.80 points to end at 475.00 and ArcelorMittal SA (AS:MT) was down 3.68% or 0.945 points to 24.725.

The top performers on the SBF 120 were Spie SA (PA:SPIE) which rose 5.12% to 17.660, Lagardere S.C.A. (PA:LAGA) which was up 2.48% to settle at 23.17 and Orpea (PA:ORP) which gained 2.02% to close at 121.00.

The worst performers were Eramet (PA:ERMT) which was down 7.01% to 107.40 in late trade, Carrefour SA (PA:CARR) which lost 4.87% to settle at 13.59 and Technicolor (PA:TCH) which was down 3.97% to 1.015 at the close.

Falling stocks outnumbered advancing ones on the Paris Stock Exchange by 415 to 154 and 94 ended unchanged.

Shares in Carrefour SA (PA:CARR) fell to 5-year lows; falling 4.87% or 0.69 to 13.59. Shares in Carrefour SA (PA:CARR) fell to 5-year lows; falling 4.87% or 0.69 to 13.59. Shares in Orpea (PA:ORP) rose to all time highs; up 2.02% or 2.40 to 121.00. Shares in Technicolor (PA:TCH) fell to 5-year lows; losing 3.97% or 0.042 to 1.015.

The CAC 40 VIX, which measures the implied volatility of CAC 40 options, was up 16.51% to 13.40.

Gold Futures for August delivery was down 0.72% or 9.00 to $1246.40 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August fell 2.25% or 1.67 to hit $72.44 a barrel, while the September Brent oil contract fell 3.17% or 2.50 to trade at $76.36 a barrel.

EUR/USD was down 0.30% to 1.1709, while EUR/GBP rose 0.05% to 0.8850.

The US Dollar Index Futures was up 0.36% at 94.19.

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Poland stocks lower at close of trade; WIG30 down 0.96%

– Poland stocks were lower after the close on Wednesday, as losses in the Construction, Basic Materials and Oil&Gas sectors led shares lower.

At the close in Warsaw, the WIG30 fell 0.96%.

The best performers of the session on the WIG30 were Asseco Poland SA (WA:ACPP), which rose 0.81% or 0.34 points to trade at 42.14 at the close. Meanwhile, ING Bank Śląski SA (WA:INGP) added 0.67% or 1.20 points to end at 180.00 and Grupa Lotos SA (WA:LTSP) was up 0.35% or 0.20 points to 57.20 in late trade.

The worst performers of the session were Tauron Polska Energia SA (WA:TPE), which fell 3.90% or 0.090 points to trade at 2.220 at the close. Jastrzebska Spotka Weglowa SA (WA:JSW) declined 2.95% or 2.30 points to end at 75.64 and KGHM Polska Miedz SA (WA:KGH) was down 2.86% or 2.63 points to 89.39.

Falling stocks outnumbered advancing ones on the Warsaw Stock Exchange by 248 to 174 and 179 ended unchanged.

Crude oil for August delivery was down 2.44% or 1.81 to $72.30 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September fell 3.31% or 2.61 to hit $76.25 a barrel, while the August Gold Futures contract fell 0.71% or 8.90 to trade at $1246.50 a troy ounce.

EUR/PLN was up 0.40% to 4.3345, while USD/PLN rose 0.61% to 3.6981.

The US Dollar Index Futures was up 0.26% at 94.09.

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U.K. stocks lower at close of trade; Investing.com United Kingdom 100 down 1.33%

– U.K. stocks were lower after the close on Wednesday, as losses in the Industrial Metals&Mining, Software&Computer Services and Mining sectors led shares lower.

At the close in London, the United Kingdom 100 fell 1.33%.

The best performers of the session on the United Kingdom 100 were Barratt Developments PLC (LON:BDEV), which rose 3.52% or 17.00 points to trade at 500.00 at the close. Meanwhile, Hikma Pharmaceuticals PLC (LON:HIK) added 2.04% or 30.00 points to end at 1500.00 and Kingfisher PLC (LON:KGF) was up 1.43% or 4.30 points to 305.80 in late trade.

The worst performers of the session were Micro Focus International PLC (LON:MCRO), which fell 9.17% or 119.50 points to trade at 1184.00 at the close. Tui AG (LON:TUIT) declined 5.19% or 88.00 points to end at 1607.50 and Glencore PLC (LON:GLEN) was down 4.83% or 15.80 points to 311.15.

Falling stocks outnumbered advancing ones on the London Stock Exchange by 1399 to 557 and 298 ended unchanged.

Gold Futures for August delivery was down 0.69% or 8.70 to $1246.70 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August fell 2.40% or 1.78 to hit $72.33 a barrel, while the September Brent oil contract fell 3.31% or 2.61 to trade at $76.25 a barrel.

GBP/USD was down 0.29% to 1.3238, while EUR/GBP rose 0.09% to 0.8854.

The US Dollar Index Futures was up 0.26% at 94.09.

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Sweden stocks lower at close of trade; OMX Stockholm 30 down 1.43%

– Sweden stocks were lower after the close on Wednesday, as losses in the Basic Materials, Industrials and Telecoms sectors led shares lower.

At the close in Stockholm, the OMX Stockholm 30 declined 1.43%.

The best performers of the session on the OMX Stockholm 30 were Securitas AB ser. B (ST:SECUb), which fell 0.17% or 0.25 points to trade at 143.35 at the close. Meanwhile, Swedish Match AB (ST:SWMA) fell 0.27% or 1.2 points to end at 449.9 and Autoliv Inc . SDB (ST:ALIVsdb) was down 0.35% or 3.2 points to 909.2 in late trade.

The worst performers of the session were Boliden AB (ST:BOL), which fell 5.07% or 14.70 points to trade at 275.10 at the close. SSAB AB ser. A (ST:SSABa) declined 4.53% or 1.96 points to end at 41.26 and AB SKF B (ST:SKFb) was down 2.84% or 4.8 points to 162.3.

Falling stocks outnumbered advancing ones on the Stockholm Stock Exchange by 402 to 220 and 46 ended unchanged.

Crude oil for August delivery was down 2.36% or 1.75 to $72.36 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September fell 3.22% or 2.54 to hit $76.32 a barrel, while the August Gold Futures contract fell 0.66% or 8.30 to trade at $1247.10 a troy ounce.

EUR/SEK was up 0.23% to 10.2888, while USD/SEK rose 0.41% to 8.7763.

The US Dollar Index Futures was up 0.26% at 94.09.

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Greece stocks lower at close of trade; Athens General Composite down 1.14%

– Greece stocks were lower after the close on Wednesday, as losses in the Oil&Gas, Financials and Chemicals sectors led shares lower.

At the close in Athens, the Athens General Composite declined 1.14%.

The best performers of the session on the Athens General Composite were Kekrops SA (AT:KEKr), which rose 3.25% or 0.0400 points to trade at 1.2700 at the close. Meanwhile, Crete Plastics SA (AT:PLAKR) added 1.53% or 0.200 points to end at 13.300 and Jumbo SA (AT:BABr) was up 1.40% or 0.190 points to 13.750 in late trade.

The worst performers of the session were Eurobank Ergasias SA (AT:EURBr), which fell 2.92% or 0.0250 points to trade at 0.8300 at the close. Viohalco SA (AT:VIOH) declined 2.88% or 0.090 points to end at 3.030 and Marfin Invest (AT:MRFr) was down 2.79% or 0.003 points to 0.104.

Falling stocks outnumbered advancing ones on the Athens Stock Exchange by 65 to 28 and 19 ended unchanged.

Gold Futures for August delivery was down 0.68% or 8.50 to $1246.90 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August fell 1.94% or 1.44 to hit $72.67 a barrel, while the September Brent oil contract fell 2.70% or 2.13 to trade at $76.73 a barrel.

EUR/USD was down 0.23% to 1.1717, while EUR/GBP rose 0.06% to 0.8851.

The US Dollar Index Futures was up 0.29% at 94.12.

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Study: Cryptocurrencies Could Become Mainstream Within A Decade

- Cryptocurrencies have already made significant progress in fulfilling the criteria for becoming a widely accepted method of payment, according to a new study.
That's the conclusion of a new study by the Imperial College of London.
Thus far, cryptocurrencies have demonstrated the capacity to serve as a store of value, one of three fundamental roles required of traditional currencies.
Cryptos have yet to achieve the other two roles: a median of exchange to facilitate transactions; and a unit of account used to measure value in an economic system.
The report says cryptocurrencies will have to overcome several obstacles to fulfill all three roles of a legitimate currency.
Scalability must be achieved. Price volatility needs to be eliminated. And uniform regulation must be in place.
Overall, the Imperial College study is upbeat about cryptocurrencies, saying they have the "potential to upend everything we know about the nature of financial systems and financial assets."

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Stocks- Wall Street Slumps amid Another Round of U.S.-China Tariffs

– Wall Street was lower on Wednesday amid fresh trade war concerns after the White House threatened fresh trade tariffs against China.

The S&P 500 lost 14 points or 0.51% to 2,779.58 as of 9:43 AM ET (13:43 GMT) while the Dow composite decreased 140 points or 0.56% to 24,779.06 and tech heavy NASDAQ Composite was down 43 points or 0.56% to 7,715.99.

On Tuesday U.S. President Donald Trump threatented to impose tariffs of 10% on an additional $200 billion of Chinese goods. China has said it will retaliate but doesn’t import enough from the U.S., so is looking at other ways to hit back.

Technology stocks slumped, with Tesla (NASDAQ:TSLA) falling 1.74% and Twitter Inc (NYSE:TWTR) decreasing 2.38%. Pfizer (NYSE:PFE) was down 0.37% after the drug maker announced it would reorganize its business into three units, while Boeing (NYSE:BA) dipped 0.99%.

Elsewhere Visa Inc (NYSE:V) rose 0.74% while Amazon.com (NASDAQ:AMZN) inched up 0.03%. Facebook (NASDAQ:FB) rose 0.04% despite being fined in the UK for breaching the data protection law after the Cambridge Analytica scandal. Industrial supply distributor Fastenal Company (NASDAQ:FAST) surged 3.89% after its earnings results came in higher than expected.

In Europe stocks were down. Germany’s DAX fell 183 points or 1.45% while in France the CAC 40 decreased 71 points or 1.32% and in London, the FTSE 100 was down 84 points or 1.10%. Meanwhile the pan-European Euro Stoxx 50 lost 45 points or 1.32% while Spain’s IBEX 35 slumped 126 points or 1.28%.

In commodities, gold futures fell 0.33% to $1,251.20 a troy ounce while crude oil futures decreased 1.13% to $73.27 a barrel. The U.S. dollar index, which measures the greenback against a basket of six major currencies, was up 0.04% to 93.89.

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Saudi Arabia stocks lower at close of trade; Tadawul All Share down 0.35%

– Saudi Arabia stocks were lower after the close on Wednesday, as losses in the Financial Services, Agriculture&Food and Petrochemicals sectors led shares lower.

At the close in Saudi Arabia, the Tadawul All Share fell 0.35%.

The best performers of the session on the Tadawul All Share were Saudi Enaya Cooperative Insurance (SE:8311), which rose 9.86% or 2.36 points to trade at 26.30 at the close. Meanwhile, Takween Advanced Industries (SE:1201) added 5.75% or 0.62 points to end at 11.40 and Saudi Indian Company Insurance (SE:8110) was up 4.94% or 0.70 points to 14.88 in late trade.

The worst performers of the session were Arab National Bank (SE:1080), which fell 2.36% or 0.80 points to trade at 33.05 at the close. Yanbu National Petrochemical Co (SE:2290) declined 2.34% or 1.80 points to end at 75.20 and Samba Financial Group (SE:1090) was down 2.13% or 0.70 points to 32.15.

Falling stocks outnumbered advancing ones on the Saudi Arabia Stock Exchange by 88 to 77 and 19 ended unchanged.

Crude oil for August delivery was down 1.12% or 0.83 to $73.28 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September fell 2.16% or 1.70 to hit $77.16 a barrel, while the August Gold Futures contract fell 0.27% or 3.40 to trade at $1252.00 a troy ounce.

EUR/SAR was up 0.04% to 4.4057, while USD/SAR rose 0.02% to 3.7506.

The US Dollar Index Futures was up 0.04% at 93.89.

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Stocks - Comcast, Google, Tesla, WD-40 Fall in Pre-Market

- Stocks in focus in pre-market trade Tuesday:

• Comcast (CMCSA) stock fell 0.81% by 8:26 AM ET (12:26 GMT) as 21st Century Fox (FOX) raised its offer for Britain's Sky to $32.5 billion. Fox offered £14 pounds per share, 12% higher than Comcast’s offer.

• Alphabet (GOOGL) stock traded down 0.94% as The Wall Street Journal reported that its Google unit could face another multibillion antitrust fine from the European Union.

• Tesla (TSLA) stock fell 1.39% as the company did away with the need for a reservation to order its Model 3 sedan with the long-range battery, but said its $35,000 base model will be “available in 6 to 9 months.”

• WD-40 (WDFC) stock fell 2.12% after the firm warned that it was “continuing to see the impact of higher commodity prices which have begun to deteriorate our gross margins in all three of our operating segments.”

• Fastenal (FAST) stock soared 6.6% after the firm reported second quarter diluted earnings per share of $0.74, topping consensus expectations for $0.66.

• Facebook (FB) stock was down 0.59% ahead of the open following reports that it would be fined by Britain's information regulator for breaches of data protection law after the Cambridge Analytica scandal.

• NVIDIA Corp (NVDA) fell 1% before the open after it announced late Tuesday a partnership with German car maker Daimler (D:DAIGn) and auto-parts maker Bosch to begin testing a self-driving taxi project.

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OPEC Output Surges in June as Saudi Arabia Leads Production

- Crude oil production by OPEC countries rose in June, the Organization of the Petroleum Exporting Countries and Russia stated in its monthly report.

Total production of OPEC countries rose by 173,000 barrels per day (bpd) in June to 32.3million bpd. The boost was lead by supply increases from Saudi Arabia, which pumped nearly 10.4 million bpd last month, up from 10 million bpd in May, according to independent sources. Meanwhile production declines in Venezuela and Libya continued.

OPEC agreed in June to raise output at a nominal increase of 1 million barrels a day (bpd) amid pressure from the U.S. to decrease prices. While OPEC members are expected to add around 700,000 barrels a day, non-OPEC oil suppliers led by Russia would add the rest. 

Global oil demand growth will slow to 1.45 million bpd in 2019 from 1.65 million bpd in 2018, the organization said. The forecast for 2018 was unchanged.

Non-OPEC oil supply in 2019 is forecast to grow by 2.1 million bpd, unchanged from 2018, as supply in North America increase and new projects in Brazil take off. Meanwhile U.S. shale oil growth is expected to slow down in the second half of 2018 and continue into 2019 amid capacity constraints.

However the forecasts are made with the assumption that trade tariffs are not increased and current trade disputes are resolved, the organization said. Global markets have been on edge in recent months amid trade battles between the U.S. has taken against China, Europe and other countries.

"Hence, if trade tensions rise further, and given other uncertainties, it could weigh on business and consumer sentiment," OPEC said. "This may then start to negatively impact investment, capital flows and consumer spending, with a subsequent negative effect on the global oil market."

After the report, U.S. West Texas Intermediate (WTI) crude futures fell 0.93% to $73.42 a barrel by 8:12 AM ET (12:12 GMT).

Brent crude futures, the benchmark for oil prices outside the U.S., decreased 1.65 cents, or 2.10%, to $77.20 a barrel.

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Stocks - U.S. Futures Sharply Lower on Threat of Fresh China Tariffs

- U.S. stock futures pointed to a sharply lower open on Wednesday as a trade spat between Washington and Beijing escalated, prompting traders to ditch assets perceived as more risky.

The S&P 500 futures were down 0.66% to 2,778.25 as of 6:51 AM ET (10:51 GMT) while Dow futures were down 0.78% to 24,732. The tech-heavy Nasdaq 100 futures shed 0.83% to 7,240.75.

The trade threat came back into focus after the Trump administration announced plans late Tuesday to impose tariffs of 10% on an additional $200 billion worth of Chinese imports.

News of the additional tariffs pushed fears of a trade war back into the spotlight just days after the two countries slapped tariffs of $34 billion on each other.

The tit-for-tat tariffs have fueled worries over the prospect of an all-out trade war, which investors fear could hit global growth.

Shares of Twenty-First Century Fox (NASDAQ:FOX) were likely to be in focus after it raised its takeover offer for Britain’s Sky (LON:SKYB) to $32.5 billion, heating up a bidding war with Comcast (NASDAQ:CMCSA).

Pfizer (NYSE:PFE) shares were also likely to be active after the drugmaker announced plans on Wednesday to reorganize its business into three units, with one to include a new hospital business segment.

Shares in Facebook (NASDAQ:FB) were down 0.82% ahead of the open following reports that it would be fined by Britain's information regulator for breaches of data protection law after the Cambridge Analytica scandal.

NVIDIA Corp (NASDAQ:NVDA) shares fell 1.68% before the open after it announced late Tuesday a partnership with German car maker Daimler (D:DAIGn) and auto-parts maker Bosch to begin testing a self-driving taxi project.

In earnings news, MSC Industrial (NYSE:MSM), Fastenal (NASDAQ:FAST) and Bank of the Ozarks (NASDAQ:OZRK) were among some of the companies due to announce their results Wednesday.

In currency markets, the U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was up 0.28% at 94.11.

In the commodities markets, oil prices were pressured lower amid concerns that U.S.-China trade tensions could hit energy demand.

On the economic calendar, producer price index data is due at 08:30 AM ET (12:30 GMT), followed by wholesale trade figures at 10:00 AM ET (14:00 GMT).

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Indonesia stocks higher at close of trade; IDX Composite Index up 0.20%

– Indonesia stocks were higher after the close on Wednesday, as gains in the Miscellaneous Industry, Mining and Manufacturing sectors led shares higher.

At the close in Jakarta, the IDX Composite Index gained 0.20%.

The best performers of the session on the IDX Composite Index were Ristia Bintang Mahkotasejati (JK:RBMS), which rose 34.62% or 36 points to trade at 140 at the close. Meanwhile, Steady Safe TBK PT (JK:SAFE) added 25.00% or 33 points to end at 165 and Argha Karya Prima Ind Tbk (JK:AKPI) was up 23.46% or 190 points to 1000 in late trade.

The worst performers of the session were PT Cahayasakti Investindo Sukses Tbk (JK:CSIS), which fell 24.68% or 137 points to trade at 418 at the close. Batavia Prosperindo Finance (JK:BPFI) declined 24.09% or 165.00 points to end at 520.00 and Skybee Tbk PT (JK:SKYB) was down 23.87% or 74 points to 236.

Falling stocks outnumbered advancing ones on the Jakarta Stock Exchange by 200 to 184 and 119 ended unchanged.

Shares in PT Cahayasakti Investindo Sukses Tbk (JK:CSIS) fell to all time lows; losing 24.68% or 137 to 418. Shares in Argha Karya Prima Ind Tbk (JK:AKPI) rose to 52-week highs; up 23.46% or 190 to 1000. Shares in Skybee Tbk PT (JK:SKYB) fell to all time lows; losing 23.87% or 74 to 236.

Crude oil for August delivery was down 0.74% or 0.55 to $73.56 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September fell 2.07% or 1.63 to hit $77.23 a barrel, while the August Gold Futures contract fell 0.41% or 5.10 to trade at $1250.30 a troy ounce.

USD/IDR was up 0.17% to 14385.0, while AUD/IDR fell 1.03% to 10602.90.

The US Dollar Index Futures was up 0.32% at 94.15.

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Top 5 Things To Know In The Market On Wednesday

- Here are the top five things you need to know in financial markets on Wednesday, July 11:

1. Trump Escalates U.S.-China Trade War With $200B Tariff Threat

The Trump administration raised the stakes in its trade dispute with China, threatening 10% tariffs on an extra $200 billion worth of Chinese imports late Tuesday, pushing the world's two biggest economies ever closer to a full-scale trade war.

The tariffs will not go into effect immediately but will undergo a two-month review process, with hearings August 20-23.

Washington proposed the extra tariffs after efforts to negotiate a solution to the dispute failed to reach an agreement, senior administration officials said.

China accused the U.S. of bullying and warned it would hit back, but did not immediately say how it would retaliate.

It was the latest development in escalating trade tensions between the world's two largest economies. Last week, Washington imposed 25% tariffs on $34 billion of Chinese imports, and Beijing responded immediately with matching tariffs on the same amount of U.S. exports to China.

Investors are worried that threats of higher U.S. tariffs and retaliatory measures by others could hit global growth and damage sentiment.

2. Trump Arrives At NATO Summit; Launches Tirade At Germany

Meanwhile, Trump kicked off his visit to Europe at a summit of leaders of NATO countries in Brussels, where he is expected to hammer home his calls on other countries to spend more on defense.

While not on the summit's official agenda, European leaders will voice their trade concerns to Trump, diplomats said.

Trump has vowed to stick to his promises of protection for U.S. industries against what he says is unfair competition from the European Union.

Speaking at a press conference in front of NATO representatives ahead of the two-day summit, Trump launched a scathing attack on Germany, saying a flurry of oil and gas deals had given Russia far too much influence over the continent’s largest economy.

In particular, he singled out the Nord Stream 2 gas pipeline project as being especially "inappropriate."

“Germany is totally controlled by Russia … They will be getting between 60% and 70% of their energy from Russia and a new pipeline, and you tell me if that is appropriate because I think it's not,” Trump said, before criticizing Berlin's failure to significantly increase defense spending.

3. Fresh Shots In Trade War Drag World Stocks Lower

Global stocks traded sharply lower, as investors sold off risk-sensitive assets following the latest escalation in trade war rhetoric from the White House.

Stocks in Asia were hit hard on the news, with Chinese markets faring the worst. The Shanghai Composite index lost 1.8%, and the blue-chip CSI300 index dropped around 1.7%.

Elsewhere, European shares were down more than 1% in mid-morning trade, with all sectors in the red. Basic resources and autos, seen among the sectors most at risk of a trade war, led losses. Among national indexes, Germany's export-heavy DAX slumped 1.2%, while Britain's FTSE declined 1.3%.

On Wall Street, U.S. stock futures pointed to a sharp drop at the open. The blue-chip Dow futures were down 220 points, or around 0.9% at 5:30AM ET, the S&P 500 futures dropped 22 points, or roughly 0.8%, while the tech-heavy Nasdaq 100 futures indicated a decline of 69 points, or about 1%.

4. Dollar Edges Higher Against Main Rivals

Away from equities, the dollar edged higher against a currency basket, as U.S. threats of tariffs on an additional $200 billion worth of Chinese goods prompted knee-jerk selling of riskier assets against less vulnerable currencies.

The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was up 0.3% to 94.18.

Meanwhile, in the bond market, U.S. Treasury prices edged higher, pushing yields lower across the curve, with the benchmark 10-year yield inching down to 2.84%.

The economic calendar will be light with producer prices for the month of June due at 8:30AM ET the only economic report of note.

5. Oil Prices Sink; Fresh Weekly U.S. Inventory Data Ahead

Oil prices were under pressure, with Brent dropping by more than $1, as investors digested the latest developments in the deepening trade conflict between the U.S. and China and after the U.S. said it would consider requests for waivers from sanctions due to snap back into place on Iranian crude exports.

Brent crude futures were down $1.70, or almost 2.2%, at $77.16 a barrel. U.S. crude was down 56 cents, or 0.8%, at $73.55.

The U.S. Energy Information Administration (EIA) will release its official weekly oil supplies report for the week ended July 6 at 10:30AM ET, amid forecasts for an oil-stock drop of 4.4 million barrels.

The data will also offer fresh indications on how fast domestic output levels continue to rise. U.S. crude production - driven by shale extraction - is currently at an all-time high of 10.9 million barrels per day (bpd).

After markets closed Tuesday, the American Petroleum Institute said that U.S. oil inventories fell by 6.8 million barrels last week.

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Japan stocks lower at close of trade; Nikkei 225 down 1.19%

– Japan stocks were lower after the close on Wednesday, as losses in the Power, Railway&Bus and Food sectors led shares lower.

At the close in Tokyo, the Nikkei 225 declined 1.19%.

The best performers of the session on the Nikkei 225 were Showa Shell Sekiyu K.K. (T:5002), which rose 7.91% or 133.0 points to trade at 1815.0 at the close. Meanwhile, Sumitomo Dainippon Pharma Co Ltd (T:4506) added 3.37% or 77.0 points to end at 2360.0 and Sumitomo Osaka Cement Co., Ltd. (T:5232) was up 2.07% or 11.0 points to 542.0 in late trade.

The worst performers of the session were Yahoo Japan Corp. (T:4689), which fell 6.97% or 28.0 points to trade at 373.5 at the close. JTEKT Corp. (T:6473) declined 6.14% or 96.0 points to end at 1468.0 and Eisai Co., Ltd. (T:4523) was down 5.57% or 588.0 points to 9962.0.

Falling stocks outnumbered advancing ones on the Tokyo Stock Exchange by 2509 to 878 and 163 ended unchanged.

Shares in Showa Shell Sekiyu K.K. (T:5002) rose to all time highs; gaining 7.91% or 133.0 to 1815.0.

The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was down 3.19% to 16.11.

Crude oil for August delivery was down 0.85% or 0.63 to $73.48 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September fell 2.04% or 1.61 to hit $77.25 a barrel, while the August Gold Futures contract fell 0.22% or 2.70 to trade at $1252.70 a troy ounce.

USD/JPY was up 0.05% to 111.06, while EUR/JPY fell 0.08% to 130.24.

The US Dollar Index Futures was up 0.14% at 93.98.

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Dollar Edges Higher, But Fresh Trade Concerns Weigh

- The dollar edged higher against a currency basket on Wednesday, but gains were capped after the U.S. said it would place tariffs on an additional $200 billion worth of Chinese imports, escalating a trade spat between Washington and Beijing.

The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, inched up 0.11% to 93.94 by 03:54 AM ET (07:54 AM GMT).

U.S. trade representative Robert Lighthizer said the U.S. was acting because China had not heeded previous warnings to halt unfair trade practices.

News of the additional tariffs pushed fears of a trade war back into focus just days after the U.S. imposed 25% tariffs on $34 billion of Chinese imports, and Beijing retaliated with matching tariffs on the same amount of U.S. imports.

The tit-for-tat tariffs have fueled worries that the world’s two largest economies could descend into an all-out trade war, which investors fear could hit global growth.

Uncertainty over the future of the North American Free Trade Agreement and concerns over tariffs that the Trump administration has imposed on European trading partners have also added to investor nerves.

The dollar was little changed against the yen, with USD/JPY last at 111.06, holding below the seven-week high of 111.35 hit on Tuesday.

The Japanese currency is often sought by investors as a safe haven in times of geopolitical tensions and market turmoil.

The euro was a touch lower, with EUR/USD dipping 0.1% to 1.1733. The pound was also slightly lower, with GBP/USD last at 1.3270.

The trade sensitive Australian dollar slumped, with AUD/USD losing 0.55% to trade at 0.7419.

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China stocks lower at close of trade; Shanghai Composite down 1.78%

– China stocks were lower after the close on Wednesday, as losses in the Software&Computer Services, Media and Telecoms sectors led shares lower.

At the close in Shanghai, the Shanghai Composite lost 1.78%, while the SZSE Component index lost 1.97%.

The best performers of the session on the Shanghai Composite were Zhengping Road&Bridge Construction Co Ltd (SS:603843), which rose 10.03% or 0.760 points to trade at 8.340 at the close. Meanwhile, Zhejiang XCC Group Co Ltd (SS:603667) added 10.01% or 0.980 points to end at 10.770 and Shen Ma Industry Co Ltd (SS:600810) was up 10.01% or 1.570 points to 17.250 in late trade.

The worst performers of the session were Huayi Electric Co Ltd (SS:600290), which fell 9.98% or 0.660 points to trade at 5.950 at the close. Ningxia Xinri Hengli Steel Wire Rope Co Ltd (SS:600165) declined 9.97% or 1.080 points to end at 9.750 and Fujian Furi Electronics Co Ltd (SS:600203) was down 9.95% or 0.94 points to 8.51.

The top performers on the SZSE Component were All Winner Technology Co Ltd (SZ:300458) which rose 10.00% to 21.34, Nanjing Hanrui Cobalt Co Ltd (SZ:300618) which was up 10.00% to settle at 144.66 and FSPG Hi-Tech Co Ltd (SZ:000973) which gained 5.24% to close at 4.22.

The worst performers were Anhui Shengyun Environment-Protection Group Co Ltd (SZ:300090) which was down 10.05% to 3.58 in late trade, Xingyuan Environment Technology Co Ltd (SZ:300266) which lost 10.04% to settle at 8.60 and Nationz Technologies Inc (SZ:300077) which was down 10.03% to 9.78 at the close.

Falling stocks outnumbered advancing ones on the Shanghai Stock Exchange by 1265 to 141 and 7 ended unchanged.

Shares in Huayi Electric Co Ltd (SS:600290) fell to 3-years lows; falling 9.98% or 0.660 to 5.950. Shares in Ningxia Xinri Hengli Steel Wire Rope Co Ltd (SS:600165) fell to 52-week lows; falling 9.97% or 1.080 to 9.750. Shares in Shen Ma Industry Co Ltd (SS:600810) rose to 5-year highs; gaining 10.01% or 1.570 to 17.250. Shares in Anhui Shengyun Environment-Protection Group Co Ltd (SZ:300090) fell to 5-year lows; down 10.05% or 0.40 to 3.58. Shares in Xingyuan Environment Technology Co Ltd (SZ:300266) fell to 3-years lows; falling 10.04% or 0.96 to 8.60.

The CBOE China Etf Volatility, which measures the implied volatility of Shanghai Composite options, was unchanged 0.00% to 22.63.

Gold Futures for August delivery was down 0.18% or 2.30 to $1253.10 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August fell 0.57% or 0.42 to hit $73.69 a barrel, while the September Brent oil contract fell 1.48% or 1.17 to trade at $77.69 a barrel.

USD/CNY was up 0.41% to 6.6590, while EUR/CNY rose 0.32% to 7.8140.

The US Dollar Index Futures was up 0.09% at 93.93.

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Gold Prices Fall on Firmer Dollar

– Gold prices fell on Wednesday as the dollar firmed after the Trump administration threatened to impose additional tariffs on $200 billion worth of Chinese goods.

Gold futures for August delivery on the Comex division of the New York Mercantile Exchange gained 0.27% to $1,252.00 a troy ounce by 1:45AM ET (05:45 GMT).  

The 10% tariffs will not take effect immediately but will undergo a two-month review process, according to a government statement on Tuesday. The proposed list of goods includes consumer items such as clothing, television components and refrigerators as well as other technology products.

In response, China's commerce ministry said in a statement released around midday on Wednesday that it was "shocked" by the latest U.S. trade action and urged international community to work together against the trade bullying, while calling the actions "completely unacceptable".

"I think the bad news (for gold) in regards to geo-political risk is that the trade issue is already priced in," said Cameron Alexander, an analyst with metals consultancy GFMS.

A firmer dollar was cited as headwind for gold, as it makes bullion more expensive for holders of other currencies as the commodity is priced in dollars.

The U.S. Dollar Index, which tracks the greenback against a basket of currencies, was up 0.12% at 93.97 on Wednesday.

"When trade war risk escalates investors run for cover... I always have gold on as a hedge but its been more challenging to have this view when the U.S. dollar is attracting haven flows," said Stephen Innes, APAC trading head at OANDA.

"For gold, support looks to be holding well around $1,250 but my fear is the USD could break higher and this is the biggest risk I see for gold."

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Oil Prices Fall as Trump Threatens to Levy New Tariffs on China

– Oil prices fell on Wednesday after Washington threatened to levy new trade tariffs on China, just a few days after both countries imposed tit-for-tat tariffs on $34 billion of each other's goods.

The U.S. said it would impose tariffs on an extra $200 billion worth of Chinese imports on Tuesday. President Donald Trump had warned earlier that his country may ultimately impose tariffs on more than $500 billion worth of Chinese imports.

Crude Oil WTI Futures for August delivery were trading at $73.67 a barrel at 12:40AM ET (04:40 GMT), down 0.6%. Brent Oil Futures for September delivery, traded in London, were also down 0.81% at $78.22 per barrel.  

“The trade concerns have bitten today and the reason is that this is above and beyond what the market was expecting,” said Michael McCarthy, chief markets strategist at CMC Markets in Sydney.

The bearish mood was also fuelled by news that U.S. Secretary of State Mike Pompeo said the White House would consider extending sanctions relief to some oil buyers of Iranian crude beyond the previously announced November deadline.

Pompeo remarks were in sharp contrast to comments from the U.S. State Department just two weeks ago, warning countries to halt all imports of Iranian oil from Nov. 4 or face U.S. financial measures, with no exemptions.

Investor fears that the loss of Iranian crude could be less than initially anticipated, reducing the prospect of a meaningful global supply shortage, overshadowed reports about a fresh supply outage.

Oil prices were also weighed down by expectations for a continued uptick in U.S. production.

The U.S. Energy Information Administration raised its 2019 estimate on U.S. crude-oil production, according to the agency's July short-term Energy Outlook report released Tuesday.

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Yen Gains; Aussie, Yuan Hit as U.S. Announces Tariffs on $200B in Chinese Goods

Invesing.com – The yen climbed while the Aussie and the yuan retreated after the U.S. said it would impose tariffs on an extra $200 billion worth of Chinese imports on Tuesday.

The yen, often sought in times of political tensions and market turmoil, gained against a number of peers following the latest tariff news. The USD/JPY pair dropped to 110.85 by 12:30AM ET (04:30 GMT) after hitting a seven-week high of 111.355 yen earlier on Tuesday.

Meanwhile, the yuan retreated by the most in more than a week as the USD/CNY pair rose 0.6% to 6.6695, though it still kept some distance from 11-month low of 6.7344 touched last week.

"A key concern of China’s government is stability," said Investec Bank’s economist Ryan Djajasaputra. "If the trade situation deteriorated and the yuan witnessed further downward pressure, we would expect the authorities to step in, particularly if there were signs of capital flight.

The Trump administration said on Tuesday that it would impose tariffs on an extra 200 billion worth of Chinese imports, raising concerns of a full-blown trade war between the world's two biggest economies. The proposed list of goods includes consumer items such as clothing, television components and refrigerators as well as other technology products.

Administration officials said a two-month process would allow the public to comment on the proposed tariffs before the list is finalised, though U.S. President Donald Trump had warned earlier that his country may ultimately impose tariffs on more than $500 billion worth of Chinese imports

Elsewhere, the AUD/USD pair, considered a liquid proxy for China-related trades, fell 0.7% 0.7407.

The U.S. Dollar Index, which tracks the greenback against a basket of currencies, also fell 0.14% to 93.98 on Tuesday after the news.

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Bitcoin Tumbles; Philippines Central Bank Approves Two Cryptocurrency Exchanges

– Bitcoin tumbled on Tuesday as its attempt to rise above $7,000 was met with a wave of selling pressure and prompted traders to pull their funds from the crypto market, while reports that two new digital currency exchanges have been accredited by the Bangko Sentral ng Pilipinas (BSP) received some focus.

Bitcoin was trading at $6,587.7 by 11:39AM ET (03:39 GMT) on the Bitfinex exchange, down 4.9% drop in the last 24 hours.

Ethereum, the world’s second largest cryptocurrency by market cap, fell by 6.2% to $433.26 on the Bitifinex exchange.

Ripple’s XRP token was also down 4.2% to $0.44695 on the Poloniex exchange.

Meanwhile, Litecoin declined 2.8% and traded at $76.6.

BSP Deputy Governor Chuchi G. Fonacier said over the weekend that the regulator has approved applications filed by Virtual Currency Philippines, Inc. and ETranss as cryptocurrency platforms, and that the country’s profile of approved cryptocurrency exchanges has now increased to five.

Elsewhere, the latest Boston College study raised some eyebrows as it suggested that more than half of cryptocurrency start-ups fail within four months of their initial coin offerings (ICO). 

"While our results could be an indication of bubbles, they are also consistent with high compensation for risk for investing in unproven pre-revenue platforms through unregulated offerings," Boston College researchers Hugo Benedetti and Leonard Kostovetsky said.

"This is not a surprise as many of them do not have real business plans or companies behind the ICO," said Jamie Hopkins, Professor of Taxation at The American College of Financial Services in Bryn Mawr, Pennsylvania. "Over the last year and a half, there has been an irrational surge in initial coin offerings. Many of these ICOs were not bringing anything new or valuable to the table, but just trying to ride the wave of publicity that popular cryptocurrencies like Bitcoin, Ethereum, and Litecoin have garnered."

The report further noted that traders make the greatest returns on virtual coin investments if they liquidate their positions within the first six months after the ICO. 

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Asian Markets Tumble as U.S. Seeks Tariffs on $200 Billion In Chinese Goods

– Asian equities tumbled in morning trade on Tuesday, led by losses in China as trade developments returned to focus after the Trump administration announced a list of tariffs on $200 billion in Chinese goods.

The 10% tariffs will not kick in immediately but will undergo a two-month review process, with hearings Aug. 20-23., according to a statement from the U.S. Trade Representative’s office Tuesday. The proposed list of goods includes consumer items such as clothing, television components and refrigerators as well as other technology products.

“For over a year, the Trump administration has patiently urged China to stop its unfair practices, open its market, and engage in true market competition,” U.S. Trade Representative Robert Lighthizer said in announcing the proposed tariffs.

“China has not changed its behavior -- behavior that puts the future of the U.S. economy at risk. Rather than address our legitimate concerns, China has begun to retaliate against U.S. products. There is no justification for such action.”

The Shanghai Composite and the Shenzhen Component opened 1.7% and 2.5% lower on Tuesday following the news. Hong Kong’s Hang Seng Index also fell 2.0%.

The latest news on the trade front came after Washington slapped 25% tariffs on $34 billion of Chinese imports last week, a move against which China immediately retaliated with matching tariffs on the same amount of U.S. exports to China.

"American families are the ones being punished. Consumers, businesses and the American jobs dependent on trade, are left in the crosshairs of an escalating global trade war,” said Hun Quach, the head of international trade policy for the group.

“This latest story will serve as a reality check for the market, reminding investors to reconsider how aggressive they want to be,” said Michael O’Rourke, chief market strategist at JonesTrading. “Regardless, the $200 billion in potential additional tariffs is not a surprise. The President made everyone well aware of them.”

Elsewhere, Japan’s Nikkei 225 was down 1.7% in morning trade. The country’s core machinery orders fell 3.7% in May, Cabinet Office data showed on Wednesday, compared with economists' median estimate of a 5.5% drop. It followed a 10.1% rise in April.

Down under, Australia’s S&P/ASX 200 lost 0.7% at 6,216.5.

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Bitcoin Selloff Resumes After Failure to Crack $7,000

– Bitcoin fell Tuesday as fragile support for the popular crypto faltered after traders pulled billions from the market.

Bitcoin fell 4.64% to $6,388.4 on the Bitfinex exchange, to hover just above a session low of $6,324.8.

Bitcoin's attempt to rise above $7,000 was met with a wave of selling pressure, prompting traders to pull their funds from the crypto market, reducing support for cryptos.

The total crypto market cap fell to $254 billion, at the time of writing, from about $272 billion Monday.

While there was no single reason for the selloff in bitcoin, some crypto observers had cited $7,000 as a zone of resistance – price levels that trigger selling.

Others, however, claimed renewed security concerns were the driver of the selloff in cryptos.

Israeli start-up Bancor reported Monday it had loss $12.5 million worth of ethereum and $1 million of a lesser-known token called Pundi X after cyber thieves had exploited a security vulnerability.

Ripple XRP fell 5.37% to $0.44850 on the Poloniex exchange, while Ethereum fell 7.45% to $440.62.

Bitcoin Cash fell 5.85% to $698.80, while Litecoin fell 4.24% to $77.69.

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Mexico stocks lower at close of trade; S&P/BMV IPC down 0.50%

– Mexico stocks were lower after the close on Tuesday, as losses in the Financial Services, Materials and Telecoms Services sectors led shares lower.

At the close in Mexico, the S&P/BMV IPC declined 0.50%.

The best performers of the session on the S&P/BMV IPC were Grupo Elektra , S.A.B. De C.V. (MX:ELEKTRA), which rose 5.39% or 29.35 points to trade at 574.00 at the close. Meanwhile, Wal - Mart De Mexico, SAB De CV (MX:WALMEX) added 2.46% or 1.320 points to end at 55.000 and Grupo Televisa SAB Unit (MX:TLVACPO) was up 2.29% or 1.72 points to 76.95 in late trade.

The worst performers of the session were Grupo Financiero Banorte (MX:GFNORTEO), which fell 2.81% or 3.440 points to trade at 118.990 at the close. Alsea , S.A.B. De C.V. (MX:ALSEA) declined 2.46% or 1.720 points to end at 68.260 and Industrias Penoles Sab De CV (MX:PENOLES) was down 2.42% or 8.45 points to 340.15.

Falling stocks outnumbered advancing ones on the Mexico Stock Exchange by 172 to 118 and 7 ended unchanged.

Shares in Wal - Mart De Mexico, SAB De CV (MX:WALMEX) rose to all time highs; gaining 2.46% or 1.320 to 55.000.

Gold Futures for August delivery was down 0.25% or 3.20 to $1256.40 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August rose 0.61% or 0.45 to hit $74.30 a barrel, while the September Brent oil contract rose 1.27% or 0.99 to trade at $79.06 a barrel.

USD/MXN was down 1.69% to 18.8869, while EUR/MXN fell 1.62% to 22.1864.

The US Dollar Index Futures was up 0.05% at 93.85.

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Canada stocks higher at close of trade; S&P/TSX Composite up 0.49%

– Canada stocks were higher after the close on Tuesday, as gains in the Energy, Consumer Staples and Consumer Discretionary sectors led shares higher.

At the close in Toronto, the S&P/TSX Composite added 0.49% to hit a new all time high.

The best performers of the session on the S&P/TSX Composite were Paramount Resources Ltd . (TO:POU), which rose 7.15% or 1.01 points to trade at 15.14 at the close. Meanwhile, Alimentation Couche-Tard Inc (TO:ATDb) added 6.67% or 3.80 points to end at 60.80 and Birchcliff Energy Ltd . (TO:BIR) was up 5.11% or 0.24 points to 4.94 in late trade.

The worst performers of the session were Torex Gold Resources Inc (TO:TXG), which fell 4.18% or 0.500 points to trade at 11.470 at the close. Badger Daylighting Ltd . (TO:BAD) declined 3.46% or 1.06 points to end at 29.59 and First Capital Realty Inc . (TO:FCR) was down 3.39% or 0.71 points to 20.21.

Rising stocks outnumbered declining ones on the Toronto Stock Exchange by 641 to 447 and 139 ended unchanged.

The S&P/TSX 60 VIX, which measures the implied volatility of S&P/TSX Composite options, was down 1.88% to 13.06.

Gold Futures for August delivery was down 0.29% or 3.60 to $1256.00 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August rose 0.23% or 0.17 to hit $74.02 a barrel, while the September Brent oil contract rose 0.99% or 0.77 to trade at $78.84 a barrel.

CAD/USD was down 0.03% to 0.7625, while CAD/EUR unchanged 0.00% to 0.6491.

The US Dollar Index Futures was up 0.06% at 93.86.

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Brazil stocks lower at close of trade; Bovespa down 0.25%

– Brazil stocks were lower after the close on Tuesday, as losses in the Basic Materials, Public Utilities and Electric Power sectors led shares lower.

At the close in Sao Paulo, the Bovespa lost 0.25%.

The best performers of the session on the Bovespa were Braskem SA (SA:BRKM5), which rose 6.58% or 3.25 points to trade at 52.63 at the close. Meanwhile, JBS SA (SA:JBSS3) added 5.35% or 0.50 points to end at 9.84 and Cielo SA (SA:CIEL3) was up 5.33% or 0.85 points to 16.81 in late trade.

The worst performers of the session were Suzano Papel e Celulose SA (SA:SUZB3), which fell 5.11% or 2.33 points to trade at 43.31 at the close. Companhia Brasileira deDistribuicao (SA:PCAR4) declined 3.65% or 2.88 points to end at 75.93 and Cvc Brasil ON (SA:CVCB3) was down 3.23% or 1.34 points to 40.15.

Rising stocks outnumbered declining ones on the BM&FBovespa Stock Exchange by 233 to 229 and 31 ended unchanged.

The CBOE Brazil Etf Volatility, which measures the implied volatility of Bovespa options, was down 5.26% to 31.34 a new 1-month low.

Gold Futures for August delivery was down 0.28% or 3.50 to $1256.10 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August rose 0.23% or 0.17 to hit $74.02 a barrel, while the September US coffee C contract fell 0.04% or 0.05 to trade at $114.53 .

USD/BRL was down 1.90% to 3.7996, while EUR/BRL fell 1.92% to 4.4632.

The US Dollar Index Futures was up 0.06% at 93.86.

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Colombia stocks higher at close of trade; COLCAP up 0.37%

– Colombia stocks were higher after the close on Tuesday, as gains in the Industrials, Services and Financials sectors led shares higher.

At the close in Colombia, the COLCAP rose 0.37%.

The best performers of the session on the COLCAP were Etb (CN:ETB), which rose 2.41% or 9.0 points to trade at 382.0 at the close. Meanwhile, Grupoaval (CN:GAA) added 2.09% or 25.0 points to end at 1220.0 and Cemex Latam Holdings SA (CN:CLH) was up 1.72% or 140.0 points to 8300.0 in late trade.

The worst performers of the session were Celsia SA (CN:CEL), which fell 1.30% or 60.0 points to trade at 4565.0 at the close. Avianca Holdings Pf (CN:AVT_p) declined 0.64% or 15.0 points to end at 2330.0 and Grupo Aval Acciones y Valores SA Pref (CN:GAA_p) was down 0.42% or 5.0 points to 1190.0.

Rising stocks outnumbered declining ones on the Colombia Stock Exchange by 17 to 10 and 8 ended unchanged.

Shares in Avianca Holdings Pf (CN:AVT_p) fell to 52-week lows; falling 0.64% or 15.0 to 2330.0.

US coffee C for September delivery was down 0.04% or 0.05 to $114.53 . Elsewhere in commodities trading, US cocoa for delivery in September rose 2.28% or 55.50 to hit $2494.50 , while the August Gold Futures contract fell 0.28% or 3.50 to trade at $1256.10 a troy ounce.

USD/COP was unchanged 0.00% to 2884.50, while BRL/COP rose 1.84% to 758.46.

The US Dollar Index Futures was up 0.09% at 93.88.

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Day Ahead: Top 3 Things to Watch

- Here’s a preview of the top 3 things that could rock U.S. markets tomorrow.

1. Inflation Data, Earnings in the Spotlight

Economic indicators are likely to set the market tone for the open Wednesday. Wholesale inflation figures should get the most attention.

The headline producer price index (PPI) and the core PPI, which excludes volatile food and energy prices, are expected to show a smaller increase in inflation for June compared with May’s figures.

Economists expect both to have risen by 0.2%.

The latest data on wholesale inventories also arrives before the bell.

Looking to earnings, wholesale industrial and construction supplier Fastenal (NASDAQ:FAST) reports earnings before the bell tomorrow. Shares took a hit when the stock was downgraded to neutral from buy by Baird last Tuesday, but have since rallied as earnings approached.

2. Inventories and OPEC Should Call Oil Direction

Among stocks, energy shares will likely be active as investors get the latest oil inventory figures from the Energy Information Administration.

A drawdown in crude oil and gasoline inventories is expected for the week ended July 6. Distillate stockpiles are expected to have risen for the week.

OPEC’s monthly report will also give investors and traders a look at how the cartel is dealing with demands for more supply to keep a lid on prices.

Crude Oil WTI Futures settled up 26 cents to $74.11 on Tuesday.

3. Tough Trade Talk to Continue With Trump in Europe?

The prospect of further trade battles will continue to have an impact on the markets, especially as U.S. President Donald Trump travels to Europe.

Trump’s first meeting will be with NATO in Brussels on Wednesday. Along with his calls for European nations to pay more for NATO defense, he may take the opportunity to decry what he sees as unfair trade practices by the European Union.

The president tweeted on Tuesday that the U.S. loses $151 billion on trade with the EU and that the single bloc charges the U.S. big tariffs and enacts trade barriers.

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Crude Oil Prices Settle Higher Despite Prospect of Iran Sanction Waivers

– Crude oil prices settled higher Tuesday despite falling sharply from session highs on concerns that the loss of Iranian crude from the global market may not be as severe as many had anticipated.

In the New York Mercantile Exchange crude futures for August delivery rose 26 cents to settle at $74.11 a barrel, while on London's Intercontinental Exchange, Brent climbed 84 cents to trade at $78.91 a barrel.

Oil prices retreated sharply as U.S. Secretary of State Mike Pompeo said the White House would consider extending sanctions relief to some oil buyers of Iranian crude beyond the previously announced November deadline.

Pompeo remarks were in sharp contrast to comments from the U.S. State Department just two weeks ago, warning countries to cut their imports of Iranian crude to zero by Nov. 4, or face sanctions.

Investor fears that the loss of Iranian crude could be less than initially anticipated, reducing the prospect of a meaningful global supply shortage, overshadowed reports about a fresh supply outage.

Shell's Knarr field in Norway was taken offline – which produces around 23,000 barrels of oil per day - after 669 oil rig workers in Norway went on strike Tuesday as wage talks failed.

The disruptions in Norway exacerbated unplanned outages in Libya and Canada, which had already trimmed global inventories.

Libya's national oil output has dropped to 527,000 barrels per day (bpd) from a high of 1.28 million bpd in February, the head of the National Oil Corporation said on Monday.

WTI crude oil prices were also weighed down by expectations for a continued uptick in U.S. production.

The U.S. Energy Information Administration raised its 2019 estimate on U.S. crude-oil production, according to the agency's July short-term Energy Outlook report released Tuesday.

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Morocco stocks higher at close of trade; Moroccan All Shares up 0.16%

– Morocco stocks were higher after the close on Tuesday, as gains in the Forestry&Paper, Invest Companies&Other Finance and Chemicals sectors led shares higher.

At the close in Casablanca, the Moroccan All Shares added 0.16%.

The best performers of the session on the Moroccan All Shares were Salafin (CS:SLF), which rose 4.55% or 47 points to trade at 1080 at the close. Meanwhile, Taslif (CS:TSF1) added 3.66% or 0.94 points to end at 26.60 and CIH (CS:CIH) was up 3.61% or 10.45 points to 299.95 in late trade.

The worst performers of the session were Delattre Levivier Maroc (CS:DLM), which fell 4.91% or 8.00 points to trade at 155.00 at the close. Sonasid (CS:SOND) declined 4.66% or 26 points to end at 530 and Jet Contractors (CS:JET) was down 2.99% or 11.00 points to 357.00.

Rising stocks outnumbered declining ones on the Casablanca Stock Exchange by 16 to 9 and 5 ended unchanged.

Crude oil for August delivery was up 0.04% or 0.03 to $73.88 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 0.83% or 0.65 to hit $78.72 a barrel, while the August Gold Futures contract fell 0.37% or 4.70 to trade at $1254.90 a troy ounce.

EUR/MAD was down 0.05% to 11.0800, while USD/MAD rose 0.09% to 9.4428.

The US Dollar Index Futures was up 0.15% at 93.94.

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Dollar Pushes Yen Lower as Trade-War Fears Ebb

– The dollar rose against its rivals Tuesday, supported by upbeat labor market data and a weaker yen, as easing trade-war fears continued to keep a lid on demand for safe-haven currencies.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, rose by 0.16% to 93.95.

The U.S. Labor Department's latest Job Openings and Labor Turnover Survey (JOLTs) report, a measure of labor demand, showed job openings in May came in at about 6.64 million, beating expectations for 6.58 million.

The uptick in job openings follows a bullish nonfarm payrolls report Friday, showing the U.S. economy had created more jobs than forecast in June, strengthening calls for further increases in U.S. interest rates.

The odds of a fourth rate hike at the Federal Reserve's December meeting has increased to 54%, up from about 44% last week, according to 's Fed Rate Monitor Tool.

The dollar also added to gains against safe-haven currencies like the yen and the Swiss Franc as the flight-to-safety trade has been halted somewhat by easing trade-war fears.

USD/JPY rose 0.42% to Y111.29, while USD/CHF rose 0.09% to 0.9923.

USD/CAD rose 0.08% to C$1.3125 but remained below its intraday high of C$1.3146 amid expectations the Bank of Canada will increase interest rates Wednesday.

GBP/USD fell 0.07% to $1.3250 as manufacturing activity unexpectedly fell, and concerns over UK government turmoil weighed. But losses in sterling were limited, by an in-line GDP print, raising expectations for a Bank of England (BoE) August rate hike.

"A (BoE) rate increase in August is now more likely," RBC Capital Markets said Tuesday, following data showing UK GDP grew 0.3% in May.

EUR/USD fell 0.16% to $1.1732, pressured by data showing ZEW German economic sentiment fell short of economists' forecasts.

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Portugal stocks higher at close of trade; PSI 20 up 0.34%

– Portugal stocks were higher after the close on Tuesday, as gains in the Industrials, Consumer Goods and Consumer Services sectors led shares higher.

At the close in Lisbon, the PSI 20 added 0.34%.

The best performers of the session on the PSI 20 were Altri SGPS (LS:ALSS), which rose 2.75% or 0.2400 points to trade at 8.9700 at the close. Meanwhile, Corticeira Amorim (LS:CORA) added 1.76% or 0.200 points to end at 11.580 and Nos SGPS SA (LS:NOS) was up 0.98% or 0.0480 points to 4.9580 in late trade.

The worst performers of the session were Semapa (LS:SEM), which fell 0.87% or 0.2000 points to trade at 22.8000 at the close. Pharol SGPS SA (LS:PHRA) declined 0.82% or 0.0020 points to end at 0.2430 and Banco Comercial Portugues (LS:BCP) was down 0.77% or 0.0020 points to 0.2574.

Rising stocks outnumbered declining ones on the Lisbon Stock Exchange by 16 to 15 and 5 ended unchanged.

Shares in Altri SGPS (LS:ALSS) rose to all time highs; gaining 2.75% or 0.2400 to 8.9700.

Brent oil for September delivery was up 0.76% or 0.59 to $78.66 a barrel. Elsewhere in commodities trading, Crude oil for delivery in August rose 0.04% or 0.03 to hit $73.88 a barrel, while the August Gold Futures contract fell 0.37% or 4.60 to trade at $1255.00 a troy ounce.

EUR/USD was down 0.14% to 1.1734, while EUR/GBP fell 0.10% to 0.8854.

The US Dollar Index Futures was up 0.18% at 93.97.

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Russia stocks lower at close of trade; MOEX Russia down 0.34%

– Russia stocks were lower after the close on Tuesday, as losses in the Telecoms, Mining and Oil&Gas sectors led shares lower.

At the close in Moscow, the MOEX Russia lost 0.34%.

The best performers of the session on the MOEX Russia were Safmar Finansovye Investitsii PAO (MCX:SFIN), which rose 3.72% or 26.0 points to trade at 724.0 at the close. Meanwhile, NLMK ao (MCX:NLMK) added 2.27% or 3.58 points to end at 161.00 and Inter rao ees (MCX:IRAO) was up 1.88% or 0.0810 points to 4.3800 in late trade.

The worst performers of the session were MegaFon OAO (MCX:MFON), which fell 2.71% or 14.20 points to trade at 509.10 at the close. AFK Sistema (MCX:AFKS) declined 2.18% or 0.205 points to end at 9.185 and Lukoil (MCX:LKOH) was down 2.18% or 97.0 points to 4355.0.

Rising stocks outnumbered declining ones on the Moscow Stock Exchange by 106 to 98 and 19 ended unchanged.

Shares in Inter rao ees (MCX:IRAO) rose to 5-year highs; rising 1.88% or 0.0810 to 4.3800.

The Russian VIX, which measures the implied volatility of MOEX Russia options, was up 0.96% to 22.070.

Gold Futures for August delivery was down 0.29% or 3.70 to $1255.90 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August rose 0.16% or 0.12 to hit $73.97 a barrel, while the September Brent oil contract rose 0.87% or 0.68 to trade at $78.75 a barrel.

USD/RUB was down 0.94% to 61.9062, while EUR/RUB fell 1.09% to 72.6518.

The US Dollar Index Futures was up 0.16% at 93.95.

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Finland stocks higher at close of trade; OMX Helsinki 25 up 1.06%

– Finland stocks were higher after the close on Tuesday, as gains in the Oil&Gas, Utilities and Technology sectors led shares higher.

At the close in Helsinki, the OMX Helsinki 25 gained 1.06%.

The best performers of the session on the OMX Helsinki 25 were Outotec Oyj (HE:OTE1V), which rose 2.76% or 0.180 points to trade at 6.696 at the close. Meanwhile, Nokia Oyj (HE:NOKIA) added 1.98% or 0.098 points to end at 5.054 and Neste Oil Oyj (HE:NESTE) was up 1.90% or 1.26 points to 67.48 in late trade.

The worst performers of the session were Outokumpu Oyj (HE:OUT1V), which fell 1.50% or 0.0820 points to trade at 5.3700 at the close. Telia Company AB (HE:TELIA1) declined 0.59% or 0.024 points to end at 4.069 and UPM-Kymmene Oyj (HE:UPM) was down 0.33% or 0.10 points to 30.66.

Rising stocks outnumbered declining ones on the Helsinki Stock Exchange by 90 to 51 and 19 ended unchanged.

Brent oil for September delivery was up 0.94% or 0.73 to $78.80 a barrel. Elsewhere in commodities trading, Crude oil for delivery in August rose 0.18% or 0.13 to hit $73.98 a barrel, while the August Gold Futures contract fell 0.27% or 3.40 to trade at $1256.20 a troy ounce.

EUR/USD was down 0.14% to 1.1735, while EUR/GBP fell 0.10% to 0.8854.

The US Dollar Index Futures was up 0.15% at 93.94.

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Netherlands stocks higher at close of trade; AEX up 0.52%

– Netherlands stocks were higher after the close on Tuesday, as gains in the Oil&Gas, Technology and Consumer Services sectors led shares higher.

At the close in Amsterdam, the AEX gained 0.52%.

The best performers of the session on the AEX were NN Group NV (AS:NN), which rose 2.18% or 0.77 points to trade at 36.03 at the close. Meanwhile, Koninklijke DSM NV (AS:DSMN) added 1.84% or 1.60 points to end at 88.58 and Galapagos NV (AS:GLPG) was up 1.73% or 1.420 points to 83.720 in late trade.

The worst performers of the session were Altice NV (AS:ATCA), which fell 2.53% or 0.08 points to trade at 3.24 at the close. Randstad Holding NV (AS:RAND) declined 1.22% or 0.62 points to end at 50.22 and Philips Lighting NV (AS:LIGHT) was down 0.98% or 0.22 points to 22.28.

Rising stocks outnumbered declining ones on the Amsterdam Stock Exchange by 77 to 47 and 11 ended unchanged.

The AEX Volatility, which measures the implied volatility of AEX options, was down 7.44% to 11.55.

Crude oil for August delivery was up 0.18% or 0.13 to $73.98 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 0.94% or 0.73 to hit $78.80 a barrel, while the August Gold Futures contract fell 0.27% or 3.40 to trade at $1256.20 a troy ounce.

EUR/USD was down 0.13% to 1.1736, while EUR/GBP fell 0.10% to 0.8854.

The US Dollar Index Futures was up 0.15% at 93.94.

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France stocks higher at close of trade; CAC 40 up 0.67%

– France stocks were higher after the close on Tuesday, as gains in the Technology, Oil&Gas and Industrials sectors led shares higher.

At the close in Paris, the CAC 40 rose 0.67%, while the SBF 120 index climbed 0.66%.

The best performers of the session on the CAC 40 were Airbus Group SE (PA:AIR), which rose 3.96% or 3.94 points to trade at 103.34 at the close. Meanwhile, TechnipFMC PLC (PA:FTI) added 3.00% or 0.79 points to end at 27.13 and Atos SE (PA:ATOS) was up 2.91% or 3.45 points to 121.95 in late trade.

The worst performers of the session were BNP Paribas SA (PA:BNPP), which fell 0.93% or 0.50 points to trade at 53.41 at the close. AXA SA (PA:AXAF) declined 0.87% or 0.18 points to end at 21.11 and Orange SA (PA:ORAN) was down 0.87% or 0.13 points to 14.77.

The top performers on the SBF 120 were Groupe FNAC (PA:FNAC) which rose 5.87% to 81.200, Elior Group (PA:ELIOR) which was up 4.03% to settle at 13.15 and Airbus Group SE (PA:AIR) which gained 3.96% to close at 103.34.

The worst performers were Technicolor (PA:TCH) which was down 3.03% to 1.057 in late trade, Air France KLM SA (PA:AIRF) which lost 1.74% to settle at 7.214 and Eramet (PA:ERMT) which was down 1.70% to 115.50 at the close.

Rising stocks outnumbered declining ones on the Paris Stock Exchange by 318 to 257 and 98 ended unchanged.

The CAC 40 VIX, which measures the implied volatility of CAC 40 options, was down 9.03% to 11.50.

Gold Futures for August delivery was down 0.28% or 3.50 to $1256.10 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August rose 0.16% or 0.12 to hit $73.97 a barrel, while the September Brent oil contract rose 0.90% or 0.70 to trade at $78.77 a barrel.

EUR/USD was down 0.13% to 1.1736, while EUR/GBP fell 0.08% to 0.8856.

The US Dollar Index Futures was up 0.15% at 93.94.

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Belgium stocks higher at close of trade; BEL 20 up 0.09%

– Belgium stocks were higher after the close on Tuesday, as gains in the Technology, Healthcare and Basic Materials sectors led shares higher.

At the close in Brussels, the BEL 20 added 0.09%.

The best performers of the session on the BEL 20 were Galapagos NV (AS:GLPG), which rose 1.73% or 1.420 points to trade at 83.720 at the close. Meanwhile, Argen-X (BR:ARGX) added 1.66% or 1.20 points to end at 73.60 and Umicore SA (BR:UMI) was up 1.56% or 0.77 points to 49.99 in late trade.

The worst performers of the session were Ontex Group (BR:ONTEX), which fell 1.98% or 0.52 points to trade at 25.78 at the close. Telenet Group (BR:TNET) declined 0.89% or 0.38 points to end at 42.34 and Aperam SA (AS:APAM) was down 0.81% or 0.31 points to 37.88.

Rising stocks outnumbered declining ones on the Brussels Stock Exchange by 70 to 45 and 23 ended unchanged.

Gold Futures for August delivery was down 0.30% or 3.80 to $1255.80 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August rose 0.05% or 0.04 to hit $73.89 a barrel, while the September Brent oil contract rose 0.83% or 0.65 to trade at $78.72 a barrel.

EUR/USD was down 0.20% to 1.1728, while EUR/GBP fell 0.19% to 0.8846.

The US Dollar Index Futures was up 0.19% at 93.98.

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U.K. stocks higher at close of trade; Investing.com United Kingdom 100 up 0.01%

– U.K. stocks were higher after the close on Tuesday, as gains in the Oil Equipment Services&Distribution, Software&Computer Services and Electronic&Electrical Equipment sectors led shares higher.

At the close in London, the United Kingdom 100 gained 0.01%.

The best performers of the session on the United Kingdom 100 were Provident Financial PLC (LON:PFG), which rose 4.08% or 24.60 points to trade at 627.40 at the close. Meanwhile, Coca Cola HBC AG (LON:CCH) added 2.88% or 75.0 points to end at 2678.0 and Hargreaves Lansdown PLC (LON:HRGV) was up 2.83% or 57.00 points to 2070.00 in late trade.

The worst performers of the session were United Utilities Group PLC (LON:UU), which fell 4.04% or 31.00 points to trade at 735.40 at the close. Severn Trent PLC (LON:SVT) declined 3.65% or 73.00 points to end at 1930.00 and Glencore PLC (LON:GLEN) was down 2.48% or 8.30 points to 326.95.

Rising stocks outnumbered declining ones on the London Stock Exchange by 1104 to 863 and 323 ended unchanged.

Gold Futures for August delivery was down 0.27% or 3.40 to $1256.20 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August fell 0.11% or 0.08 to hit $73.77 a barrel, while the September Brent oil contract rose 0.76% or 0.59 to trade at $78.66 a barrel.

GBP/USD was unchanged 0.00% to 1.3259, while EUR/GBP fell 0.18% to 0.8847.

The US Dollar Index Futures was up 0.17% at 93.96.

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Germany stocks higher at close of trade; DAX up 0.53%

– Germany stocks were higher after the close on Tuesday, as gains in the Industrials, Media and Consumer&Cyclical sectors led shares higher.

At the close in Frankfurt, the DAX rose 0.53%, while the MDAX index climbed 1.03%, and the TecDAX index climbed 1.07%.

The best performers of the session on the DAX were Covestro AG (DE:1COV), which rose 2.18% or 1.640 points to trade at 76.840 at the close. Meanwhile, Adidas AG (DE:ADSGN) added 1.73% or 3.15 points to end at 185.00 and Deutsche Post AG NA O.N. (DE:DPWGn) was up 1.69% or 0.470 points to 28.290 in late trade.

The worst performers of the session were Commerzbank AG O.N. (DE:CBKG), which fell 1.38% or 0.118 points to trade at 8.461 at the close. Deutsche Lufthansa AG (DE:LHAG) declined 1.12% or 0.230 points to end at 20.330 and Thyssenkrupp AG O.N. (DE:TKAG) was down 0.97% or 0.210 points to 21.550.

The top performers on the MDAX were Airbus Group SE (DE:AIRG) which rose 4.03% to 103.40, Wacker Chemie O.N. (DE:WCHG) which was up 3.80% to settle at 118.85 and Hugo Boss AG NA O.N. (DE:BOSSn) which gained 3.36% to close at 77.460.

The worst performers were Delivery Hero AG (DE:DHER) which was down 2.64% to 48.00 in late trade, Norma Group AG NA O.N. (DE:NOEJ) which lost 1.46% to settle at 57.400 and Metro AG (DE:MEOG) which was down 1.34% to 7.382 at the close.

The top performers on the TecDAX were Nordex SE O.N. (DE:NDXG) which rose 4.53% to 10.190, Draegerwerk VZO O.N. (DE:DRWG_p) which was up 3.96% to settle at 66.900 and Jenoptik AG (DE:JENG) which gained 3.95% to close at 32.140.

The worst performers were SMA Solar Technology AG (DE:S92G) which was down 3.92% to 33.820 in late trade, Medigene NA O.N. (DE:MDG1k) which lost 2.08% to settle at 12.710 and Aixtron SE (DE:AIXGn) which was down 1.67% to 10.920 at the close.

Rising stocks outnumbered declining ones on the Frankfurt Stock Exchange by 455 to 257 and 69 ended unchanged.

The DAX volatility index, which measures the implied volatility of DAX options, was down 6.67% to 14.27.

Gold Futures for August delivery was down 0.27% or 3.40 to $1256.20 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August fell 0.11% or 0.08 to hit $73.77 a barrel, while the September Brent oil contract rose 0.77% or 0.60 to trade at $78.67 a barrel.

EUR/USD was down 0.18% to 1.1730, while EUR/GBP fell 0.18% to 0.8847.

The US Dollar Index Futures was up 0.17% at 93.96.

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Turkey stocks lower at close of trade; BIST 100 down 3.00%

– Turkey stocks were lower after the close on Tuesday, as losses in the Banking, Telecoms and Information Technology sectors led shares lower.

At the close in Istanbul, the BIST 100 declined 3.00%.

The best performers of the session on the BIST 100 were TAV Havalimanlari Holding (IS:TAVHL), which rose 3.65% or 0.82 points to trade at 23.30 at the close. Meanwhile, Teknosa Ic ve Dis Ticaret AS (IS:TKNSA) added 3.62% or 0.160 points to end at 4.580 and Ege Endustri ve Ticaret AS (IS:EGEEN) was up 3.54% or 11.00 points to 321.50 in late trade.

The worst performers of the session were Turkiye Garanti Bankasi (IS:GARAN), which fell 8.17% or 0.70 points to trade at 7.87 at the close. Turkiye Vakiflar Bankasi TAO (IS:VAKBN) declined 7.13% or 0.360 points to end at 4.690 and Kiler Gayrimenkul Yatirim Ortakligi AS (IS:KLGYO) was down 6.47% or 0.150 points to 2.170.

Falling stocks outnumbered advancing ones on the Istanbul Stock Exchange by 348 to 41 and 19 ended unchanged.

Shares in Turkiye Garanti Bankasi (IS:GARAN) fell to 52-week lows; falling 8.17% or 0.70 to 7.87. Shares in Turkiye Vakiflar Bankasi TAO (IS:VAKBN) fell to 52-week lows; losing 7.13% or 0.360 to 4.690.

Gold Futures for August delivery was down 0.26% or 3.30 to $1256.30 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August fell 0.05% or 0.04 to hit $73.81 a barrel, while the September Brent oil contract rose 0.70% or 0.55 to trade at $78.62 a barrel.

USD/TRY was down 0.63% to 4.7072, while EUR/TRY fell 0.76% to 5.5235.

The US Dollar Index Futures was up 0.18% at 93.97.

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Sweden stocks higher at close of trade; OMX Stockholm 30 up 0.47%

– Sweden stocks were higher after the close on Tuesday, as gains in the Oil&Gas, Technology and Healthcare sectors led shares higher.

At the close in Stockholm, the OMX Stockholm 30 gained 0.47%.

The best performers of the session on the OMX Stockholm 30 were Hexagon AB ser. B (ST:HEXAb), which rose 1.88% or 9.1 points to trade at 492.7 at the close. Meanwhile, Kinnevik, Investment AB ser. B (ST:KINVb) added 1.20% or 3.7 points to end at 312.2 and Atlas Copco AB Series B (ST:ATCOb) was up 1.05% or 2.3 points to 221.8 in late trade.

The worst performers of the session were SSAB AB ser. A (ST:SSABa), which fell 1.03% or 0.45 points to trade at 43.22 at the close. H&M Hennes&Mauritz AB B (ST:HMb) declined 0.97% or 1.4 points to end at 141.6 and Telia Company AB (ST:TELIA) was down 0.55% or 0.23 points to 41.72.

Rising stocks outnumbered declining ones on the Stockholm Stock Exchange by 388 to 231 and 59 ended unchanged.

Crude oil for August delivery was down 0.20% or 0.15 to $73.70 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 0.55% or 0.43 to hit $78.50 a barrel, while the August Gold Futures contract fell 0.29% or 3.70 to trade at $1255.90 a troy ounce.

EUR/SEK was up 0.08% to 10.2621, while USD/SEK rose 0.28% to 8.7516.

The US Dollar Index Futures was up 0.20% at 93.99.

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Greece stocks higher at close of trade; Athens General Composite up 0.74%

– Greece stocks were higher after the close on Tuesday, as gains in the Food, Technology and Basic Resources sectors led shares higher.

At the close in Athens, the Athens General Composite rose 0.74%.

The best performers of the session on the Athens General Composite were Intralot (AT:INLr), which rose 4.75% or 0.041 points to trade at 0.904 at the close. Meanwhile, Intracom Hold (AT:INRr) added 4.17% or 0.025 points to end at 0.625 and Coca Cola HBC AG (AT:EEEr) was up 3.62% or 1.0550 points to 30.1950 in late trade.

The worst performers of the session were Nireus Aqua (AT:NIRr), which fell 8.95% or 0.017 points to trade at 0.173 at the close. Selonda Aquaculture SA (AT:SELr) declined 8.47% or 0.0100 points to end at 0.1080 and Crete Plastics SA (AT:PLAKR) was down 5.07% or 0.700 points to 13.100.

Rising stocks outnumbered declining ones on the Athens Stock Exchange by 63 to 43 and 13 ended unchanged.

Gold Futures for August delivery was down 0.40% or 5.00 to $1254.60 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August rose 0.27% or 0.20 to hit $74.05 a barrel, while the September Brent oil contract rose 0.79% or 0.62 to trade at $78.69 a barrel.

EUR/USD was down 0.21% to 1.1726, while EUR/GBP fell 0.33% to 0.8834.

The US Dollar Index Futures was up 0.18% at 93.97.

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Gold Prices Head Back Towards 7-Month Lows on Stronger Dollar

- Gold prices were under pressure on Tuesday as a stronger dollar pushed the precious metal back towards 7-month lows hit a week earlier.

At 10:55AM ET (14:55GMT), gold futures for August delivery on the Comex division of the New York Mercantile Exchange gained $4.90, or 0.4%, to $1,254.70 a troy ounce.

Meanwhile, the U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, gained 0.22% to 94.01.

The dollar was seeing upside on Tuesday based primarily on weakness in major rivals.

The euro saw weakness as data revealed that German investor confidence fell to the lowest level in six years in July as fears over an escalation in trade tensions with the U.S. dampened the economic outlook.

Sterling was also under pressure as the first-ever monthly GDP figures painted a mixed picture of the economy, with modest growth driven by the services sector, partly offset by falling construction and industrial output.

Some analysts believe the data will keep the Bank of England on track for an August interest rate hike, but others fear that political instability may prompt policymakers to hold off.

British Prime Minister Theresa May is facing down a rebellion in her Conservative Party after Boris Johnson resigned as British foreign secretary on Monday, becoming the third minister to quit the government in twenty-four hours, rather than back her plans for a soft Brexit.

Dollar-denominated assets such as gold are sensitive to moves in the dollar. A rise in the dollar makes gold more expensive for holders of foreign currency, reducing demand for the precious metal.

U.S. data released on Tuesday continued to show signs of economic strength with small business optimism dipping much less than expected in June, holding onto the sixth highest level in its history.

The Job Openings and Labor Turnover survey (JOLTs) reinforced U.S. labor market strength as the report showed 6.638 million job openings, better than the 6.583 million expected.

In other metals trading, silver futures lost 0.3% at $16.090 a troy ounce by 10:57AM ET (14:57GMT).

Palladium futures fell 1.8% to $938.00 an ounce, while sister metal platinum traded down 1.2% at $834.20.

In base metals, copper gave up 0.9% to $2.825 a pound.

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Crude Oil Rises Amid Supply Worry as Iran Vows to Sell Oil

- Crude oil prices rose on Tuesday amid supply shortages, as Iran vowed to sell as much oil as it could.

West Texas Crude oil futures rose 0.84% to $74.47 a barrel as of 10:00 AM ET (14:00 GMT). Meanwhile Brent crude futures, the benchmark for oil prices outside the U.S., rose 1.65% to $79.36.

Iran’s vice president, Eshaq Jahangiri, said that the U.S.’s attempts to stop oil exports would have an impact but the country would still “sell as much oil as we can.”

U.S. President Donald Trump has told countries to stop buying oil from Iran by November 4 or face consequences. Trump pulled out of an international nuclear deal with Tehran in May.

Meanwhile a strike in Norway also boosted prices. Workers on Norwegian oil and gas rigs are expected to strike after rejecting a wage deal. The strike is likely to impact production levels. An outage at an oil facility in Canada has also reduced production into the U.S., while supply production falls in Libya and Venezuela have also increased the price of oil.

Elsewhere the Organization of the Petroleum Exporting Countries agreed in June to raise output at a nominal increase of 1 million barrels a day (bpd) amid pressure from the U.S. to decrease prices. While OPEC members will add around 700,000 barrels a day, non-OPEC oil suppliers led by Russia would add the rest. Investors worry the increase in supply could use up spare capacity and increase market volatility.

In other energy trading, Gasoline RBOB Futures increased 0.86% at $2.1715 a gallon, while heating oil rose 1.56% to $2.2300 a gallon. Natural gas futures were down 0.60% to $2.811 per million British thermal units.

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Stocks- Wall Street Modestly Higher as Earnings in Focus

– Wall Street opened slightly higher on Tuesday, as second quarter earnings were in focus but were weighed down by lingering trade tension concerns.

The S&P 500 gained six points or 0.24% to 2,790.80 as of 9:39 AM ET (13:39 GMT) while the Dow composite increased 109 points or 0.44% to 24,885.76 and tech heavy NASDAQ Composite was up over 12 points or 0.17% to 7,769.08.

Second quarter financial results start this week, with Delta Air Lines Inc (NYSE:DAL) reporting its financial results on Thursday, while the bigger banks, including JPMorgan (NYSE:JPM) and Bank of America (NYSE:BAC), report on Friday.

Earnings focus was weighed down by trade tensions as traders look for any potential tariff impact on corporate profits. Meanwhile U.S. President Donald Trump is flying to Brussels for the NATO summit, with investors keeping an eye out for any possible trade commentary.

PepsiCo (NASDAQ:PEP) surged 2.29% after reporting higher than expected financial results, while Tesla (NASDAQ:TSLA) gained 2.19% amid news that the luxury car maker is planning a factory in China. Citigroup (NYSE:C) rose 0.42% while Boeing (NYSE:BA) was up 1.19% and Twitter Inc (NYSE:TWTR) increased 1.63%.

Elsewhere Netflix (NASDAQ:NFLX) fell 0.67% while Advanced Micro Devices Inc (NASDAQ:AMD) was down 0.75% and Amazon.com (NASDAQ:AMZN) inched down 0.14%.

In Europe stocks were mostly up. Germany’s DAX rose 74 points or 0.59% while in France the CAC 40 increased 33 points or 0.62% and in London, the FTSE 100 was up 11 points or 0.15%. Meanwhile the pan-European Euro Stoxx 50 gained nine points or 0.27% while Spain’s IBEX 35 inched down 37 points or 0.38%.

In commodities, gold futures fell 0.38% to $1,254.80 a troy ounce while crude oil futures increased 0.96% to $74.56 a barrel. The U.S. dollar index, which measures the greenback against a basket of six major currencies, was up 0.28% to 94.06.

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Dollar Extends Early Gains, Euro Slips

- The dollar extended early gains against a currency basket on Tuesday, sending the euro lower, while mixed GDP data and political instability weighed on the pound.

The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was up 0.25% to 94.04 by 09:28 AM ET (13:28 GMT).

The euro was weaker against the firmer dollar, with EUR/USD down 0.27% to 1.1719 after falling as low as 1.1691 earlier.

In the euro zone, data on Tuesday showed that German investor confidence fell to the lowest level in six years in July as fears over an escalation in trade tensions with the U.S. dampened the economic outlook.

The ZEW index of German investor sentiment dropped to -24.7 this month from -16.1 in June, the weakest reading since August 2012.

The dollar was also higher against the yen, with USD/JPY climbing 0.33% to 111.19, the most since May 21.

Demand for the dollar continued to be underpinned by expectations for a faster pace of rate hikes by the Federal Reserve this year.

The pound was a touch higher, with GBP/USD up 0.11% to 1.3273.

UK economic growth picked up to 0.3% in May from 0.2% in April, according to the first ever monthly GDP figures released earlier Tuesday.

The report painted a mixed picture of the economy, with modest growth driven by the services sector, partly offset by falling construction and industrial output.

Some analysts believe the data will keep the Bank of England on track for an August interest rate hike, but others fears that political instability may prompt policymakers to hold off.

British Prime Minister Theresa May is facing down a rebellion in her Conservative Party after Boris Johnson resigned as British foreign secretary on Monday, becoming the third minister to quit the government in twenty-four hours, rather than back her plans for a soft Brexit.

Meanwhile, the pound gained ground against the softer euro, with EUR/GBP losing 0.44% to trade at 0.8823.

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Stocks - PepsiCo, Celgene Gain in Pre-Market, EBay Falls, OncoCyte Soars

- Stocks in focus in pre-market trade Monday:

• PepsiCo (PEP) stock jumped 3.84% by 8:31 AM ET (12:31 GMT) after reporting second quarter core earnings per share of $1.61, topping consensus of $1.53.

• eBay (EBAY) stock fell 1.39% after SunTrust analysts downgraded the stock to hold from buy, citing concerns over recent rulings on e-commerce tax collection.

• OncoCyte (OCX) stock skyrocketed 52.46% after the biotech company said a lung cancer diagnostic blood test produced “encouraging results” and that “the clinical performance of the test may be better than was previously expected.”

• Celgene (CELG) stock gained 1.49% after announcing positive results in a Phase III trial for the treatment of breast cancer that “significantly reduced the risk of disease worsening or death.”

• Cactus (WHD) stock sank 4.72% after announcing it has commenced an underwritten public offering of 10 million shares of its Class A common stock.

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Bitcoin Falls to Four-Day Low; Crypto Exchange Hacked

- Bitcoin was at a four-day low on Tuesday, as cryptocurrencies slumped and news surfaced of another security breach on a token platform.

Bitcoin was trading at $6,371.60, falling 5.56% on the Bitfinex exchange, as of 7:45 AM ET (11:45 GMT). Bitcoin has struggled to gain ground in recent months, falling nearly 70% since its peak of almost $20,000 in December.

Israeli start-up Bancor lost $13.5 million digital coins on Monday. A wallet on its network was compromised, leading to a loss of $12.5 million worth of ethereum and $1 million of a lesser-known token called Pundi X.

The company tweeted that no user wallets had been compromised in the attack.

It’s the latest of a number of breaches this year. Security breaches are one of the biggest threats to digital coin exchanges.

Ethereum fell 12.19% to $430.70 on the Bitfinex exchange after the news.

Cryptocurrencies overall were lower, with the coin market cap of total market capitalization down at $253 billion at the time of writing compared to $273 billion on Monday. Ripple, the third largest virtual currency, decreased 7.2% to $0.44576 while Litecoin was at $75.295, down 9.52%.

In regulation news, the U.S. Financial Industry Regulatory Authority wants all firms and brokers that sell securities to register.

The notice, issued on Friday, advises firms should be licensed and registered with FINRA, in addition to the U.S. Securities and Exchange Commision. The nonprofit organization is authorized by the U.S. Congress to make sure the broker-dealer industry operates fairly.

“FINRA is issuing this notice to encourage each firm to promptly notify FINRA if it, or its associated persons or affiliates, currently engages, or intends to engage, in any activities related to digital assets, such as cryptocurrencies and other virtual coins and tokens,” the notice said.

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Suddenly, The Fed Has Something To Worry About

- After years of calibrating monetary policy for an economy with steady, modest growth and tame, if not negligible, inflation, economists say the U.S. central bank is facing two challenging forces that may make its job more difficult.
The Fed's acknowledgement of both was evident in the minutes of the June meeting of its policy setting committee, known as the FOMC.
One worry is a trade war, which could dent or even derail economic growth, depending on its severity.
The Fed said that the uncertainty and risks with trade policy had "intensified", raising concern they "could have a negative effect on business sentiment and investment spending."
The other worry is more conventional -- economic growth becomes too strong and triggers a surge in inflation.
The Fed said it was "concerned that a prolonged period in which the economy operated beyond potential could give rise to heightened inflationary pressures or to financial imbalances that could lead eventually to a significant economic downturn."
Economists say if either threat materializes, it will alter the Fed's policy of gradual, incremental interest rate increases.
And that, they say, increases the chance that the Fed will either do too much or too little in trying to strike the right balance.

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Stocks- U.S. Futures Inch Forward as Earnings Season Kicks Off

– U.S. futures pointed to a slightly higher opening bell, as investors wait for second quarter corporate earnings results to kick off.

The S&P 500 futures rose five points or 0.20% to 2,773.50 as of 6:47 AM ET (10:47 GMT) while Dow futures increased 58 points or 0.23% to 24,832.0. Meanwhile tech heavy Nasdaq 100 futures gained 21 points or 0.29% to 7,321.75.

Second quarter earnings begins this week, with PepsiCo (NASDAQ:PEP) reporting higher than expected financial results. The beverage firm rose 1.60% in pre-market trading.

Delta Air Lines Inc (NYSE:DAL) is expected to reports its financial results on Wednesday, while the big banks report on Friday.

Trade tensions lingered on earnings however, as traders look for any potential tariff impact on corporate profits.

Netflix (NASDAQ:NFLX) rose 0.48% in pre-market trading while Tesla (NASDAQ:TSLA) increased 0.78% and semiconductor Micron was up 0.33%.

Elsewhere Jd.Com Inc Adr (NASDAQ:JD) fell 0.08% while Credit Suisse (SIX:CSGN) Group (NYSE:CS) (SIX:CSGN) was down 0.13%.

In economic news, the Job Openings and Labor Turnover Survey (JOLTS) is due at 10:00 AM ET (14:00 GMT).

In Europe stocks were mostly up, as investors watch for news of Brexit after UK Foreign Secretary Boris Johnson and Brexit Secretary David Davis resigned, putting pressure on Prime Minister Theresa May. Germany’s DAX rose 52 points or 0.42% while in France the CAC 40 increased 29 points or 0.54% and in London, the FTSE 100 was up 18 points or 0.24%. Meanwhile the pan-European Euro Stoxx 50 gained eight points or 0.24% while Spain’s IBEX 35 fell 18 points or 0.18%.

In commodities, gold futures fell 0.49% to $1,253.40 a troy ounce while crude oil futures increased 0.58% to $74.28 a barrel. The U.S. dollar index which measures the greenback against a basket of six major currencies, was up 0.29% to 94.07.

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Indonesia stocks higher at close of trade; IDX Composite Index up 1.28%

– Indonesia stocks were higher after the close on Tuesday, as gains in the Basic Industry, Property and Manufacturing sectors led shares higher.

At the close in Jakarta, the IDX Composite Index added 1.28%.

The best performers of the session on the IDX Composite Index were Holcim Indonesia Tbk (JK:SMCB), which rose 24.62% or 160 points to trade at 810 at the close. Meanwhile, Skybee Tbk PT (JK:SKYB) added 23.02% or 58 points to end at 310 and Minna Padi Investama Tbk (JK:PADI) was up 21.62% or 96 points to 540 in late trade.

The worst performers of the session were PT Cahayasakti Investindo Sukses Tbk (JK:CSIS), which fell 24.49% or 180 points to trade at 555 at the close. PT First Indo American Leasing Tbk (JK:FINN) declined 21.78% or 22 points to end at 79 and Dian Swastatika Sentosa Tbk (JK:DSSA) was down 18.00% or 4500.00 points to 20500.00.

Rising stocks outnumbered declining ones on the Jakarta Stock Exchange by 238 to 135 and 114 ended unchanged.

Crude oil for August delivery was up 0.54% or 0.40 to $74.25 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 1.37% or 1.07 to hit $79.14 a barrel, while the August Gold Futures contract fell 0.48% or 6.00 to trade at $1253.60 a troy ounce.

USD/IDR was up 0.39% to 14352.6, while AUD/IDR rose 0.16% to 10705.90.

The US Dollar Index Futures was up 0.21% at 94.00.

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German ZEW Economic Sentiment Index Deteriorates in July

- The mood among German investors worsened in July, a survey showed on Tuesday.

The Mannheim-based ZEW research institute said its monthly survey showed its German economic sentiment fell to a negative 24.7 this month from minus 16.1 in June. That was compared to the consensus forecast for a reading of minus 18.0.

A separate gauge measuring investors’ assessment of the economy’s current conditions fell to 74.2 from 80.6 last month. That compared with the consensus forecast for a decrease to 78.2.

Meanwhile, the ZEW’s index of euro zone economic sentiment decreased to minus 18.7 in July from minus 12.6 a month earlier. Consensus expected the index to fall to minus 13.2.

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Japan stocks higher at close of trade; Nikkei 225 up 0.66%

– Japan stocks were higher after the close on Tuesday, as gains in the Shipbuilding, Financial Services and Non-Metal Minerals sectors led shares higher.

At the close in Tokyo, the Nikkei 225 gained 0.66%.

The best performers of the session on the Nikkei 225 were Yahoo Japan Corp. (T:4689), which rose 11.68% or 42.0 points to trade at 401.5 at the close. Meanwhile, Showa Shell Sekiyu K.K. (T:5002) added 9.65% or 148.0 points to end at 1682.0 and Yaskawa Electric Corp. (T:6506) was up 6.36% or 245.0 points to 4100.0 in late trade.

The worst performers of the session were Sumitomo Dainippon Pharma Co Ltd (T:4506), which fell 4.08% or 97.0 points to trade at 2283.0 at the close. The Kansai Electric Power Co. (T:9503) declined 3.36% or 54.5 points to end at 1568.5 and Chubu Electric Power Co., Inc. (T:9502) was down 2.81% or 48.5 points to 1677.0.

Rising stocks outnumbered declining ones on the Tokyo Stock Exchange by 1760 to 1635 and 176 ended unchanged.

The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was down 8.42% to 16.64.

Crude oil for August delivery was up 0.66% or 0.49 to $74.34 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 1.17% or 0.91 to hit $78.98 a barrel, while the August Gold Futures contract fell 0.34% or 4.30 to trade at $1255.30 a troy ounce.

USD/JPY was up 0.29% to 111.15, while EUR/JPY rose 0.11% to 130.37.

The US Dollar Index Futures was up 0.18% at 93.97.

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UK Economy Grows 0.3% in May, Keeping BoE Rate Hike Hopes Alive

- The UK economy grew at a solid pace in May, according to data released on Tuesday, likely keeping the Bank of England on track for an interest rate hike at its upcoming August meeting.

The Office of National Statistics said the economy grew 0.3% month-on-month in May, recovering from a sharp slowdown at the start of the year, where growth was just 0.2% in the three months to March.

The rolling three-month estimate showed that the economy grew 0.2% in the three months to May, reflecting the slower growth from the earlier months.

The ONS said growth remains modest and is heavily driven by the service sector. Declines in activity in construction and industrial output, as seen in the factory output data acted as a drag on growth, the report indicated.

It is the first time that the ONS released monthly economic growth figures and a rolling three-month figure, instead of a quarterly figure.

Under the new model, the GDP report will contain a significantly higher amount of data and allow for quicker estimates of growth, but it will be volatile and subject to revision.

The pound was little changed against the dollar for the day following the report, with GBP/USD last at 1.3257 rising as high as 1.3301 earlier.

Sterling was higher against the euro, with EUR/GBP sliding 0.15% to 0.8849.

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Taiwan stocks higher at close of trade; Taiwan Weighted up 0.34%

– Taiwan stocks were higher after the close on Tuesday, as gains in the Glass, Electronic Parts/Components and Computers&Peripherals sectors led shares higher.

At the close in Taiwan, the Taiwan Weighted added 0.34%.

The best performers of the session on the Taiwan Weighted were Infodisc Technology Co Ltd (TW:2491), which rose 9.96% or 0.71 points to trade at 7.84 at the close. Meanwhile, Young Optics Inc (TW:3504) added 9.95% or 10.00 points to end at 110.50 and Episil-Precision Inc (TW:3016) was up 9.92% or 6.50 points to 72.00 in late trade.

The worst performers of the session were Yuan Jen Enterprises Co Ltd (TW:1725), which fell 9.14% or 1.85 points to trade at 18.40 at the close. Edimax Technology Co Ltd (TW:3047) declined 7.59% or 0.77 points to end at 9.38 and Taiwan Mobile Co Ltd (TW:3045) was down 4.93% or 5.50 points to 106.00.

Rising stocks outnumbered declining ones on the Taiwan Stock Exchange by 529 to 288 and 99 ended unchanged.

Crude oil for August delivery was up 0.69% or 0.51 to $74.36 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 0.69% or 0.54 to hit $78.61 a barrel, while the August Gold Futures contract fell 0.17% or 2.10 to trade at $1257.50 a troy ounce.

USD/TWD was up 0.23% to 30.392, while TWD/CNY fell 0.14% to 0.2173.

The US Dollar Index Futures was up 0.09% at 93.88.

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Asian Stocks Mixed; China CPI, PPI In focus

– Asian markets were mixed in afternoon trade on Tuesday. As recent trade-related concerns seemed to have faded for now, traders' focus are likely to switch to economic data later this week. China’s data received some focus as the country’s producer price index topped forecasts in June and hit a six-month high.

Annual consumer inflation rate (CPI) rose 1.9% in June, in line with expectations, while producer price index (PPI) rose 4.7% in June from a year earlier, beating forecasts of a 4.5% increase, official data showed on Tuesday. 

U.S. President Donald Trump said in a tweet on Monday that he believes his North Korean counterpart Kim Jong-un would honor an agreement they reached in Singapore last month to pursue denuclearization, but he hinted that China may be working against it.

"I have confidence that Kim Jong Un will honor the contract we signed &, even more importantly, our handshake. We agreed to the denuclearization of North Korea," Trump tweeted. "China, on the other hand, may be exerting negative pressure on a deal because of our posture on Chinese Trade-Hope Not!" 

In response, Chinese Foreign Ministry spokeswoman Hua Chunying said blaming Beijing for stumbling blocks in North Korea talks is “completely unreasonable.”

Trump’s tweet came one day after North Korea’s Foreign Ministry called a visit by U.S. Secretary of State Mike Pompeo “regrettable” and accused Washington of making “gangster-like” demands to pressure the country into abandoning its nuclear weapons.  

"The U.S. side came up only with its unilateral and gangster-like demand for denuclearization,” an unnamed Foreign Ministry spokesman said in statement a few hours after Pompeo’s departure.   

In Asia, The Shanghai Composite slipped 0.3% while the SZSE Component climbed 0.2% by 1:30AM ET (05:30 GMT).

Japan’s Nikkei was 0.2% higher by 9:15PM ET (01:15 GMT), while South Korea’s KOSPI climbed 1.1%.  

"No new news from the U.S.-Sino trade war has helped investors focus back on fundamentals and with the U.S. earnings season starting later this week, the U.S. has led the gains in equities overnight," Rodrigo Catril, senior foreign exchange strategist at National Australia Bank, said in a note. 

Yahoo Japan Corp. (T:4689) made headlines on Tuesday as the company announced it is buying back around $2 billion worth of its shares from Softbank Group as part of a three-way deal with its top shareholders.

The deal will see Altaba, which was formerly the internet giant Yahoo! Inc (NASDAQ:AABA), sell down its stake in Yahoo Japan by around $2 billion and SoftBank raise its stake slightly in Yahoo Japan to around 48%.

Meanwhile, the resignation of U.K. Foreign Secretary Boris Johnson made headlines as the news compounded the chaos in the U.K. government following the departures of Brexit Secretary David Davis and his deputy over the weekend.   

Down under, Australia’s S&P/ASX 200 slipped 0.3%.   

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Bitcoin Slips; China’s Crypto Ban Proven Successful, Reports Indicate

– Bitcoin slipped on Monday and continued to hover near $7,000 amid a lack of meaningful data. Although not a directional driver, a report by the PBOC caught some attention as it indicated the country’s tough stance on crypto trading has proven to be successful.

Bitcoin was trading at $6,640.4 by 10:45AM ET (02:45 GMT) on the Bitfinex exchange, down 1.1% over the previous 24 hours.    
    
Ethereum, the world’s second largest cryptocurrency by market cap, slipped 5.0% to $459.99 on the Bitfinex exchange.    
    
Ripple’s XRP token fell 2.6% to $0.46557 on the Poloniex exchange.    
    
Meanwhile, Litecoin traded 4.1% lower to $78.927.   

A report published by the People’s Bank of China (PBOC) revealed that the cryptocurrency ban imposed by regulators in China seemed to be rather successful, as the PBOC said crypto trading in China has “all but gone away”.

The PBOC also noted in the report that Chinese regulators are not planning to lift the ban on crypto trading in the near future, as such trading pose large financial risks for Chinese investors.

Hong Kong-based media source The Asia Times recently reported that the Chinese yuan is now utilized in only less than 1% of all Bitcoin exchange trade, compared with over 90% of all global trades a year ago before the crypto ban in China took place.

“This indicates that the policy has been very successful. It is within expectations that the yuan’s share in global Bitcoin transactions would drop after China announced the ban,” said Guo Dazhi, research director at Zhongguancun Internet Finance.

In other news, Nobel prize-winning economist Joseph Stiglitz warned on Monday that the anonymity nature of Bitcoin opens the door for criminal enterprises.

"You cannot have a means of payment that is based on secrecy when you’re trying to create a transparent banking system," said Stiglitz. "If you open up a hole like bitcoin, then all the nefarious activity will go through that hole, and no government can allow that.”

Stiglitz then said further growth in the crypto market would likely bring more regulation from authorities: “Once it becomes significant they will use the hammer.”

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Asian Markets Extend Gain as Investors Set Aside Trade Concerns

– Asian markets were mostly higher in morning trade on Tuesday as recent trade-related concerns seemed to have faded for now.

U.S. President Donald Trump said in a tweet on Monday that he believes his North Korean counterpart Kim Jong-un would honor an agreement they reached in Singapore last month to pursue denuclearization.

"I have confidence that Kim Jong Un will honor the contract we signed &, even more importantly, our handshake. We agreed to the denuclearization of North Korea," Trump tweeted. "China, on the other hand, may be exerting negative pressure on a deal because of our posture on Chinese Trade-Hope Not!"

Trump’s tweet came one day after North Korea’s Foreign Ministry called a visit by U.S. Secretary of State Mike Pompeo “regrettable” and accused Washington of making “gangster-like” demands to pressure the country into abandoning its nuclear weapons. 

“The U.S. side came up only with its unilateral and gangster-like demand for denuclearization,” an unnamed Foreign Ministry spokesman said in statement a few hours after Pompeo’s departure.  

Overnight, the Dow Jones Industrial Average rose 1.3%, the S&P 500 gained 0.89% and the Nasdaq composite also added 0.9%.

"No new news from the U.S.-Sino trade war has helped investors focus back on fundamentals and with the U.S. earnings season starting later this week, the U.S. has led the gains in equities overnight," Rodrigo Catril, senior foreign exchange strategist at National Australia Bank, said in a note.

In Asia, Japan’s Nikkei was 1.0% higher by 9:15PM ET (01:15 GMT), while South Korea’s KOSPI climbed 0.7%.

Meanwhile, the resignation of U.K. Foreign Secretary Boris Johnson made headlines as the news compounded the chaos in the U.K. government following the departures of Brexit Secretary David Davis and his deputy over the weekend.

Down under, Australia’s S&P/ASX 200 slipped 0.04%.

Looking ahead, China is due to report CPI and PPI later in the day. Inflation is expected to come in at 1.9%, compared with May’s 1.8%. Economists expect PPI to expand 4.5%, from last month’s 4.1%.

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U.S. stocks higher at close of trade; Dow Jones Industrial Average up 1.31%

– U.S. stocks were higher after the close on Monday, as gains in the Financials, Industrials and Oil&Gas sectors led shares higher.

At the close in NYSE, the Dow Jones Industrial Average rose 1.31%, while the S&P 500 index added 0.88%, and the NASDAQ Composite index gained 0.88%.

The best performers of the session on the Dow Jones Industrial Average were Caterpillar Inc (NYSE:CAT), which rose 4.11% or 5.56 points to trade at 140.97 at the close. Meanwhile, JPMorgan Chase&Co (NYSE:JPM) added 3.09% or 3.22 points to end at 107.28 and Goldman Sachs Group Inc (NYSE:GS) was up 2.80% or 6.20 points to 227.99 in late trade.

The worst performers of the session were Procter&Gamble Company (NYSE:PG), which fell 1.83% or 1.45 points to trade at 77.86 at the close. Coca-Cola Company (NYSE:KO) declined 0.54% or 0.24 points to end at 44.40 and Merck&Company Inc (NYSE:MRK) was down 0.29% or 0.18 points to 62.02.

The top performers on the S&P 500 were Noble Energy Inc (NYSE:NBL) which rose 4.57% to 36.82, Caterpillar Inc (NYSE:CAT) which was up 4.11% to settle at 140.97 and MetLife Inc (NYSE:MET) which gained 3.98% to close at 45.47.

The worst performers were PPL Corporation (NYSE:PPL) which was down 5.01% to 28.09 in late trade, FirstEnergy Corporation (NYSE:FE) which lost 3.94% to settle at 35.32 and Pinnacle West Capital Corp (NYSE:PNW) which was down 3.94% to 79.48 at the close.

The top performers on the NASDAQ Composite were Staffing 360 Solutions Inc (NASDAQ:STAF) which rose 301.46% to 5.500, MabVax Therapeutics Holdings Inc (NASDAQ:MBVX) which was up 147.46% to settle at 1.460 and Benitec Biopharma Ltd ADR (NASDAQ:BNTC) which gained 49.55% to close at 3.3500.

The worst performers were Adesto Technologies Corp (NASDAQ:IOTS) which was down 24.71% to 6.40 in late trade, Real Goods Solar Inc (NASDAQ:RGSE) which lost 17.76% to settle at 0.3310 and Biocept Inc (NASDAQ:BIOC) which was down 15.64% to 0.151 at the close.

Rising stocks outnumbered declining ones on the New York Stock Exchange by 1903 to 1164 and 121 ended unchanged; on the Nasdaq Stock Exchange, 1551 rose and 1012 declined, while 120 ended unchanged.

Shares in Staffing 360 Solutions Inc (NASDAQ:STAF) rose to 52-week highs; up 301.46% or 4.130 to 5.500. Shares in Real Goods Solar Inc (NASDAQ:RGSE) fell to all time lows; falling 17.76% or 0.0715 to 0.3310. Shares in Biocept Inc (NASDAQ:BIOC) fell to all time lows; down 15.64% or 0.028 to 0.151.

The CBOE Volatility Index, which measures the implied volatility of S&P 500 options, was down 5.01% to 12.70.

Gold Futures for August delivery was up 0.22% or 2.70 to $1258.50 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August rose 0.30% or 0.22 to hit $74.02 a barrel, while the September Brent oil contract rose 1.48% or 1.14 to trade at $78.25 a barrel.

EUR/USD was up 0.04% to 1.1750, while USD/JPY rose 0.32% to 110.82.

The US Dollar Index Futures was up 0.05% at 93.81.

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Colombia stocks lower at close of trade; COLCAP down 0.14%

– Colombia stocks were lower after the close on Monday, as losses in the Investment, Financials and Agriculture sectors led shares lower.

At the close in Colombia, the COLCAP lost 0.14%.

The best performers of the session on the COLCAP were Cemex Latam Holdings SA (CN:CLH), which rose 3.50% or 280.0 points to trade at 8280.0 at the close. Meanwhile, Ecopetrol SA (CN:ECO) added 2.39% or 70.0 points to end at 3005.0 and Corporacion Financiera Colombiana SA (CN:CFV) was up 1.54% or 380.0 points to 25080.0 in late trade.

The worst performers of the session were Conconcret (CN:CIC), which fell 2.44% or 19.0 points to trade at 760.0 at the close. Avianca Holdings Pf (CN:AVT_p) declined 1.88% or 45.0 points to end at 2350.0 and Pfgrupsura (CN:SIS_p) was down 1.83% or 660.0 points to 35340.0.

Falling stocks outnumbered advancing ones on the Colombia Stock Exchange by 16 to 7 and 1 ended unchanged.

Shares in Conconcret (CN:CIC) fell to 5-year lows; down 2.44% or 19.0 to 760.0. Shares in Avianca Holdings Pf (CN:AVT_p) fell to 52-week lows; falling 1.88% or 45.0 to 2350.0.

US coffee C for September delivery was up 0.69% or 0.78 to $114.58 . Elsewhere in commodities trading, US cocoa for delivery in September fell 1.67% or 41.50 to hit $2439.00 , while the August Gold Futures contract rose 0.21% or 2.60 to trade at $1258.40 a troy ounce.

USD/COP was up 0.52% to 2885.00, while BRL/COP rose 0.31% to 745.48.

The US Dollar Index Futures was up 0.06% at 93.82.

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Day Ahead: Top 3 Things to Watch

- Here’s a preview of the top 3 things that could rock markets tomorrow.

1. Pepsi Reports Earnings With Margins in Focus

With the Independence Day holiday in the rearview mirror, Wall Street turns its attention to second-quarter earnings.

The bulk of reports start next week, but this week still has some major names issuing results, starting Tuesday morning with PepsiCo (NASDAQ:PEP).

On average, analysts expect Pepsi to report quarterly earnings of $1.53 per share, on revenue of $16.09 billion.

Gross margins will be of particular interest to investors.

Last week, Deutsche Bank (DE:DBKGn) downgraded Pepsi to hold from buy. Deutsche’s analyst predicted a drop in quarterly gross profit margin due to commodities inflation.

2. Job Openings Expected to Decline

The economic calendar is fairly light tomorrow, but more employment numbers will arrive.

The JOLTs job openings data are scheduled for 10:00 AM ET (14:00 GMT).

Economists expect that job vacancies dropped to 6.583 million in June from 6.698 million in May.

On Friday, the Labor Department reported that nonfarm payrolls rose more than expected, while wage growth was lower than forecast last month.

Before the bell, the National Federation of Independent Business (NFIB) small business optimism index is released at 6:00 AM ET (10:00 GMT). Economists predict a drop to 105.6 in June from 107.8 in May.

3. Currencies See Action as Brexit Resignations Pile Up

The currency market could also garner some extra attention from investors after Monday’s whipsaw action.

The pound struggled after the resignation of Boris Johnson as U.K. foreign secretary. Johnson became the third member of the government to resign within 24 hours in protest over plans for a soft Brexit.

GBP/USD came under pressure, falling 0.32% to $1.3245.

The pound dropped against the dollar and the euro. If dollar strength continues, that could put pressure on shares of companies that rely on a weaker dollar to boost international revenue.

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Crude Oil Prices Settle Higher; Canadian Outage May End Sooner Than Expected

– WTI crude oil prices settled higher Monday, but were under pressure as Canada's Syncrude operations are set to resume activity sooner than expected, while signs of rising U.S. output added to concerns.

On the New York Mercantile Exchange crude futures for August delivery rose 5 cents to settle at $73.85 a barrel, while on London's Intercontinental Exchange, Brent rose 1.4% to trade at $78.17 a barrel.

Suncor Energy said Monday its Syncrude oil sands project in Canada would resume some production in July, sooner than expected, and hit full capacity in September, following an outage last month that disrupted total output.

This could boost crude supplies across North America at a time when inventories at Cushing, Okla., the delivery point for U.S. crude futures, fell to their lowest level in 3-1/2 years.

Cushing inventories fell to 27.78 million barrels for the week ended June 29, according to the Energy Information Administration.

The tentative start to the week for WTI crude oil prices emerged as investors continued to weigh the impact on global crude stockpiles of ongoing supply outages in Libya against increased output from OPEC producers.

Libya's national oil output has dropped to 527,000 barrels per day (bpd) from a high of 1.28 million bpd in February, the head of the National Oil Corporation said on Monday.

In a bid to prevent a global crude supply shortage – amid rising oil demand and ahead of U.S. sanctions on Iran – Saudi Arabia reportedly raised output by 458,000 barrels a day (bpd) in June from the prior month.

But market participants continue to expect that oil demand will outstrip supply as major oil producing countries have little spare capacity.

Gains in U.S. crude oil prices, meanwhile, were limited as investors continued to digest data released Friday from Baker Hughes showing the number of U.S. oil drilling rigs in operation rose by 5 to 863 in the week to June 29.

Rising U.S. rig counts – widely viewed as a sign of increased activity in the sector – has shifted the focus to domestic crude output growth.

The Energy Information Administration forecasts U.S. crude production to average a record 11.8 million barrels a day next year, from current levels at about 10.9 million barrels a day.

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Nigeria stocks lower at close of trade; NSE 30 down 0.07%

– Nigeria stocks were lower after the close on Monday, as losses in the Food, Beverages&Tobacco, Insurance and Oil&Gas sectors led shares lower.

At the close in Lagos, the NSE 30 fell 0.07%.

The best performers of the session on the NSE 30 were Dangote Flour Mills PLC (LAGOS:DANGFLOUR), which rose 1.00% or 0.10 points to trade at 10.10 at the close. Meanwhile, Unilever Nig (LAGOS:UNILEVE) added 0.10% or 0.05 points to end at 51.65 and Guiness Nig (LAGOS:GUINNES) was up 0.05% or 0.05 points to 97.00 in late trade.

The worst performers of the session were Pz Cussons LG (LAGOS:PZ), which fell 8.42% or 1.60 points to trade at 17.40 at the close. Total Nig (LAGOS:TOTAL) declined 7.14% or 15.00 points to end at 195.00 and Nestle Nig (LAGOS:NESTLE) was down 6.60% or 99.00 points to 1401.00.

Falling stocks outnumbered advancing ones on the Lagos by 57 to 30 and 15 ended unchanged.

Shares in Pz Cussons LG (LAGOS:PZ) fell to 52-week lows; falling 8.42% or 1.60 to 17.40.

Crude oil for August delivery was down 0.33% or 0.24 to $73.56 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 1.04% or 0.80 to hit $77.91 a barrel, while the August Gold Futures contract rose 0.29% or 3.70 to trade at $1259.50 a troy ounce.

EUR/NGN was up 0.57% to 423.850, while USD/NGN fell 0.14% to 360.000.

The US Dollar Index Futures was up 0.14% at 93.89.

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Portugal stocks higher at close of trade; PSI 20 up 0.77%

– Portugal stocks were higher after the close on Monday, as gains in the Consumer Goods, Industrials and Technology sectors led shares higher.

At the close in Lisbon, the PSI 20 gained 0.77%.

The best performers of the session on the PSI 20 were Pharol SGPS SA (LS:PHRA), which rose 2.08% or 0.0050 points to trade at 0.2450 at the close. Meanwhile, EDP (LS:EDP) added 1.81% or 0.0620 points to end at 3.4920 and Corticeira Amorim (LS:CORA) was up 1.79% or 0.200 points to 11.380 in late trade.

The worst performers of the session were EDP Renovaveis (LS:EDPR), which fell 0.49% or 0.0450 points to trade at 9.0550 at the close. Semapa (LS:SEM) declined 0.22% or 0.0500 points to end at 23.0000 and Sonae (LS:YSO) was down 0.10% or 0.0010 points to 1.0220.

Rising stocks outnumbered declining ones on the Lisbon Stock Exchange by 24 to 8 and 7 ended unchanged.

Shares in EDP (LS:EDP) rose to 52-week highs; gaining 1.81% or 0.0620 to 3.4920.

Brent oil for September delivery was up 1.19% or 0.92 to $78.03 a barrel. Elsewhere in commodities trading, Crude oil for delivery in August fell 0.22% or 0.16 to hit $73.64 a barrel, while the August Gold Futures contract rose 0.36% or 4.50 to trade at $1260.30 a troy ounce.

EUR/USD was up 0.01% to 1.1746, while EUR/GBP rose 0.54% to 0.8887.

The US Dollar Index Futures was up 0.10% at 93.85.

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