Daily Analysis 08.02.2024

Events over the past day

Weekly jobless claims – USA

In the afternoon we will learn what the change in unemployment claims is, with expectations for a slight decrease in their number.

US indices ended Wednesday’s session higher.

The S&P 500 rose 0.82%, while the Dow Jones gained 0.40%.

The NASDAQ Composite, on the other hand, advanced 0.95%.

Ford Motor Co. climbed 6 percent after posting better-than-consensus analyst earnings. Chipotle Mexican Grill made a 7% jump for the same reason.
Snap, however, tumbled 34.6% as it showed weaker earnings for the quarter.
VF Corp. slumped 9.7%, disappointing with its quarterly net profit. Emerson Wholesale shot up 10.5%, delivering a stronger-than-expected quarterly result.

European markets, unlike U.S. markets, ended in the red.

The pan-European STOXX 600 index closed with a loss of 0.23%, squeezed by the energy sector, which erased 1% of its value.

Shares in Norwegian energy giant Equinor fell 7.8%. The ongoing war in the Middle East helped oil prices. US oil benchmark WTI lifted 0.86%, while global benchmark Brent advanced 0.84%. The spot gold price remained almost unchanged, sliding down 0.03%.

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