Stock Market Update
23-Jul-26 09:02 ET
Global markets mixed
Market is Closed
[BRIEFING.COM] S&P futures vs fair value: -85.00. Nasdaq futures vs fair value: -436.00.
The S&P 500 futures currently trade 85 points below fair value.
Equity indices in the Asia-Pacific region ended Thursday on a mostly higher note with South Korea's Kospi (+4.4%) continuing this week's rebound off a three-month low. The FCC voted to prohibit sales of devices in the U.S. that include hardware from certain Chinese companies. There was some speculation that the Bank of Japan could accelerate the pace of its rate hikes to counter inflation risks. Australia reported strong employment figures for June, though the market does not expect the Reserve Bank of Australia to hike rates at its next meeting. The Japanese yen has dropped to a fresh 2026 low against the dollar, hitting a level not seen since late 1986.
- In economic data:
- China's June FDI -5.0% YTD (last -8.6%)
- South Korea's flash Q2 GDP 0.6% qtr/qtr (expected 0.4%; last 1.8%); 3.7% yr/yr (expected 3.5%; last 3.8%)
- Australia's June Employment Change 76,300 (expected 16,400; last 44,000) and full employment change 29,300 (last 7,200). June Unemployment Rate 4.4%, as expected (last 4.4%) and Participation Rate 67.0% (expected 66.7%; last 66.7%)
- Singapore's June CPI 0.0% m/m (last 0.7%); 1.9% yr/yr (expected 2.0%; last 1.8%). June Core CPI 1.6% yr/yr, as expected (last 1.4%)
---Equity Markets---
- Japan's Nikkei: +0.5%
- Hong Kong's Hang Seng: +1.3%
- China's Shanghai Composite: +0.3%
- India's Sensex: -0.5%
- South Korea's Kospi: +4.4%
- Australia's ASX All Ordinaries: +0.2%
Major European indices trade in the red. BNP Paribas reported strong results and reaffirmed its targets for the next couple years while UniCredit beat expectations and raised its profit guidance for the next four years. STMicroelectronics also beat expectations by a wide margin. The European Central Bank will release its latest policy statement at 8:15 ET, and while a rate change is not expected at this time, ECB President Lagarde is likely to hint at a hike in September.
- In economic data:
- U.K.'s July CBI Industrial Trends Orders -45 (expected -40; last -45)
- France's July Business Survey 101, as expected (last 100)
---Equity Markets---
- STOXX Europe 600: -1.3%
- Germany's DAX: -1.3%
- U.K.'s FTSE 100: -0.7%
- France's CAC 40: -1.6%
- Italy's FTSE MIB: -2.6%
- Spain's IBEX 35: -1.3%
