Stock Market Update
27-Jul-26 09:04 ET
Global markets higher
Market is Closed
[BRIEFING.COM] S&P futures vs fair value: +50.00. Nasdaq futures vs fair value: +317.00.
The S&P 500 futures currently trade 50 points above fair value.
Equity indices in the Asia-Pacific region began the week on a higher note. Chinese chipmaker CXMT had a strong debut in Shanghai, soaring nearly 500% on its first day of public trading. The approval rating of Japan's Prime Minister Takaichi has fallen below 60% for the first time since she took office. There are some concerns about long-term debt levels and doubts that the big-boned economic plan will deliver promised results. The Bank of Japan is not expected to announce a rate hike later this week, but it is likely to affirm its commitment to more hikes in the coming months. The Monetary Authority of Singapore tightened its policy unexpectedly.
- In economic data:
- China's June Industrial Profit 18.7% YTD (last 18.8%)
- Japan's June Corporate Services Price Index 3.2% yr/yr (last 3.4%). May Leading Index 116.5 (expected 116.8; last 116.1)
- Singapore's June Industrial Production -7.2% m/m (last 6.9%); 7.2% yr/yr (last 17.8%)
- Hong Kong's June trade deficit HKD52.0 bln (last deficit of HKD44.2 bln). June Imports 45.4% m/m (last 42.0%) and Exports 53.4% m/m (last 40.8%)
---Equity Markets---
- Japan's Nikkei: +0.5%
- Hong Kong's Hang Seng: +1.0%
- China's Shanghai Composite: +1.2%
- India's Sensex: +1.0%
- South Korea's Kospi: +1.0%
- Australia's ASX All Ordinaries: +1.4%
Major European indices trade in the green. European Central Bank policymaker Kazimir said that a September rate hike is needed even if the outlook improves. Meanwhile, the Bank of England is expected to hold its bank rate steady on Thursday, but some hawkishness is the central bank's commentary is expected. AstraZeneca beat Q2 earnings expectations while Audi lowered its revenue and margin guidance for the year.
- In economic data:
- Eurozone's June Private Sector Loans 3.0% yr/yr (expected 3.1%; last 3.0%) and loans to nonfinancials 4.0% yr/yr (last 4.0%)
- Germany's July ifo Business Climate Index 86.6 (expected 86.1; last 85.7). July Business Expectations 86.7 (last 84.3) and Current Assessment 86.5 (last 87.0)
- U.K.'s July CBI Distributive Trades Survey -26 (expected -45; last -54)
---Equity Markets---
- STOXX Europe 600: +0.7%
- Germany's DAX: +1.7%
- U.K.'s FTSE 100: +0.4%
- France's CAC 40: +0.9%
- Italy's FTSE MIB: +0.6%
- Spain's IBEX 35: +1.3%
