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Energy, Tech, and Chip sectors are down-All three major US indices closing in the red


Last Week Risers & Fallers:

Moderna (NASDAQ: MRNA) share price increased by 24.22% last week and closed at $286.43 per share. Moderna’s stock rose to a record high, amplified due to warnings issued by the FDA to J&J for their Covid-19 vaccination’s link to an autoimmune disease.  It’s been a good week for Moderna, with news that it’s to be listed on the S&P 500 on 21 July.

USDCAD gained 1.3% this week. The USD was strong this week after higher-than-expected core retail sales data. It was also spurred by the Fed’s decision to keep the interest rates unchanged.

Tesla (NASDAQ:  TSLA) stock price slipped by 2.81% – Tesla prices are pulling back to  the major support zone. 

Nvidia (NASDAQ: NVDA)  price fell by 4.25% on Friday, closing at $726.44 per share. Regulators seem to be challenging their ARM Holdings acquisition. In addition, Intel is in talks to buy Advanced Micro Devices’ production division, Global Foundries, which, if the deal goes through, could make Intel a significant player in the contract chip manufacturing market.

Major events to watch:

USA (USD): Building permits Monday 19 July at 14:30 GMT+2 indicates the change in the number of new building permits issued. Its an indicator of the housing market’s demand. The last data reported in June was lower-than-expected, at 1.681M.

Europe (EU): European Central Bank (ECB) interest rate decision to be released Thursday 22 July at 13:45 GMT+2.  The current rate is set at 0.00%, as per forecast.

UK (GBP): Retail Sales (MoM), to be released Friday 23 July at 08:00 GMT+2., measures the change in total inflation-adjusted retail sales. It’s, therefore, an indicator of consumer spending. The last report was -1.4%, lower than the forecasted 1.6%.

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