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S&P500, Dow Jones reaches record highs, and Disney stock outperforms expectations

  

Last Week Risers & Fallers:

Disney Inc. (NYSE: DIS) share price closed at $181.08 per share. The stocks climbed 4% in after-hours trading after Disney reported surprising Q3 earnings, exceeding Wall Street’s expectations.

S&P 500 closed at a record high of 4468; the most significant push came from the consumer staples and utilities sector companies like Tyson Foods 2.3%, NRG Energy1.3%, and eBay 7.4%.

US WTI oil was down at $68.03 per barrel. Since the high in July, oil prices took a tumble as demand started to slow down due to fear of surging Covid-19 infections.

GBPUSD gained 0.48% against the US dollar and is currently trading at 1.38740. The US dollar has been flat this week against majors; in addition, consumer confidence numbers was lowest in the last decade, which weakened the dollar. 

Major events to watch:

USA (USD): Core Retail Sales – Tuesday 17 August at 14:30 GMT+2. Core retail sales is an indicator of consumer spending, excluding automobiles sales. Last month’s reading was 1.3%, far above the 0.4% forecast.

UK (GBP): CPI Consumer price index – Wednesday 18 August at 08:00 GMT+2, is an indicator of the inflation rate and measures the change of prices of goods and services. Last month was 2.5%, above the 2.2% forecast.

Australia (AUD): Employment Change – Thursday 19 August at 03:00 GMT+2, measures the change in the number of employed people for the last month. July’s number was 29.1K, slightly below the forecast of 30K.


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