Daily Summary: Wall Street in Bullish Moods During The Earning Season

• Wall Street is seeing positive gains due to heightened investor anticipation around the quarterly earnings season for businesses.

• The S&P 500 has risen by 0.25% to 4565 points, while the Russell 2000 has jumped by 1.30%. In contrast, the Nasdaq 100 is stable, trading at 15845 points. These Wall Street index trends continue to showcase year-high records.

• Stocks for Apple are reaching unprecedented peaks after their announcement of a groundbreaking new artificial intelligence model. The tech giant is currently shaping its strategy around this model, which is currently used internally. With these developments, Apple's market valuation stands at a whopping $3.06 trillion today.

• Data from the real estate sector, including housing starts and building permits, shows a slightly weaker state in the American real estate market, which is associated with higher rates.

• The report from the Energy Information Administration (EIA) reveals that the change in oil inventories was -0.71 million barrels, which is less than the expected -2.2 million barrels and significantly lower than the previous result of 5.95 million barrels.

• Inflation in the UK dropped to 7.9% YoY for June, with an expectation of 8.2% YoY and a previous level of 8.7% YoY.

• Goldman Sachs announced its results for the second quarter of 2023, which did not meet expectations. Its profits dropped to $1.07 billion or $3.08 per share, compared to $2.79 billion or $7.73 per share in the same period last year.

• Goldman Sachs' results were anticipated after other banks published good results, with the investment segment being the weakest (Goldman Sachs' main area).

• Car sales in Europe continue their upward trend. According to the European Automobile Manufacturers' Association, new vehicle registrations increased by 19% to 1.27 million vehicles in June, with electric cars accounting for 55% of the growth. Diesel cars, on the other hand, experienced a decline of nearly 10%.

• Shares of Kering (KER.FR), the owner of Gucci, Yves Saint Laurent, and Balenciaga, are gaining over 6.5% at the beginning of the session following the resignation of the company's CEO. This change is intended to revitalize the Group's businesses.

• Today, the Canadian dollar (CAD) is one of the stronger currencies, but the US dollar is also gaining. The EURUSD pair is falling below the 1.12 level.

• Energy commodities are gaining today, with LSGASOIL leading the increases with a 1.8% gain. Brent oil contracts are trading slightly above $80 per barrel.

• Cryptocurrencies are trading flat, with BTC holding just below the $30,000 level and ETH at $1,900. However, XRP is gaining momentum again, with its price rising to around $0.80 cents.