U.S. indices closed under pressure despite a positive opening to the trading session.

MARKET WRAP

Market Wrap: Stocks, Bonds, Commodities

On Thursday, U.S. indices closed under pressure despite a positive opening to the trading session.

• S&P 500:Declined 60 points (-1.35%) to 4,376

• Nasdaq 100:Slid 332 points (-2.19%) to 14,816

• Dow Jones Industrial Average:Dropped 374 points (-1.08%) to 34,099

Investors are keenly awaiting Federal Reserve Chairman Jerome Powell's speechat the Jackson Hole Symposium later today.

Sectors Performance:

The following sectors underperformed the most during the trading session:

• Automobiles & Components:-2.69%

• Technology Hardware & Equipment:-2.43%

• Media:-2.22%

Stock Highlights:

• Boeing (BA):Declined 4.93% after disclosing an issue affecting its 737 Max.

• Nvidia (NVDA):Relatively unchanged at $471.63 despite robust second-quarter figures and a positive third-quarter revenue forecast.

• Splunk (SPLK):Jumped 12.91% as quarterly earnings smashed estimates. The company also raised its full-year guidance.

• Snowflake (SNOW):Fell 5.16% despite beating estimates in second-quarter earnings.

• Autodesk (ADSK):Rose 2.07% after lifting its full-year revenue forecast.

• Analog Devices (ADI):Fell 2.14% after being downgraded to “neutral” from “overweight” at Piper Sandler.

• Prudential Financial (PRU):Rose 2.18% after being upgraded to “strong buy” from “market perform” at Raymond James.

U.S. Economic Data:

• Durable goods orders fell 5.2% month over month in July, against an anticipated growth of 0.5%.

• The Chicago Fed National Activity Index rose to 0.12 in July, against a forecast of -0.40, and compared to -0.33 in June.

• Initial jobless claims for the week ended August 19 were released at 230,000, below the anticipated 242,000.

Other Market Metrics:

• The U.S. 10-year Treasury Yield rebounded 4.7 basis points to 4.239%.

• European stocks were mixed, with the Dax 40 falling 0.68%, the Cac 40 sliding 0.44%, and the FTSE 100 gaining 0.18%.

• WTI Crude Futures (October) gained $0.16 to $79.05, halting a 3-day decline.

• Spot gold edged up 0.1% to $1,917.

Market Wrap: Forex

• The U.S. dollar indexrose 0.5% to 103.99, ahead of the Fed Chairman Powell's speech at the Jackson Hole Symposium later in the day.

• EUR/USDdropped 55 pips to 1.0808.

• GBP/USDslid 129 pips to 1.2598.

• USD/JPYgained 100 pips to 145.84, and USD/CHFadded 65 pips to 0.8845.

• AUD/USDlost 66 pips to 0.6414, while USD/CADclimbed 61 pips to 1.3587.

• Bitcoinretreated 2.2% to $26,045.

Currency and Indices Outlook:

Please note that due to market volatility, some of the key levels may have already been reached and scenarios played out.

EUR/USD Intraday: The downside prevails.

• Pivot:1.0820

• Preference:Short positions below 1.0820 with targets at 1.0760 & 1.0740 in extension.

• Alternative scenario:Above 1.0820 look for further upside with 1.0840 & 1.0855 as targets.

• Comment:The RSI is bearish and calls for further decline.

• 

GBP/USD Intraday: 1.2500 in sight.

• Pivot:1.2620

• Preference:Short positions below 1.2620 with targets at 1.2540 & 1.2500 in extension.

• Alternative scenario:Above 1.2620 look for further upside with 1.2655 & 1.2690 as targets.

• Comment:The RSI has broken down its 30 levels.

  

USD/JPY Intraday: bullish bias above 145.70.

• Pivot:145.70

• Preference:Long positions above 145.70 with targets at 146.35 & 146.70 in extension.

• Alternative scenario:Below 145.70 look for further downside with 145.40 & 145.20 as targets.

• Comment:The RSI calls for a bounce.

• 

Dow Jones (CME) Intraday: under pressure.

• Pivot:34345.00

• Preference:Short positions below 34345.00 with targets at 34060.00 & 33910.00 in extension.

• Alternative scenario:Above 34345.00 look for further upside with 34490.00 & 34630.00 as targets.

• Comment:The RSI has broken down its 30 levels.

•