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DAILY MARKET REPORT

“Our whole role in life is to give you something you didn’t know you wanted. And then once you get it, you can’t imagine your life without it. And you can count on Apple doing that.” -Tim Cook, Apple CEO.

DAILY MARKET REPORT

Apple (NASDAQ: AAPL) will release its third-quarter fiscal 2021 financial results on Tuesday, July 27, after market close. Wall Street expects Apple to earn $1.01 per share on revenue of $73.8 billion.

$AAPL key technical levels to watch today:

Support: $146 and $138

Resistance: $152 and $1155

EQUITIES

Asian and European shares traded lower on Tuesday ahead of US Federal Reserve's two-day policy meeting. Meanwhile, the US Indices Dow Jones, Nasdaq 100, and S&P 500 retreated reaching a record high during the previous session.

On the earnings front, the tech giants Microsoft, Apple, Alphabet and AMD are amongst those reporting the last quarter financial results today.

OIL

Crude oil prices struggling to hold the early session gains as the investors remain concerned about the economic slowdown, due to the fast-spreading Delta variant of the coronavirus.

CURRENCIES

In the currency market, the US dollar index recovered from the previous session losses. At the time of writing, the Index trades steady above 92.70 level. On the other hand, the euro and the British pound dipped against the US dollar.

GOLD

The precious metal remains under pressure ahead of the FED meeting as the traders waiting for the central bank’s view of the economic outlook as well as clues about future tapering. At the time of writing, the metal hovers near the key support area $1790.

Economic Outlook

On Monday, the U.S. Commerce Department released the latest new home sales data. The data showed the new house sales in the US were down 6.6% to a seasonally adjusted annual rate of 676K in June of 2021.

Moving ahead today, the important events to watch:

US – Durable goods orders: GMT – 12.30

US – CB consumer confidence: GMT – 14.00

Coronavirus update:

Worldwide, more than 194 million people have been confirmed infected and more than 4.1 million have died. The United States has confirmed over 34.5 million cases and has had more than 610,000 deaths from COVID-19, the highest totals in the world.

Technical Outlook

EURUSD: Technically the overall trend still looks bearish after the pair failed to hold above 1.1800 and the short-term support is still around 1.1750. If the pair breaks and closes below 1.1750 the next important support at 1.1710/1.1670.

eurusd

The important levels to watch for today: Support- 1.1750 and 1.1730 Resistance- 1.1800 and 1.1820.

GOLD: For today the first support for the Gold appears to be around $1788, in the short-term any break below $1788 the next downside level to watch $1785/80. On the other upper side, the immediate resistance around $1805 any break and close above this level will open $1810 then $1815.

gold neww

The important levels to watch for today: Support- 1788 and 1780 Resistance- 1805 and 1810.

Quote of the day: “All intelligent investing is value investing — acquiring more that you are paying for. You must value the business in order to value the stock.” – Charlie Munger.

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DAILY MARKET REPORT

DAILY MARKET REPORT

GAP shares rose more than 8% in extended trading after the company reported stronger-than-expected Q2 results and the stock climbed 30% in 2021.

DAILY MARKET REPORT

DAILY MARKET REPORT

US dollar investors focus now shifts to the second reading of the second-quarter US GDP numbers, which is set to be released later today.

DAILY MARKET REPORT

DAILY MARKET REPORT

Online vacation rental site Airbnb (NASDAQ: ABNB) shares soared 10% on Tuesday after the company opened the doors of its properties to 20,000 Afghan refugees globally.

DAILY MARKET REPORT

DAILY MARKET REPORT

Pfizer (NYSE: PFE) stock closed 2.48% higher on Monday after the FDA announced its full approval of the Pfizer-BioNTech COVID-19 vaccine.