Europe Markets Rise & American Markets Slide – Daily Financial News Summary For Tuesday, July 28, 2020

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Editor’s Note: Due to issues with the Call Put Strike Podcast hosting service, we are not hosting the daily podcast today. Many of you may have noticed issues with truncated episodes last week and we apologize for the inconvenience it may have caused.

The S&P 500 saw itself down 0.65% on Tuesday with the Dow Jones down 0.77% and the Nasdaq running itself 1.27% lower into the close of markets to finish out a tough day of trading. Meanwhile in Europe, the Stoxx Europe 600 Index added 0.4%. The yield on 10-year Treasuries declined four basis points to 0.58%.

Gold continued to rise and topped $1,950 per ounce today, meanwhile the dollar is continuing to slump and you can read a more in depth story on this here: Gold Touches Record High as U.S. Dollar Sinks to 22-Month Lows

Tech giants are set to sit on Capitol Hill tomorrow amid concerns of anti-competitive practices, which may be influencing the drop in stocks, alongside the potential earnings results set for the rest of the week. As a result, Amazon slid 1.8%, followed by Alphabet down 1.7%, Apple was 1.6%, Facebook fell 1.5%, while Netflix went down 1.4%.

Earnings include Rio Tinto and Barclays on Wednesday; Thursday brings Apple,, Alphabet, L’Oreal, Credit Suisse and Samsung; Chevron and Caterpillar are set for Friday. Additionally, the U.S. second-quarter GDP is expected on Thursday.

At this time, more than 4.2 million infections have been confirmed along with at least 147,303 deaths in the U.S., according to Johns Hopkins University.

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