S&P500: Futures in negative but the rally continues; the dollar rises for the third day

• Wall Street futures in red, European markets in green.
• The dollar appreciates again, in weekly maximums.
• Metals remain under pressure, XAU/USD tests levels near $1770.

While markets in Europe are rising, futures in the US point to a negative open with moderate losses. The dollar continues to advance while metals are under pressure.

The rally is still healthy

Stocks in the US are on the positive side and are currently on track for their fifth straight weekly gain. Major stock indices are at highs since May. The Dow-Jones It gained 0.45% on Monday, closing above the 200-day moving average. In Tuesday’s preview, futures for the S&P falls 0.22% and those of the Nasdaq lose 0.18%. In London, the FTSE100 gains 0.57%, in Frankfurt the DAX rises 0.59% and in Paris the CAC 40 climbs 0.34%.

The rally still looks healthy, although very prolonged with increasing risks. The latest boost came on the side of data showing that inflation may have peaked in the US On Tuesday Europe saw a drop to new lows in the ZEW index for the Eurozone and Germany. In the United Kingdom, an increase in jobs of 160,000 was known in the three months to June, below the 268,000 expected; while the unemployment rate remained at 3.8%. In the US, data on industrial production and housing starts will be published, and in Canada on the Consumer Price Index for July. The Federal Reserve minutes will be released on Wednesday.

Among the companies that will present results on Tuesday are Home Depot, Agilent and Target. Walmart reported sales rose more than 8% but profits were down in the second quarter; the figures exceeded expectations and in the premarket the shares rose 3.45%.

The dollar is rising on almost every front on Tuesday. The DXY It is on its way to testing the monthly maximum and is appreciated for the third day in a row. EUR/USD is near August low below 1.0130, GBP/USD near 1.2000 and USD/JPY at six-day highs above 134.00. The advance of the dollar also occurs against those of emerging markets.

The prices of Petroleum are rebounding after Monday’s sharp drop. The barrel of WTI managed to hold on to the lows of August, but if it were to give up the $87.00 zone, the downward pressure would increase.

The metals they keep going backwards. The Prayed is testing daily lows at $1773 and the silver you are about to lose $20.00. The cryptocurrencies up modestly overall on Tuesday. BitCoin is struggling to hold above $24,000, following the rejection above $25,000.

The treasury bond yields they are rising modestly on Tuesday, with the 10-year rate at 2.80, the 30-year rate at 3.10%; both sections very far from the recent peak.

Technical levels