Global Markets:
- Asian Stock Markets : Nikkei down 1.16%, Shanghai Composite down 0.59% Hang Seng down 0.01% ASX down 0.14%
- Commodities : Gold at $4,121.67 (0.36%) Silver at $58.415 (1.09%), Brent Oil at 83.48 (-5.06%), WTI Oil at 79.77 (-5.97%)
- Rates : US 10-year yield at 4.697, UK 10-year yield at 5.0496, Germany 10-year yield at 3.2036
News & Data:
- (CAD) GDP m/m 0.3% to 0.2% expected
Markets Update:
U.S. stock futures moved higher on Sunday as investors prepared for a busy week featuring the July employment report and another round of corporate earnings. Dow Jones futures gained 0.4%, while S&P 500 and Nasdaq-100 futures rose 0.5% and 0.8%, respectively.
Asian markets traded lower, with Japan’s Nikkei 225 and Topix falling more than 1%. South Korea’s Kospi dropped 4.6% at the open, while Australia’s S&P/ASX 200 also slipped.
Oil prices declined after President Donald Trump said he had canceled a planned strike on Iran, easing concerns over potential supply disruptions. Brent crude fell to $84.41 a barrel, while West Texas Intermediate dropped to $81.18.
Wall Street ended Friday on a strong note, with the Dow, S&P 500 and Nasdaq posting gains and finishing near record highs. However, investors are questioning whether the rally can continue, despite solid Big Tech earnings. Analysts note growing concerns over rising AI-related capital spending, with markets seeking clearer evidence that heavy investments will translate into stronger profits.
This week’s earnings calendar includes McDonald’s, Kraft Heinz, Costco, Walt Disney, Palantir and Advanced Micro Devices. Investors will also closely monitor U.S. labor market data, with economists expecting July nonfarm payrolls to increase by 87,500 and the unemployment rate to edge up to 4.3%.
Meanwhile, Alibaba surged 6% after unveiling its flagship AI model, Qwen3.8-Max, with open-weight access scheduled for release next week.
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