Market Information Thursday 25 July 2024

The US stock markets closed significantly lower on Wednesday, influenced by disappointing results from major tech companies. Although the earnings season started strong, with many companies surpassing profit expectations, concerns arose due to a discrepancy between predicted profit growth and economic growth. Weak purchasing managers’ data and declining home sales further pressured sentiment.

Oil prices rose on Wednesday due to a larger-than-expected decline in US crude oil inventories and risks posed by wildfires in Alberta, Canada. Gasoline and diesel inventories also decreased significantly. This led to a 0.8% increase in the price of a barrel of West Texas Intermediate, reaching $77.59.

Economic growth of the eurozone significantly slowed in July, with declining purchasing managers’ indices for both the service and manufacturing sectors. The composite index barely stayed above 50, indicating very limited growth. Experts consider an interest rate cut in September likely, although rising input prices remain a concern.

The 6M Euribor is unchanged at 3.64% compared to previous business day. The 10Y Swap increased with 1 basis point to 2.72% compared to previous business day.

In the attachment, today’s market data on money and capital market rates as well as other rates are presented.