The big technology companies (XLK) are expected to continue dominating the markets (SPY) (QQQ) thanks to their size, innovations, acquisitions, and investments in 2017.
The Technology Select Sector SPDR ETF (XLK), which tracks technology stocks, has posted gains of about 20% so far in 2017, as of August 8, 2017.
The iShares MSCI All Country World Index ETF (ACWI) tracks the performance of the global market.
The UK’s 2Q17 economic growth surprised the market with a rise of 0.3% as compared to a 0.2% rise in the first quarter of 2017.
The July non-farm payroll report indicated weaker improvement in the US labor market (SPY) (VFINX) as compared to June 2017.
The ADP National Employment Report for July 2017 was released on Thursday, August 3, 2017, and it showed some improvement for private businesses.
According to the US Bureau of Economic Analysis’s estimates, US 2Q17 GDP saw an annualized growth rate of 2.6%.
According to the report provided by Markit Economics, Japan’s manufacturing PMI (EWJ) (DXJ) stood at 52.1 in July 2017 as compared to 52.4 in June 2017.
According to a report by Markit Economics, the final UK manufacturing PMI (purchasing managers’ index) stood at 55.1 in July 2017 as compared to 54.2 in June.
According to a report by Markit Economics, the final Eurozone manufacturing PMI (purchasing managers’ index) stood at 56.6 in July 2017 as compared to the 57.4 in June 2017.
According to a report by Markit Economics, the final Spain Manufacturing PMI stood at 54 in July 2017 as compared to 54.7 in June.
According to data provided by Markit Economics, the final Markit France manufacturing PMI (purchasing managers’ index) stood at 54.9 in July 2017 compared to 54.8 in June 2017.
The final Markit Germany manufacturing PMI (purchasing managers’ index) stood at 58.1 in July 2017 compared to 59.6 in June 2017.
The July US manufacturing PMI (purchasing managers’ index) report indicates a strong improvement in the US (SPY) (QQQ) (VFINX) business climate after a gradual decline.
In this series, we’ll take a look at the final manufacturing PMI for major developed economies such as the United States (QQQ) (IWM), France, Germany, Spain, the Eurozone, Japan, and the UK.
The United Kingdom’s FTSE 100 Index started this week on a stronger note. On August 9, the FTSE 100 Index started the day lower and traded below 7,500.
On Wednesday, the Nikkei opened the day lower and closed at more than two-month lows. Increased tensions with North Korea weighed on the Nikkei Index.
If Friday’s inflation numbers are below expectations, we can expect a further drop in bond yields and the US dollar (UUP).
The Japanese yen closed the week ended August 4 at 110.69 against the US dollar compared to 110.67 for the week ended July 28.
The British pound recorded another multi-month high of 1.3266 against the US dollar before the Bank of England announced its inflation report and interest rate decision on August 3.