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A moment ago we got the Q2 results for the US banking outfit, Morgan Stanley (MS). They beat on analyst forecasts and by some margin too. However a little earlier we had the same Q2 results from Bank of America and those were not so impressive. Their revenue and EPS only marginally best on forecasts, but MS certainly did. That said the S+P 500 futures are barely changed right now, as both these kind of cancel each other out. Also to note; shortly at 12.30pm GMT we get the latest US retail sales data covering the month of June. Sales are forecast to fall back last month, by around 0.3%, compared to just a 0.1% gain in May. This data could have more of an impact on the US stock market opening outlook, when it breaks across the screens- we shall see. Meantime, the S+P 500, which closed yesterday at 5,631.22, is currently priced to reopen around 5,640
The US stock markets have just reopened and it has been an across the board lower start to the session. The Nasdaq 100 has just kicked off at 19,657...
Since the last update here on Gold, the metal has now tested and taken out the noted trend line resistance level, in place around $3,029 per ounce...
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