Tuesday;s Markets Update (6 August, 2024)

07 Aug 2024 by rate3

On Tuesday, major stock indexes rebounded, but didn't close the Monday's gap, after precipitant decline in previous days. Investors cheered strong earnings from tech and industrial giants like Palantir, Uber, and Caterpillar. Internationally, Japanese stocks also soared, boosting market sentiment. BTC and ETH tried to recover a bit after their spectacular crash gaining 2-3%.

Details

Consumer optimism edged up in August but remains low overall. While views on the next six months improved, confidence in personal finances and government policies dipped. Investor optimism fell, contrasting with rising sentiment among non-investors. 1Y trend: "Side" (Tech)
Logistics sector continues to expand, driven by transportation recovery. Transport prices surged, outpacing capacity for the third month, signaling a potential end to the freight recession. Warehousing remains strong, but inventory levels are declining as retailers lean out while others build up stock for anticipated demand. 1Y trend: "Up" (LMI)

World Markets

Eurozone retail sales dropped 0.3% in June compared to the previous year. Sales have been volatile, hitting a peak in 2021 and a record low during the pandemic. (EuroStat)