U.S. job openings shrank in July, sending a second signal in as many days of a possible economic slowdown. The U.S. trade deficit expanded in July after imports rose faster than exports. The economic data in Europe also confirmed weakening economic activities, and VW raised the prospect of closing plants in negotiations with the workers union.
Market indexes on Wall Street rebounded after a string of positive earnings. U.S. GDP growth in the second quarter was higher than previously estimated. The goods trade deficit expanded to the widest in over two years. The CPI inflation in Germany and Spain eased. Passenger car sales advanced in the European Union.
U.S. major averages lacked direction, and investors awaited the release of Nvidia's earnings. Global market indexes traded sideways, crude oil prices weakened, and the euro eased ahead of the release of the inflation report later in the week. Japanese stocks gyrated amid rate path uncertainties, and China markets continued to drift lower.
The S&P 500 index and the Nasdaq Composite traded below their record highs as investors awaited Nvidia earnings after the close tomorrow. Artificial intelligence-linked stocks were in focus, and investors are hoping that mega-cap tech companies will continue to spend at elevated levels and deploy their AI infrastructure.
NVDA CAVA AAPL
NVDA CAVA AAPL