Market Wrap US-Europe 30 July: Microsoft Leads a 2.8 Percent Nasdaq Rebound [0b3Ma2cCiD1]
Market Wrap US-Europe 30 July: Microsoft Leads a 2.8 Percent Nasdaq Rebound US stocks rebounded sharply on Thursday, led by Microsoft and a surge in chip shares, recovering the ground lost after Wednesday's divided Fed hold. The dollar slid and volatility collapsed, while Europe closed mostly higher and oil eased. 📌 Nasdaq jumped 2.78 percent to 25,122.18, the S&P 500 rose 1.66 percent and the Dow added 1.19 percent 📌 Microsoft surged 15.51 percent on earnings and the Philadelphia Semiconductor Index leapt 8.19 percent, a megacap led rally 📌 Europe firmed with the Euro Stoxx 50 up 1.53 percent, CAC 40 up 0.92 percent and DAX up 0.60 percent, FTSE 100 the laggard 📌 The dollar index fell and the VIX tumbled 17.38 percent, while gold rose 1.80 percent to 4,170.70 dollars 📌 Brent eased 1.79 percent to 89.12 dollars as part of the security premium came out of prices 📍 Why it matters: A weaker dollar lifts the value of the Gulf's gold reserves and supports non-oil exports, but for the dollar pegged Gulf it raises the local cost of euro and yen priced imports. Gulf policy rates track the Fed through the peg, while higher Treasury yields bite mainly through financing costs. Oil near 89 dollars keeps the revenue backdrop supportive. 🔗 Full analysis: 📩 Newsletter: 🌐 Quick links: 📱 WhatsApp channel (Copy & paste in your own browser to open): #USMarkets #Nasdaq #Europe #Gold #Gulf #short