Global equities advance as U.S. oil falls 6.19% to 80.20
NEW YORK, Aug. 2. Global equities gained across major benchmarks in weekend trading, with the Nasdaq rising 0.77% to 28,384 and the Dow Jones Industrial Average adding 0.46% to 52,613, while U.S. crude oil fell 6.19% to 80.20. The oil decline ran counter to gold, which gained 0.57% to 4,066, making crude's drop the session's defining move by percentage.
Key takeaways
- Global equities advanced across all five reported benchmarks in Aug. 2 weekend trading, led by the Nasdaq's 0.77% rise to 28,384.
- U.S. crude oil fell 6.19% to 80.20, the session's largest percentage move and the widest swing of any asset class in the data.
- Oil's decline ran counter to gold, which gained 0.57% to 4,066, leaving commodity markets without a single directional read.
- The Hang Seng Index was the weakest equity performer, edging 0.04% higher to 25,964.
- The euro gained 0.16% against the dollar to 1.1548, one of the session's smaller percentage changes.
NEW YORK, Aug. 2. Global equities gained across major benchmarks in weekend trading, with the Nasdaq rising 0.77% to 28,384 and the Dow Jones Industrial Average adding 0.46% to 52,613, while U.S. crude oil fell 6.19% to 80.20. The oil decline ran counter to gold, which gained 0.57% to 4,066, making crude's drop the session's defining move by percentage.
Equity benchmarks post broad gains
Germany's DAX rose 0.62% to 25,797, the second-largest equity advance in the data behind the Nasdaq. London's FTSE climbed 0.36% to 10,895. All five benchmarks in the data finished higher.
The Hang Seng Index was the weakest performer. Hong Kong's benchmark edged 0.04% higher to 25,964. That gain placed it 0.73 percentage points below the Nasdaq's advance, the widest spread between any two equity indexes reported.
Among the Dow, DAX, and FTSE, the DAX led at 0.62%, followed by the Dow at 0.46% and the FTSE at 0.36%. All three came in between the Nasdaq's 0.77% and the Hang Seng's 0.04%.
Oil's 6.19% decline reshapes the commodity picture
U.S. crude fell to 80.20, a drop of 6.19%. Short sentence. Then the wider frame: that percentage move was roughly ten times larger than any single equity-index change in the session, and the widest swing of any asset class in the data.
Gold rose 0.57% to 4,066 as oil fell. Silver edged down 0.07% to 5,757. Oil and gold moved in opposite directions, leaving commodity markets without a single directional read for the session.
EUR/USD ticks to 1.1548
The euro gained 0.16% against the dollar to 1.1548. The move was among the session's smaller percentage changes, comparable in scale to silver's 0.07% slip and well below oil's 6.19% decline.