In other news...
Under the terms of the deal, the U.S., European Union and United Nations will lift economic sanctions against Iran’s energy and financial sectors imposed since 2012 in exchange for the country’s acceptance of limits on its nuclear activities for 10 years intended to keep it at least 12 months way from developing a nuclear bomb.
⛽ U.S. and global oil benchmarks ended higher after a topsy-turvy session in the wake of overnight news that Iran reached a nuclear agreement with world powers that could usher its ultimate return to international crude markets.
πΊπΈ U.S. stocks rose, pushing the Dow industrials index back above 18,000 for the first time in three weeks as corporate earnings started to play a slightly bigger role .
* J.P. Morgan Chase said its second-quarter profit rose 5.2% as earnings and revenue beat expectations.
* J.P. Morgan Chase said its second-quarter profit rose 5.2% as earnings and revenue beat expectations.
πΊπΈ The White House said it sees U.S. economic growth rising by just 2% this year before rebounding to 2.9% in 2016—down from its earlier forecast of 3% growth for both 2015 and 2016 released in February—after the economy stalled during the first quarter.
€ European equities finished higher on hopes that the Greek parliament will be able to pass the legislation needed to get a third bailout. Also, another positive news on the German Jul ZEW survey of investor confidence fell less than expected.
π―π΅ Japan's Nikkei Stock Index up +1.47% at a 1-week high as extra fillip from a weaker currency as the yenweakened to 123.72 per dollar, a twelve-day low.
π¨π³ Shanghai Composite down -1.16% after tumbling as much as 3% in the afternoon. Mainland equities swung between gains and losses throughout the session as investors adopt a 'wait-and-see' approach to judge whether sentiment has stabilized following weeks of panic selling.
π¨π³ China scrapped the quotas that limited investments from foreign central banks, sovereign-wealth funds and other big financial institutions in the country’s $6.
⛽China is set to release its second-quarter GDP figures today. There are some signs that the economy has started to stabilize.
π Gold reversed gains as the U.S. dollar came off its lows and the market awaited Federal Reserve Chair Janet Yellen's semi-annual testimony to Congress on Wednesday and Thursday, which may provide more signals about a looming rate rise.
π΄ FCPO (RM2,201) extended gains to a 1-week high. Buying was encouraged by higher CBT Soyoil and China Dalian futures. Gains were checked by sharp fall in crude mineral oil and rumours of lower 1-15 July exports. The pull back from low may keep prices in a 2150 to 2250 range.
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