Investinglive Americas FX news wrap 4 Aug. US stocks nearly erase the employment tumble ...Middle East

US stocks close near session highs. Nasdaq back above 100 hour MAFed's Daly comments - be careful of the narratives pundits are choosingFed's Daly says two FOMC rate cuts in 2025 seem appropriateDoubleline Gundlach: My base case is still two Fed rate cuts this yearCrude oil settles at $66.29Indian Foreign minister: The targeting of India is unjustified and unreasonableEuropean indices rebound. Major indices bounce back after sharp declines last weekTrump to raise tariffs on IndiaUS factory orders for June -4.8% versus -4.8% estimateSwiss government says is not considering any countermeasures against the USThe US dollars little changed after the Friday fireworks from nonfarm payroll/TrumpNEC Hassett: The data has been very unreliableinvestingLive European markets wrap: Calm after the storm"Buy the dip", says Morgan Stanley

For the S&P index. it closed last Thursday at 6339.39. The bloc closing level today was 6329.94. The S&P index also closed just under its 100 hour moving average tomorrow will be a key day for the technical bias in both the S&P and NASDAQ indices.

In the US debt market, yields were lower across the curve as the markets continue to anticipate a rate cut in September, and another one by the end of the year.

2-year yield 3.677%, -2.7 basis points.5 year yield 3.741%, -3.0 basis points10 year yield 4.196%, minus to get for basis points30 year yield 4.793%, -1.4 basis points

Crude oil fell $1.11 at $66.22Gold prices rose $11.42 or 0.34% and $3374.09 as it reacts to the lower yields.Silver rose $0.40 or 1.08% to $37.41Bitcoin rose $700 to level of $114,928

Factory orders today came in as expected at -4.8%. That comes after a oversized gain of 8.3% last month.

San Francisco Fed President Mary Daly expressed confidence in the Fed's July decision to hold rates steady but signaled discomfort with repeating that stance indefinitely. She noted no signs of persistent inflation or lasting tariff effects but acknowledged the labor market is softening, which could become problematic. Daly emphasized that future policy decisions will be made meeting-by-meeting and that all options remain on the table. While she sees two rate cuts this year as a reasonable recalibration, she also warned the Fed might need to do more than that, depending on how the data evolves. HMMM, does not rule out more than two cuts. So you say there's is a chance?

This article was written by Greg Michalowski at investinglive.com.

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