Morning Pack
Tuesday 4 August 2026 · Market levels captured around 06:04–06:14 BST
Asia-Pacific
| Index | Level | Net | % |
|---|
| Nikkei 225 | 63,609.46 | −145.44 | −0.23% |
| Shanghai | 3,815.589 | +5.926 | +0.16% |
| Shenzhen | 13,817.387 | +369.098 | +2.75% |
| Hang Seng | 25,882.43 | −126.97 | −0.49% |
| ASX 200 | 9,131.60 | +112.30 | +1.25% |
| KOSPI | 6,173.85 | −83.60 | −1.34% |
| STI | 5,626.53 | +14.25 | +0.25% |
| NZX 50 | 13,903.46 | +128.53 | +0.93% |
US close
| Index | Close | Net | % |
|---|
| Dow | 53,178.41 | +693.38 | +1.32% |
| Nasdaq | 25,913.896 | +540.043 | +2.13% |
| S&P 500 | 7,600.50 | +110.78 | +1.48% |
| Russell 2000 | 2,981.908 | +50.569 | +1.73% |
| VIX | 15.86 | −0.13 | −0.81% |
US futures
| Contract | Last | Day | Implied open |
|---|
| Dow futures | 53,463.0 | +129.0 (+0.24%) | +54.59 (+0.10%) |
| S&P futures | 7,644.75 | +16.50 (+0.22%) | −3.75 (−0.05%) |
| Nasdaq futures | 29,006.0 | +114.25 (+0.40%) | +4.20 (+0.01%) |
| Russell futures | 2,991.7 | +2.40 (+0.08%) | −6.21 (−0.21%) |
US Treasuries
| Maturity | Yield | Change |
|---|
| 2-year | 4.258% | +0.002 |
| 5-year | 4.408% | +0.010 |
| 10-year | 4.696% | +0.012 |
| 30-year | 5.244% | +0.015 |
Yield changes shown in percentage points, equivalent to roughly +0.2 bp, +1.0 bp, +1.2 bp and +1.5 bp.
FX
| Pair | Price | Net | % |
|---|
| USD/JPY | 157.54 | +0.38 | +0.24% |
| EUR/USD | 1.1507 | UNCH | UNCH |
| GBP/USD | 1.3421 | −0.0007 | −0.0521% |
| USD/CHF | 0.8103 | +0.0004 | +0.0494% |
Commodities
| Market | Price | Net | % |
|---|
| WTI Sep | 81.25 | +0.91 | +1.13% |
| Brent Oct | 85.00 | +1.23 | +1.47% |
| Natural gas Sep | 2.774 | −0.007 | −0.25% |
| Gold | 4,058.61 | +5.65 | +0.14% |
Today’s calendar — GMT
| Time | Cur. | Event | Forecast | Previous |
|---|
| 12:30 | USD | Exports (Jun) | — | 317.70B |
| 12:30 | USD | Imports (Jun) | — | 395.30B |
| 12:30 | USD | Trade balance (Jun) | −73.00B | −77.60B |
| 14:00 | USD | Factory orders MoM (Jun) | 0.2% | −1.3% |
| 14:00 | USD | JOLTS job openings (Jun) | 7.440M | 7.594M |
| 15:30 | USD | Atlanta Fed GDPNow Q3 | 6.2% | 6.2% |
| 20:30 | USD | API weekly crude-oil stocks | — | 3.296M |
Market commentary
Wall Street begins the session from a position of strength after a broad rally led by technology and small caps. Futures remain positive, but the fair-value picture is more restrained than the headline futures gains suggest, particularly for the S&P 500 and Russell 2000.
Asia is mixed. Chinese mainland indices and Australia are higher, while Japan and Korea lag. The yen has weakened modestly this morning after the recent intervention-driven volatility, leaving USD/JPY back above 157.
Treasury yields are edging higher across the curve, with the long end still elevated: the 10-year is near 4.70% and the 30-year above 5.24%. That keeps duration-sensitive equities exposed even as AI-related earnings continue to support risk appetite.
Today’s US data focus is the trade balance, factory orders and JOLTS. A weaker-than-expected openings figure would reinforce cooling-labour-market expectations, while a stronger print could revive rate concerns. Oil has rebounded, but geopolitical headlines around Iran remain the main near-term catalyst.
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