While Olympians have been breaking records in Rio, U.S. stocks have been hitting new highs in New York.
Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:
1. USD crashes to 8-week lows
1. USD crashes to 8-week lows
The U.S. dollar crashed to the lowest level in nearly eight weeks on Tuesday, as the market adjusted to a view that the Federal Reserve will leave interest rates unchanged for the rest of the year.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, sank to 94.76, a level not seen since June 24. It was last at 94.80 by 09:55GMT, down 0.85% on the day.
Fed funds futures are currently pricing in just a 9% chance of a rate hike by September. December odds were at around 42% as a recent string of unexpectedly weak economic data led investors to push back expectations for the next U.S. rate hike.
2. Stock market overview
2. Stock market overview
Just in case you missed it - every major U.S. stock index hit a fresh record high on Monday.
Since the start of the year, the Dow Jones industrial average, S&P 500 and Nasdaq have all surged by 5% to 7%.
But now U.S. stock futures are slipping a tad and international markets are displaying some weakness.
European markets are declining in early trading, while most Asian markets are closing the day with losses.
3. Apple updates
3. Apple updates
Shares in Apple are in the spotlight after Warren Buffett's firm Berkshire Hathway disclosed that it bought another big slice of the company.
A regulatory filing on Monday revealed that the investment conglomerate increased its Apple stake by 55% over the course of three months. It owned 15.2 million Apple shares at the end of June, or nearly $1.5 billion worth.
Premarket trading volume in Apple shares is higher than normal ahead of the opening bell and shares are edging up a tad.
4. Economics
4. Economics
The GBP shot up by about half a penny to trade at $1.30 after new inflation data was released.
Inflation edged up by 0.6% in July compared to the same time last year, a slightly faster pace than was expected. Higher prices were fueled by increased import costs following the pound's Brexit-induced slide.
In the U.S., the Bureau of Labor Statistics will post its own inflation data at 12:30 GMT.
The U.S. Census Bureau will issue its July report on housing starts and building permits at the same time, giving insight into general housing demand in the States.
