<p>The major stock indices are closing the day with mixed results:</p><ul><li>Dow industrial average rose 76.63 points or 0.23% at 32803.48</li><li>S&P index fell -6.75 points at -0.16% at 4145.18</li><li>NASDAQ index fell -63.02 points at -0.50% at 12657.56</li><li>Russell 2000 gain 15.36 points or 0.81% at 1921.82</li></ul><p>The NASDAQ index snapped a two day winning streak. Each of the indices fell 3 days and gain on two day’s to start the trading month. </p><p>For the week:</p><ul><li>Dow industrial average fell -0.13%</li><li>S&P index rose 0.36%</li><li>NASDAQ index rose 2.15%</li></ul><p>Looking at the Dow 30, the biggest gainers were:</p><ul><li>J.P. Morgan, +3.03%</li><li>Chevron, +1.51%</li><li>Verizon, +1.17%</li><li>Visa, +1.08%</li><li>Caterpillar +0.95%</li></ul><p>The biggest losers in the Dow included:</p><ul><li>Disney -1.41%</li><li>Boeing -0.91%</li><li>Cisco -0.82%</li><li>Intel -0.76%</li><li>Salesforce -0.59%</li></ul><p>Other big gainers today included a number of the meme stocks:</p><ul><li>bed Bath and beyond +32.68%</li><li>beyond meat +21.89%</li><li>AMC +18.97%</li><li>Lyft +16.62%</li><li>Goodrx, +6.8%</li><li>Game Stop +4.17%</li></ul><p>Some big losers today included:</p><ul><li>Celsius, -9.03%</li><li>Tesla -6.63%</li><li>Western Digital -5.65%</li><li>Alibaba, -4.99%</li><li>Robin Hood -4.41%</li><li>Paramount global -4.15%</li><li>Moderna -3.78%</li></ul>

This article was written by Greg Michalowski at www.forexlive.com.

<ul><li>In US consumer credit rose $40.15B vs 25.0B est</li><li>revolving credit increased by $14.8B </li><li>Non revolving credit rose by $24.3B</li><li>For the year, revolving credit rose by 14.6% while non-revolving credit increase by 6.9%.</li></ul><p>The month on month volatility is more to the upside. Inflation is impacting the pocketbooks and may be leading to more borrowing to make ends meet. Having said that, balance sheets are stil solid overall. So it is hard to say it is a huge problem, but it may be a concern. </p>

This article was written by Greg Michalowski at www.forexlive.com.

<p>WTI crude oil settled at $89.01, up 47 cents on the day.</p><p>That’s a win for the bulls but certainly not the kind of bounce they were hoping for after yesteday’s breakdown below $90. It wasn’t all bad news though as crude showed some life after a drop to as low as $87.01. </p><p>On the fundamental side, the strong US jobs report undermines the idea that a recession will sap oil demand. The US added 528,000 jobs in July, more than double what economists were expecting.</p><p>Still, it was one of the worst weeks for oil this year. It fell $10 from last Friday’s close and is now up just $10 on the year. Technically, the daily and weekly closes were below a series of March/April lows. The period of consolidation over most of the year has now resolved lower.</p><p>The open question in the week ahead is what is going on with US gasoline demand. I wrote about it here: <a target=“_blank“ href=“https://www.forexlive.com/news/the-data-thats-driving-the-rout-in-oil-prices-is-barely-believable-20220804/“ target=“_blank“>The data that’s driving the rout in oil prices is barely believable</a>. It’s something that oil bulls are talking about non-stop and even made its way to <a target=“_blank“ href=“https://www.zerohedge.com/commodities/very-crooked-numbers-biden-admin-accused-fabricating-gas-demand-data-hammer-price-oil“ target=“_blank“ rel=“nofollow“>ZeroHedge</a>.</p>

This article was written by Adam Button at www.forexlive.com.