Tech shines and brings sentiment higher – Market wrap for the North American session - August 6

[Ben Graham]

Log in to today's North American session recap for August 6, 2025.

Today marked another rebound for stocks after a more pessimistic session yesterday. The Magnificent 7 is pushing the Nasdaq towards a potential retest of its all-time highs, however there is still some road to cover to get there.

Apple, Amazon and Tesla are all up above 3% on the session and some more defensive names like Costco and Walmart help equities towards their daily strong session.

In terms of geopolitics, Trump has enacted 25% supplemental tariffs on India to put pressure on countries who import Russian Oil.

Read More: NFP miss sends the USD tumbling — North American Mid-Week Market Update

Daily Cross-Asset performance

Cross-Asset Daily Performance, August 6, 2025 – Source: TradingView

Cryptos and Nasdaq are both performing strongly in today's session while Oil is getting sold off harshly after the latest tariff headlines and a further negative surprise on the Oil Inventories.

A picture of today's performance for major currencies

Currency Performance, August 6 – Source: OANDA Labs

The Euro is shining strong in today's session as it is the usual benefactor from US Dollar selling flows.

Australian and NZ Dollars have retracted a bit off their highs after performing strongly in the morning session but still end up on a decent session.

Earnings Season: Who is releasing their numbers tomorrow

Earnings Calendar for August 7th – Source: Nasdaq.com

Tomorrow's earnings will focus on Eli Lily, Toyota and Mitsubishi.

A look at Economic data releasing in tonight and tomorrow's sessions

For all market-moving economic releases and events, see the MarketPulse Economic Calendar.

Tomorrow's main event is the Bank of England's rate decision at 7:00 A.M. ET where a cut is largely expected.

For the rest, the evening session will have a lot of data releasing for APAC currencies.

For the NA markets, focus on FED speakers' speeches and the Canadian Ivey PMI releasing at 10:00 A.M. ET.


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