In the US, earning season has killed off as Wall Street Banking Giant JP Morgan Chase become the first big banks to report its latest quarterly figures. The company big forecast reporting a stronger than expected rise of 5.2% in profits for the three months to the end of June. JP Morgan said the rise in the profits were due to a fall in legal and restructuring costs. 

 

And news of the Iran nuclear deal has sent global oil prices tumbling. Shortly after the news emerge, the price of Brand Crude and US Crude both fell by more than one dollar a barrel. Well, many expected will take around several months to fully wrap up its export capacity. Analysts say even the modest initial increase will be enough to pull international oil prices down even further. 

 

And let’s check the global markets. Well, shares have risen overnight. The Dow gained 76 points. Nasdaq and S&P 500 were both up more than 0.5%. While in London, the FTSE rose 0.2%. Checking commodity prices for you, West Texas Crude is trading at 53 US dollars a barrel. Tapis Crude is at 60 US dollars a barrel. And gold is trading at 1155 US dollars an ounce. The Australian dollar is currently buying 74 US cents, 68 euro cents and 48 pence sterling.