SHARE

Wall Street indices finished yesterday’s trading mixed – S&P 500 gained 0.11%, Dow Jones dropped 0.30%, Nasdaq jumped 0.56% and small-cap Russell 2000 traded 0.50% lower

Tuesday News
  • Wall Street indices finished yesterday’s trading mixed – S&P 500 gained 0.11%, Dow Jones dropped 0.30%, Nasdaq jumped 0.56% and small-cap Russell 2000 traded 0.50% lower
  • Indices from Asia-Pacific traded mostly lower today – Nikkei dropped 0.4%, S&P/ASX 200 moved 0.2% lower, Kospi dropped 0.6% and Nifty 50 plunged over 4%
  • There was no new or surprising news today so the slump on Indian stock exchange seem to be continuation of post-election move started yesterday. There are no official results yet, but partial results seem to confirm Modi’s victory
  • Chinese stock indices traded higher today, with Hang Seng adding 0.3%
  • European index futures point to a flat or slightly lower opening of the cash session on the Old Continent today
  • Bank of Japan Governor Ueda said that the bank will adjust the degree of monetary support if underlying inflation moves in-line with projections
  • Japan’s finance minister Suzuki said that FX intervention in late-April and early-May were in response to speculative moves
  • Deutsche Bank boosted its euro area GDP forecast for 2024 from 0.4% to 0.9%
  • UBS says that 50 basis points of Fed rate cuts (2 cuts) is its base case scenario for 2024
  • South Korean CPI inflation decelerated from 2.9 to 2.7% YoY in May (exp. 2.8% YoY), the lowest reading since July 2023. Core CPI slowed from 2.3 to 2.2% YoY, marking the lowest reading since December 2021
  • Australian business inventories climbed 1.3% QoQ in Q1 2024 (exp. +0.8% QoQ)
  • Australian gross company profits declined 2.5% QoQ in Q1 2024 (exp. -1.0% QoQ)
  • Australian current account balance for Q1 2024 unexpectedly showed a 4.9 billion AUD deficit (exp. +5.9 billion AUD)
  • Cryptocurrencies are trading lower – Bitcoin drops 0.1%, Ethereum trades 0.2% lower and Dogecoin dips 0.3%
  • Energy commodities trade lower – Brent drops 0.7%, WTI declines 0.9% and US natural gas prices traded 0.5% lower
  • Precious metals trade mixed – gold drops 0.1%, silver declines 0.5%, while platinum and palladium gain 0.1% each
  • CHF and EUR are the best performing major currencies, while AUD and CAD lag the most

Table of Contents