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-FXOR

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

2024-06-05

FXCM

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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