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U.S. indices end the day in positive territory despite an uncertain cash session open. At the time of publication, the biggest gains are seen in the small-cap index – US2000 up +1.62%. The US500 index is up 0.65%, and the US100 gains 0.90%.
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The main driving force behind today’s gains are technology companies, especially shares of Nvidia and Broadcom.
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Alongside the stock market, the U.S. dollar is also gaining, currently the strongest currency among the G10. The USDIDX index rises 0.55% today. The EURUSD currency pair drops 0.55% to 1.1377.
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White House Press Secretary Leavitt confirmed tomorrow as the final deadline for submitting trade offers from U.S. partners. Leavitt remains optimistic about potential trade deals.
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Hims & Hers is rising today following news of a planned acquisition of the European platform ZAVA. The acquisition is part of the company’s strategy to expand its global operations.
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Defense sector investment plans proposed by U.K. Prime Minister Stramer have driven BAE Systems shares to new all-time highs today, extending the company’s steady upward trend.
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U.S. factory orders surprised with a lower reading today, although this was offset by stronger JOLTS labor market data. It’s also worth remembering that order data is very volatile, so its impact on asset valuations tends to be relatively limited.
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The Caixin PMI index for China’s manufacturing sector unexpectedly dropped to 48.3 points, despite expectations of a rise to 50.7 points and a previous reading of 50.4.
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The strengthening of the dollar against the AUD is triggered by the RBA Minutes release. The RBA is ready to cut interest rates by 50 basis points if economic turmoil arises due to the trade war and global recession.
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Precious metals are declining amid Wall Street euphoria. Gold is down today.
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Bitcoin is attempting to recover losses and end the recent correction. The price of the largest cryptocurrency is up 0.06% today to 106,000 USD.
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Institutional investors’ attention is also starting to shift toward Ethereum amid the potential SEC approval for ETF instruments that include staking. Ethereum is up 0.40% today to 2,620 USD. However, the price still remains about 45% below all-time highs.
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