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Calm day on European stock markets
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US equities rally, tech stocks outperform
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Oil prices jump more than 3%
The new week started with thinner volume as several European stock exchanges remained closed due to a holiday, including German and Swiss stock markets. Other European markets finished the day mixed - while indices from UK and France closed slightly higher, equity benchmarks from Spain and Italy fell. US markets opened higher with tech stocks being clear outperformers - Nasdaq100 (US100) is currently gaining roughly 1.40%
Commodities markets have started the week on a strong note as well. Major gains might be spotted on oil markets as both WTI and Brent advance more than 3% on potential snag in Iran talks. Gold and silver prices continue to push higher throughout the day. Cryptocurrencies rally after weekend’s slump, Bitcoin approached $38,000 in the afternoon. EURUSD climbed above 1.22 level as the dollar is trading lower against major currencies.
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Create account Try a demo Download mobile app Download mobile appOn the data front, today’s calendar lacked top-tier releases. Nevertheless investors paid attention to numerous central bankers’ speeches, including BoE’s Bailey or Fed’s Bullard. Also, the attention is focused on Belarus after Ryanair plane grounding as EU leaders discussed the issue during the EU summit.
Tomorrow markets will pay attention to Q1 GDP data from Germany and German Ifo Business Climate for May. In the afternoon, an important set of data will be released from the United States - CB Consumer Confidence for May, new home sales for April and Richmond Manufacturing Index for May.
As US markets continue to push higher, US30 is approaching the 34,400 pts mark. This area may be seen as a major resistance for now - should bulls manage to break above it, the attention could shift towards 34,610 pts (78.6% Fibonacci retracement of the drop started on May 10).
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