-
Indexes on Wall Street end the day with gains supported by a weak dollar. The US500 gained 0.75% to 5325 points and the US100 gained almost 1.20% testing the 18900 point area.
-
The mood on the European equity market was clearly mixed today, but the DAX managed to recover and closed the session on a minimal positive note, driven by a rebound in the US equity market.
-
The WIG20 closed the session almost 0.5% lower and the mWIG40 lost less than 0.2% against an almost 1% sell-off in sWIG80 companies
-
The dollar is the weakest G10 currency, with declines accelerated following the release of a University of Michigan survey that showed consumer improvement and a relatively strong drop in inflation expectations for the next one and five years.
-
Final consumer sentiment according to the University of Michigan indicated 69.1 versus 67.7 forecast and 67.4 previously
- 1-year inflation expectations: 3.3% vs. 3.4% forecast and 3.5% previously
- 5-year inflation expectations: 3% vs 3.1% forecasts and 3.1% previously
-
US durable goods orders (for April) rose m/m by 0.7% vs -0.8% forecasts and 2.6% previously (revised to 0.8%). Indices gained in reaction after the release.
-
Canadian retail sales, for April, fell -0.2% m/m vs -0.1% forecasts and -0.1% previously. USDCAD loses after the data, with the chances of an interest rate cut by the Bank of Canada in July increasing.
-
NATGAS is trading down after the rollout, with oil futures trading marginally higher. Wheat futures close the week around US$695 per bushel;
-
Among US technology stocks, Magnificent 7 shares are doing well, with Apple and Meta Platforms leading the way. Intuit shares lose almost 8% today after disappointing forecasts for the next quarter
-
ZIM Integrated Shipping shares continue their rise and are trading at their highest since April 2023. Growth has been driven by higher freight rates supported by solid global macro data and a recovery in China. Similarly, the shares of Maersk and Hapag Lloyd traded better today
-
Cryptocurrencies are rebounding slightly, but sentiment is not as positive as that for US equity indices. Bitcoin gains 1.00% to $68600, while Ethereum loses almost 2.00% and remains around $3700.
-
Analysts at JP Morgan estimate that now when Ethereum ETFs are approved, it could be several months, even until November this year, before the ETFs actually starts trading.
The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.
