- US indices are posting slight gains today, supported by hopes for a positive conclusion to the trade tariffs issue. The S&P 500 index is up 0.3%, and the Dow Jones is gaining almost 0.6%. The situation is slightly worse for the Nasdaq 100, which remains slightly below yesterday's closing price.
- China has lifted the 125% tariff on ethane imports from the US imposed earlier this month, according to two sources familiar with the matter.
- The macro calendar focused on JOLTS data from the US. Significantly lower data on new jobs in the US caused a short-term pullback in the dollar and supported US Wall Street.
- Data from Spain turned out to be slightly disappointing today. GDP growth in Q1 amounted to 0.6% q/q, compared to the expected 0.7% (previously: 0.8%). At the same time, the CPI inflation reading for April in year-on-year terms indicated a 2.2% increase (versus forecasts: 2.0%).
- During today's session, we learned about a number of publications of financial results of listed companies for the first quarter of 2025. These included: PayPal, General Motors, Coca-Cola, Deutsche Bank and Rheinmetall
- We saw a strong movement today in Hims & Hers shares, which increased by approx. 27%. The company started cooperation with the European giant Novo Nordisk on the sale of the drug Wegovy. Novo itself also ended today's session in the black, although in the case of the European company it amounted to "only" 2.8%.
- We see continued declines in the yields of US 10-year bonds, the value of which dropped below 4.2% for the first time since the declines caused by the turmoil after the announcement of retaliatory tariffs.
- The Swiss franc was the weakest on the currency market today. The USDCHF pair gained over 0.4% today. The Australian dollar also lost a lot, falling 0.6% against the dollar. The American currency strengthened against the basket by about 0.25%.
- Considerable declines are currently observed in crude oil, which is losing 2% despite a moderate improvement in sentiment towards "risk".
- We see mixed sentiment on the precious metals market. Gold contracts are losing 0.6%, thus extending consolidation around $3,325/ounce. Palladium is seeing even stronger declines, falling 1.5%. Platinum is losing almost 1%, thus interrupting a series of 6 upward sessions. The situation looks slightly better on silver, which is gaining over 0.4% today.
- Cryptocurrencies are up today. Bitcoin is adding 0.7% today and is trading near the level of $95,000. At the same time, Ethereum is adding 1.4%.
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