- Wall Street indices are recording declines today despite opening in positive territory. Comments from Jerome Powell at yesterday's conference continue to worry investors. Nasdaq and Russell are losing the most.
- The real estate market in the States has rebounded strongly. The report on new home sales in the USA was well above expectations, showing a 20% increase compared to the previous month. This raises questions about the pace of further rate hikes.
- The US oil inventory reading showed sustained strong domestic demand. Oil is recording gains at the end of the American session.
- The session in Europe proceeded in optimistic moods. Most major indices ended the day with gains. The IFO index showed another decline in business confidence, while defense companies are recording new highs.
- Copper contracts rose by 3.5% today due to supply constraints from the closure of mines in Peru and Indonesia. Zinc and nickel are also doing well, with over 1% growth.
- A shallow correction is underway in the valuations of precious metals. Silver and gold are losing value. This is driven by changes in forecasts and sentiment regarding FED policy.
- Coffee contracts are up over 4%. This is mainly due to profit-taking by sellers, but also due to forecasts signaling tougher weather conditions in key growing regions.
- The US dollar is experiencing significant strengthening today. The American currency is recovering some of the losses from recent weeks.
- Exceptionally low volatility in the crypto market, but with decent sentiment. The market is clearly waiting for a signal to move. Most cryptocurrencies are ending the session with symbolic gains. Bitcoin is up by 1%.
- Micron (MU.US) presented very good results. The company exceeded revenue and EPS expectations and showed double-digit sales growth in key business segments. However, this did not protect the company's valuation, which is recording a loss of almost 4% near the end of the session.
- Lithium America (LAC.US) is up nearly 100% after the US government announced it would take a 10% stake in the company.
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