Morning wrap (10.06.2021)

6:46 AM June 10, 2021
  • US indices finished yesterday's trading lower. S&P 500 dropped 0.18%, Dow Jones declined 0.44% and Nasdaq closed 0.09% lower. Russell 2000 dropped 0.70%

  • Stocks in Asia traded higher. Nikkei and Kospi gained 0.4%, S&P/ASX 200 added 0.5% and indices from CHina traded over 1% higher

  • DAX futures point to a slightly higher opening of the European session

  • A bipartisan group of US politicians presented an 8-year infrastructure deal worth $1.25 trillion, that includes no tax hikes

  • Trade ministers of the United States and China spoke on the phone and agreed to work to improve trade ties

  • Nuclear talks between Iran and the United States will resume this weekend. United States hope to reach agreement before June 18

  • Qinghai province of China banned cryptocurrency mining, following the move from 2 other provinces.

  • Bitcoin bounced around 20% off a low on Tuesday. The coin is trading above $36,000

  • Precious metals, oil and industrial metals trade lower

  • AUD and NZD are the best performing major currencies while EUR and CHF lag the most

US30 started to underperform in recent days. Pullback has been small so far, especially when compared to the bull run of the past 7-8 months. Mid-term upward trendline is the first near-term support to watch. Source: xStation5

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