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US indices finished yesterday's trading little changed. Dow Jones and Nasdaq dropped 0.04% while S&P 500 finished flat. Russell 2000 closed 0.45% lower
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Xi Jinping and Joe Biden held a virtual meeting during Asian morning hours
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Biden told his Chinese counterpart that the United States will stand up for its values and interest together with its allies. According to Reuters report, nothing new has been agreed on relating to Taiwan
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Chinese state media claims Biden said that the United States does not support Taiwan independence and seeks peace and stability in the Taiwan Strait. Those remarks were not confirmed by the US side
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Meeting between US and China leaders did not trigger any major market reaction. Asian indices traded mixed - stocks in Japan and China gained while equities from South Korea and Australia dropped
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DAX futures points to a flat opening of today's cash session in Europe
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Fed's Kashkari warned that FOMC should not overreact to temporary drivers of inflation. He said that he does not see evidence of a long-term inflation expectations shifting
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RBA Governor Lowe said that underlying price growth would need to accelerate beyond 2.5% to justify a rate hike. RBA minutes showed that Bank still sees first rate hike in 2024 as base case scenario
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Chinese National Development and Reform Commission said it will impose punitive electricity prices on households that mine crypto. NDRC also vowed to take more decisive steps against state-owned firm that mine crypto
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Bitcoin dropped below $61,000 and trades at the lowest level in 10 days
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Gold and silver trade higher while platinum and palladium pull back. Oil gains
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EUR and GBP are the best performing major currencies while NZD and AUD lag the most
Chinese index CHNComp bounced off the support zone in the 8,700 area recently as some indications of improvement in the domestic real estate sector surfaced. The index managed to climb to a 3-week high today even as the Biden-Xi virtual meeting failed to trigger any bigger move. Source: xStation5
