- Wall Street indices traded mixed yesterday - S&P 500 dropped 0.31%, Nasdaq slumped 1.07%, Dow Jones gained 0.67% and small-cap Russell 2000 added 0.31%
- Indices from Asia-Pacific traded higher today - Nikkei gained 0.7%, S&P/ASX 200 jumped 1.1%, Kospi added 0.4% and Nifty 50 moved 0.2% higher. Indices from China traded mixed
- European index futures point to a lower opening of the cash session on the Old Continent today
- Chinese premier Li said he is confident China will achieve growth target of around 5%, and that China should seize new opportunities of tech revolution and industrial transformation
- US administration will investigate China Telecom, China Mobile and China Unicom in a probe focused on US national security risk from cloud business and internet infrastructure
- Bank of America expects Fed to begin cutting rates in December 2024. BofA expects cuts to be gradual amid persistent inflation
- Japan will issue revised January-March GDP data on June 30 that is corrected for errors in construction orders data
- Cryptocurrencies are recovering after yesterday's slump - Bitcoin gains 1.5%, Ethereum adds 0.7% and Dogecoin rallies over 4%
- Energy commodities trades slightly lower, with oil and natural gas prices down around 0.1%
- Precious metals trade mixed - gold drops 0.4%, silver trades 0.2% lower, platinum gains 0.7% and palladium rallies 1.4%
- AUD and JPY are the best performing major currencies, while USD and NZD lag the most
Daily Summary: U.S.-China Tensions Trigger the Sharpest Sell-Off Since “Liberation Day” ✂️
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