- Wall Street indices traded lower yesterday, with S&P 500 dropping 0.60%, Dow Jones moving 0.86% lower and Nasdaq slumping over 1%
- In spite of declines on Wall Street, indices from Asia-Pacific traded higher today. Nikkei gained 1.2%, S&P/ASX 200 moved 0.6% higher, Kospi added 0.4% and Nifty 50 gained 0.2%
- Indices from China also trade higher, with Hang Seng gaining 0.9%
- European index futures point to a slightly lower opening of the cash session on the Old Continent
- Reuters reported that OPEC+ is working on an agreement to extend oil production cuts into next year
- Fed Logan said that it is too soon to think about rate cuts and that policy may not be as restrictive as we think
- Chinese manufacturing PMI dropped from 50.4 to 49.5 in May (exp. 50.5), while services index dropped from 51.2 to 51.1 (exp. 51.5)
- Miss in Chinese manufacturing PMI was driven by New Orders (49.6) and new export orders (48.3) subindices, which dropped below 50 pts threshold
- Japanese retail sales increased 2.4% YoY in April (exp. 1.8% YoY)
- Japanese industrial production dropped 0.1% MoM in April (exp. +1.0% MoM
- Core CPI inflation in Japan's Tokyo area, excluding food, accelerated from 1.6 to 1.9% YoY in May (exp. 1.9% YoY), while core-core measure, excluding food and energy, accelerated from 1.8 to 2.2% YoY . Headline CPI accelerated from 1.8% to 2.2% YoY
- Australian private sector credit increased 0.5% MoM in April (exp. 0.4% MoM)
- Cryptocurrencies trade lower - Bitcoin drops 0.1%, Ethereum trades 0.2% lower and Dogecoin declines 0.5%
- Energy commodities trade lower - oil drops 0.2-0.3%, while US natural gas prices trade 0.7% lower
- Precious metals trade lower - gold trades flat, silver and platinum drop 0.4% and palladium declines 0.3%
- NZD and CAD are the best performing major currencies, while CHF and EUR lag the most
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