GLOBAL MARKETS – Wall Street opens higher, European indexes fall with ECB statements
Hilal Sarı / İstanbul, June 6 (DHA) – In parallel with US-China trade war concerns , warnings from World Bank and investment banks like Goldman Sachs and the rise in technology stocks, Wall Street opens higher
06 Haziran 2018 20:43
Hilal Sarı / İstanbul, June 6 (DHA) – In parallel with US-China trade war concerns , warnings from World Bank and investment banks like Goldman Sachs and the rise in technology stocks, Wall Street opens higher.
Markets eye the G-7 summit which will take place this week. Global oil prices still influence the financial markets. European Central Bank discussing to take some steps to wind down the quantitative easing, is also a focus for investors.
US – US trade deficit declines to lowest level in seven months. With Apple, amazon, Microsoft and Netflix shares touching record levels, tech sector rose by 0.43 percent and was among the best performing sectors in S&P 500.
US non-farm business productivity rose by 0.4 annually in April and labor costs rose by 2.9 percent. Manufacturing productivity on the other hand declined by 1.2 percent and unit labor costs declined by 5.2 percent.
Correspondingly with those improvements;
- Dow Jones rose by 0.41,
- S&P 500 rose by 0.08,
- Nasdaq hitting record high with 7,657.30, declined by 0.07 percent down to 7,632.00.
EUROPE – With trade concerns and signals from ECB board members pressured the indexes. Jens Weidmann from Bundesbank and ECB chief economist Peter Praet signaled that ECB was discussing to wind down monthly asset purchases. That led euro rise against dollar and pressured the indices.
- DAX fell by 0.44 percent
- FTSE declined by 0.12 percent
- CAC declined by 0.72 percent
- FTSE MIB declined by 0.90 percent.
- Stoxx600 declined by 0.57 percent.
ASIA – Asian indices closed higher with strong manufacturing PMI data coming from Asian economies yesterday.
After declining yesterday indices moved as follows today;
- Nikkei rose by 0.38 percent,
- Shanghai rose by 0.05 percent
- HSI rose by 0.53 percent,
- KOSPI rose by 0.25 percent
- MSCI Asia Index (minus Japan) rose by 0.62 percent, year-to-date revenue from the index rose to 16.45 percent.
In parallel with improvements;
- DOLLAR INDEX declined by 0.41 percent down to 93.49. Index moved between 93.42 and 93.89 during the day.
- EURO/DOLLAR rose by 0.51 percent as euro rose against dollar up to 1.1780. Euro/dollar reached 1.1796 highest and 1.1711 lowest intraday.
- US bonds rose; 10 year US bond yield rose to 2.961 percent, yield for 30 year US-bond rose to 3.117 percent and 2 year US-bond yield rose to 2.516 percent.
- DOLLAR/YEN, rose by 0.13 percent to 109.92 as dollar appreciated against yen.
- POUND/DOLLAR rose by 0.24 up to 1.3425.
- OIL prices sink as US crude stockpiles rise by 2.1 million barrels, fuel stocks also jump. WTI declined by 0.26 percent down to 65.35 dollars; Brent rose by 0.05 percent up to 75.42 dollars.
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