Market Overview - Page 114

In May, US companies added 128K new jobs, the ADP showed in its monthly report, indicating a fading recovery. Market analysts, on average, expected a more than double increase. A look inside the report is even more alarming. Very small.

Crude oil is down for a third consecutive day, having lost more than 2% earlier on Biden’s comments that the West might agree to buy Russian oil at a discount instead of an embargo. In addition, the US media is.

Gold has shed its position for the second day in a row, losing more than 1% during that time, and that might be just the beginning of a new downside wave, which will potentially take the price down to $1650..

In the US debt market, 10-year Treasury yields have exceeded 2.8% after floundering around 2.7% last week. This small move for bonds is having severe consequences for almost all markets. The dollar index is almost in sync with long-term bond.

Brent spot prices were approaching $120 earlier today on news that the EU managed to agree on an immediate embargo on 2/3 of oil imports from Russia. We saw Oil trading above current levels for just a couple of days.

A preliminary estimate showed that German inflation continues to pick up, reaching 7.9 y/y in May. This is a new inflation record since 1951, and the reading was also above the forecast of 7.6%. A separate release of import prices.

US stock indices developed a strong rebound all last week. The S&P500 spot index reached 4200, gaining more than 10% from the lows of May 20. Such a rapid recovery has raised the question of whether we are seeing a.

The Dollar is continuing its retreat, which started precisely two weeks ago. Over this period, the Dollar Index has retreated 3.5% from the 20-year highs, losing about half of the gains from the last leg of the rally since late.

A revised estimate for the first quarter showed that US GDP contracted at an annual rate of 1.5% (previously reported at -1.4% and expected -1.3%). A major factor in the decline was a jump in net imports, a situation that.

The yuan has been losing 1.6% in the past two days amid fears of an economic slowdown. This is a solid move compared to how unexpected the bad news was. In our opinion, the appreciation of the last two days.

On Tuesday, Snap shares lost 43% of their value, bouncing back to $13.5, their lowest level since April 2020 and losing more than 80% of their peak valuation last September. The stock looks extremely oversold now. Given the business’s relatively.

US durable goods orders added 0.4% in April after rising 0.6% a month earlier, slightly weaker than the 0.6% increase expected. Excluding transportation, orders rose by 0.3% in April, following a 1.1% increase a month earlier. This series shows steady.