Please note that due to market volatility, some of the scenarios may have already been played out and the information below is not an investment advice.
Wall Street bounces back: After registering significant losses on Tuesday, US markets recovered yesterday, as the Dow Jones and S&P 500 both closed more than 1.2% higher and the Nasdaq finished up by nearly 0.9%. One of the catalysts for the market’s recovery was the Prelim GDP data released yesterday, which showed overall growth in US market. Several stocks reached new all-time highs, including Microsoft, Adobe and GoDaddy.
Euro recovers against USD: After political uncertainty in Italy and Europe prompted several losing sessions, the Euro bounced back against the USD, rising more than 1% yesterday. Top officials in Italy said that they are working to form a government, easing concerns that the country might face a snap election or form and anti-EU government.
Asia follows Wall Street’s lead: Markets in the East were boosted by the gains in the US, as the Nikkei, Hang Seng and China50 were all seen higher this morning.
Crypto market relatively stable: After significant volatility was seen over the past few days, the crypto market was less volatile over the past 24 hours. While 6 of the top 10 cryptos were seen lower at the time of writing, most of the movements were not very significant. Bitcoin was nearly flat, holding just above the $7,500 mark.
Oil dips ahead of report: The black gold experienced another price drop this morning, pushed down by reports that OPEC members might ramp up production and by expectations that Crude Oil Inventories report, to be released at 15:00 GMT, will show an increase in US stockpiles.
Volatility expected for CAD: The monthly GDP report is due in Canada at 12:30 GMT, potentially generating volatility for the Canadian Dollar.
Europe opens higher: The FTSE opened 32 points higher, the DAX was up 52 points and the CAC opened 21 points higher.
Stocks earnings releases on 31/05/2018
- VMW | VMware | After market close
- COST | Costco Wholesale Corp | After market close
Stocks earnings releases on 01/06/2018
- ANF | Abercrombie & Fitch Company | Before market open
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