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Daily Market Snapshot: Forex, Stocks, Indexes, Bonds, Key Commodities, ETF – 22 May 2024

Daily Market Update 

The S&P recorded a fresh record high yesterday as the three major US indices continue to take turns hitting historical levels on a daily basis. Once again, the move was spurred as investors look ahead to tomorrow’s key Nvidia earnings report with optimism high that the poster child of the AI revolution will once again deliver the goods. 

Despite the headlines, the markets were relatively subdued across the trading day yesterday as updates from Fed officials again failed to move the dial too much ahead of today’s FOMC Meeting Minutes and most products trod water for most of the day. 

The macroeconomic calendar does look a touch more inspiring today with traders in the APAC session looking closely at Kiwi markets today with the latest RBNZ rate announcement due and UK markets set to move on the CPI data release before the aforementioned FOMC Meeting Minutes are released late in the US Day.

Market Daily Change Close 
Dow +0.17% 39,872 
S&P +0.25% 5,321 
Nasdaq +0.22% 16,832 
USD Flat 104.62 
US Treasury – 2 Year -0.5bps 4.833% 
US Treasury – 10 Year -2bps 4.416% 
Oil – Brent -1.41% $82.53 
Oil – WTI -0.68% $79.26 
Gold -0.2% $2,420 

Today’s Events AEST: 

Asian Session 

  • 12.00 pm – RBNZ Official Cash Rate, Rate Statement and Monetary Policy Statement 
  • 1.00 pm – RBNZ Press Conference 

European Session 

  • 4.00 pm – UK CPI Data 
  • 4.00 pm – UK PPI Data 

US Session 

  • 12.00 am – US Existing Homes Sales 
  • 4.00 am – FOMC Meeting Minutes

This market commentary and analysis has been prepared for ATFX by a third party for general information purposes only. Any view expressed does not constitute a personal recommendation or solicitation to buy or sell as it does not take into account your personal circumstances or objectives, and should therefore not be interpreted as financial, investment or other advice, or relied upon as such. You should therefore seek independent advice before making any investment decisions. This information has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. We aim to establish and maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. The market data is derived from independent sources believed to be reliable, however we make no representation or warranty of its accuracy or completeness, and accept no responsibility for any consequence of its use by recipients. Reproduction of this information, in whole or in part, is not permitted.

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