Fresh records were set in US markets again overnight as Nvidia overtook Microsoft to become the biggest company in the world. The S&P and Nasdaq both closed at record highs even though the rises were unspectacular after mixed data and more Fed comments hit the markets. Treasury yields and the dollar dropped, mainly on the back of the weaker Retail Sales data print which increased concerns about a slowing economy.
Oil pressed higher again as traders priced in further geopolitical uncertainty in Europe as did Gold which moved back into the middle of recent ranges.
The event calendar and markets are set to be quieter today with just the UK CPI data likely to have any significant impact and US markets on holiday for Juneteenth.
| Market | Change | Close |
| Dow | +0.15% | 38,834 |
| S&P | +0.25% | 5,487 |
| Nasdaq | +0.03% | 17,862 |
| USD | -0.02% | 105.25 |
| US Treasury – 2 Year | -3.8 bps | 4.724% |
| US Treasury – 10 Year | -6.2 bps | 4.217% |
| Oil – Brent | +1.3% | $85.33 |
| Oil – WTI | +1.5% | $81.57 |
| Gold | +0.4% | $2,329 |
Today’s Events:
Asian Session
- 9.50 am – Bank of Japan Monetary Policy Meeting Minutes
European Session
- 4.00 pm – UK CPI Data
- 4.00 pm – UK PPI Data
US Session
- US Bank Holiday
