S&P 500 and Dow Jones show little reaction to the Fed’s statements while Nasdaq rises
Gold futures collapsed. The price lost over 900 ticks in 2 days. It was triggered by the yield of treasury bonds growth and the dollar index growth, with which the gold has an inverse relationship. But given the temporary effect, investors believe gold prices will continue to rise. At the moment, gold, silver, and a lot of mining companies are at good buying points.
Oil prices have corrected slightly but are still above $70 a barrel. The rising dollar makes oil more expensive in other currencies, restraining the demand. But in the short term, the oil demand will increase.
The Asian stock market showed little change. Hong Kong’s Hang Seng (+0.49%) was the growth leader, while China’s CSI 300 decreased by 0.36%. The Bank of Japan has reported on the monetary policy today. Rising commodity prices have led to higher fuel prices and, consequently, higher prices for consumer goods. Inflation rose slightly and is not expected to exceed the 2% target.
S&P 500 (F) 4,221.86 -1.84 (-0.04%)
Dow Jones 34,823.45 -210.22 (-0.62%)
DAX 15,727.67 +17.10 (+0.11%)
FTSE 100 7,153.43 -31.52 (-0.44%)
USD Index 91.90 +0.77 (+0.85%)
News feed for: 2023.07.04
- Japan National Consumer Price Index (m/m, y/y) at 02:30 (GMT+3);
- Japan BOJ Monetary Policy Statement at 02:30 (GMT+3);
- UK Retail Sales (m/m) at 09:00 (GMT+3);
- Japan BOJ Press Conference at 09:30 (GMT+3).
This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.
