Reports from Google and Microsoft failed to keep major indices from falling.
The US consumer confidence index fell to 107.3 points in April from a revised 107.6 points in March. US new homes sales in March fell by 8.6% from the previous month to an annualized rate of 763,000. The index declined for the third month in a row.
Russian Foreign Minister Sergei Lavrov has said that if the US and its allies continue to supply weapons to Ukraine, there is a risk that the war could escalate into a wider conflict with NATO countries.
The escalation of Russia’s quarrel with the West caused oil prices to rise yesterday. Black gold prices rose by 3%, recovering from three days of declines.
Asian markets traded yesterday without a single trend. Japan’s Nikkei 225 (JP225) gained 0.41%, Hong Kong’s Hang Seng (HK50) jumped by 0.33%, and Australia’s S&P/ASX 200 (AU200) ended the day with a 2.08% drop. Traders are under pressure from factors such as the coronavirus outbreak in China, rising inflation rates, and prospects of central banks’ rates increasing. All of them contribute to growing concerns about further economic growth and cause volatility in the market. Beijing is undergoing mass testing after increasing Covid-19 cases, raising fears that the Chinese capital could face a lockdown. Chinese President Xi Jinping is demanding that officials ensure that China’s GDP growth rate this year surpasses that of the United States, despite the adverse effects of another COVID-19 outbreak in the country.
S&P 500 (F) (US500) 4,175.20 −120.92 (−2.81%)
Dow Jones (US30) 33,240.18 −809.28 (−2.38%)
DAX (DE40) 13,756.40 −167.77 (−1.20%)
FTSE 100 (UK100) 7,386.19 +5.65 (+0.077%)
USD Index 102.34 +0.59 (+0.57%)
News feed for: 2023.07.04
- Australia Consumer Price Index (q/q) at 04:30 (GMT+3);
- Eurozone ECB President Lagarde Speaks at 14:30 (GMT+3);
- US Pending Home Sales (m/m) at 17:00 (GMT+3);
- US Crude Oil Reserves (w/w) at 17:30 (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.
