US and European indices are rising again. Shanghai back to normal life
Hardware manufacturer Hewlett Packard (HP) announced its withdrawal from Russian and Belarusian markets, the company announced on its official site along with the publication of its quarterly report.
The EU approved a partial oil ban on Russia and sanctions against Sberbank.
OPEC+ has agreed to increase oil production to compensate for Russia’s production decline. Thus, the situation in the oil market remains the same. With increasing demand and limited supply, oil prices continue to rise. Many analysts believe that OPEC+ artificially creates a situation with limited supply to keep oil prices high.
Asian markets traded lower yesterday. Japan’s Nikkei 225 (JP225) decreased by 0.16%, Hong Kong’s Hang Seng (HK50) lost 1.00% and Australia’s S&P/ASX 200 (AU200) was down by 0.80%. Shanghai returned to normal life on Wednesday after two months of strong lockdown due to COVID-19. Stores reopened and people returned to offices, parks and markets. This is a good sign, especially for the manufacturing sector, business activity and the service sector.
Polls show that the Reserve Bank of Australia will raise rates by 25 basis points in June, although some policymakers said they would like to see a 40-basis-point hike, preferring to move faster. Australia’s economy is recovering quickly from the pandemic, but inflation has reached a 20-year high of 5.1% in annual terms, well above the 2-3% target range.
S&P 500 (F) (US500) 4,176.87 +75.64 (+1.84%)
Dow Jones (US30) 33,248.61 +435.38 (+1.33%)
DAX (DE40) 14,485.17 +144.70 (+1.01%)
FTSE 100 (UK100) 7,532.95 0 (0%)
USD Index 101.77 -0.73 (-0.71%)
News feed for: 2023.07.04
- Japan Services PMI (m/m) at 03:30 (GMT+3);
- Eurozone German Services PMI (m/m) at 10:55 (GMT+3);
- Eurozone Services PMI (m/m) at 11:00 (GMT+3);
- Eurozone Retail Sales (m/m) at 12:00 (GMT+3);
- US Nonfarm Payrolls (m/m) at 15:30 (GMT+3);
- US Unemployment Rate (m/m) at 15:30 (GMT+3);
- US ISM Services PMI (m/m) at 17:00 (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.
