Equities mixed after SP500 tips into bear market - 14.6.2022

Senior Analyst

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Todays’ Market Summary

The Dollar strengthening has halted
Futures on three main US stock indexes are up
Gold prices are edging up currently

Top daily news

Equity indexes are pointing in different directions currently after SP500 confirmed it is in a bear market on Monday. Microsoft shares lost 4.24% underperforming market while the software giant announced an agreement with the Communications Workers of America union that would make it easier for employees to unionize at the video game maker Activision Blizzard, which Microsoft is acquiring for $70 billion, Apple shares slid 3.83% on Monday.

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Forex news

The Dollar strengthening has halted currently. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, gained 0.8% on Monday.

Both EUR/USD and GBP/USD continued their retreating Monday as the Office for National Statistics reported manufacturing production slump accelerated in UK in April. Both pairs are up currently. AUD/USD speeded up its retreating yesterday while USD/JPY ended flat with the yen lower against the Greenback currently and Australian dollar higher.

Stock Market news

Futures on three main US stock indexes are up currently ahead of producer prices index report today 14:30 CET with the yield on benchmark 10-year Treasury notes inching down to 3.362%. US stocks dropped yesterday with SP500 closing 21.8% below its January 3 record closing high. The three benchmark indexes recorded daily losses ranging from 2.8% to 4.7% on Monday as Goldman Sachs forecast a 75 basis point interest rate hike at the Federal Reserve's policy meeting tomorrow.

European stock indexes are mixed currently after closing down Monday led by travel and leisure shares. Asian indexes are mixed today with Australia’s All Ordinaries ASX 200 Index leading losses.

Commodity Market news

Brent is up currently. Prices edged up yesterday. US West Texas Intermediate WTI added 0.3% and is lower currently. Brent slipped 0.2% to $119.51 a barrel on Monday.