Equites rise with rising bond yields - 17.5.2022

Senior Analytical Expert

Articles:784

Todays’ Market Summary

The Dollar weakening is intact
Futures on three main US stock indexes are up
Brent is edging lower currently as European Union's negotiations to ban Russian oil imports yielded no results - Hungary vetoed the proposed oil embargo which requires approval from all EU nations.
Gold prices are edging up currently

Top daily news

Equities are pointing up currently as US Treasury yields inch up while Wall Street dipped on Monday. Apple shares lost 1.07%, Microsoft shares added 0.15% outperforming market on Monday amid reports Bill & Melinda Gates Foundation Trust pared its holdings in Microsoft to 945 thousand shares from about 1.94 million in the first quarter of 2022.

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Forex news

Currency Pair	Change
EUR USD	+0.58%
GBP USD	+0.64%
USD JPY	+0.23%

The Dollar weakening is intact 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, lost 0.3% on Monday.

Both EUR/USD and GBP/USD accelerated their climbing Monday while federal statistics office Destatis reported the selling prices in wholesale trade rose by 23.8% compared with April 2021 in Germany, up from 22.6% in March. Both pairs are up currently. AUD/USD accelerated its advancing yesterday while USD/JPY reversed its climbing with the yen retreating against the Greenback currently and Australian dollar higher still.

Stock Market news

Indices	Change
Dow Jones Index	+0.65%
Nikkei Index	+0.61%
Hang Seng Index	+2.3%
Australian Stock Index	+0.38%

Futures on three main US stock indexes are up currently with the yield on benchmark 10-year Treasury notes inching up to 2.917%. US stock market extended the selloff yesterday as fears of slowdown persisted. The three main US stock index benchmarks booked daily returns in the range of -1.2% to 0.08% Monday led by mega-cap growth shares as data on Monday showed factory activity in New York state slumped in May for the third time this year amid a collapse in new orders and shipments.

European stock indexes are up currently after closing mixed Monday. Asian indexes are rising today with Hong Kong’s Hang Seng index leading gains as tech shares rebounded on hopes of Beijing's crackdown on the sector being relax..

Commodity Market news

Commodities	Change
Brent Crude Oil	-0.03%
WTI Crude	-0.22%

Brent is edging lower currently as European Union's negotiations to ban Russian oil imports yielded no results - Hungary vetoed the proposed oil embargo which requires approval from all EU nations. Prices advanced yesterday Shanghai declared that 15 of its 16 districts had eliminated cases outside quarantine areas. US West Texas Intermediate WTI jumped 3.4% but is lower currently. Brent gained 2.4% to $114.25 a barrel on Monday.