US Market Outlook: US PPI Starts at $35 Lower Than Expected Dow Average
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This is the reading for tonight's NY stock.![]()
Market Overview
The US market started, and the Dow Jones Industrial Average, which consists of excellent stocks, depreciated 35.09 dollars to 38677.12 dollars, and the Nasdaq Composite Stock Price Index, which has a high high-tech stock ratio, began at 17715.27 with a 10106.83 point increase. The S&P 500 average, which consists of stocks of 500 companies, which are large US stocks, is 20.90 points higher at 5441.93.
The US market started, and the Dow Jones Industrial Average, which consists of excellent stocks, depreciated 35.09 dollars to 38677.12 dollars, and the Nasdaq Composite Stock Price Index, which has a high high-tech stock ratio, began at 17715.27 with a 10106.83 point increase. The S&P 500 average, which consists of stocks of 500 companies, which are large US stocks, is 20.90 points higher at 5441.93.
Top news
The US May Producer Price Index (PPI) is lower than expected due to a 0.2% decrease from the previous month, and the core index remains flat and lower than expected
●The U.S. Department of Labor will announceProducer Price Index (PPI) for MayisWhat is the month-on-month ratio0.2% reduction、It fell short of the 0.1% increase expected by the market. There was a 0.5% increase in the previous fiscal year.
● Excluding food and energyMay Core Producer Price Index (Core PPI)) is0.0% compared to previous month、It fell short of the 0.3% increase expected by the market. There was a 0.5% increase in the previous fiscal year.
●The U.S. Department of Labor will announceProducer Price Index (PPI) for MayisWhat is the month-on-month ratio0.2% reduction、It fell short of the 0.1% increase expected by the market. There was a 0.5% increase in the previous fiscal year.
● Excluding food and energyMay Core Producer Price Index (Core PPI)) is0.0% compared to previous month、It fell short of the 0.3% increase expected by the market. There was a 0.5% increase in the previous fiscal year.
The impact of the Federal Reserve
● Since the hawkish tone of the Fed (US Federal Reserve) interest rates weighed on sentiment, and the US inflation rate was soft, European stocks returned part of Wednesday's increase.
● The Fed's policymakers anticipate that the 2024 loan interest rate will be cut from the previous 3 times to 1 time, but Chairman Powell suggests the possibility of further cuts.
● Nevertheless, traders are strengthening their view that the Fed will move to cut interest rates in September. Futures for the S&P 500 stock price index and the Nasdaq 100 stock price index are moving in the high price range, but there is almost no change in the dollar yen exchange rate and the government bond exchange rate ahead of Thursday's trading.
● Since the hawkish tone of the Fed (US Federal Reserve) interest rates weighed on sentiment, and the US inflation rate was soft, European stocks returned part of Wednesday's increase.
● The Fed's policymakers anticipate that the 2024 loan interest rate will be cut from the previous 3 times to 1 time, but Chairman Powell suggests the possibility of further cuts.
● Nevertheless, traders are strengthening their view that the Fed will move to cut interest rates in September. Futures for the S&P 500 stock price index and the Nasdaq 100 stock price index are moving in the high price range, but there is almost no change in the dollar yen exchange rate and the government bond exchange rate ahead of Thursday's trading.
Mask salary agreement
● Elon Musk said late Wednesday that the two key proposals to revise 56 billion dollars (about 5.6 trillion yen) of compensation and move Tesla's legal base from Delaware to Texas have now been passed with an “overwhelming difference.”
● $Tesla(TSLA.US$ The voting deadline is 6/12 10:59 p.m. (Central Standard Time), the day before the annual general meeting of shareholders.
● Those in favor of salary transactions include Scottish asset management company Baillie Gifford, Cathie Wood's Ark Investment Management, and Ron Baron who operates Baron Funds. Opponents include Norges Bank, which is a Norwegian government fund, and the California Civil Service Retirement Pension System.
● Elon Musk said late Wednesday that the two key proposals to revise 56 billion dollars (about 5.6 trillion yen) of compensation and move Tesla's legal base from Delaware to Texas have now been passed with an “overwhelming difference.”
● $Tesla(TSLA.US$ The voting deadline is 6/12 10:59 p.m. (Central Standard Time), the day before the annual general meeting of shareholders.
● Those in favor of salary transactions include Scottish asset management company Baillie Gifford, Cathie Wood's Ark Investment Management, and Ron Baron who operates Baron Funds. Opponents include Norges Bank, which is a Norwegian government fund, and the California Civil Service Retirement Pension System.
Europe's sense of alarm
● In Europe, European Central Bank (ECB) President Joachim Nagel warned about sluggish consumer price growth in the Eurozone. The Bundesbank president repeated that the situation was determined at each meeting, rather than simply automatically lowering borrowing costs.
● Since MSCI announced late Wednesday night that European Union (EU) government bonds would not be added to the government bond index, EU bonds also fell. Due to this news, investors' observations that European Union (EU) countries would be quickly incorporated into more widely supported benchmarks have receded.
● In Europe, European Central Bank (ECB) President Joachim Nagel warned about sluggish consumer price growth in the Eurozone. The Bundesbank president repeated that the situation was determined at each meeting, rather than simply automatically lowering borrowing costs.
● Since MSCI announced late Wednesday night that European Union (EU) government bonds would not be added to the government bond index, EU bonds also fell. Due to this news, investors' observations that European Union (EU) countries would be quickly incorporated into more widely supported benchmarks have receded.
— MooMoo News Zeber
Source: moomoo, Bloomberg
This article uses automatic translation for some of its parts
Source: moomoo, Bloomberg
This article uses automatic translation for some of its parts
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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