Stocks advance after volatile trading week

Dmitry Lukashov IFC Markets

Top daily news

Equities futures are mostly up currently after Wall Street ended mixed on Friday despite strong US manufacturing data. Apple shares lost 1.5% while chief executive Tim Cook defended the company in a trial brought by video game developer Epic Games which claims Apple monopoly through its "walled garden " squeezes app makers, Bitcoin fell 13% on Sunday and currently is around $35,208 hurt in part by China’s crackdown on mining and trading of the largest cryptocurrency with price down about 50% from its all-time high.

Forex news

Currency Pair	Change
EUR USD	+0.54%
GBP USD	+0.09%
USD JPY	-0.18%
AUD USD	+0.28%

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 0.3% on Friday as Markit reported US manufacturing PMI rose to 61.5 in May from 60.5 in April. Readings above 50.0 indicate industry expansion, below indicate contraction.

Both EUR/USD and GBP/USD reversed their climbing Friday despite the Markit report private sector business growth in the euro-zone hit its fastest pace for more than three years. Both pairs are higher currently. Both AUD/USD and USD/JPY reversed their climbing Friday with both Australian dollar and yen higher against the Greenback currently.

Stock market news

Indices	Change
Dow Jones Index	+0.17%
Nikkei Index	+0.64%
Hang Seng Index	+0.04%
Australian Stock Index	+0.35%

Futures on US equity benchmarks are higher currently ahead of Federal Reserve Board Governor Lael Brainard’s online speech on digital currencies at the virtual Conference by CoinDesk Consensus at 15:00 CET today. The three main US stock benchmarks recorded daily returns ranging from -0.5% to 0.4% Friday with SP500 posting its first back-to-back weekly losses since February amid continued inflation fears and positive global growth expectations.

European stock futures are up currently after ending higher on Friday led by auto shares. European exchanges are mostly closed today for Whit Monday. Asian indexes are mostly higher today with Shanghai Composite leading gains.

Commodity market news

Commodities	Change
Brent Crude Oil	+1.27%
WTI Crude	+0.94%

Brent is rising currently after Iran officials said nuclear inspection deal has expired while talks continue. Prices advanced on Friday after three consecutive daily losses, driven higher as a storm formed in the Gulf of Mexico. West Texas Intermediate (WTI) futures gained 2.6% and is higher currently. July Brent crude added 2% to $66.36 a barrel on Friday.

Gold market news

Metals	Change
Gold	+0.05%
Silver/US Dollar	+0.64%

Gold prices are edging higher today. June gold lost 0.3% settling at $1876.70 on Friday, halting a streak of six consecutive daily gains. However, it posted a third weekly climb rising 2.1% for the week.

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Author

Dmitry Lukashov

IFC Markets

Dimtry Lukashov is the senior analyst of IFC Markets. He started his professional career in the financial market as a trader interested in stocks and obligations.

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