by JustForex
The US stock indices remained at the same price levels. Investors are braced for the Consumer Price Index (CPI) report to be released on Thursday. In its turn, party disagreements regarding the G7 tax deal are growing in the US. Several high-ranking Senate Republicans criticized the US deal with the G7 countries to impose a global corporate tax of at least 15%. Republicans believe the deal is meant to tax big tech corporations such as Alphabet, Apple, Amazon, Google, Facebook, Microsoft, and others, which would hit the US economy and lead to a drain on tax revenues from the US Treasury to other countries.
European stock indexes traded mixed on Monday. The German DAX decreased by 0.1%, while the British FTSE 100 added 0.12%. The companies of the automotive manufacturers, as well as the banking sector, are the leaders of growth in Europe.
The US Treasury yields are currently at weekly lows. Considering the intensifying inflationary pressures, the current situation plays in favor of the rising prices of gold and other precious metals.
While oil futures reached $70, marking a 2-year high, the quotes fell on Monday. The possible arrival of Iranian oil barrels at the global market still plays a key role in curbing the rise in prices for “black gold.” Although many Wall Street traders are confident of reaching $100 a barrel by the end of next year. This year, the price of oil increased by more than 40%.
At the moment, the Asian stock indices show the same dynamics as the American ones. Indices are rising slowly, but inflationary pressures are restraining factors. Volatility is likely to remain below average until the US Consumer Price Index report.
Free Reports:
Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
Sign Up for Our Stock Market Newsletter – Get updated on News, Charts & Rankings of Public Companies when you join our Stocks Newsletter
Main market quotes:
S&P 500 (F) 4,226.52 -3.37 (-0.08%)
Dow Jones 34,630.24 -126.15 (-0.36%)
DAX 15,677.15 -15.75 (-0.10%)
FTSE 100 7,077.04 +8.18 (+0.12%)
USD Index 89.98 -0.16 (-0.18%)
- – Japan Gross Domestic Product (q/q) at 02:50 (GMT+3);
- – Germany ZEW Economic Sentiment (m/m) at 12:00 (GMT+3);
- – Eurozone ZEW Economic Sentiment (m/m) at 12:00 (GMT+3);
- – Eurozone Gross Domestic Product (q/q) at 12:00 (GMT+3);
- – US Trade Balance (m/m) at 15:30 (GMT+3);
- – Canada Trade Balance (m/m) at 15:30 (GMT+3).
by JustForex
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.
- This “Bullish Buzz” Reaches Highest Level in 53 Years Apr 26, 2024
- FastSpring and EBANX Forge Partnership to Expand Pix Payments for Digital Products in Brazil Apr 25, 2024
- Target Thursdays: NAS100, Robusta Coffee, USDCHF Apr 25, 2024
- QCOM wants to create competition in the AI chip market. Hong Kong index hits five-month high Apr 25, 2024
- Japanese yen hits all-time low as BoJ meeting commences Apr 25, 2024
- TSLA shares rose on a weak report. Inflationary pressures are easing in Australia Apr 24, 2024
- USDJPY: On intervention watch Apr 24, 2024
- Euro gains against the dollar amid mixed economic signals Apr 24, 2024
- PMI data is the focus of investors’ attention today. Turkey, Iraq, Qatar, and UAE signed a transportation agreement Apr 23, 2024
- Australian dollar rises on strong economic indicators Apr 23, 2024