S&P 500 +0.44% Nasdaq Composite +0.58% The latest catalyst for the push into new all-time highs was yesterday’s Axios report saying that US and Iranian negotiators have reached an agreement on a 60-day memorandum of understanding to extend the ceasefire and launch negotiations on Iran’s nuclear program, but President Trump has yet to give his final approval. The most…
China NBS Non-Manufacturing PMI came in at 50.1, above forecasts (49.5) in May
Full report here The Trump administration is preparing a proposal that would significantly tighten automotive sourcing requirements under the US-Mexico-Canada Agreement (USMCA), potentially requiring that half of all components and materials used in a vehicle originate from the United States in order to qualify for the trade pact’s preferential tariff treatment, according to a report by The Wall Street…
China NBS Manufacturing PMI meets forecasts (50) in May
If you trade XAU/USD, gold CFDs, gold futures, or gold ETFs, here’s a deeper dive into what moved gold this week and what to watch going into next week. Gold came into this week already limping. Three straight weekly losses. Trading below both the 20 and 50-day moving averages. A Fed pondering rate hikes and inflation rising.
Sector Overview Today’s stock market heatmap reveals a divergent performance across sectors, with notable strength in technology and pronounced weakness in communication services. 📈 Technology: Leading the charge, the technology sector showcases robust figures. Nvidia (NVDA) gains 0.81%, Micron Technology (MU) soars by a significant 5.01%, and Oracle (ORCL) impresses with a 6.13% rise. Microsoft (MSFT) also enjoys a…
United States CFTC Gold NC Net Positions fell from previous $159.8K to $154.3K
Here’s the honest gut-check on this week: Sunday’s cheat sheet called this a coin-flip between a muddle-through base case and a risk-off PCE shock that would end the S&P 500’s winning streak. What we got instead was something closer to the scenario that carried the worst odds — the Risk-On case at 25%. Traditional risk assets largely moved…
MON: Global Manufacturing Final PMIs (May), South Korean Balance of Trade (May), German Retail Sales (Apr), Swiss Retail Sales (Apr), GDP (Q1), EZ Unemployment Rate (Apr), US ISM Manufacturing (May) TUE: NBP Policy Announcement (Jun), South Korean CPI (May), EZ HICP (May), JOLTs Job Openings (Apr), RCM/TIPP Economic Optimism, New Zealand Export/Import Prices (Q1) WED: Fed Beige Book, Global…
United States CFTC Oil NC Net Positions down to 161K from previous 172.6K
