- Wall Street indices trade lower today, although off the daily lows. S&P 500 drops 0.1%, Dow Jones gains 0.1%, Nasdaq adds 0.2% and small-cap Russell 2000 declines 0.6%
- Amazon gains over 3% today and climbs to fresh all-time highs above $193. Company's market capitalization also surpassed $2 trillion
- FedEx rallies over 14% after reporting solid fiscal-Q4 results and providing upbeat forecast for fiscal-2025. The company also expects to spend $2.5 billion on buybacks in 2025
- Whirlpool gains 15% after Reuters reported that Bosch is considering making an offer for the company
- Rivian Automotive surges over 20% after company announced partnership with Volkswagen, that includes $5 billion investment
- European stock market indices traded lower today - German DAX dropped 0.1%, French CAC40 moved 0.7% lower, UK FTSE 100 declined 0.3%, Spanish IBEX dropped 0.5%, Italian FTSE MIB declined 0.5% and Dutch AEX moved 0.4% lower
- Oil prices dropped after DOE report showed unexpected 3.59 mb build in oil inventories (exp. -3.0 mb), a 2.65 million barrel build in gasoline inventories (-1.1 mb) and distillate inventories dropping 0.38 million barrels (exp. -1.5 mb)
- However, oil has recovered from post-DOE declines later on and Brent is now trading 0.8% higher on the day
- US natural gas prices drop over 3% and trade at 3-week lows as weather forecasts suggest that heatwave in US may recede in near future
- Australian dollar traded higher after Australian CPI data for May turned out to be a hawkish surprise. Weighted CPI accelerated from 3.6 to 4.0% YoY (exp. 3.8% YoY)
- Japanese yen has been weakening against major peers and even verbal intervention from Japanese official provided just a brief relief. USDJPY moved above 160.00 mark today
- Japan's Kanda said he is seriously concerned about recent rapid weakness in JPY and that Japan will take appropriate steps on FX market as needed
- Martin Schlegel was appointed to become Swiss National Bank president after Jordan's term ends. Schlegel will take over effective from October 1, 2024.
- US new home sales plunged 11.3% MoM in May, to 619 thousand (exp. 633k)
- Cryptocurrencies are pulling back, with Bitcoin dropping 1.5% and Ethereum trading 1.6% lower
- Precious metals trade mixed - gold drops 0.8%, silver trades flat, platinum surges 2.8% and palladium slumps 1.9%
- AUD and USD are the best performing major currencies, while JPY and NZD lag the most
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