- The first session on Wall Street in the new trading week brings gains in the quotations of almost all indices. The technology Nasdaq gains 0.6%, the S&P500 adds 0.2%, and the Russell 2000 rises 0.35%. Nearly 0.25%, however, is observed on the Dow Jones index.
- The US banking sector is trading under downward pressure today. In particular, JP Morgan's shares are performing poorly, sliding 2.8% after comments from the bank's CEO, Jamie Dimon. The CEO admonished that at the current valuation of the bank's shares, space for share buybacks is limited.
- The session in Europe also ended higher for most major stock indices. Germany's DAX gained 0.33% today, France's CAC40 added 0.35%, and Britain's FTSE 100 was up 0.05%.
- In the currency market, the British pound is currently doing best. Elevated supply pressure, however, is seen on Antipodean currencies and the Japanese yen.
- U.S. natural gas futures (NATGAS) are gaining nearly 3% today due to forecasts of higher temperatures, which could increase demand for electricity generated through gas-fired power plants.
- Gold reached new historic highs today at $2450 per ounce. Increased expectations for downgrades and high uncertainty about the situation in the Middle East after the helicopter crash with the Iranian president.
- Silver also gained strongly, although volatility was quite high throughout the day. In the end, silver traded above $32 per ounce at the end of the day, the highest since 2013. Silver gains more than 2% today.
- Copper is reaching new historic highs near the $11,000 per ounce level. This is a result of dollar weakness, high speculators' positioning, China's real estate market stimulation, uncertainty over BHP's acquisition of Anglo American's copper assets, and a reduction in refined copper production in China.
- Oil started the day with gains and WTI crude tested the area around $80 per barrel, which may be related to the situation in the Middle East. On the other hand, at the end of the day, oil negated all of Friday's growth and lost 0.8%.
- In the cryptocurrency market, we are seeing sizable gains. Bitcoin has knocked out the psychological barrier of $68,000 and thus climbed to the highest levels seen since the first half of April this year. Ethereum is up nearly 2%.
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