- Wall Street indices traded pulled back slightly from record highs yesterday. S&P 500 dropped 0.21%, Dow Jones ticked 0.10% lower and Nasdaq declined 0.26%. Small-cap Russell 2000 finished over 0.6% lower
- Indices from Asia-Pacific trade mostly lower today - Nikkei drops 0.4%, S&P/ASX 200 declines 0.8%, Kospi slumps 0.9%, while Nifty 50 gains 0.3%. Indices from China trade mixed
- DAX futures point to a lower opening of the European cash session today
- Speaking on this week's inflation reading, Fed Bostic said that one data point is not a trend. Bostic is pleased with inflation progress but stresses that Fed is not there yet
- Bank of America still expects first Fed rate cut to come in December, in spite of this week's inflation print
- BoJ Governor Ueda said there are no immediate plans to sell Bank of Japan's ETF holdings
- ECB Schnabel said that June meeting could be appropriate for a rate cut but the path afterwards is much more uncertain
- According to Wall Street Journal report, Microsoft asked cloud-computing and AI operational staff to consider relocating outside of China amid tense US-China relations
- Chinese industrial production increased 6.7% YoY in April (exp. 5.4% YoY), retail sales were 2.3% YoY higher (exp. 3.8% YoY) and urban investments climbed 4.2% YoY (exp. 4.6% YoY)
- New Zealand's PPI inflation accelerated from 0.7% QoQ in Q4 2023 to 0.9% QoQ in Q1 2024
- Major cryptocurrencies are trading slightly higher today - Bitcoin gains 0.1%, Ethereum trades 0.3% higher and Ripple adds 0.2%
- Energy commodities trade slightly higher - oil gains 0.2%, while US natural gas prices climb 0.4%
- Gold, silver and platinum gain around 0.1% today, while palladium drops 0.9%
- USD and CAD are the best performing major currencies, while JPY and CHF lag the most
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