Optimism lifts markets

AMERICAN MARKETS – MID DAY

Wall Street is close to new records at Mid Day. NASDAQ 100 climbs by 0.22% as Tesla lifts the index. In the Tech field, Sir Richard Branson completed its space trip with Virgin Galactic. After announcing a $500 million stock sale, the company shares tumbles by 15%. Broader S&P 500 takes 0.26% at 2:00PM while Dow Jones gains 0.30%. Albemarle jumps by more than 7%. After hitting 1.25% last week, the US 10Y yield increases to 1.36%. Neil Kashkari says the US will expect stronger labor market this fall. Moreover, the believes the country is about to experience the economic recovery. He adds the Fed should adjust monetary policy once the US reaches maximum employment.

EUROPEAN MARKETS – CLOSING

European markets closed higher on recovery optimism. Many shares see gains and major indexes close in the green. CAC 40, led by Sanofi, advances by 0.46% and concludes a 2-session winning streak. Atos stock is under the spotlight after the company downgraded its 2021 target. The stock tumbles by nearly 18%, to €43.28 (down by 42% YTD). Same pattern for German DAX. After surging on Friday, the German index soars by 0.65% and reaches a new all-time high. Delivery Hero tops the index with a 2.98% growth. In London, travel and energy stocks decline. As a result, FTSE 100 remains flat. England is expected to lift some covid-19 restrictions.

ASIAN PACIFIC MARKETS – CLOSING

Asia-Pacific markets rise as some economic optimism comes back among investors. In Japan, Nikkei 225 corrected losses from Friday and soared by 2.25% on better-than-expected machinery orders in May. On Chinese markets, the decision made by the Central Bank outweighs the sanctions applied by the US on Chinese companies. The PBoC cut reserve requirements to stimulate the economy. CSI 300 jumped by 1.25% but remains down YTD. Meanwhile, SSE Composite gained 0.67% today. KOSPI closed 0.89% after tracking gains from Wall Street. Indian CPI (YoY) reached 6.26% and captures attention from investors. Nifty 50 closed flat. Vietnamese shares plummeted.

COMMODITIES & FOREX MARKETS

  • Crude oil futures decline as coronavirus delta strain raises concerns
  • According to the Financial Times, the EU will raise taxes on polluting energy sources
  • EUR erases gains against GBP
  • BTC hasn’t been above $40K since June 16th

Focus on Comac C919

China develops its own fleet of passenger aircraft. The COMAC C919 includes foreign parts from companies like Honeywell, GE or Safran. This highlights the key relationship between the US and China

CAC 40 COMPOSITION DAILY PERFORMANCES

 

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