Market Talk June 26, 2023

ASIA:

The major Asian stock markets had a mixed day today:

• NIKKEI 225 decreased 82.73 points or -0.25% to 32,698.81
• Shanghai decreased 47.28 points or -1.48% to 3,150.62
• Hang Seng decreased 95.84 points or -0.51% to 18,794.13
• ASX 200 decreased 20.50 points or -0.29% to 7,078.70
• Kospi increased 12.10 points or 0.47% to 2,582.20
• SENSEX decreased 9.37 points or -0.01% to 62,970.00
• Nifty50 increased 25.70 points or 0.14% to 18,691.20

The major Asian currency markets had a mixed day today:

• AUDUSD increased 0.00010 or 0.02% to 0.66783
• NZDUSD increased 0.00290 or 0.47% to 0.61686
• USDJPY decreased 0.11 or -0.08% to 143.570
• USDCNY increased 0.02751 or 0.38% to 7.24301

Precious Metals:

• Gold increased 3.71 USD/t oz. or 0.19% to 1,925.07
• Silver increased 0.416 USD/t. oz or 1.85% to 22.831

Some economic news from last night:

Japan:

Corporate Services Price Index (CSPI) (YoY) remain the same at 1.6%

Some economic news from today:

Japan:

Coincident Indicator (MoM) remain the same at 0.1%

Leading Index decreased from 97.7 to 96.8

Leading Index (MoM) increased from -0.5% to 0.0%

EUROPE/EMEA:

The major Europe stock markets had a mixed day today:

• CAC 40 increased 20.93 points or 0.29% to 7,184.35
• FTSE 100 decreased 8.29 points or -0.11% to 7,453.58
• DAX 30 decreased 16.88 points or -0.11% to 15,813.06

The major Europe currency markets had a mixed day today:

• EURUSD increased 0.00122 or 0.11% to 1.09012
• GBPUSD increased 0.00034 or 0.03% to 1.27144
• USDCHF decreased 0.00212 or -0.24% to 0.89518

Some economic news from Europe today:

Germany:

German Business Expectations (Jun) decreased from 88.3 to 83.6

German Current Assessment (Jun) decreased from 94.8 to 93.7

German Ifo Business Climate Index (Jun) decreased from 91.5 to 88.5

US/AMERICAS:

The Biden Administration has announced a $930 million investment to expand and strengthen America’s high-speed internet networks as part of the Investing in America Agenda. The investment includes a $65 billion investment to expand affordable high-speed internet access across the US. The funding will provide high-speed internet access to people in rural areas, and the USDA will make additional investments for rural high-speed internet in the coming months. The administration has also announced over $73 million in outreach grants to connect more Americans with affordable, high-speed internet.

US Market Closings:

• Dow declined 12.72 points or -0.04% to 33,714.71
• S&P 500 declined 19.51 points or -0.45% to 4,328.82
• Nasdaq declined 156.74 points or -1.16% to 13,335.78
• Russell 2000 advanced 1.63 points or 0.09% to 1,823.26

Canada Market Closings:

• TSX Composite advanced 169.09 points or 0.87% to 19,587.32
• TSX 60 advanced 10.68 points or 0.91% to 1,180.75

Brazil Market Closing:

• Bovespa declined 734.15 points or -0.62% to 118,242.95

ENERGY:

The oil markets had a green day today:

• Crude Oil increased 0.403 USD/BBL or 0.58% to 69.563
• Brent increased 0.748 USD/BBL or 1.01% to 74.597
• Natural gas increased 0.0525 USD/MMBtu or 1.92% to 2.7815
• Gasoline increased 0.0102 USD/GAL or 0.41% to 2.5274
• Heating oil increased 0.0392 USD/GAL or 1.63% to 2.4463

The above data was collected around 12:38 EST on Monday

• Top commodity gainers: Cocoa (3.52%), Cotton (3.19%), Palm Oil (2.73%) and Lean Hogs (2.69%)
• Top commodity losers: Sugar (-1.65%), Cheese (-2.75%), Rubber (-1.06%) and Rhodium (-2.68%)

The above data was collected around 12:48 EST Monday.

BONDS:

Japan 0.35% (-1.7bp), US 2’s 4.74% (-0.006%), US 10’s 3.7251% (-1.39bps); US 30’s 3.82% (-0.0004%), Bunds 2.306% (-5.3bp), France 2.838% (-4.1bp), Italy 3.949% (-4.1bp), Turkey 16.21% (+40bp), Greece 3.559% (-4.1bp), Portugal 3.025% (-3.1bp); Spain 3.281% (-3.9bp) and UK Gilts 4.291% (-2.8bp).

The post Market Talk June 26, 2023 first appeared on Armstrong Economics.