Market news

Show news:


05.06.2019 04:11

Major US stock indexes finished trading in positive territory

Major US stock indexes rose strongly against the backdrop of heightened hopes for lowering the Fed rates and signs of weakening trade tensions.

Fed Chairman Jerome Powell made it clear that the central bank is open to loosen monetary policy in order to save the economy. According to him, the Fed will "act properly" to support economic growth. Powell noted, however, that the Fed does not know “how or when” the trade conflict will be resolved. “We are closely following the implications of these events for the US economic outlook,” he added.

Comments by the Fed Chairman have heightened expectations for the Fed rate cut. The CME FedWatch tool showed that market participants see a 92 percent chance of a rate cut in September. The odds of a second rate cut in December exceeded 80%.

The market was also supported by official statements from Mexico and China. Mexican President Andres Manuel Lopez Obrador said he expects to negotiate with the United States on immigration before Washington realizes its threat of introducing tariffs.

The Chinese Ministry of Commerce stated that “differences and friction between the two parties” should be resolved through negotiations, which “should be based on mutual respect, equality and mutual benefit.” On Wall Street, these statements were taken as a sign that Beijing had weakened harsh rhetoric.

The focus of market participants was also the latest data on the United States. According to the report of the Ministry of Commerce, production orders fell by 0.8% in April after rising by 1.3% in March (revised from + 1.9%). Economists had expected orders to fall by 0.9%. The fall in production orders was caused by a decrease in orders for durable goods - by 2.1% after rising 1.7% in March. A sharp drop occurred as orders for transportation equipment fell by 5.9%.

Almost all the components of DOW finished trading in positive territory (28 out of 30). The growth leader was NIKE, Inc. (NKE; + 4.34%). Only shares of The Coca-Cola Co. have fallen. (KO; -0.21%) and Verizon Communications Inc. (VZ; -0.63%).

Almost all sectors of the S & P recorded an increase. The greatest growth was shown by the technology sector (+ 2.2%). Only the conglomerate sector decreased (-0.1%).

At the time of closing:

Dow 25,332.18 +512.40 +2.06%

S & P 500 2,803.27 +58.82 +2.14%

Nasdaq 100 7,527.12 +194.10 +2.65%


Keep up with latest Forex market news updates: Currencies, central banks, economic indicators for oil and gold trading – all you need to work effectively on Forex.

Market focus

  • German factory orders unexpectedly fell in October
  • BOJ's Harada says no need to take additional policy steps
  • Eurozone construction activity continues to grow in November
  • Eurozone GDP up by 0.2% during the third quarter, as expected
December 2019
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
  • 2010
  • 2009
  • 2008
  • 2007
  • 2006
  • 2005
  • 2004
  • 2003
  • 2002
Mon
Tue
Wed
Thu
Fri
Sat
Sun
1
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31

Forex is open 24 hours a day, 5 days a week (except national holidays), and it can be broken up to the following four regional markets: Australia and Oceania, Asia, Europe, and America. A Forex trading session opens at 23:00 GMT on Sunday in Japan and closes at 22:00 GMT on Friday in the USA.

 
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
Pacific Wellington 19:00 04:00 22:00 07:00 22:00 07:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
Sydney 21:00 06:00 00:00 09:00 00:00 09:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
Asian Tokyo 23:00 08:00 02:00 11:00 02:00 11:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
Hong Kong, Singapore 00:00 09:00 03:00 12:00 03:00 12:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
European Frankfurt, Zurich, Paris 06:00 15:00 09:00 18:00 9:00 18:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenCloseе
London 07:00 16:00 10:00 19:00 10:00 19:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
American New York 12:00 21:00 15:00 00:00 15:00 00:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
Chicago 13:00 22:00 16:00 01:00 16:00 01:00