Hi good morning and a warm welcome, I am Sage and you are watching kalkine tv live from
Sydney. This is the global markets roundup. Lets look at the US market updates first.
All benchmark US indices closed higher on Thursday, June 10, after investors appeared
to have ignored new labor data, which showed that consumer prices surged to a record 13-year
high in May.
The S&P 500 rose 0.47 per cent to 4,239.18. The Dow Jones gained 0.06 per cent to 34,466.24.
The NASDAQ Composite was up 0.78 per cent to 14,020.33, and the small-cap Russell 2000
shed 0.68 per cent to 2,311.41.
The US Consumer Price Index (CPI), a critical gauge of change in the prices of goods and
services over time, jumped 5 per cent in May, the highest increase since August 2008,
the Labor Department said Thursday. It also noted that jobless benefit claims continue
to decline as the economy recovers.
Markets seemed to have embraced the positive news and ignored the inflation worries, apparent
from the absence of any sign of stress or withdrawal from stocks in intraday trade.
Major segments of the S&P 500 saw positive gains in Thursday’s session, which ticked
up to a record high after real estate and communication stocks rallied. Conversely,
the industrials were the bottom movers.
Meanwhile, a US House Committee on Thursday approved additional spending of US$547 billion
in surface transportation projects for the next five years in a majority vote of 38 to
26. It is aimed at fixing the dilapidated roads and bridges and improving the rail network.
Lets look at the newsmakers.
The technology stocks bounced back on Thursday after a lacklustre show over the
past few days. The stock of cybersecurity company CrowdStrike Holdings, Inc. (CRWD)
soared 6.65 per cent, while technology giants Amazon.com Inc. (AMZN) gained 1.60 per cent
and Microsoft Corp. (MSFT) gained 1.19 per cent.
Also, the shares of automotive financing company Consumer Automotive Finance, Inc. (NWAU) jumped
37.5 per cent. Electric vehicle maker, Tesla, Inc. (TSLA), gained 1.71 per cent, and fintech
company, Square Inc. (SQ), was trading 3.3 per cent higher from the previous close.
Meme stocks pushed back after consecutive rallies in the previous sessions. The GameStop
Corp declined 29.8 per cent, while the AMC Entertainment Holdings Inc. plummeted 14.4
per cent. Clover Health Investments Corp. (CLOV) ) fell 14.13 per cent and GEO Group,
Inc. (GEO) fell 19.60 per cent.
Healthcare, real estate, consumer cyclicals, and technology segments were the biggest gainers,
while financials, basic materials, and industrials were the bottom movers.
Moving on to the Top Gainers and Top Losers
Top performers on S&P 500 included Organon & Co (6.61 per cent),
ServiceNow Inc (5.25 per cent),
Enphase Energy Inc (4.77 per cent),
Align Technology Inc (4.55 per cent).
On NASDAQ, top performers were Orphazyme A/S (302.30 per cent),
Trxade Health Inc (63.48 per cent),
Sphere 3D Corp (60.50 per cent),
Galecto Inc (60.00 per cent).
On Dow Jones, Walgreens Boots Alliance Inc (3.52 per cent),
Merck & Co Inc (2.84 per cent),
Amgen Inc (2.14 per cent),
Cisco Systems Inc (1.87 per cent) were the leaders.
Top laggards on S&P 500 included Nielsen Holdings PLC (-4.69 per cent),
SVB Financial Group (-4.67 per cent),
NVR Inc (-3.96 per cent),
Caterpillar Inc (-3.80 per cent).
On NASDAQ, Aethlon Medical Inc (-36.05 per cent),
Ocugen Inc (-28.14 per cent),
KLX Energy Services Holdings Inc (-24.20 per cent),
Jiuzi Holdings Inc (-20.17 per cent).
On Dow Jones, Caterpillar Inc (-3.80 per cent),
Goldman Sachs Group Inc (-2.31 per cent),
JPMorgan Chase & Co (-1.56 per cent),
Dow Inc (-1.23 per cent) were the laggards.
And now, before we take more trending updates, its time for a short break.
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Hi good morning and a warm welcome, I am Sage and you are watching kalkine tv live from
Sydney. This is the global markets roundup. Before the break we were discussing US market
updates.
Lets look at the Volume Movers
Top volume movers were Apple Inc (17.59M),
Pfizer Inc (11.30M),
Ford Motor Co (11.15M),
Intel Corp (10.62M),
AT&T Inc (9.91M),
Bank of America Corp (9.46M),
General Electric Co (8.80M),
Exxon Mobil Corp (7.43M),
Trade Health Inc (24.40M),
Clover Health Investments Corp (23.47M),
Ocugen Inc (20.74M),
Sphere 3D Corp (18.32M),
Sundial Growers Inc (15.95M),
ContextLogic Inc (15.71M),
Naked Brand Group Ltd (11.26M).
And now, lets glance at some important updates from the Futures, Commodities and Bond Market
Gold futures were up 0.31 per cent to US$1,901.30 per ounce. Silver increased 0.46 per cent
to US$28.130 per ounce, while copper was down 0.90 per cent to US$4.4900.
Brent oil futures remains same at US$72.30 per barrel and WTI crude was up 0.20 per cent
to US$70.10.
The 30-year Treasury bond yields were down 1.77 per cent to 2.130, while the 10-year
bond yields decreased 3.50 per cent to 1.437.
US Dollar Futures Index slightly decreased 0.09 per cent to US$90.043.
Well, after the US market, lets look at some important updates from the UK Market: The
London markets traded on a mixed note after the US inflation figures came out to be more
than the expectations. Moreover, the annual inflation rate had increased to 5.0 per cent
during May 2021, while it was 4.2 per cent in April 2021.
Auto Trader Group shares surged by about 6.30 per cent after the Company had reinstated
the dividend payments. Moreover, the business performance was boosted by the dramatic shift
in the consumer behaviour of making online purchases of cars.
FTSE 100 listed BT Group stated that multibillionaire telecom dealer Patrick Drahi had purchased
a 12.1 per cent stake in the Group through Altice UK. Moreover, the shares grew by approximately
7.24 per cent and remained the top performer on the FTSE 100 index.
CMC Markets shares went up by around 0.92 per cent after the Company had reported an
impressive 127 per cent growth in full-year profits boosted by the elevated levels of
volatility amid the pandemic.
Mitie Group stated that FY22 profit would remain ahead of the prior expectations. Furthermore,
the shares climbed by about 5.22 per cent.
Top 3 Volume Stocks in FTSE 100*: Lloyds Banking Group Plc (LLOY); BT Group Plc (BT.A); Vodafone
Group Plc (VOD).
Top 3 Sectors traded in green*: Technology (+2.53 per cent), Healthcare (+1.43 per cent)
and Energy (+0.46 per cent).
Top 3 Sectors traded in red*: Consumer Cyclicals (-1.36 per cent), Real Estate (-1.04 per cent)
and Industrials (-0.65 per cent).
Currency Rates*: GBP to USD: 1.4169; EUR to GBP: 0.8593.
And now, before we take more trending updates, its
time for a short break.
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Hi good morning and
a warm welcome, I am Sage and you are watching kalkine tv live from Sydney. This is the global
markets roundup.
Lets now explore market closer at home.
The Australian and the New Zealand dollars were seen testing their lower levels as a
consistent decline in the bond yields undermined their rate advantage ahead of US inflation.
The Aussie last traded at $0.7732, after running into resistance at $0.7765 overnight. The
Kiwi dollar was up 0.2 per cent, to $0.7189.
One sector that fuelled Wall Street’s rally was tech space. The 10-year Treasury yield,
which often rises with inflation, fell to a three-month low, far below its recent peak
of 1.75 per cent, helping technology shares or growth shares in general to outperform.
Shares such as Afterpay Limited, Zip Co Limited and Xero Limited could see outperformance
in today’s session.
Crude oil prices ticked up on Thursday to their highest level in more than two years
in a volatile trading session. After new US unemployment claims fell to their lowest since
the COVID-19 pandemic began, the optimism for strong economic recovery helped fuel demand
for crude oil.
Australian energy shares such as Origin Energy Limited, Woodside Petroleum Limited and Beach
Energy Limited could open higher today.
In the yellow metal space, On Thursday, gold prices inched up after data showed US consumer
prices increased more than expected last month but eased fears over the central bank tapering
its monetary support. Australian gold miners such as Silver Lake Resources Limited, Northern
Star Resources Limited and De Grey Mining Limited could also trade with an uptick today.
Moving on to the next news. On Thursday, iron ore prices advanced as benchmark steel futures in
Shanghai rose for a second consecutive day. However, gains were capped as China reiterated
its goal to rein in commodity inflation.
The most active iron ore futures for September month delivery on China's Dalian Commodity
Exchange closed 0.7 per cent higher at 1,178 yuan (US$184.53) per tonne.
Copper prices fell on Thursday, pressured by signs of sluggish demand for the red metal
from top metals consumer China and its efforts to curb surging prices for base metals. The
benchmark three-month copper futures contract on the London Metal Exchange (LME) eased 0.9
per cent to US$9,889 a tonne by 1555 GMT, close to its lowest since late April 2021.
Local miners to keep on the radar are Fortescue Metals Group Limited, Rio Tinto Limited and
BHP Group Limited.
Alright then, that’s all for now. Stay tuned with Kalkine TV for more live market updates. We
will be back with more news on markets, economy and diverse themes and sector.