Stable signals from global markets: interest rates cut in Europe for the first time after 5 years

Stable signals from global markets, mixed business in US. Dow Jones closed up 80 points with gains on the third day. Nasdaq, S&P 500 set new records for the second consecutive day in intraday. Slight fall due to profit booking after new record. Russell 2000 slipped 0.7%. Profit booking in NVIDIA shares from record high. 10 year bond yield flat near 4.3%. Let's look at the job figures for MAY today. Estimated to add 1.9 lakh new jobs. Unemployment is expected to reach 3.9%. Interest rates cut in Europe for the first time after 5 years. ECB reduced rates by 0.25%. Further situation depends on the data. No guarantee of another interest rate cut in July. Gold near $2400, $20 stronger in last session. Biggest intraday gain in silver in 1 year. Crude oil rises for the second consecutive day, Brent crude crosses $80. Base metals registered an increase of up to 2%.

Updated on: June 07, 2024, 11.00 AM IST
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