Wallstreet market:
Stocks on Wall Street gave up early gains and finished lower Friday, ending a three-week winning streak for the S&P 500.
A flurry of selling late in the day left the benchmark index 0.4% lower and in the red for the week. The Nasdaq composite fell 0.7%, while the Dow Jones Industrial Average ended 0.1% lower.
Despite the downbeat finish, the S&P 500 and the Nasdaq remain near their all-time highs.
Treasury yields rose in the bond market after initially losing ground following the latest signal of easing inflation. The yield on the 10-year Treasury, which influences interest rates on mortgages and other consumer loans, rose to 4.38% from 4.30% just prior to the release of the PCE data.
The S&P 500 closed out its final trading day of June with a 3.5% gain for the month. The index is up about 14.5% so far this year. The Nasdaq gained about 6% for the month and is up 18.1% this year.
European market:
European stock markets closed their weak month on Friday, with investors across the European Union (EU) unnerved by political uncertainties and economic challenges.
Germany, the Frankfurt Stock Exchange’s main index was down by 1.5 percent in June, while in Milan, the Italian Stock Exchange finished the month 3.9 percent lower.
European stocks were hurt in June by slowing economic growth across the EU as well as worries about ripples from the conflicts in Ukraine and Israel, as well as the impacts of the European Parliament elections in early June that saw opposition parties broadly gain power.
Asian market:
Asian shares gained Friday as traders looked ahead to a key report on inflation that could influence the Federal Reserve’s next move on interest rates
Japan’s benchmark Nikkei 225 rose 0.4% to 39,583.08. Australia’s S&P/ASX 200 rose 0.1% to 7,768.00. South Korea’s Kospi edged 0.1% higher to 2,787.51. Hong Kong’s Hang Seng added 0.3% to 17,767.93, while the Shanghai Composite surged 0.9% to 2,971.18.
Japan, the government reported industrial production was stronger than forecast in May at 2.8% and the unemployment rate was unchanged from the previous month at 2.6%
Commodities:
Gold prices steadied on Friday and were headed for a third straight quarterly gain after a key U.S. inflation report was broadly in line with expectations, boosting hopes that the Federal Reserve could cut interest rates by September.
Spot gold was steady at $2,326.47 per ounce. Prices have gained over 4% for the quarter.
Spot silver rose 0.3%, to $29.15 and platinum gained about 1%, to $997.13. Both metals were set for quarterly gains.
Forex:
The U.S. dollar slipped on Friday after data showed inflation in the world’s largest economy subsided last month, cementing expectations the Federal Reserve will start cutting interest rates this year.
The euro, down 1.3% against the dollar in June, was on track for its biggest monthly fall since January as political uncertainty weighed in the run-up to France’s general elections.
The GBP/USD pair reached 1.2642, reflecting an increase for the British pound of 0.17 %.GBP/USD edged higher to 1.2641, helped by data showing Britain’s economy grew 0.7% in the first three months of this year compared with the previous quarter, above an initial estimate of 0.6% growth.
EUR/USD fell 0.1% to 1.0695, with the euro weighed by more political uncertainty ahead of the start of the French elections this weekend.
USD/JPY traded 0.1% higher to 160.95, after briefly crossing the 161.00 level earlier in the session.
USD/CNY edged marginally lower to 7.2660, remaining close to its highest level since November. Focus was now on key Chinese PMI data, which is due over the weekend.
| TIME GMT + 4 | REGION | EVENTS | FORECAST | PREVIOUS |
| 16:00 | GER | German CPI (MoM) (Jun) | 0.1% | |
| 17:45 | U.S. | S&P Global US Manufacturing PMI (Jun) | 51.7 | 51.3 |
| 18:00 | U.S. | ISM Manufacturing PMI (Jun) | 49.2 | 48.7 |
| 18:00 | U.S. | ISM Manufacturing Prices (Jun) | 55.8 | 57.0 |
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