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Wall Street indices finished yesterday's higher - S&P 500 gained 0.02%, Nasdaq moved 0.50% higher and Russell 2000 jumped 1.22%. Dow Jones was a laggard and dropped 0.42%
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No agreement on debt ceiling was reached during the meeting between US President Biden and House Speaker McCarthy yesterday. Nevertheless, both Biden and McCarthy say that default is off the table
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Joe Biden warned that United States may need to reduce spending
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Republicans say that there is lack of urgency from the White House
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Indices from Asia-Pacific traded mixed today - Nikkei and indices from China dropped, S&P/ASX 200 traded flat while Kospi and Nifty 50 gained
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European index futures trade little changed compared to yesterday's cash closing prices
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Fed Kashkari said that it is too early to declare banking problems are all over. He also added that Fed will not be able to protect economy from negative effects of default
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Russia said that its trade turnover with China may exceed $200 billion this year. Trade turnover between the two countries increased almost 30% in 2022, to $190.3 billion
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Japanese manufacturing PMI index jumped from 49.5 to 50.8 in May while services index moved from 55.4 to 56.3
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Australian manufacturing PMI index stayed unchanged at 48.0 in May while services gauge dropped from 53.7 to 51.8
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Cryptocurrencies are trading higher today - Bitcoin gains 1.8%, Ethereum trades 2.1% higher and Dogecoin adds 0.5%
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Energy commodities trade mixed - oil gains 0.1-0.2% while US natural gas prices drop 0.5%
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Precious metals are pulling back amid USD strengthening - gold and silver drop 0.6% while platinum trades 0.2% lower
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USD and CAD are the best performing major currencies while CHF and NZD lag the most
GOLD is pulling back amid USD strengthening today. Precious metals has almost fully erased Friday's jump and is approaching a $1,950 support zone. Source: xStation5
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