Financial News

French industrial production increased by 0.8% in April. However, a fall in the production of motor vehicles and food & beverages will draw interest.

The activity in the manufacturing sector contracted for the seventh consecutive month as high interest rates put pressure on businesses.

U.S. labor market surprises with strong job growth in May, beating estimates and indicating resilience.

German Manufacturing PMI numbers for May sent a gloomy signal, with new orders tumbling to fuel economic uncertainty,

This morning the China Caixin Manufacturing PMI supported riskier assets. A return to growth was key following the disappointing NBS numbers.

Salesforce beats earnings and revenue estimates, but stock price falters on higher capital costs.

The probability of a 25 bps rate hike at the next Fed meeting increased from 54.8% to 69.9% after the release of the report.

ECB warns that higher interest rates are testing the resilience of households, companies, and property markets, increasing the risk of disorder.

Turkey’s economy remains exposed to a disorderly adjustment following President Recep Tayyip Erdoğan’s election victory, putting pressure on the lira and the country’s external accounts.

It was a busy morning, with China private sector PMI and Australian inflation numbers in focus. A deeper contraction in the manufacturing sector will be a concern.

HP’s Q2 revenue of $12.91B falls short as PC market slowdown and reduced demand affect global PC shipments.

SP500 is mostly flat today as traders wait for additional catalysts.

U.S. house prices rise 4.3% in Q1 2022-2023, but Western states face decline after a decade of growth.

Treasury yields have started to pull back after the recent rally, providing support to precious metals markets.

Manufactured durable goods orders show second consecutive monthly increase, while US deficit shrinks in March.

PCE price index rises, reflecting increased prices for goods and services, excluding food and energy.

UK retail sales rebounded in April. Following hotter-than-expected core inflation numbers, the BoE may need to consider a more hawkish outlook.

Australian retail sales figures disappointed this morning, reflecting the effects of elevated inflation and the interest rate environment on consumption.

Costco earnings fall short amid reduced consumer spending, while Gap reports losses but progresses with margin improvement and cost-cutting.

The National Association of Realtors believes that a sizeable increase in housing inventory is needed to boost the market.