Asia Markets Mixed, Europe Advances, Gold And Dollar Slip Further - Global Markets Today While US Slept

On Thursday, June 26, U.S. markets closed higher as easing geopolitical tensions and supportive economic data boosted hopes for Federal Reserve rate cuts this year. Major indexes advanced in a broad rally, edging the S&P 500 and Nasdaq closer to record highs.

Bank stocks led gains after a regulatory proposal, while Fed officials signaled openness to easing. Mixed economic signals, including weak consumer spending and strong orders, fueled speculation about the timing of rate cuts.

According to economic data, the U.S. first-quarter GDP was revised down to -0.5% from -0.2%, driven by a larger trade deficit from weaker exports. However, May factory orders jumped 16.4% to $343.6 billion, the biggest monthly gain since 2014, far exceeding expectations. Weekly jobless claims dropped by 10,000 to 236,000, defying forecasts of no change and signaling ongoing strength in the labor market.

Most S&P 500 sectors rose, led by communication services, consumer discretionary, and energy. Real estate and consumer staples declined.

The Dow rose 0.94% to 43,386.84, the S&P 500 was up 0.80% at 6,141.02, and the Nasdaq gained 0.97% to 20,167.91.

Asia Markets Today

On Friday, Japan’s Nikkei 225 closed 1.42% higher at 40,145.50, led by gains in the Real Estate, Banking, and Textile sectors.

Australia’s S&P/ASX 200 was down 0.43% at 8,514.20, led by losses in the Financials, Healthcare, and A-REITs sectors.

India’s Nifty 50 was up 0.37% at 25,640.40, and the Nifty 500 gained 0.44% to 23,621.45.

China’s Shanghai Composite was down 0.70% at 3,424.23, and Shanghai Shenzhen CSI 300 fell 0.61% to 3,921.76.

Hong Kong’s Hang Seng closed the session 0.17% lower at 24,284.15.

Eurozone at 05:45 AM ET

The European STOXX 50 index was up 0.97%.

Germany’s DAX index gained 0.83%.

France’s CAC 40 rose 1.41%.

U.K.’s FTSE 100 index traded higher by 0.54%.

European stocks rose on U.S.-China trade progress and Middle East ceasefire optimism.

Commodities at 05:45 AM ET

Crude Oil WTI was trading higher by 0.72% at $65.71/bbl, and Brent was up 0.61% at $67.10/bbl.

Oil prices increased Friday but were on track for their biggest weekly drop since March 2023, as easing geopolitical tensions erased risk premiums. Focus shifted back to supply-demand fundamentals, with support from falling inventories and strong Chinese imports.

Natural gas rose 2.75% to $3.623.

Gold traded lower by 1.47% to $3,298.62, Silver fell 2.26% to $35.755, and Copper declined 1.34% to $4.9955.

Gold fell to a near four-week low as the Israel-Iran ceasefire reduced safe-haven demand and investors awaited key U.S. inflation data.

U.S. Futures

At 05:45 AM ET, the Dow Jones futures rose 0.24%, the S&P 500 gained 0.23%, and the Nasdaq 100 was up 0.31%.

Forex

At 05:45 AM ET, the U.S. Dollar Index declined 0.04% to 97.26, USD/JPY was up 0.01% to 144.44, and USD/AUD gained 0.10% to 1.5290.

The U.S. dollar neared multi-year lows as markets priced in deeper rate cuts and a possible dovish Fed chair replacement.

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