6.09 - are we witnessing a recovery?
What happened today in the markets one can say that it is a miracle as it hasn’t happened this week yet – the markets have extended their performance from the day before. Yes, yes. It is so rare that it become something note-worthy – the markets that have somewhat consistent performance for two days in a row. We just got so tired from lack of consistency that a stable growth or decline attracts our attention instantly.
This effect is felt all across the markets. In Asian major stocks and indices see recovery and even the ones that were falling yesterday are growing today. The extension of the growth comes as officials started talking the date for the trade talks. Of course this couldn’t help but boost our confidence in the evolvement of the trade war pretty soon.
On the other hand, it is weird – how fast our risk appetite can wake up and fall asleep as soon as things get a little bit rough. After the roller-coaster of trading emotions that we were treated to yesterday, greenback is laying low and waiting for the unemployment rate report as well as the preach of Jerome Powell in Zurich – both of these events are going to happen later today.
Other currencies seem to need a breather as well as it Is relatively calm in the markets today.
Trade tension easing up also has a pretty good effect on American stock market, where recoveries are finally attracting out attention. The surge of the giants can only suggest what is happening to the smaller companies. Is that a full-blown recovery we are witnessing?
Commodities are a little bit shy right now with neither big losses nor big gains marking the market today.
Here are the changes for today:
Dollar doesn’t exactly move.
Topix grew 0.2 percent.
Kospi grew 0.15 percent.
Shanghai Composite added 0.1 percent.
Hang Seng from Hong Kong rose 0.2 percent.
S&P 500 futures advanced 0.2 percent.
MSCI Asia Pacific rose 0.4 percent.
Dollar was barely changed against the basket of six major currencies.
Euro costs $1.1035.
Yen is at 106.98 per dollar point.
Apple grew 2 percent - $213.28.
Facebook added 2 percent – $190.9.
Amazon added 2.2 percent - $1840.72 per share.
Tesla recovered 4 percent - $229.58.
Google shares increased 2.5 percent - $1212.19.
WTI grew 0.05 percent - $56.32 per barrel.
Brent added 0.05 percent - $60.98 per barrel.
Gold increased 0.1 percent - $1526.7 per ounce.
Silver declined 1 percent - $18.63 per ounce.
Platinum lost 1.8 percent – $942.82.