S&P 500, NASDAQ, and Dow Were Flat on June 22
After falling for two consecutive trading days, the S&P 500 was mixed on June 22 and ended the day almost flat.
After testing and closing below the important level of 12,800, Germany’s DAX Index pulled back on June 23. German manufacturing PMI data didn’t support DAX.
After falling from two-week high price levels on June 22, China’s Shanghai Composite Index started lower on June 23. It gained strength and closed positive.
Qatar’s exports stood at 20.2 billion riyals in May 2017—an increase of 8% compared to a fall of 5% in the previous month.
Qatar was expected to grow at a faster pace in 2017. However, economic sanctions by its neighbors are expected to impact its economic activity in 2017.
Decades of cold war among GCC (Gulf Cooperation Council) members in the Middle East resulted in the Qatar crisis in 2017.
The S&P 500 opened higher on Wednesday but fell as the day progressed. On Wednesday, the S&P 500 VIX Index fell 1.0% to 10.75.
The FTSE 100 Index started on a weaker note amid weakness on Wall Street. At 7:15 AM EST on June 22, the index was trading at 7,418.75—a fall of 0.39%.
On June 22, the Shanghai Composite Index fell 0.28% and ended the day at 3,147.45. The SPDR S&P China ETF (GXC) rose 0.7% to $89.18 on June 21.
The US unemployment rate is close to the desired 4.5% and inflation has moved closer to the Fed’s target rate of 2.0%.
Yields in the shorter timeframe such as the two-year yield (SHY) and T-notes (SCHO) are rising more than the ten-year or the 30-year (TLT) yields.
Bond markets (BND) have been buzzing about the flattening US Treasury yield curve. In this series, we’ll explore what this means and how it’s becoming a concern for global markets.
The US Dollar Index lost momentum at the end of last week and closed the week almost flat. It started this week on a positive note.
Chipotle Mexican Grill’s revised guidance dented the market sentiment. Chipotle Mexican Grill fell more than 6% and started the day on a weaker note.
The S&P 500 opened lower on Tuesday and fell as the day progressed. On Tuesday, the S&P 500 VIX Index (CBOE Volatility Index) rose 2.2% to 11.10.
European markets opened lower on June 21 after overnight losses on Wall Street. Weakness in the energy and industrials sectors dragged US markets lower.
China’s Shanghai Composite Index pulled back last week amid concerns about China’s economic stability. It started this week on a stronger note.
Singapore’s manufacturing sector is expected to rise in line with global manufacturing activity, which has shown improvement so far in 2017.
As global economies continue to improve amid elevated geopolitical risks and policy uncertainty, Southeast Asian economies expect to remain resilient.
Economic growth in Singapore has slowed down over the years due to the global financial crisis of 2008. But global recovery since 4Q16 appears to be helping.