[US market conditions]Stock rise, indicators and FOMC agenda summary-dollar 135 yen second half-Bloomberg

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In the US stock market on the 6th, the S & P 500 stock index continued to grow for 3 business days. The latest economic data suggests that the pace of growth has slowed slightly, and one view is that the hawkish policy stance in the agenda of the Federal Open Market Committee (FOMC) meeting in June is out of date. Spread in the club.

The S & P 500 stock index continued to rise and fall repeatedly during the day while digesting economic indicators, but eventually ended in the positive territory. The Nasdaq 100 index, which is centered on technology stocks, has also risen. So far, the constituents of the index have been sensitive to rising bond yields.

The US Treasury market has fallen and yields have risen sharply. Yields have increased since the announcement of the FOMC agenda. The agenda suggested a policy of continuing aggressive tightening to curb high inflation. Yields on 2-year and 10-year bonds remained reversed throughout the day.

The S & P 500 Index was 3845.08, up 0.4% from the previous day. The Dow Jones Industrial Average rose $ 69.86 (0.2%) to $ 31037.68. The Nasdaq Composite Index is up 0.4%. As of 4:15 pm New York time, the yield on US 10-year bonds has risen by 12 basis points (bp, 1bp = 0.01%) to 2.92%.

Attention was focused on the agenda of the June FOMC meeting in the market on that day. The meeting agreed that in order to prevent high inflation from taking root, it may be necessary to continue raising policy rates for a longer period of time, even if it involves a slowdown in economic growth. Meanwhile, market participants also note that the latest economic data has shown a slight slowdown in the pace of growth. Some believe that the agenda does not accurately reflect the current state of the economy.

FOMC Agenda, “More Suppressive” Interest Rates Possible-If Inflation Continues (1)

“Economic and inflation data, and the reaction in the bond markets, has become much more dovish since the last FOMC meeting,” said Jim Paulsen, chief investment strategist at the Loitholt Group. “All of them suggest that what the FOMC thought 30 days ago doesn’t mean much at this point,” he said.

US ISM Non-Manufacturing Industry Comprehensive Business Index, Low Level for the First Time in Two Years-Orders Soften (1)

The number of U.S. job vacancies is still near a record high-a decrease from the previous month, but labor demand remains firm (1)

In the foreign exchange market, the euro has expanded its decline. Traders are increasing the view that the euro is about to break the parity against the dollar amid concerns about a recession in the European economy.

The Bloomberg Dollar Spot Index, which shows the movement of the dollar against the 10 major currencies, rose 0.4%. As of 4:17 pm New York time, the euro was down 0.8% to 1 euro = $ 1.0184. The dollar is almost unchanged against the yen, and the dollar is 135.87 yen.

Euro falls and expands, approaching equivalence against the dollar-market officials say “I can’t buy”

New York crude oil futures prices continue to fall. North Sea Brent crude oil temporarily fell below $ 100 a barrel. Supply turmoil and tight market conditions continue, but the global economic slowdown has been more vigilant.

Brent futures fall below $ 100-since April 25-sold for recession concerns

Oil demand outlook is likely to be revised further down-Morse of Citi

The New York Mercantile Exchange (NYMEX) West Texas Intermediate (WTI) futures August contract ends at $ 98.53 a barrel, down 97 cents (1%) from the previous day. The North Sea Brent September contract for the London ICE is down $ 2.08 to $ 100.69.

New York gold futures have fallen for seven business days in a row. The spot hit a low for the first time in about nine months. Gold sales have become dominant as the dollar has been bought as a refuge asset as US monetary authorities continue to raise interest rates and concerns about recession grow.

The August contract for gold futures on the New York Board of Trade (COMEX) ends at $ 1736.50, down 1.6% from the previous day. The spot price was temporarily down 1.8% to $ 1723.33.