US shares continue their rout, losing between 0.26% and 0.56%, except for the heavy tech Nasdaq Composite, which pares some of its losses, up by 0.25%.
In terms of sector specifics, the leading gainers are Energy, up 1.9%, propelled by high oil prices, followed by Technology and Consumer Discretionary, each recording gains of 0.29% and 0.05%, respectively. Contrarily, Utilities, Consumer Staples, and Health are losing 3.04%, 1.68 %, and 1.2% each.
In the commodities complex, the US crude oil benchmark, WTI, is gaining 0.88%, trading at $122.00 BPD, while precious metals like gold (XAU\/USD) are falling 0.99%, exchanging hands at $1813.45 a troy ounce, as US Treasury yields, keep rising to multi-year highs.
US Fed expectations of a larger rate increase weighed on sentiment, so, US equities fell. The S&P 500 and the Dow Jones Industrial Average are slipping 0.26% and 0.56% each, sitting at 3,739.23 and 30,345.10, respectively, at the time of writing. Meanwhile, the Nasdaq Composite is rising 0.25%, up at 10,836.09.
In the meantime, the US Dollar Index advances to a fresh 20-year high at around 105.433, gaining 0.22%, on Tuesday. US Treasury yields remain elevated. The 10-year benchmark note rate is at 3.441%, up to six basis points, reflecting traders\u2019 expectations of a 75 bps rate hike.
Investors\u2019 mood remains negative, weighed by a Wall Street Journal news revealing that US Fed officials might surprise the markets with a larger than expected 0.75% bps rate hike.
US economic data crossing the wires were mixed, led by the rise in the Producer Price Index, which showed that prices surged in May by 10.8% YoY, though lower than expected, indicating that it\u2019s not slowing down, further cementing the Fed\u2019s rate hike.
The S&P 500 and the Dow Jones recorded losses in a risk-off market mood. The Nasdaq Composite is recovering some ground and remains above the 10,000 figure.<\/p>\n","protected":false},"excerpt":{"rendered":"
US shares continue their rout, losing between 0.26% and 0.56%, except for the heavy tech Nasdaq Composite, which pares some of its losses, up by 0.25%.In terms of sector specifics, the leading gainers are Energy, up 1.9%, propelled by high oil prices, followed by Technology and Consumer Discretionary, each recording gains of 0.29% and 0.05%, …<\/p>\n","protected":false},"author":13,"featured_media":61273,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[39,36],"tags":[7604,6902,6885,8143,7462,6901,7442],"class_list":["post-67062","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-global-stock-markets","category-market-updates","tag-dollar-index","tag-dow-jones","tag-fed","tag-interest-rate-hikes","tag-market-sentiment","tag-nasdaq","tag-us-shares"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/67062","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=67062"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/67062\/revisions"}],"predecessor-version":[{"id":67066,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/67062\/revisions\/67066"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/61273"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=67062"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=67062"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=67062"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}