Financial Markets Daily Report 03 June 2021
Wall Street's main indexes closed little changed as investors weighed inflation concerns and a fresh surge in so-called "meme stocks" : AMC jumped 97.44%. European equities closed at another record high amid hopes of a strong economic rebound that boosted cyclical stocks.
- Wall Street's main indexes closed little changed as investors weighed inflation concerns and a fresh surge in so-called "meme stocks" : AMC jumped 97.44%. European equities closed at another record high amid hopes of a strong economic rebound that boosted cyclical stocks.
- The Fed reported in its Beige Book that the growth was at a "somewhat faster rate" and benchmark Treasury yields were modestly lower, trading within a tight range. Investors held off from making big moves ahead of monthly federal jobs report on Friday.
- Oil prices extended their rally and closed at maximum since October 2018. An industry report pointed to a decline in U.S. crude inventories and reinforced optimism over the demand recovery.
- On the economic calendar, today the key data to watch are the ADP employment and services PMI in Europe and U.S.