Let’s see what happened today. A lot of big things have happened. Russia have agreed on extending the Black Sea Grain Exports Program today.
It seems like Biden and Republicans have agreed on USA’s debt ceiling issue today. Somehow, USA’s local banks issue showed big progress, stock prices are rallying and deposits are growing.
President Biden is going to meet President Xi.
So, it was what a day…Now, we need to see what’s going to happen in G7 meeting.
US stock markets were rallying big today. A couple of bullish factors on the market. It seems like USA is not going to default for now and there were some progress on local bank issues.
DJ Index was up 1.2%, S&P 500 Index was up 1.2% and NASDAQ Index was up 1.3% today.
Apple was up 0.4%, MS was up 1.0%, Amazon was up 1.9% and Tesla was up 4.4%.
Two factors have changed the market today but any fundamental improvements here?
Market analysts don’t see anything good in near future and we can see that coming with some numbers of Target and Home Depot. It will be grim future for the most of retailers in USA.
So, it looks like everything is getting better but it more like opioid painkiller.
US Dollar index surged big today.
No more default issues for now, some hope of regional US small bank issues are pushing US dollar values to the upside today. US Dollar index surged 0.3% today and ended at 102.85 points.
That’s the 7 week high and Euro, JPY, Pound and even Chinese Yuan were downed big against US Dollar today.
Gold was downed as well, ending at $1,982.41 per Oz today, another 0.3% down.
Understandable changes and mostly predictable changes but not ultimate solutions for all.