US FED people had shown strong trust in the US economy in their last FOMC meeting and it gives strength to the market in healthy ways.
However, FED will raise the rate in Jun and July another 0.5% or more but that’s the point we’ve all talked about and agreed on.
So, there was not any big surprise on the MAY FOMC meeting note at all.
Because of this positive FOMC meeting note, most of the global stock market surged nicely but Asian markets were all doomed once again because of a possible extension of the Chinese lockdown.
No one is seriously talking about lifting the lockdown in Shanghai anymore.
Today, in the US equity market, the DJ index was up 0.6%, S&P 500 Index was up 0.9% and NASDAQ was up 1.5%.
Mega tech stocks were leading today’s move.
Apple was up only 0.1% but MS was up 1.1%, Amazon was up 2.6% and Tesla was up 4.9%.
US Dollar index has been recovered today, up 0.39%, ending at 102.11 points. A recent consecutive down move has ended today. As US Dollar recovered, the Spot Gold price retreated a bit, downing 0.6%, ending at $1,853 per ounce.
The crude oil market was sidelined once more. It seems like this market is losing all the wilderness recently.
Cruel reality ruled this market instead of idealistic political dreams.
Let’s count some factors, 1) Russians cannot win this stupid war 2) Western European countries can’t let Russian oils just go away 3) US economic sanctions don’t really mean anything to Putin anyway 4) Iran people would not move until they see who’s winning at the end 5) Chinese really wants to buy Russian oil at cheap price but they are not so sure how much they…
