Global Markets:
- Asian Stock Markets : Nikkei down 1.12%, Shanghai Composite down 1.26%, Hang Seng up 2.33% ASX down 0.73%
- Commodities : Gold at $5,188.76 (2.12%) Silver at $87.140 (5.83%), Brent Oil at $70.54 -(1.07%), WTI Oil at $65.71 (-1.14%)
- Rates : US 10-year yield at 4.068, UK 10-year yield at 4.3560, Germany 10-year yield at 2.7385
News & Data:
- (USD) Advance GDP q/q 206K to 223K expected
- (USD) Core PCE Price Index m/m 206K to 223K expected
Markets Update:
Asian stock markets are trading mostly higher on Monday, supported by positive cues from Wall Street on Friday. Investor sentiment improved after the U.S. Supreme Court struck down most of former President Donald Trump’s global tariffs, ruling that the International Emergency Economic Powers Act (IEEPA) does not authorize such measures. Traders also remained cautious while monitoring geopolitical tensions between the U.S. and Iran. Asian markets had closed mostly lower on Friday.
In Australia, the benchmark S&P/ASX 200 Index is down 21.30 points, or 0.24 percent, at 9,060.10, while the broader All Ordinaries Index is lower by 0.17 percent. Weakness in energy and technology stocks is partly offset by gains in gold miners. BHP Group and Mineral Resources are higher, while Rio Tinto and Fortescue are slightly lower. Energy stocks, including Santos and Origin Energy, are declining, while gold miners such as Evolution Mining and Northern Star Resources are advancing.
Across Asia, Hong Kong and Taiwan are leading gains, while other regional markets are modestly higher. Japan is closed for a holiday. On Wall Street, the Nasdaq, S&P 500, and Dow all ended higher on Friday, reflecting optimism among investors. European markets also finished stronger. Meanwhile, crude oil prices were steady near six-month highs, and the Australian dollar is trading around $0.710.
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