Global Markets:
- Asian Stock Markets : Nikkei up 3.57%, Shanghai Composite up 1.56% Hang Seng up 2.03% ASX up 1.94%
- Commodities : Gold at $4,221.65 (2.60%) Silver at $67.268 (5.12%), Brent Oil at $88.83 (-1.69%), WTI Oil at $86.33 (-1.65%)
- Rates : US 10-year yield at 4.463, UK 10-year yield at 4.9100, Germany 10-year yield at 3.0257
News & Data:
- (USD) Core PPI m/m 0.4 % to 0.5% expected
Markets Update:
U.S. stock futures moved slightly higher on Thursday night as investors prepared for SpaceX’s highly anticipated Nasdaq debut on Friday. Futures linked to the S&P 500 and Nasdaq 100 gained about 0.2%, while Dow futures rose 59 points.
Wall Street posted strong gains on Thursday, driven by a rebound in semiconductor stocks and optimism surrounding a potential U.S.-Iran peace agreement. The S&P 500 climbed 1.75%, the Nasdaq Composite surged 2.54%, and the Dow Jones Industrial Average advanced nearly 930 points.
Asian markets also rallied. South Korea’s Kospi jumped 7.01%, Japan’s Nikkei 225 gained 3.4%, and Australia’s S&P/ASX 200 rose 1.54%.
President Donald Trump said a deal with Iran could be signed soon, adding that it would ensure Iran never obtains a nuclear weapon. Earlier, markets were boosted after Trump announced he had canceled planned strikes on Iran.
Investors are now focused on SpaceX’s blockbuster IPO. The company plans to list under the ticker SPCX at $135 per share, valuing the rocket maker at approximately $1.77 trillion. SpaceX aims to raise $75 billion through the sale of 555.6 million shares, making it the largest IPO in history.
While the offering could provide fresh momentum for equities, some analysts warn that its massive size may temporarily pressure markets. Investors will also monitor the preliminary June reading of the Michigan Consumer Sentiment Index for further clues on economic conditions.
Upcoming Events:
- 02:00 PM GMT – USD Prelim UoM Consumer Sentiment
