Ger30, UK100 and SP500 are CFD’s, written over the Dax30, Footsie100 and S&P500 Index futures:
In pre-opening, European markets traded on a positive note as investors wait for the publication of the US employment report and digested Donald Trump’s pulls out of global accord on Climate Change, thereby making the US one of the three countries , Along with Syria and Nicaragua, which are out of the accord. This exit from the accord will not be immediate, and the process of untying should not be completed before November 2020, the same month that should go to votes for his re-election.
On the first day of June, the North American market closed higher, with the Dow Jones, S & P500 and Nasdaq indices ending at record highs. Investors reacted to published economic indicators and remained expectant about the employment report that will be revealed today. The technological sector was among the best performers, thus confirming its strong performance since the beginning of the year, an appreciation of around 20% (compared to the second best performer, the cyclical consumer sector, which showed a gain of 12%). The ADP employment report showed that hiring in the private sector increased during May: the number of jobs in the private sector rose by 253 000, significantly above the expected 180 000. On the other hand, the number of weekly applications for unemployment benefits increased by 13,000 to 248,000, up from the expected 239,000, the highest level in the last five weeks, but reflecting normal behavior at times when there is a holiday. Oil prices fell again, although the Energy Department reported that weekly inventories of this raw material fell by 6.4 million barrels, a more than expected decline (-2.6 million barrels). At the current stage, markets place a high probability of a rate hike in June, but concerning the end of the year opinions are divided.
Asian stock markets ended higher, influenced by the Wall Street closure and investors waiting to see the US employment report.