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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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US Equity Handover Are Trumps Mexico Tariffs a Bluff Stocks Think So

Article By: ,  Head of Market Research
June 5, 2019 5:10 PM


Headlines

  • US indices built on yesterday’s gains, with major indices tacking on nearly 1% today.
  • Energy stocks (XLE) were the weakest sector as oil prices dumped another 3% on a surprise build in inventories. Interest-rate sensitive REITs (XLRE) and utilities (XLU) each rose in excess of 2% today.
  • Today’s top-tier US data painted a mixed picture: The May ADP Employment report printed at just +27k, well below expectations of 185k and the lowest reading since 2010. On the other hand, the ISM Non-Manufacturing PMI rose to 56.9, above 55.4 expected. The widely watched employment component of the report rose to 58.1 from 53.7 last month.
  • The market is becoming increasingly convinced that the US will NOT impose tariffs on Mexico, a sentiment recently echoed by Republican Senator (and head of the Senate Finance Committee) Grassley. Negotiations just kicked off ahead of Monday’s deadline.
  • Uber (UBER) rallied back to retest its IPO price at $45.00 for the first time since last month’s IPO.
  • Gamestop (GME) plunged 35% after reporting weak earnings and eliminating its dividend.

*There are no high-impact corporate announcements expected during tomorrow’s Asian session.*

Macroeconomic Calendar


*Data from Refinitiv. Index names may not reflect tradable instruments and not all markets are available in all regions.


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