Forex – Dollar Drops Amid Risk Aversion  

Investing.com –  The dollar slid against major Asian currencies Thursday morning after climbing overnight to a fresh high for the year. Without any key economic data in the region, investors focused on political events that clouded the market outlook. As risk appetite soured, the safe-haven yen was sent higher.

The U.S. dollar index that tracks the greenback against a basket of six major currencies last stood at 93.78, down 0.14%, at 12:49AM ET (04:49 GMT).  On Wednesday night, the index climbed above the 94 level for the first time this year, reaching 94.10.

The market was also reacting to the outcome of a meeting of the U.S. Federal Reserve on Wednesday. The Fed appeared to be content to let inflation run above the 2% target for a “temporary period”, signaling no rush to tighten monetary policy.

The USD/JPY pair slid 0.49% to 109.49 as the U.S. sought to impose more tariffs, reigniting fears of a trade war. The yen surged after U.S. President Donald Trump ordered Commerce Secretary Wilbur Ross to initiate a probe into automobile imports.

The yen was also affected by the reaction to uncertainty over whether a planned summit between Trump and North Korean leader Kim Jong-un would happen. Doubts over whether the summit will go ahead have destabilized geopolitical relations in Asia.

A top North Korean diplomat criticized U.S. Vice President Mike Pence who suggested that the fate of North Korea follow the Libyan model, prompting the Asian country to say that a “nuclear-to-nuclear showdown is entirely dependent upon the decision and behavior of the United States”. The Libyan model refers to the U.S. approach to that country, which ended with the capture and killing of leader Moammar Gadhafi after operations carried out with NATO support and help.

In Australia, the AUD/USD pair gained 0.13% at 0.7570 The Aussie was not hurt by headlines regarding potential hefty tariffs on foreign cars.

In China, the People's Bank of China set the set the reference rate for the yuan against the dollar, the mid-point from which the currency is allowed to trade, at 6.3816 versus the previous day's 6.3773. The USD/CNY pair gained 0.03% to trade at 6.3906. 

Asian Equities Lower Amid Renewed China-U.S. Tension

Investing.com – Asian equities were mostly lower in morning trade on Thursday amid renewed China-U.S. tension, as U.S. President Donald Trump hinted he has second thought about the trade deal he agreed with Beijing over the weekend.

“Our Trade Deal with China is moving along nicely, but in the end we will probably have to use a different structure in that this will be too hard to get done and to verify results after completion,” Trump said on Twitter on Wednesday. 

Meanwhile, the Federal Reserve meeting on Wednesday was also in focus as it indicated central bankers are happy to let inflation run above the 2% goal for a “temporary period”, indicating they're in no rush to tighten more aggressively.

In Asia, Japan stocks underperformed its regional peers, with a strengthening yen cited as catalyst for the selling in local stocks after U.S. President Trump ordered the Commerce Department to consider a probe into automobile imports, which could lead to possible fresh tariffs on foreign vehicles.

The Nikkei 225 was down 1.2% by 9:30 PM ET (01:30 GMT).

China’s Shanghai Composite and the SZSE Component both slipped 0.1%, while Hong Kong’s Hang Seng Index edged up 0.03%.

Although not a directional driver, reports that the U.S. is seeking better access for imports of genetically modified crops into China garnered some attention. Citing two people familiar with the matter, Reuters reported that agricultural trade has been a long term main issue between the two nations.

"I can say with full confidence that biotech is one of the key issues for USDA in this conversation with the Chinese," the source said.

Elsewhere, Australia’s S&P/ASX 200 slipped 0.1%, while South Korea’s KOSPI traded 0.3% lower.

Peru stocks lower at close of trade; S&P Lima General down 1.02%

Investing.com – Peru stocks were lower after the close on Wednesday, as losses in the Banking&Financials, S&P Lima Juniors and Mining sectors led shares lower.

At the close in Lima, the S&P Lima General lost 1.02% to hit a new 1-month low.

The best performers of the session on the S&P Lima General were Grana Y Monter (LM:GRA), which rose 5.73% or 0.110 points to trade at 2.030 at the close. Meanwhile, Empresa Agroindustrial Pomalca (LM:POM) added 4.80% or 0.006 points to end at 0.131 and Enel Distribucion Peru SAA (LM:ENE) was up 3.77% or 0.220 points to 6.050 in late trade.

The worst performers of the session were Candente Copper (LM:DNT), which fell 13.33% or 0.0100 points to trade at 0.0650 at the close. PPX Mining Corp (LM:PPX) unchanged 5.13% or 0.00 points to end at 0.07 and Panoro (LM:PML) was down 4.92% or 0.013 points to 0.251.

Falling stocks outnumbered advancing ones on the Lima Stock Exchange by 21 to 14 and 7 ended unchanged.

Crude oil for July delivery was down 0.50% or 0.36 to $71.84 a barrel. Elsewhere in commodities trading, Brent oil for delivery in July rose 0.20% or 0.16 to hit $79.73 a barrel, while the June Gold Futures contract rose 0.08% or 1.00 to trade at $1293.00 a troy ounce.

USD/PEN was up 0.15% to 3.2734, while EUR/PEN fell 0.63% to 3.8271.

The US Dollar Index Futures was up 0.43% at 93.91.

Brazil stocks lower at close of trade; Bovespa down 2.25%

Investing.com – Brazil stocks were lower after the close on Wednesday, as losses in the Financials, Public Utilities and Real Estate sectors led shares lower.

At the close in Sao Paulo, the Bovespa lost 2.25% to hit a new 3-months low.

The best performers of the session on the Bovespa were Marfrig Alimentos SA (SA:MRFG3), which rose 7.59% or 0.60 points to trade at 8.50 at the close. Meanwhile, Cosan SA Industria e Comercio (SA:CSAN3) added 1.46% or 0.59 points to end at 40.93 and Embraer SA (SA:EMBR3) was up 1.46% or 0.33 points to 22.95 in late trade.

The worst performers of the session were Centrais Eletricas Brasileiras SA (SA:ELET3), which fell 11.47% or 2.07 points to trade at 15.97 at the close. Centrais Eletricas Brasileiras SA (SA:ELET6) declined 9.42% or 1.95 points to end at 18.75 and Qualicorp SA (SA:QUAL3) was down 7.98% or 1.71 points to 19.72.

Falling stocks outnumbered advancing ones on the BM&FBovespa Stock Exchange by 296 to 114 and 31 ended unchanged.

Shares in Qualicorp SA (SA:QUAL3) fell to 52-week lows; falling 7.98% or 1.71 to 19.72.

The CBOE Brazil Etf Volatility, which measures the implied volatility of Bovespa options, was down 1.19% to 31.58.

Gold Futures for June delivery was up 0.12% or 1.50 to $1293.50 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in July fell 0.65% or 0.47 to hit $71.73 a barrel, while the July US coffee C contract fell 1.13% or 1.36 to trade at $119.47 .

USD/BRL was down 0.58% to 3.6270, while EUR/BRL fell 1.26% to 4.2428.

The US Dollar Index Futures was up 0.43% at 93.91.

Bitcoin Falls Below $8,000 as Traders Flee Cryptos

Investing.com – Bitcoin fell below $8,000 on Wednesday as ongoing negative sentiment forced traders to abandon their bullish crypto holdings, wiping more than $30 billion off the crypto market.

Bitcoin fell 7.34% to $7,589.4 on the Bitfinex exchange from a high of $8,196.8.

Bitcoin’s plunge below $8,000 appeared to attract a wave of selling as some said the move lower was a sign that upside momentum in the popular crypto was diminishing amid falling demand.

The total market cap of cryptocurrencies fell to about $333 billion, at the time of writing, down from about $367 billion on Tuesday, reflecting the negative sentiment on cryptos amid fears of a regulatory crackdown.

The cryptocurrency industry has become a “farce” as the light-natured regulation of the industry, where barriers to creating a new cryptocurrency is “zero,” was attracting increased levels of fraudulent activity, said Minneapolis Federal Reserve President Neel Kashkari on Tuesday.

Kashikari tempered his comments somewhat saying “there will probably be a shakeout, and maybe a handful of these things [cryptocurrencies] will end up surviving.”

Bitcoin has struggled to mount a recovery following its unsuccessful attempts to rally above $10,000 earlier in the month. A recent step up in regulatory efforts in South Korea and North America has sparked uncertainty through the crypto industry, crippling upside momentum in cryptos.

Ripple XRP fell 8.65% to $0.60752 on the Poloniex exchange, while Ethereum fell 14.95% to $592.89.

Bitcoin Cash fell 12.17% to $1031.19, while Litecoin fell 7.49% to $122.09.

Day Ahead: Top 3 Things to Watch

Investing.com - Here’s a preview of the top 3 things that could rock markets tomorrow

1. Jobless Claims, Housing Data, Fed Speakers on Tap

The Labor Department releases its weekly count of the number of individuals who filed for unemployment insurance due 08:30 am ET for the week ended May 18, expected to show jobless claims fell to 220,000 from 222,000 the prior week.

The Bloomberg Consumer Confidence Index due 9:45AM ET – which measures views on the condition of the U.S. economy, personal finances and the buying climate – will also be closely monitored.

Existing Home Sales due 10:00AM ET for April is expected to show a decline of 0.2% for April to 5.56 million units from 5.60 million units the prior month.

Federal Reserve officials will continue to chime in with speeches that could offer clues on U.S. monetary policy.

Speeches by FOMC Member Raphael Bostic at 10:35AM ET and FOMC Member Patrick Harker at 2:00PM ET will be closely watched after the Federal Reserve’s minutes showed policymakers continued to view gradual rate hikes as appropriate.

The dollar hit a sixth-month high on Wednesday supported by a slump in EUR/USD, GBP/USD slumped.

2. Natural Gas Inventories, Crude Oil in Focus

Natural gas prices rose on Wednesday ahead of data expected to show an increase in natural gas storage for the fourth week in a row.

The Energy Information Agency’s weekly natural gas storage report is expected show gas storage rose by 92 billion cubic feet last week.

Following the rally into settlement on Wednesday, crude oil prices will likely remain in focus after U.S. government data showed US supplies unexpected surged last week.

That was in contrast to the weekly industry report from the American Petroleum Institute on Tuesday showing a draw in crude supplies.

Crude futures settled 36 cents higher at $71.84 a barrel.

3. Best Buy Q1 Earnings Eyed

Best Buy releases its quarterly results before the opening bell on Thursday, May 24.

Analysts expect the durable goods retailer to post first quarter earnings of $0.74 per share on revenue of $8.73 billion.

Same-store sales will be one the key metrics watched by market participants amid expectations that efforts to increase e-commerce may have weighed on the company’s margins and reduced traffic.

Same-store sales are expected to rise 2.6%.

Best Buy has trickled lower heading into its earnings report as traders appeared to take profit on recent gains after the stock rose to an all-time high last week.

Shares of Best Buy Co Inc (NYSE:BBY) closed 0.52% higher at $75.86.

Fed's Minutes: June Rate Hike on Track as Inflation Nears Target

Investing.com - Federal Reserve policymakers saw inflation nearing the U.S. central bank’s target prompting the need for gradual rate hikes, according to the minutes of its May meeting, published on Wednesday.

The Fed kept its benchmark rate unchanged at 1.50% to 1.75% at the conclusion of its two-day policy meeting on May 2 and stuck to its projections for two additional rate hikes this year.

Consumer price inflation, as measured by the 12‑month percentage change in the price index for personal consumption expenditures (PCE), was 2% in March, warranting the need for further gradual rate hikes, the Fed's minutes showed.

"Participants generally expected that further gradual increases in the target range for the federal funds rate would be consistent with solid expansion of economic activity, strong labor market conditions, and inflation near the Committee's symmetric 2 percent objective over the medium term," according to Fed's minutes.

Fed officials also said that after an extended period of low inflation, the Committee's longer-run policy objective "was to return inflation to its symmetric 2% goal on a sustained basis."

The above-trend economic growth was underpinned by a number of factors including a strong labor market following a drop in the unemployment rate below 4% in April for the first time since 2000.

"A number of economic fundamentals were currently supporting continued above-trend economic growth; these included a strong labor market, federal tax and spending policies, high levels of household and business confidence, favorable financial conditions, and strong economic growth abroad," the minutes showed.

The report did little to alter the outlook for monetary policy, with the majority of traders expecting a rate hike at the Fed’s next meeting in June.

CIBC said the Fed minutes were somewhat dovish as the US central bank expressed "tolerance for a bit of overshooting on the inflation front" and did not appear too concerned about the prospect of an overheating economy.

Traders are pricing in a 95% rate hike in June, according to Investing.com’s Fed Rate Monitor Tool. The odds of a fourth rate in December, meanwhile, have decreased to about 39%.

Gold Prices Flat as Geopolitical Uncertainty Offsets Dollar Pressure

Investing.com – Gold prices traded flat on Tuesday pressured by a rally in the dollar to six-month highs but losses were limited as rising geopolitical uncertainty triggered demand for safe-haven assets.

Gold futures for June delivery on the Comex division of the New York Mercantile Exchange fell by $0.90, or 0.07%, to $1,291.10 a troy ounce.

Signs of US-China trade tensions saw traders pile into gold, helping the precious metal steady from a heavy selloff last week despite a strong uptick in the dollar.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, rose to a sixth-month high of 94.04.

A stronger dollar makes gold more expensive for holders of foreign currency, reducing demand for the yellow metal.

The uptick in geopolitical tensions arrived as President Donald Trump on Tuesday said he was not pleased with recent U.S.-China trade talks and also raised doubts about whether the U.S.-North Korea summit would take place next month.

Also supporting the precious metal was a fall in U.S. bond yields ahead of the release of the minutes of the Federal Reserve’s May meeting slated for 2PM ET.

In a rising interest rate environment, investor appetite for gold weakens as the opportunity cost of holding the precious metal increases relative to other interest-bearing assets such as bonds.

In other precious metal trade, silver futures fell 0.90% to $16.43 a troy ounce, while platinum futures lost 0.76% to $901.90 an ounce.

Copper fell 1.98% to $3.07

Finland stocks lower at close of trade; OMX Helsinki 25 down 1.64%

Investing.com – Finland stocks were lower after the close on Wednesday, as losses in the Oil&Gas, Basic Materials and Technology sectors led shares lower.

At the close in Helsinki, the OMX Helsinki 25 declined 1.64%.

The best performers of the session on the OMX Helsinki 25 were Kesko Oyj (HE:KESKOB), which rose 0.04% or 0.02 points to trade at 50.52 at the close. Meanwhile, Outotec Oyj (HE:OTE1V) fell 0.05% or 0.004 points to end at 8.298 and Valmt (HE:VALMT) was down 0.25% or 0.04 points to 16.11 in late trade.

The worst performers of the session were Neste Oil Oyj (HE:NESTE), which fell 2.96% or 2.08 points to trade at 68.24 at the close. Outokumpu Oyj (HE:OUT1V) declined 2.82% or 0.1720 points to end at 5.9380 and UPM-Kymmene Oyj (HE:UPM) was down 2.28% or 0.73 points to 31.29.

Falling stocks outnumbered advancing ones on the Helsinki Stock Exchange by 103 to 39 and 18 ended unchanged.

Brent oil for July delivery was down 0.45% or 0.36 to $79.21 a barrel. Elsewhere in commodities trading, Crude oil for delivery in July fell 0.71% or 0.51 to hit $71.69 a barrel, while the June Gold Futures contract fell 0.05% or 0.60 to trade at $1291.40 a troy ounce.

EUR/USD was down 0.68% to 1.1700, while EUR/GBP fell 0.06% to 0.8765.

The US Dollar Index Futures was up 0.46% at 93.94.

Italy stocks lower at close of trade; Investing.com Italy 40 down 1.40%

Investing.com – Italy stocks were lower after the close on Wednesday, as losses in the Financials, Industrials and Technology sectors led shares lower.

At the close in Milan, the Investing.com Italy 40 fell 1.40% to hit a new 1-month low.

The best performers of the session on the Investing.com Italy 40 were Bper Banca SpA (MI:EMII), which rose 1.09% or 0.051 points to trade at 4.723 at the close. Meanwhile, Salvatore Ferragamo SpA (MI:SFER) added 0.44% or 0.11 points to end at 25.05 and Mediaset (MI:MS) was up 0.29% or 0.009 points to 3.061 in late trade.

The worst performers of the session were Saipem SpA (MI:SPMI), which fell 3.43% or 0.1380 points to trade at 3.8820 at the close. Pirelli&C SPA (MI:PIRC) declined 2.68% or 0.20 points to end at 7.42 and Buzzi Unicem (MI:BZU) was down 2.30% or 0.51 points to 21.68.

Falling stocks outnumbered advancing ones on the Milan Stock Exchange by 267 to 93 and 34 ended unchanged.

Crude oil for July delivery was down 0.73% or 0.53 to $71.67 a barrel. Elsewhere in commodities trading, Brent oil for delivery in July fell 0.45% or 0.36 to hit $79.21 a barrel, while the June Gold Futures contract fell 0.05% or 0.60 to trade at $1291.40 a troy ounce.

EUR/USD was down 0.67% to 1.1701, while EUR/GBP fell 0.05% to 0.8766.

The US Dollar Index Futures was up 0.46% at 93.94.

Denmark stocks lower at close of trade; OMX Copenhagen 20 down 0.29%

Investing.com – Denmark stocks were lower after the close on Wednesday, as losses in the Real Estate, Oil&Gas and Technology sectors led shares lower.

At the close in Copenhagen, the OMX Copenhagen 20 declined 0.29%.

The best performers of the session on the OMX Copenhagen 20 were Pandora A/S (CO:PNDORA), which rose 2.57% or 13.0 points to trade at 518.0 at the close. Meanwhile, AP Moeller - Maersk A/S B (CO:MAERSKb) added 1.31% or 124 points to end at 9620 and Chr. Hansen Holding A/S (CO:CHRH) was up 0.68% or 4.0 points to 593.6 in late trade.

The worst performers of the session were Vestas Wind Systems A/S (CO:VWS), which fell 2.51% or 11.4 points to trade at 442.2 at the close. Nordea Bank AB (CO:NDA) declined 1.99% or 1.30 points to end at 63.94 and Jyske Bank A/S (CO:JYSK) was down 1.01% or 3.7 points to 361.8.

Falling stocks outnumbered advancing ones on the Copenhagen Stock Exchange by 71 to 43 and 22 ended unchanged.

Shares in Chr. Hansen Holding A/S (CO:CHRH) rose to all time highs; up 0.68% or 4.0 to 593.6.

Crude oil for July delivery was down 0.75% or 0.54 to $71.66 a barrel. Elsewhere in commodities trading, Brent oil for delivery in July fell 0.48% or 0.38 to hit $79.19 a barrel, while the June Gold Futures contract fell 0.03% or 0.40 to trade at $1291.60 a troy ounce.

USD/DKK was up 0.69% to 6.3671, while EUR/DKK rose 0.02% to 7.4496.

The US Dollar Index Futures was up 0.46% at 93.94.

Poland stocks lower at close of trade; WIG30 down 1.85%

Investing.com – Poland stocks were lower after the close on Wednesday, as losses in the Energy, Chemicals and Basic Materials sectors led shares lower.

At the close in Warsaw, the WIG30 fell 1.85% to hit a new 52-week low.

The best performers of the session on the WIG30 were Cyfrowy Polsat SA (WA:CPS), which rose 0.96% or 0.24 points to trade at 25.14 at the close. Meanwhile, Bank Polska Kasa Opieki SA (WA:PEO) added 0.29% or 0.33 points to end at 114.58 and Kruk SA (WA:KRU) was up 0.09% or 0.20 points to 228.40 in late trade.

The worst performers of the session were Energa SA (WA:ENGP), which fell 6.84% or 0.67 points to trade at 9.13 at the close. PGE Polska Grupa Energetyczna SA (WA:PGE) declined 6.81% or 0.69 points to end at 9.44 and Tauron Polska Energia SA (WA:TPE) was down 6.51% or 0.140 points to 2.010.

Falling stocks outnumbered advancing ones on the Warsaw Stock Exchange by 296 to 159 and 168 ended unchanged.

Shares in Energa SA (WA:ENGP) fell to 52-week lows; losing 6.84% or 0.67 to 9.13. Shares in PGE Polska Grupa Energetyczna SA (WA:PGE) fell to 52-week lows; down 6.81% or 0.69 to 9.44. Shares in Tauron Polska Energia SA (WA:TPE) fell to all time lows; falling 6.51% or 0.140 to 2.010.

Crude oil for July delivery was down 0.60% or 0.43 to $71.77 a barrel. Elsewhere in commodities trading, Brent oil for delivery in July fell 0.44% or 0.35 to hit $79.22 a barrel, while the June Gold Futures contract fell 0.03% or 0.40 to trade at $1291.60 a troy ounce.

EUR/PLN was up 0.39% to 4.3003, while USD/PLN rose 1.01% to 3.6737.

The US Dollar Index Futures was up 0.42% at 93.90.

Germany stocks lower at close of trade; DAX down 1.47%

Investing.com – Germany stocks were lower after the close on Wednesday, as losses in the Basic Resources, Chemicals and Insurance sectors led shares lower.

At the close in Frankfurt, the DAX fell 1.47%, while the MDAX index declined 1.07%, and the TecDAX index fell 0.78%.

The best performers of the session on the DAX were SAP SE (DE:SAPG), which rose 0.32% or 0.310 points to trade at 96.420 at the close. Meanwhile, Deutsche Telekom AG Na (DE:DTEGn) fell 0.11% or 0.015 points to end at 13.520 and Beiersdorf AG O.N. (DE:BEIG) was down 0.12% or 0.120 points to 98.520 in late trade.

The worst performers of the session were Deutsche Lufthansa AG (DE:LHAG), which fell 3.74% or 0.940 points to trade at 24.180 at the close. Linde AG 1 (DE:LIN1) declined 3.14% or 6.2000 points to end at 191.3500 and Volkswagen AG VZO O.N. (DE:VOWG_p) was down 2.74% or 4.84 points to 171.76.

The top performers on the MDAX were CTS Eventim AG (DE:EVDG) which rose 4.15% to 40.620, Grand City Properties SA (DE:GYC) which was up 0.86% to settle at 21.00 and Prosiebensat 1 Media AG (DE:PSMGn) which gained 0.64% to close at 26.8200.

The worst performers were Wacker Chemie O.N. (DE:WCHG) which was down 3.63% to 149.85 in late trade, Salzgitter AG (DE:SZGG) which lost 3.36% to settle at 46.910 and Kion Group AG (DE:KGX) which was down 2.86% to 71.40 at the close.

The top performers on the TecDAX were Evotec AG O.N. (DE:EVTG) which rose 0.99% to 14.255, Sartorius AG VZO O.N. (DE:SATG_p) which was up 0.44% to settle at 137.600 and Wirecard AG (DE:WDIG) which gained 0.40% to close at 126.650.

The worst performers were RIB Software AG Na (DE:RIB) which was down 4.19% to 20.600 in late trade, SLM Solutions Group AG (DE:AM3D) which lost 3.37% to settle at 32.95 and SMA Solar Technology AG (DE:S92G) which was down 3.30% to 58.600 at the close.

Falling stocks outnumbered advancing ones on the Frankfurt Stock Exchange by 512 to 204 and 71 ended unchanged.

Shares in Grand City Properties SA (DE:GYC) rose to 52-week highs; up 0.86% or 0.18 to 21.00. Shares in Sartorius AG VZO O.N. (DE:SATG_p) rose to 52-week highs; rising 0.44% or 0.600 to 137.600.

The DAX volatility index, which measures the implied volatility of DAX options, was up 13.51% to 16.66 a new 1-month high.

Gold Futures for June delivery was down 0.03% or 0.40 to $1291.60 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in July fell 0.60% or 0.43 to hit $71.77 a barrel, while the July Brent oil contract fell 0.44% or 0.35 to trade at $79.22 a barrel.

EUR/USD was down 0.63% to 1.1706, while EUR/GBP fell 0.03% to 0.8767.

The US Dollar Index Futures was up 0.42% at 93.90.

Norway stocks lower at close of trade; Oslo OBX down 1.08%

Investing.com – Norway stocks were lower after the close on Wednesday, as losses in the Technology Hardware&Equipment, Diversified Financials and Auto&components sectors led shares lower.

At the close in Oslo, the Oslo OBX declined 1.08%.

The best performers of the session on the Oslo OBX were SalMar ASA (OL:SALM), which rose 1.65% or 5.80 points to trade at 357.60 at the close. Meanwhile, Grieg Seafood (OL:GSFO) added 0.27% or 0.25 points to end at 92.25 and P/f Bakkafrost (OL:BAKKA) was up 0.19% or 0.80 points to 427.00 in late trade.

The worst performers of the session were Norwegian Air Shuttle ASA (OL:NWC), which fell 3.69% or 10.10 points to trade at 263.40 at the close. Golden Ocean Group Ltd (OL:GOGLT) declined 2.90% or 2.00 points to end at 67.00 and Norwegian Finans Holding ASA (OL:NOFI) was down 2.41% or 2.15 points to 87.20.

Falling stocks outnumbered advancing ones on the Oslo Stock Exchange by 136 to 38 and 25 ended unchanged.

Crude oil for July delivery was down 0.62% or 0.45 to $71.75 a barrel. Elsewhere in commodities trading, Brent oil for delivery in July fell 0.46% or 0.37 to hit $79.20 a barrel, while the June Gold Futures contract fell 0.07% or 0.90 to trade at $1291.10 a troy ounce.

EUR/NOK was down 0.10% to 9.4845, while USD/NOK rose 0.63% to 8.1100.

The US Dollar Index Futures was up 0.48% at 93.96.

Raymond James Sees Spotify Subscribership Doubling In Two Years

Investing.com - Spotify will double the number of its subscribers by 2020, as the music industry shifts from "a transaction to an on demand model," according to investment firm Raymond James.
With that thinking, the firm initiated coverage of the music streaming company, issuing a strong buy rating and $190 12-month, stock price target.
In a note to clients, James said Spotify has "one of the best growth rates in tech" and can withstand any competitive threat from Apple (NASDAQ:AAPL) or Amazon (NASDAQ:AMZN).
Spotify's first quarterly earnings since going public in April failed to meet Wall Street's expectations, although it did manage a smaller loss. The company said it has 75 million subscribers.
Shares are unchanged from their opening day closing price.

State Regulators Unleash 'Operation Crypto Sweep'

Investing.com - Now state regulators are cracking down on cryptocurrency fraud.
Regulators in some 40 U.S. states and Canadian provinces have launched "Operation Crypto Sweep," a coordinated effort to uncover illegal investment schemes to raise funds from investors, such as initial coin offerings.
So far, the effort has yielded 70 investigations or inquiries and 35 pending or completed enforcement actions.
The North American Securities Administrators Association is helping to lead the effort.
The state crackdown comes as the federal Securities Exchange Commission steps up its efforts to uncover ICO fraud.

Forex- Dollar Surges Ahead of Fed Minutes

Investing.com - The greenback rose to a five month high on Wednesday, as investors look ahead to the latest meeting minutes from the Federal Reserve.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.42% to 93.90 as of 11:09 AM ET (15:09 GMT).

Investors will be looking to the Fed meeting minutes at 2:00 PM ET (18:00 GMT) closely for any signs of tightening monetary policy.

A recent increase in bond yields, along with positive economic data and rising inflation, has boosted expectations that the Federal Reserve will increase interest rates and tighten monetary policy.

The Fed raised rates in March and is expected to raise rates twice more, with some investors expecting a third hike. Expectations of higher interest rates tend to boost the dollar by making the currency more attractive to yield-seeking investors.

Meanwhile the euro and sterling continued to fall to five-month lows after disappointing economic data.

The euro was near a five-month low after private sector growth in the euro zone fell to its slowest pace in 18 months in May. The report is likely to push back expectations of an interest rate hike by the European Central Bank.The euro was down, with EUR/USD falling 0.65% to 1.1703.

Meanwhile the pound slumped after data showed that annual inflation slowed in April, which could ease pressure on the Bank of England to increase interest rates. GBP/USD dipped 0.69% to 1.3340.

The dollar was down against the safe haven yen, with USD/JPY falling 0.64% to 109.96. Elsewhere, the Australian dollar was lower, with AUD/USD down 0.46% to 0.7540 while NZD/USD decreased 0.48% to 0.6900.

Gold Falls as Investors Look Ahead to Fed Meeting Minutes

Investing.com - Gold prices were lower on Wednesday, as investors looked ahead to the meeting minutes of the Federal Reserve and the dollar strengthened.

Comex gold futures for June delivery were down 0.24% to $1,288.90 a troy ounce as of 10:34 AM ET (14:34 GMT).

Investors are looking ahead to the latest meeting minutes from the Federal Reserve. The minutes are set to be released at 2:00 PM ET (18:30 GMT). Investors will be looking closely for any sign of tightening monetary policy.

A recent increase in bond yields, along with positive economic data and rising inflation, has boosted expectations that the Federal Reserve will increase interest rates and tighten monetary policy. The Fed raised rates in March and is expected to raise rates twice more, with some investors expecting a third hike.

Expectations of higher interest rates tend to boost the dollar by making the currency more attractive to yield-seeking investors. Higher rates are a negative for gold as the precious metal, which does not pay interest, struggles to compete with yield-bearing assets when rates rise.

The price of bouillon was also driven lower by the rise in the greenback.

The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was at a five-month high of 93.89.

Gold is denominated in the U.S. currency and is sensitive to moves in the dollar. Bullion becomes more expensive for holders of other currencies when the dollar rises.

Elsewhere on the Comex, silver futures were down 1.15% to $16.385 a troy ounce. Among other precious metals, Platinum Futures fell 0.96% to $900.10 while Palladium Futures slipped 2.41% to $963.00 an ounce. Copper futures decreased 1.95% to $3.071 a pound.

U.S. Business Activity Picks Up in May – Markit

Investing.com - U.S. private sector activity picked up in May, according to survey data released on Wednesday.

The preliminary reading of the Markit services purchasing managers’ index came in at 55.7 this month, up down from 54.6 in April.

Economists had forecast a reading of 54.9.

The manufacturing PMI rose to 56.6 in May, compared to 56.5 a month earlier.

Analysts had expected a reading of 56.6.

The composite output index, which measures the combined output of both the manufacturing and service sectors, rose to 55.7 this month from 54.9 in April.

The consensus forecast was looking for a slight rise to 55.0.

A reading above 50.0 on the index indicates industry expansion, below indicates contraction.

The research group noted that private sector firms signaled a robust and accelerate rise in business activity “which adds to evidence of a sustained growth rebound in the second quarter of 2018.

However, IHS Markit also warned that input cost inflation rose to nearly a five-year high.

“The flash May PMI surveys point to an encouragingly solid pace of economic growth of 2.5-3% with monthly job gains running at just over 200,000, though the interesting action is coming on the prices front,” IHS Markit chief economist Chris Williamson said in the report.

“Input costs measured across both manufacturing and services are rising at the fastest rate for nearly five years, with the goods-producing sector seeing the steepest cost increases for seven years in recent months,” he explained.

Williamson pointed to the fact that supplier delivery delays - a key leading indicator of inflationary pressure - had risen to the highest point in the 11-year history of the survey. Increased demand was allowing suppliers to charge higher prices, while higher oil and energy prices were also pushing up firms’ costs.

“Business optimism meanwhile remains at a three-year high, with companies commonly expecting rising demand to help drive business growth, setting the scene for further strong survey results in coming months,” Williamson concluded.

India stocks lower at close of trade; Nifty 50 down 1.01%

Investing.com – India stocks were lower after the close on Wednesday, as losses in the Metals, Oil&Gas and Real Estate sectors led shares lower.

At the close in NSE, the Nifty 50 declined 1.01% to hit a new 1-month low, while the BSE Sensex 30 index declined 0.88%.

The best performers of the session on the Nifty 50 were State Bank Of India (NS:SBI), which rose 3.76% or 9.55 points to trade at 263.20 at the close. Meanwhile, Tech Mahindra Ltd (NS:TEML) added 2.13% or 14.60 points to end at 697.45 and Cipla Ltd. (NS:CIPL) was up 1.91% or 10.00 points to 532.40 in late trade.

The worst performers of the session were Hindustan Petroleum Corporation Ltd (NS:HPCL), which fell 8.21% or 25.60 points to trade at 287.00 at the close. Vedanta Ltd (NS:VDAN) declined 7.21% or 19.45 points to end at 252.65 and Tata Steel Ltd (NS:TISC) was down 6.16% or 35.55 points to 540.05.

The top performers on the BSE Sensex 30 were State Bank Of India (BO:SBI) which rose 3.56% to 263.20, NTPC Ltd (BO:NTPC) which was up 0.82% to settle at 166.35 and Larsen&Toubro Ltd (BO:LART) which gained 0.55% to close at 1327.20.

The worst performers were Tata Steel Ltd (BO:TISC) which was down 6.57% to 539.25 in late trade, Oil And Natural Gas Corporation Ltd (BO:ONGC) which lost 4.75% to settle at 175.55 and Dr. Reddy’s Laboratories Ltd (BO:REDY) which was down 2.92% to 1955.00 at the close.

Falling stocks outnumbered advancing ones on the India National Stock Exchange by 986 to 620 and 37 ended unchanged; on the Bombay Stock Exchange, 1495 fell and 1072 advanced, while 113 ended unchanged.

Shares in Hindustan Petroleum Corporation Ltd (NS:HPCL) fell to 52-week lows; falling 8.21% or 25.60 to 287.00.

The India VIX, which measures the implied volatility of Nifty 50 options, was up 4.08% to 14.1575.

Gold Futures for June delivery was up 0.31% or 4.00 to $1296.00 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in July fell 0.62% or 0.45 to hit $71.75 a barrel, while the July Brent oil contract fell 0.87% or 0.69 to trade at $78.88 a barrel.

USD/INR was up 0.47% to 68.405, while EUR/INR rose 0.06% to 80.1722.

The US Dollar Index Futures was up 0.30% at 93.79.

Forex- Euro, Pound Fall After Disappointing Data

Investing.com - The euro and sterling were near five-month lows on Wednesday after disappointing economic data while the U.S. dollar surged as investors look ahead to Fed meeting minutes later in the day.

The euro was near a five-month low after private sector growth in the euro zone fell to its slowest pace in 18 months in May.

The Flash Euro Zone Composite Output Index, which measures the combined output of both the manufacturing and service sectors, registered a reading of 54.1 this month, compared to expectations for a reading of 55.0.

The report is likely to push back expectations of an interest rate hike by the European Central Bank.

The euro was down, with EUR/USD falling 0.48% to 1.1724 as of 4:42 AM ET (8:42 GMT).

Meanwhile the pound slumped to new five month lows after data showed that annual inflation slowed in April, which could ease pressure on the Bank of England to increase interest rates.

GBP/USD dipped 0.53% to 1.3362.

Elsewhere the greenback rose to a five month high, as investors look ahead to the latest meeting minutes from the Federal Reserve. The minutes are set to be released at 2:00 PM ET (18:30 GMT).

Investors will be looking closely for any sign of tightening monetary policy.

A recent increase in bond yields, along with positive economic data and rising inflation, has boosted expectations that the Federal Reserve will increase interest rates and tighten monetary policy.

The Fed raised rates in March and is expected to raise rates twice more, with some investors expecting a third hike.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.28% to 93.77. Expectations of higher interest rates tend to boost the dollar by making the currency more attractive to yield-seeking investors.

The dollar was down against the safe haven yen, with USD/JPY falling 0.90% to 109.89.

Japan stocks lower at close of trade; Nikkei 225 down 1.18%

Investing.com – Japan stocks were lower after the close on Wednesday, as losses in the Insurance, Non-Metal Minerals and Manufacturing sectors led shares lower.

At the close in Tokyo, the Nikkei 225 fell 1.18%.

The best performers of the session on the Nikkei 225 were ANA Holdings Inc (T:9202), which rose 1.28% or 54.0 points to trade at 4278.5 at the close. Meanwhile, Toshiba Corp. (T:6502) added 1.28% or 4.0 points to end at 316.5 and Sumitomo Dainippon Pharma Co Ltd (T:4506) was up 1.26% or 27.0 points to 2165.0 in late trade.

The worst performers of the session were NGK Insulators, Ltd. (T:5333), which fell 5.29% or 112.0 points to trade at 2006.0 at the close. Inpex Corp. (T:1605) declined 4.51% or 61.5 points to end at 1302.5 and NSK Ltd. (T:6471) was down 3.69% or 53.0 points to 1384.0.

Falling stocks outnumbered advancing ones on the Tokyo Stock Exchange by 2075 to 1260 and 233 ended unchanged.

Shares in Sumitomo Dainippon Pharma Co Ltd (T:4506) rose to all time highs; up 1.26% or 27.0 to 2165.0.

The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was down 2.27% to 14.21 a new 3-months low.

Crude oil for July delivery was down 0.40% or 0.29 to $71.91 a barrel. Elsewhere in commodities trading, Brent oil for delivery in July fell 0.55% or 0.44 to hit $79.13 a barrel, while the June Gold Futures contract fell 0.02% or 0.30 to trade at $1291.70 a troy ounce.

USD/JPY was down 0.92% to 109.88, while EUR/JPY fell 1.42% to 128.80.

The US Dollar Index Futures was up 0.32% at 93.81.

Philippines stocks lower at close of trade; PSEi Composite down 1.12%

Investing.com – Philippines stocks were lower after the close on Wednesday, as losses in the Holding Firms, Banking&Financials and Services sectors led shares lower.

At the close in Philippines, the PSEi Composite fell 1.12%.

The best performers of the session on the PSEi Composite were Megaworld Corp (PS:MEG), which rose 1.28% or 0.060 points to trade at 4.740 at the close. Meanwhile, DMCI Holdings Inc (PS:DMC) added 1.18% or 0.120 points to end at 10.280 and Jollibee Foods Corp (PS:JFC) was up 1.06% or 3.00 points to 287.00 in late trade.

The worst performers of the session were Globe Telecom Inc (PS:GLO), which fell 5.46% or 89.00 points to trade at 1542.00 at the close. SM Investments Corp (PS:SM) declined 3.52% or 31.00 points to end at 850.00 and Bank of the Philippine Islands (PS:BPI) was down 3.39% or 3.30 points to 94.00.

Falling stocks outnumbered advancing ones on the Philippines Stock Exchange by 116 to 65 and 55 ended unchanged.

Gold Futures for June delivery was down 0.02% or 0.30 to $1291.70 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in July fell 0.43% or 0.31 to hit $71.89 a barrel, while the July Brent oil contract fell 0.57% or 0.45 to trade at $79.12 a barrel.

CNY/PHP was up 0.18% to 8.2141, while USD/PHP rose 0.33% to 52.450.

The US Dollar Index Futures was up 0.32% at 93.81.

Euro Zone Private Sector Growth Slows To 18-Month Low In May

Investing.com - Private sector economic activity in the euro zone accelerated at the slowest pace in 18 months in May, according to survey data released on Wednesday.

The disappointing report was likely to push back expectations of monetary tightening by the European Central Bank even further as recent economic figures suggest cooling momentum.

Markit said that its Flash Euro Zone Composite Output Index, which measures the combined output of both the manufacturing and service sectors, registered a reading of 54.1 this month, an 18-month low and down from 55.1 in April.

Economists had forecast a reading of 55.0.

The flash services purchasing managers’ index declined to a 16-month low of 53.9 this month from 54.7 in April.

That was below expectations for a reading of 54.7.

The preliminary euro zone manufacturing purchasing managers’ index inched down to a 15-month low of 55.5 this month from a final reading of 56.2.

Analysts had expected the index to slip to 56.1.

On the index, a reading above 50.0 indicates industry expansion, below indicates contraction.

Commenting on the report, Chris Williamson, Chief Economist at Markit said that while business activity was adversely affected by an unusually high number of public holidays this month, "it’s likely that the disappointing May survey results will rekindle some concerns regarding downside risks facing the euro area economy."

Oil Prices Slip From 2014 Highs Ahead Of U.S. Inventory Data

Investing.com - Oil prices edged lower on Wednesday, pulling back from their strongest levels in three-and-a-half-years as investors looked ahead to fresh weekly data on U.S. commercial crude inventories to gauge the strength of demand in the world’s largest oil consumer and how fast output levels will continue to rise.

The U.S. Energy Information Administration will release its official weekly oil supplies report for the week ended May 18 at 10:30AM ET (1430GMT), amid forecasts for an oil-stock drop of 1.5 million barrels.

Analysts also forecast a fall of 1.4 million barrels for gasoline stockpiles, while distillate inventories are expected to drop by 1.3 million barrels.

After markets closed Tuesday, the American Petroleum Institute said that U.S. oil inventories declined by 1.3 million barrels last week.

The API data, however, showed a rise of 980,000 barrels in gasoline stockpiles, while inventories of distillates declined by 1.3 million barrels.

There are often sharp divergences between the API estimates and the official figures from EIA.

New York-traded WTI crude futures shed 23 cents, or roughly 0.3%, to $71.97 a barrel by 2:55AM ET (0655GMT).

Meanwhile, Brent crude futures, the benchmark for oil prices outside the U.S., slipped 48 cents, or about 0.6%, to $79.08 a barrel.

Despite the dips, both oil benchmarks remained close to their November 2014 highs of $72.90 and $80.49 a barrel respectively, reached the previous day, as investors fretted over the future output from Venezuela and Iran.

OPEC may decide to raise oil output as soon as June after Washington raised concerns the oil rally was going too far, according to sources. Gulf OPEC countries are leading the initial talks on when the exporting group can boost oil production and how many barrels each member can add, the sources said.

The Organization of the Petroleum Exporting Countries and non-OPEC producers led by Russia have agreed to curb output by about 1.8 million barrels per day (bpd) until the end of 2018 to reduce high global oil stocks, but the inventory overhang has now fallen close to OPEC’s target.

Australia stocks lower at close of trade; S&P/ASX 200 down 0.10%

Investing.com – Australia stocks were lower after the close on Wednesday, as losses in the Energy, Healthcare and IT sectors led shares lower.

At the close in Sydney, the S&P/ASX 200 declined 0.10%.

The best performers of the session on the S&P/ASX 200 were Vicinity Centres Re Ltd (AX:VCX), which rose 3.31% or 0.085 points to trade at 2.655 at the close. Meanwhile, Mirvac Group (AX:MGR) added 3.14% or 0.070 points to end at 2.300 and GPT Group (AX:GPT) was up 2.69% or 0.130 points to 4.960 in late trade.

The worst performers of the session were Santos Ltd (AX:STO), which fell 8.54% or 0.550 points to trade at 5.890 at the close. A2 Milk Company Ltd (AX:A2M) declined 6.59% or 0.650 points to end at 9.210 and Beach Energy Ltd (AX:BPT) was down 4.29% or 0.078 points to 1.728.

Falling stocks outnumbered advancing ones on the Sydney Stock Exchange by 616 to 565 and 418 ended unchanged.

The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was up 1.45% to 13.621 a new 1-month high.

Gold Futures for June delivery was down 0.18% or 2.30 to $1289.70 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in July fell 0.39% or 0.28 to hit $71.92 a barrel, while the July Brent oil contract fell 0.68% or 0.54 to trade at $79.03 a barrel.

AUD/USD was down 0.46% to 0.7541, while AUD/JPY fell 0.83% to 83.33.

The US Dollar Index Futures was up 0.10% at 93.60.

Gold Prices Little Changed Amid Firmer Dollar

Investing.com – Gold prices were little changed on Wednesday as the dollar held on to gains after climbing to a fresh new high this year on Monday.

Gold futures for June delivery on the Comex division of the New York Mercantile Exchange was unchanged at $1,290.0 a troy ounce by 12:30AM ET (04:30 GMT).

Meanwhile, the US Dollar Index that tracks the greenback against a basket of six major currencies last stood at 93.62, up 0.12% on Monday, the greenback climbed to another fresh high this year at 93.91, testing the 94 level.

Investors now turn their attention to the Federal Reserve’s minutes that will come on Thursday in Asia to look for cues for rate hikes.

The dollar was also supported by the continued rise of U.S. 10-year Treasury yields that hit 3% recently and expectations for interest rates.

Dollar-denominated assets such as gold are sensitive to moves in the dollar – a gain in the dollar makes gold more expensive for holders of foreign currency and thus decreases demand for the precious metal.

Although not a major directional driver, geopolitical tension was in focus as U.S. President Donald Trump casted doubt on the upcoming historic summit with North Korea in June.

“There’s a chance, a very substantial chance, it won’t work out,” Trump said during a meeting with South Korean President Moon Jae-in on Tuesday. “I don’t want to waste a lot of time and I’m sure he doesn’t want to waste a lot of time. So there’s a very substantial chance it won’t work out and that’s OK. That doesn’t mean it won’t work out over a period of time.”

In other precious metal trade, silver futures slipped 0.03% to $16.570 a troy ounce, and platinum futures slipped 0.13% to $906.20 an ounce.

Forex – Dollar Rises Ahead of Fed Minutes

Investing.com –  The dollar rose against the other major currencies in Asia on Wednesday morning, after climbing to a fresh new high this year on Monday. The warming trade relations between the U.S. and China helped revive risk appetite. Markets also eye the Federal Reserve’s minutes that will come on Thursday in Asia to look for cues for rate hikes.

The U.S. dollar index that tracks the greenback against a basket of six major currencies last stood at 93.62, up 0.12% at 11:36AM ET (03:36 GMT).  On Monday, the greenback climbed to another fresh high this year at 93.91, testing the 94 level.

Apart from the easing trade relations between the world’s two biggest economies – the U.S. and China, the dollar was also supported by the continued rise of U.S. 10-year Treasury yields that hit 3% recently and expectations for interest rates.

On the other hand, the much-awaited minutes from the Federal Reserve also drove the dollar higher in late morning in Asia. The Fed kept the interest rates unchanged on May 2, as what the markets expected. The Fed also expressed confidence that inflation could hit its 2% target. Investors will look for more hints for Fed’s future plan of hiking the interest rates.

The USD/JPY pair lost 0.40% to 110.46. The strong momentum of the greenback has weighed on the safe-haven yen.

Down under, the AUD/USD pair shed 0.46% at 0.7541. The Aussie was dragged lower by the local construction work data that came in weaker than expected. In the first quarter of this year, construction work done rose just 0.2% quarter-on-quarter compared to 1.3% expected and -18.3% from the fourth quarter of last year.

In China, the People's Bank of China set the set the reference rate for the yuan against the dollar, the mid-point from which the currency is allowed to trade, at 6.3773 versus the previous day's 6.3799. The USD/CNY pair gained 0.10% to trade at 6.3729.

Bitcoin Retreats Further as Fed's Kashkari Says Crypto Industry a 'Farce'

Investing.com – Bitcoin extended its selloff on Tuesday as negative sentiment on cryptocurrencies continued after a Fed official claimed the industry was becoming a “farce.”

Bitcoin fell 3.85% to $8,091.2 on the Bitfinex exchange from a high of $8,431.2

The cryptocurrency industry has become a “farce” as the light-natured regulation of the industry, where barriers to creating a new cryptocurrency is “zero,” was attracting increased levels of fraudulent activity, said Minneapolis Federal Reserve President Neel Kashkari.

Kashikari tempered his comments somewhat saying “there will probably be a shakeout, and maybe a handful of these things [cryptocurrencies] will end up surviving.”

That added to renewed regulatory fears after the North American Securities Administrators Association (NASSA) unveiled “Operation Cryptosweep,” on Monday, according to a statement on the website of the Alabama Securities Commission.

"The actions announced today are just the tip of the iceberg," Joseph Borg, head of the Alabama commission and current president of the NASAA, said in the statement.

“Not every ICO or cryptocurrency-related investment is fraudulent, but we urge investors to approach any initial coin offering or cryptocurrency-related investment product with extreme caution.”

The threat of a regulatory crackdown in cryptos has weighed on demand as data showed the total market cap of cryptocurrencies fell to about $367 billion, at the time of writing, down from about $380 billion on Monday.

Falling demand for cryptos saw a sell off across mega-cap cryptocurrencies.

Ripple XRP fell 3.38% to $0.65500 on the Poloniex exchange, while Ethereum fell 6.04% to $655.67.

Bitcoin Cash fell 7.80% to $1,141.30, while Litecoin fell 4.30% to $129.49.

U.S. stocks lower at close of trade; Dow Jones Industrial Average down 0.72%

Investing.com – U.S. stocks were lower after the close on Tuesday, as losses in the Oil&Gas, Industrials and Basic Materials sectors led shares lower.

At the close in NYSE, the Dow Jones Industrial Average lost 0.72%, while the S&P 500 index lost 0.31%, and the NASDAQ Composite index fell 0.21%.

The best performers of the session on the Dow Jones Industrial Average were Verizon Communications Inc (NYSE:VZ), which rose 0.78% or 0.38 points to trade at 48.81 at the close. Meanwhile, JPMorgan Chase&Co (NYSE:JPM) added 0.77% or 0.86 points to end at 113.01 and American Express Company (NYSE:AXP) was up 0.65% or 0.66 points to 102.70 in late trade.

The worst performers of the session were Boeing Co (NYSE:BA), which fell 2.45% or 8.90 points to trade at 355.02 at the close. Caterpillar Inc (NYSE:CAT) declined 1.71% or 2.72 points to end at 156.20 and DowDuPont Inc (NYSE:DWDP) was down 1.69% or 1.16 points to 67.47.

The top performers on the S&P 500 were Micron Technology Inc (NASDAQ:MU) which rose 6.40% to 59.03, TJX Companies Inc (NYSE:TJX) which was up 3.25% to settle at 87.45 and Fifth Third Bancorp (NASDAQ:FITB) which gained 3.20% to close at 31.89.

The worst performers were AutoZone Inc (NYSE:AZO) which was down 9.49% to 602.00 in late trade, Kohl’s Corporation (NYSE:KSS) which lost 7.42% to settle at 60.61 and Macy’s Inc (NYSE:M) which was down 4.31% to 33.12 at the close.

The top performers on the NASDAQ Composite were Forward Pharma A S (NASDAQ:FWP) which rose 85.91% to 4.09, Clean Diesel Technologies Inc (NASDAQ:CDTI) which was up 64.30% to settle at 1.0200 and LM Funding America Inc (NASDAQ:LMFA) which gained 30.08% to close at 0.81.

The worst performers were Adomani Inc (NASDAQ:ADOM) which was down 20.00% to 1.36 in late trade, Alliance MMA Inc (NASDAQ:AMMA) which lost 18.06% to settle at 0.50 and Ardelyx Inc (NASDAQ:ARDX) which was down 19.47% to 4.55 at the close.

Falling stocks outnumbered advancing ones on the New York Stock Exchange by 1869 to 1187 and 136 ended unchanged; on the Nasdaq Stock Exchange, 1481 fell and 1077 advanced, while 115 ended unchanged.

Shares in TJX Companies Inc (NYSE:TJX) rose to all time highs; rising 3.25% or 2.75 to 87.45. Shares in American Express Company (NYSE:AXP) rose to all time highs; gaining 0.65% or 0.66 to 102.70.

The CBOE Volatility Index, which measures the implied volatility of S&P 500 options, was up 0.84% to 13.19.

Gold Futures for June delivery was down 0.01% or 0.10 to $1290.80 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in July fell 0.46% or 0.33 to hit $72.02 a barrel, while the July Brent oil contract rose 0.19% or 0.15 to trade at $79.37 a barrel.

EUR/USD was down 0.08% to 1.1781, while USD/JPY fell 0.13% to 110.92.

The US Dollar Index Futures was up 0.04% at 93.50.

CFD e Forex sono prodotti con leva. CFD Trading comporta un alto livello di rischio in quanto la leva può funzionare sia a vantaggio che a svantaggio. Di conseguenza, I CFD potrebbero non essere adatti a tutti gli investitori, perché si rischia di perdere tutto il capitale investito. Si prega di consultare l’intera dichiarazione dell’assunzione del Rischio.