\u2022 Dow Advances Over 200 Points as Tech Gains Lead Rally:<\/strong> The Dow Jones Industrial Average added 214.16 points, or 0.51%, to close at 42,519.64. Strength in technology stocks and optimism surrounding US-China trade talks supported the blue-chip index.<\/p>\n\n\n\n \u2022 S&P 500 Climbs Toward 6,000 Mark:<\/strong> The S&P 500 rose 0.58% to finish at 5,970.37, boosted by strong performance in technology, consumer discretionary, and energy stocks. <\/p>\n\n\n\n \u2022 Nasdaq Outperforms on Nvidia and Chip Stock Surge:<\/strong>The Nasdaq Composite jumped 0.81% to settle at 19,398.96, outperforming other major indexes. Nvidia rallied nearly 3%, surpassing Microsoft in market cap, while chipmakers Broadcom and Micron Technology gained more than 3% and 4%, respectively.<\/p>\n\n\n\n \u2022 Europe Markets Rise Modestly as Inflation Falls Below ECB Target:<\/strong> European markets finished mixed but generally higher after euro zone inflation came in below the European Central Bank\u2019s 2% target, increasing the likelihood of a rate cut. The Stoxx 600 closed up 0.01%, the FTSE 100 rose 0.15% to 8,787.02, the CAC 40 advanced 0.3% to 7,764, Germany\u2019s DAX climbed 0.67%, and Italy\u2019s FTSE MIB gained 0.2% to 40,074. Euro zone headline inflation for May dropped to 1.9%, down from 2.2% in April and below the expected 2.0%. Core inflation eased to 2.3%, while services inflation cooled to 3.2%. Swiss inflation turned negative, falling 0.1% year-on-year, adding pressure on the Swiss National Bank to cut rates this month.<\/p>\n\n\n\n \u2022 Asia-Pacific Markets Mixed as China Factory Activity Shrinks Sharply:<\/strong> Asia-Pacific equities posted mixed performances as investors digested weak Chinese manufacturing data and ongoing trade tensions. China\u2019s Caixin manufacturing PMI fell to 48.3, its lowest since September 2022, signalling contraction. Despite the downbeat data, Hong Kong\u2019s Hang Seng Index rose 1.53% to 23,512.49, while China\u2019s CSI 300 gained 0.31%. Japan\u2019s Nikkei 225 ended flat at 37,446.81, with the broader Topixdown 0.22%. Australia\u2019s ASX 200 advanced 0.63%, buoyed by commodity strength, even as the country reported a Q1 current account deficit of AU$14.7 billion. Indian markets fell, with the Nifty 50 down 0.64% and the Sensex losing 0.88%. South Korean markets remained closed for polling.<\/p>\n\n\n\n \u2022 Oil Rises on Geopolitical Risks and Weak Dollar:<\/strong> Oil prices extended gains amid geopolitical tensions and a weaker US dollar. Brent crude rose 1.55% to $65.63 per barrel, while WTI climbed 1.42% to $63.41. Traders focused on escalating conflict in Ukraine, Iranian nuclear deal uncertainty, and ongoing Canadian wildfires impacting oil sands output.<\/p>\n\n\n\n \u2022 Treasury Yields Slip After OECD Slashes <\/strong>US<\/strong> Growth Outlook:<\/strong> Treasury yields fell modestly after the OECD downgraded its US growth forecast to 1.6% for 2025, citing tariff risks and policy uncertainty. The 10-year yield eased to 4.45%, while the 30-year yield dipped to 4.976%, as investors weighed slower growth expectations and global trade concerns.<\/p>\n\n\n\n \u2022 US Labour Market Holds Steady While Factory Orders Weaken:<\/strong> US April JOLTS data showed job openings rose to 7.39 million, surpassing expectations. Hiring and layoffs also increased, indicating resilience in the labour market. However, factory orders disappointed, falling 3.7% in April, with shipments and inventories also declining. Businesses appeared cautious amid tariff-related uncertainty and slowing demand.<\/p>\n\n\n\n FX Today:<\/strong><\/p>\n\n\n\n \u2022 EUR\/USD Slides Sharply as Bullish Momentum Stalls Below 1.1450:<\/strong> EUR\/USD declined 0.60% on Tuesday to settle at 1.1369, reversing sharply after failing to sustain a breakout above the 1.1450 resistance area. The pair posted its second consecutive bearish daily candle, as buying momentum faded below this supply zone. Short-term lower highs are now forming, underscoring growing seller control beneath recent peaks. The pair is edging closer to key support at the rising 50-day SMA at 1.1219. If selling pressure continues, interim support at 1.1300 may be tested, with stronger buying interest likely around 1.1200. A break below this level could expose the 100-day SMA near 1.0883. On the upside, a recovery back above the 1.1400\u20131.1450 band is required to revive bullish sentiment and target a fresh retest of 1.1500.<\/p>\n\n\n\n \u2022 GBP\/USD Holds Firm Above 1.3500 Despite Shallow Pullback <\/strong>f<\/strong>rom Recent Highs:<\/strong> GBP\/USD edged lower on Tuesday, closing at 1.3517 with a mild 0.20% loss, as the pair entered a consolidation phase after reaching fresh 2025 highs last week. Despite the modest pullback, GBP\/USD remains comfortably above key support at 1.3450, an area where buyers consistently stepped in throughout May. The broader uptrend remains intact, supported by the rising 50-day SMA at 1.3240. Price action continues to show higher lows and higher highs since April, with strong bullish momentum still in place. Immediate support is seen near 1.3450, followed by stronger demand around the 1.3350 zone. On the upside, a daily close above the recent high of 1.3559 would open the path toward the 1.3600 level and potentially 1.3700. <\/p>\n\n\n\n \u2022 USD\/CHF Bounces Off Multi-Month Lows as Short-Term Rebound Gains Traction:<\/strong> USD\/CHF posted a strong rebound, rising 0.89% to close at 0.8238, snapping a string of lower daily closes. The pair lifted off recent multi-month lows near the 0.8150\u20130.8200 support zone, where buyers defended key levels for a second time since April. This area aligns with the April and May swing lows and continues to attract dip-buying interest. Tuesday\u2019s rally marked USD\/CHF\u2019s first close back above 0.8200 in over two weeks. Immediate resistance now comes in at 0.8300, with the descending 50-day SMA at 0.8351 providing a key test. A sustained break above this zone could target the 0.8400 level. On the downside, failure to hold above 0.8200 would risk renewed selling pressure, potentially driving the pair back toward 0.8150 and 0.8100. <\/p>\n\n\n\n \u2022 USD\/JPY Rebounds <\/strong>f<\/strong>rom Support but Remains Trapped Below Key Moving Averages:<\/strong> USD\/JPY climbed, closing at 143.97 with a gain of 0.93%, after finding strong support just above the 142.00 level. The pair staged a sharp intraday rebound following several sessions of downward pressure but remains capped beneath the declining 50-day SMA at 144.92 and the 100-day SMA at 148.28. A close above the 145.00\u2013146.00 region would be required to shift momentum back in favour of buyers. To the downside, initial support remains at 142.00, with a break below exposing the May low near 141.00. A deeper decline could bring the 140.00 psychological level into play. <\/p>\n\n\n\n \u2022 Gold Slides Back Toward $3,350 After Failing to Extend Gains:<\/strong> Gold declined on Tuesday, closing at $3,353, down 0.85%, as the metal failed to sustain momentum above the $3,380\u2013$3,400 resistance zone. Sellers stepped in aggressively after recent highs near $3,392, triggering a two-day pullback. Despite the decline, gold remains in an overall uptrend, supported by a strong sequence of higher lows since March. The rising 50-day SMA at $3,235 continues to provide dynamic support. Immediate downside levels include the $3,333 intraday low and the $3,300 psychological level. A deeper correction could target the 50-day SMA if selling accelerates. On the upside, a close above $3,380 is needed to reignite bullish momentum and attempt another breakout toward $3,400 and beyond. <\/p>\n\n\n\n Market Movers:<\/strong><\/p>\n\n\n\n \u2022 Ferguson Enterprises Surges on Earnings Beat and Upgraded Outlook:<\/strong> Shares jumped 17% after Ferguson reported Q3 earnings of $2.50 per share, beating estimates. Revenue reached $7.62 billion, topping forecasts. <\/p>\n\n\n\n \u2022 Sitio Royalties Soars on $4.1 Billion Acquisition:<\/strong> Shares climbed 15% after agreeing to be acquired by Viper Energy, a Diamondback Energy unit, in a $4.1 billion deal expected to close in Q3. Viper shares rose 4%, while Diamondback added 3%.<\/p>\n\n\n\n \u2022 EchoStar Falls <\/strong>A<\/strong>fter Interest Payment Announcement:<\/strong>EchoStar shares slid 11% after the company disclosed it would not make $183 million in interest payments on Dish DBS notes. <\/p>\n\n\n\n \u2022 Dollar General Jumps After Raising Outlook:<\/strong> Shares rose 16% after Dollar General raised its full-year outlook and posted Q1 earnings of $1.78 per share on revenue of $10.44 billion.<\/p>\n\n\n\n \u2022 Constellation Energy Edges Lower on Meta Power Deal:<\/strong>Shares finished marginally lower after news that Meta signed a 20-year deal to buy 1.1 GW of nuclear power from Constellation\u2019s Illinois facility starting in 2027.<\/p>\n\n\n\n \u2022 Bumble Slips on JPMorgan Downgrade:<\/strong> Shares lost 6% after JPMorgan downgraded Bumble to underweight from neutral, citing market share losses to rival dating app Hinge.<\/p>\n\n\n\n \u2022 Credo Technology Soars on Strong Demand Outlook:<\/strong>Shares jumped 15% after the company reported strong demand from hyperscalers and forecast Q1 revenue between $185 million and $195 million, well above estimates.<\/p>\n\n\n\n After a day driven by strong tech leadership and rising oil prices, markets are now entering a stretch where momentum could be tested by policy signals and trade developments. With earnings season still weeks away and major economic data sparse, much of the near-term direction may hinge on geopolitical headlines and central bank commentary. Investors will also be watching whether recent strength in commodities, particularly crude, begins to influence inflation expectations and rate outlooks. For now, markets remain poised but sensitive to shifts in the global narrative.<\/p>\n","protected":false},"excerpt":{"rendered":" Anticipation around US-China trade discussions and another powerful rally in artificial intelligence stocks drove markets higher on Tuesday. Nvidia\u2019s surge helped boost the tech sector, while chipmakers Broadcom and Micron Technology also posted strong gains. Investors monitored mixed signals on the economic front, with the OECD cutting its US growth outlook and factory orders showing weakness. European markets responded toContinue Reading<\/a><\/p>\n","protected":false},"author":28,"featured_media":21497,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[110,1,112],"tags":[140,138,136],"class_list":["post-21496","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-espresso-morning-call","category-ix-intel","category-market-news","tag-international-news","tag-market-updates","tag-whats-new"],"acf":[],"aioseo_notices":[],"lang":"en","translations":{"en":21496,"zh_cn":21499,"zh_tw":21501,"vi":21503,"th":21505,"ko":21507,"pt":21509,"es":21511},"pll_sync_post":[],"_links":{"self":[{"href":"https:\/\/www.infinox.com\/global\/wp-json\/wp\/v2\/posts\/21496","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.infinox.com\/global\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.infinox.com\/global\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.infinox.com\/global\/wp-json\/wp\/v2\/users\/28"}],"replies":[{"embeddable":true,"href":"https:\/\/www.infinox.com\/global\/wp-json\/wp\/v2\/comments?post=21496"}],"version-history":[{"count":0,"href":"https:\/\/www.infinox.com\/global\/wp-json\/wp\/v2\/posts\/21496\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.infinox.com\/global\/wp-json\/wp\/v2\/media\/21497"}],"wp:attachment":[{"href":"https:\/\/www.infinox.com\/global\/wp-json\/wp\/v2\/media?parent=21496"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.infinox.com\/global\/wp-json\/wp\/v2\/categories?post=21496"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.infinox.com\/global\/wp-json\/wp\/v2\/tags?post=21496"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"\"](\"https:\/\/www.infinox.com\/global\/wp-content\/uploads\/sites\/5\/2025\/06\/IMG_1264.png\")
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