- \n
- Dow Ends Flat Despite Trade Optimism<\/strong>: The Dow Jones Industrial Average was virtually unchanged, slipping just 1.1 points to close at 42,865.77. Traders shrugged off initial enthusiasm over the US-China trade framework as they awaited confirmation from both presidents.\u00a0<\/li>\n\n\n\n
- S&P 500 Snaps Win Streak on Mixed Signals<\/strong>: The S&P 500 declined 0.27% to end at 6,022.24, halting a three-day rally. Weaker-than-expected CPI data calmed inflation fears, but investors continue to show restraint.<\/li>\n\n\n\n
- Nasdaq Slides as Chip Stocks Tumble<\/strong>: The Nasdaq Composite dropped 0.5% to 19,615.88, under pressure from broad weakness in semiconductor shares. Intel led the losses, falling more than 6%, while AMD, Marvell, and Texas Instruments also posted declines.\u00a0<\/li>\n\n\n\n
- Europe Mixed as London Hits Record High<\/strong>: European markets ended a choppy session mostly lower on Wednesday as investors digested the early contours of the US-China trade agreement alongside regional developments. The pan-European Stoxx 600 declined 0.19%, with Germany\u2019s DAX falling about 0.2% to 23,976 and France\u2019s CAC 40 dropping 40 points, or 0.52%. Italy\u2019s FTSE MIB edged slightly lower, closing near 40,180 as investors weighed the trade outlook and lingering inflation risks. In contrast, the UK\u2019s FTSE 100 rose 0.13% to 8,864.35, marking its highest-ever close. London-listed housebuilders extended their rally for a second day after the government confirmed a \u00a339 billion boost for social and affordable housing.\u00a0<\/li>\n\n\n\n
- Asia Rallies on Trade Breakthrough and Currency Shift<\/strong>: Asia-Pacific equities climbed Wednesday as markets cheered progress on the US-China trade framework and signs of a regional shift away from dollar dependency. China\u2019s CSI 300 index advanced 0.75% to 3,894.63, and Hong Kong\u2019s Hang Seng added 0.79%, lifted by optimism over export approvals and reduced tech restrictions in the proposed deal. Japan\u2019s Nikkei 225 gained 0.55% to 38,421.19, with the Topix flat. South Korea\u2019s Kospi jumped 1.23% to 2,907.04, its highest level since January 2022, while the small-cap Kosdaq surged nearly 2%. Australia\u2019s ASX 200 rose slightly by 0.06% after hitting a fresh high during the session, and India\u2019s Nifty 50 climbed 0.43%. Meanwhile, ASEAN\u2019s new economic strategy to promote local currency trade added momentum, as investors welcomed a shift in regional monetary policy focus. De-dollarisation themes and tariff optimism combined to fuel risk appetite across the continent.<\/li>\n\n\n\n
- Oil Jumps Over 4% on Middle East Escalation<\/strong>: Oil prices surged as tensions flared in the Middle East. US WTI crude rose $3.17, or 4.9%, to $68.15 a barrel, while Brent gained 4.3% to settle at $69.77. The US authorised partial evacuations of its Iraq embassy, and Iran\u2019s defence officials issued strong warnings. Fears of supply disruptions fuelled the rally across energy markets.<\/li>\n\n\n\n
- Treasury Yields Fall on Cool CPI and Strong Auction<\/strong>: The 10-year Treasury yield dropped 6 basis points to 4.12% after inflation data came in below expectations. The 2-year yield also declined to 3.947%, while the 30-year yield eased to 4.926%. A $39 billion auction of 10-year notes was well received, indicating solid demand despite fiscal policy concerns. Softer inflation data increased market bets on potential Fed rate cuts later this year.<\/li>\n\n\n\n
- US Inflation Rises Less Than Expected in May<\/strong>: US CPI rose 0.1% in May, below the forecasted 0.2%, and core CPI also increased by just 0.1%. On a yearly basis, headline inflation held at 2.4% while core rose 2.8%, both slightly below estimates. Falling gasoline and vehicle prices offset shelter and food gains. Real average hourly earnings increased 0.3% month-over-month and 1.4% year-over-year, reflecting limited wage pressures.<\/li>\n<\/ul>\n\n\n\n
FX Today:<\/strong><\/p>\n\n\n\n
![\"\"](\"https:\/\/www.infinox.com\/global\/wp-content\/uploads\/sites\/5\/2025\/06\/Currency-Strenght-12Jun25.png\")
<\/figure>\n\n\n\n- \n
- EUR\/USD Extends Rally Toward 1.1500<\/strong>: EUR\/USD closed at 1.1486 rose 0.57% on Wednesday, marking its fifth consecutive daily gain. The pair briefly touched an intraday high of 1.1499 before easing slightly. Price action remained bullish, with higher highs and higher lows across recent sessions, and all major moving averages sloping upward beneath current price. The 50-day SMA sits at 1.1294, while the 100-day and 200-day SMAs are at 1.0948 and 1.0826 respectively. The recent surge began after a breakout above 1.1150 in early June, and there has been no meaningful pullback since. Technical structure remains firmly bullish, with near-term support seen at 1.1420\u20131.1440. A decisive break above 1.1500 would open the door for a fresh leg higher, with no major resistance overhead.<\/li>\n\n\n\n
- GBP\/USD Holds Firm Above 1.3500<\/strong>: GBP\/USD gained 0.34% to close at 1.3543 after reaching an intraday high of 1.3567. Despite the rise, the pair stayed just shy of Monday\u2019s peak at 1.3573. This marked the third consecutive daily close above the 1.3500 level, indicating ongoing strength. The 50-day SMA is at 1.3312, and the 100-day and 200-day SMAs are positioned at 1.3009 and 1.2916, all trending upward. Price remains in the upper half of a rising channel that started in mid-April, with intraday lows repeatedly holding above 1.3460. Buyers have consistently defended that zone, and no price action has tested below 1.3400 this week. A close above 1.3573 would confirm continuation of the current rally, while the 1.3460\u20131.3570 range remains a key consolidation zone.<\/li>\n\n\n\n
- USD\/JPY Slips as Rebound Momentum Fades<\/strong>: USD\/JPY fell 0.20% on Wednesday, ending the session at 144.58 after reaching a high of 145.464 earlier in the day. The pair formed a small-bodied candle with a longer upper wick, reflecting selling pressure near short-term resistance. The 50-day SMA sits near Wednesday\u2019s close at 144.22, while the 100-day and 200-day SMAs are at 147.58 and 149.38. Despite multiple attempts, price has failed to retake the 100-day average since early April, and rallies toward that level have been met with steady supply. The broader trend remains bearish, with the pair still tracking lower from the April peak near 157.50. Immediate resistance is now seen at 145.50, while the lower end of the current range stands around 143.20. Unless price breaks through either of these boundaries, the pair remains directionless and trapped within converging moving averages.<\/li>\n\n\n\n
- Gold Edges Toward Range Highs at $3,360<\/strong>: Gold settled at $3,353, climbed 0.92%, building on support from the rising 50-day SMA, which stands at $3,269. The precious metal posted a strong bullish candle after two sessions of sideways consolidation, pushing back toward resistance around $3,360. The overall trend remains upward, supported by the 100-day SMA at $3,088 and the 200-day at $2,862. The rally keeps gold within its broader range between $3,300 and $3,425, with price still capped by last month\u2019s highs. Buyers continue to defend dips toward the $3,300 zone, with further support below at the 50-day average. A break above $3,425 would confirm bullish continuation, while a close under $3,269 could open downside toward $3,100. For now, momentum remains positive but still awaits a breakout trigger.<\/li>\n\n\n\n
- Silver Retreats After Multi-Year High Test<\/strong>: Silver declined 0.77% on Wednesday to close at $36.25, easing after touching an intraday high of $36.64. The session formed a small-bodied candle with a notable upper wick, indicating resistance near recent highs. Despite the pullback, the metal remains firmly above all key moving averages, with the 50-day SMA at $32.99, the 100-day at $32.64, and the 200-day at $31.74, all trending upward. Short-term resistance is now firmly established around $36.64, with support seen near $35.50. While momentum appears to be cooling, the broader trend remains intact unless price closes below $34.60 or breaks the rising 50-day average.<\/li>\n<\/ul>\n\n\n\n
Market Movers:<\/strong><\/p>\n\n\n\n
- \n
- Intel Leads Tech Declines as Chip Stocks Slide<\/strong>: Shares of Intel dropped more than 6%, dragging down the S&P 500 and Nasdaq 100 amid broad semiconductor weakness. ON Semiconductor and GlobalFoundries each lost over 2%, while AMD, Texas Instruments, and Marvell Technology all fell more than 1%, weighing on tech sentiment.<\/li>\n\n\n\n
- Steelmakers Fall on Tariff Easing Speculation<\/strong>: Cleveland-Cliffs plunged over 8% and Nucor sank more than 6% after reports that the US and Mexico are nearing a deal to lift tariffs on some steel imports. Steel Dynamics and Commercial Metals also declined over 2%.<\/li>\n\n\n\n
- American Superconductor Tumbles on Discounted Stock Sale<\/strong>: Shares of American Superconductor Corp sank over 14% after the company priced a public stock offering between $28 and $29 per share, well below Tuesday\u2019s close of $34.35.\u00a0<\/li>\n\n\n\n
- Chewy Drops on Margin Miss in Q1 Results<\/strong>: Chewy shares fell more than 11% after the company reported a first-quarter gross margin of 29.6%, missing analyst expectations of 29.9%.\u00a0<\/li>\n\n\n\n
- Gitlab Sinks on Soft Revenue Forecast<\/strong>: Gitlab declined over 10% after projecting second-quarter revenue between $226 million and $227 million, slightly below the consensus estimate of $227.1 million.\u00a0<\/li>\n<\/ul>\n\n\n\n
Investor enthusiasm cooled on Wednesday as markets digested the preliminary US-China trade framework and another tame inflation print. While equities pulled back modestly, the softer CPI reading bolstered hopes for potential rate cuts later this year, helping to cap losses. Energy stocks outperformed on surging oil prices, but weakness in semiconductors, steelmakers, and airlines dragged broader indices lower. With the trade deal awaiting final approval and geopolitical tensions rising in the Middle East, markets may remain volatile in the coming sessions. Focus now shifts to upcoming US economic data and official confirmation of the cross-Pacific tariff accord.<\/p>\n","protected":false},"excerpt":{"rendered":"
Markets cooled on Wednesday as investors weighed a preliminary US-China trade framework and softer-than-expected inflation data. After three straight sessions of gains, equities paused as key indices hovered near previous closing levels. The S&P 500 edged lower while the Dow was virtually unchanged, and the Nasdaq underperformed, dragged by chip stocks. Consumer prices rose justContinue Reading<\/a><\/p>\n","protected":false},"author":28,"featured_media":21741,"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-21739","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":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t
- Steelmakers Fall on Tariff Easing Speculation<\/strong>: Cleveland-Cliffs plunged over 8% and Nucor sank more than 6% after reports that the US and Mexico are nearing a deal to lift tariffs on some steel imports. Steel Dynamics and Commercial Metals also declined over 2%.<\/li>\n\n\n\n
- GBP\/USD Holds Firm Above 1.3500<\/strong>: GBP\/USD gained 0.34% to close at 1.3543 after reaching an intraday high of 1.3567. Despite the rise, the pair stayed just shy of Monday\u2019s peak at 1.3573. This marked the third consecutive daily close above the 1.3500 level, indicating ongoing strength. The 50-day SMA is at 1.3312, and the 100-day and 200-day SMAs are positioned at 1.3009 and 1.2916, all trending upward. Price remains in the upper half of a rising channel that started in mid-April, with intraday lows repeatedly holding above 1.3460. Buyers have consistently defended that zone, and no price action has tested below 1.3400 this week. A close above 1.3573 would confirm continuation of the current rally, while the 1.3460\u20131.3570 range remains a key consolidation zone.<\/li>\n\n\n\n
- S&P 500 Snaps Win Streak on Mixed Signals<\/strong>: The S&P 500 declined 0.27% to end at 6,022.24, halting a three-day rally. Weaker-than-expected CPI data calmed inflation fears, but investors continue to show restraint.<\/li>\n\n\n\n