Pre-Market Report – Wednesday 26 June: ASX to fall. SPI Futures down 29 points (-0.37%).

Market Updates

Another floppy start.. US equities ended mixed overnight. The NASDAQ rallied 1.26%, buoyed by gains in chip stocks and Nvidia, up 6.8% bouncing back from a three-session sell-off. The S&P 500 rose 0.39%, snapping a three-day losing streak, while the Dow tumbled 299 points (-0.76%). Up 12 points at best. Down 414 points at worst. US Treasury yields finished near flat line. During trade, the yield curve inversion between the 2Y and 10Y notes deepened to more than 50bps for the first time this year before reversing after strong demand at the 2Y auction nudged that yield off its high. In economics, the US consumer confidence index eased in June amid worries about the economic outlook. The index fell to 100.4 from a downwardly revised 101.3 in May. In Fed speak, more hawkish commentary from Bowman stating it is not yet appropriate to cut rates, and she remains open to hiking rates should inflation progress stall. Bitcoin topped 62k, rebounding from heavy fund outflows the day prior, and the USD Index gained 0.14%.Why not sign up for a free trial? Get access to expert market insights and manage your investments with confidence.
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