Global Market Cues | Dow was up 0.06% at 34,466; S&P was 0.47%; Nasdaq was up 0.78%.

11 JUNE 2021 09:13 IST | ENGLISH | MONEY & FINANCES | GENERAL AUDIENCE

Poonam Saney

US
– S&P 500 closed at record high as investors brushed off the highest inflation since 2008.
– All three major U.S. stock indexes advanced, with market-leading mega cap stocks putting the NASDAQ out front.
– Consumer prices for May accelerated at their fastest pace (up 5%) since the summer of 2008 amid economic recovery
– U.S. first-time unemployment benefit claims fell to its lowest level since March 2020 for the week ended June 5.
– 10 year Treasury yield closed down 5 bps to 1.44% despite increased consumer prices.
– Dow was up 0.06% at 34,466 while the S&P was 0.47%. Nasdaq was up 0.78%.
Europe
– European stocks inched to fresh highs as the ECB raised its recovery outlook and promised to keep ample stimulus flowing
– ECB raised its 2021 euro zone economic growth projections to 4.6% and Inflation projections to 1.9%
– Interest rate-sensitive banking stocks rose 0.4%, while tech stocks rose 0.9%
– Travel and leisure stocks dropped 1.2% following recent gains
– DAX ended flat while CAC was down 0.26%. FTSE ended up by 0.10%
Asia
– Asian stocks traded steady after U.S. shares and Treasuries rallied
– ASX 200 (Australia) was down 0.22% while Kospi was up 0.50%. Nikkei was flat
Oil
– West Texas Intermediate crude rose 0.3% to $70 a barrel amid news of removal of sanctions on certain Iranian officials by US
Gold
– Gold futures rose 0.3% to $1,901 an ounce.