Close June 4th

​In European Equity Markets the pan-European Stoxx 600 climbed 0.65%, while technology stocks were one of only a few sectors still in the red with a 0.2% decline. Stocks rebounded toward the end of Tuesday’s session  amid recovering investor sentiment worldwide, with autos emerging as the leading performer with a 3.2% rise. Shares of French gaming firm Ubisoft fell 3.2% after it was revealed that the Guillemot family company had sold shares worth 14.4 million euros. German telecommunications provider 1&1 Drillish emerged as the top performer in the Stoxx 600, rising 4.8%



In Currency Markets the U.S. dollar was steady on Tuesday after Federal Reserve Chair Jerome Powell alluded to the possibility of an interest rate cut in the face of economic risks, including the global trade war. The dollar index, which measures the greenback against a basket of six rival currencies, fell briefly on the news before recouping those losses and was last 0.06% higher on the day at 97.204. The euro pulled back from six-week highs after lower-than-expected euro zone inflation in May brought the single currency’s rally to a halt. It was 0.02% firmer at $1.124.



In Commodities Markets oil prices fell on Tuesday to their lowest since January on signs that an economic slowdown is starting to dent energy demand and as Russia’s top oil producer said it opposed extending joint cuts with OPEC until the end of the year. Front-month Brent crude futures were at $60.96, 32 cents or 0.55% below the last session’s close. Brent fell as low as $60.21 earlier, its weakest since January. U.S. West Texas Intermediate crude futures were at $53.13 per barrel, down 12 cents or 0.2%.



In US Equity Markets stocks rose on Tuesday, led by a rebound in the technology sector, as Federal Reserve Chair Jerome Powell said the central bank would act “as appropriate” to trade war risks, leaving the door open for a possible rate cut. The S&P 500 was up 1.47%, at 2,784.93 and the Nasdaq Composite rose 1.85%, at 7,468.42. Utilities and real estate, considered defensive sectors, lost more than 1% and were the only two among the 11 S&P sectors in the red. Interest-rate sensitive financial stocks gained 2.19%, eyeing their biggest one-day rise in two-months.



In Bond Markets U.S. Treasury yields rose on Tuesday with longer-dated yields climbing from their lowest since September 2017, as Wall Street stock prices recovered from recent losses tied to growing trade conflicts between the United States and its trade partners. Benchmark 10-year Treasury yields rose 5.70 basis points to 2.138% after hitting 2.061%, their lowest since September 2017 on Monday. Two-year yields declined 7.10 basis points to 1.912%. They touched 1.834% on Monday, their lowest since December 2017.