Recovery in the US stock market continues. The good mood of investors is also reflected in the cryptocurrency market, which has recovered significantly.
Yesterday’s session on the US stock market ended with strong growth of major indices (S&P 500 +2.76%, DJIA +2.43%, Nasdaq Composite +3.11%). The S&P 500 closed at its highest since June 9, approaching the 4,000 mark. (3936 points). This morning, futures for US indices continued to rise (S&P 500 +0.36%).
This recovery in the stock market continued this morning in the stock markets of Asia and Oceania. The Japanese Nikkei 225 (+2.67%) rose the most in this region today, coming out of the consolidation that lasted over the previous 5 weeks. European share price gains continued this morning (DAX + 0.39%, CAC 40 + 0.46% around 9:40 am).
Reflection in the markets. Stock market in green
In general, the Polish stock market indices were also broadly up this morning, but lagged significantly behind their counterparts in the developed markets: WIG-20 (+0.57% around 9:50) was still clearly below its local highs over the past 5 weeks . . Unimot’s share price today was the highest in 5 years. Bumech’s share price today was the highest in 8 years. The highest since the end of 2019 today was the share price of VRG (formerly Vistula Group).
Yesterday’s 10-year US Treasury yield rose above the 3% level, and this morning it slightly corrected this increase. The yield on US 2-year bonds is still about 0.2 percentage points. exceeded the 10-year yield (“inversion” of the yield curve). Yields on Polish 10-year bonds also fell slightly this morning, but still remained above their lows over the past 2.5 months.
Raw materials are cheaper. Crude oil even lower
More than 1 percent of crude oil fell this morning (WTI -1.42%, Brent -1.09%). The price of contracts for natural gas on the NYMEX also fell slightly (-0.39%). After an unsuccessful first assault on the parity level against the euro a few days ago, the US dollar continued to weaken (EUR/USD +0.35%, around 9:30). The change in the USD/JPY rate this morning was insignificant (-0.02%). The Polish zloty is slightly up this morning (USD/PLN -0.41%, EUR/PLN -0.1%).
After more than 9 per cent. Yesterday’s rise in the price of bitcoin against the US dollar consolidated this morning at the highest level in 5 weeks (-0.1% around 9:25).
Source: Wprost
