US Opening

Written on 05/29/2023


Key Global Events

Reaching an agreement on negotiating to raise the U.S. debt ceiling causes markets to breathe a sigh of relief, averting the likely default announced by Treasury Secretary Yellen. President Biden and Republican spokesman McCarthy reached preliminary agreement to suspend for two years the debt ceiling, now set at $31.4 trillion.
Turkey on Sunday voted for another five years at the helm of Recep Tayyip Erdogan, the nationalist president now entering his third decade in power.
U.S. stock markets will remain closed to celebrate Memorial Day.
Major European market listings turn lower during the session. Milan's FTSE MIB -0.67%, Paris's CAC -0.33%, Madrid's IBEX -0.39%, London's FTSE remained closed for holidays. Wall Street futures trade higher driven by the good news of a debt ceiling deal. Dow Jones +0.19%, S&P500 +0.23% and Nasdaq +0.29%.

Forex & Commodities

The EURUSD cross trades negative -0.04% at 1.0715. Cable trades +0.06% at 1.2348. Power grab for the U.S. dollar causing commodities to eat up the gain so far. Oil trades around 72.23 losing $1 a barrel since this morning. Gold trades at $ 1966 (+0.19%).

Index

Asia's markets traded mixed the first session of the week. The benchmark index, Tokyo's Nikkei closes at the highest since 1990 recording + 1.03%. China's Hang Seng index trades at 18,551 giving up -1.04%.

Global Macroeconomic Data 
US - USA - Wall Street will remain closed because of Memorial Day.