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Energy sector pushed global stocks higher - Wednesday Review, June 2

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Miguel A. Rodriguez
Miguel A. Rodriguez
03 June 2021
Despite the positive economic data, investors are still concerned about inflation

The US

Wall Street was moved by the energy sector, which continued to rack up gains. Moreover, investors are waiting for the job numbers due Friday. USA30 gained 0.07%. USA500 and TECH100 each added 0.14%.

Crude oil rose 1.48% to $68.72 a barrel.

Gold was up 0.32% to $1,911.05 per ounce.

The Dollar Index was up 0.10% at 89.905.

 

Asia and Australia

Markets traded in a mixed fashion amid positive economic data and concerns about the US Federal Reserve withdrawing stimulus measures earlier than expected. Japan225 rose 0.48%.

HongKong45 edged down 0.06%.

Down under, Australia200 rose 0.77% after data released earlier in the day showed a 1.8% quarter-on-quarter increase in GDP.

 

Europe

Stocks mainly gained as energy companies got a lift as oil pushed further into record territory. Germany30 added 0.23% hitting a new all-time high. France40 rose 0.2%, while UK100 was flat.

Brent oil went up 1.42% to $71.25 a barrel.

EUR/USD traded at 1.2210.

Sources: investing.com, marketwatch.com

This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.