US indices closed higher on Tuesday as the Dow jumped over 512 points. Shares in the Automobiles & Components (+4.65%), Semiconductors & Semiconductor Equipment (+4.3%) and Consumer Durables & Apparel (+4.18%) sectors gained momentum. On the economic data front, factory orders declined by 0.8% in April (estimated -1%) from an increase of 1.3% in March. Durable goods orders decreased by 2.1% in April vs. a rise of 2.6% a month earlier.
The S&P 500 (2,803.27) stays below both its 20d moving average (2,831.59 – negative slope) and 50d moving average (2,868.06 – flat slope).
European markets are expected to open on a positive note.<\/p>\n\n\n\n
Foreign Exchange<\/strong><\/p>\n\n\n\n The US dollar was bearish against all of its major pairs on Tuesday. On the economic data front, factory orders declined by 0.8% in April (estimated -1%) from an increase of 1.3% in March. Durable goods orders decreased by 2.1% in April vs. a rise of 2.6% a month earlier.
The Euro was bearish against all of its major pairs with the exception of the JPY and the USD. The euro zone CPI index rose by 1.2% in May YoY (+1.3% expected), a low since April 2018, after a 1.7% increase in April. Separately, the euro zone unemployment rate fell to 7.6% in April, the lowest since August 2008, from 7.7% in March. It was expected to be flat.
The Australian dollar was higher against all of its major pairs.
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