Asia Pacific stocks were mostly up Wednesday morning. The Shanghai composite is up 0.25% at 3,582.82. Overall, the Singapore MSCI up 1.60% at 356.70. Over in Hong Kong, the Hang Seng Index down 0.14% to 28,805. In Japan, the Nikkei 225 up 0.17% at 28,810, while the Topix index is down 0.05% at 1944.0. South Korea’s Kospi up 0.40% to 3299.99. Australia S&P/ASX 200 up 0.43% at 7332.2.
European equities Tuesday closing. The DAX futures contract in Germany traded 0.88% up at 15690.59, CAC 40 futures up 0.14% at 6567.44 and the UK 100 futures contract in the U.K. down 0.04% at 7,074.60.
In U.S. on Wall Street, the Dow Jones Industrial Average closed up 0.03% at 34292.30. The S&P 500 up 0.03% to 4291.81 and the Nasdaq 100 down 0.07% at 14486.5, NYSE closes at 16547.57 down 0.16%.
In the Forex market, GBPUSD up 0.11% at 1.38455. The USDJPY down 0.02% at 110.457. The USDCHF up 0.12% at 0.92173. EURUSD up 0.02% at 1.18964, EUR/GBP up 0.01% at 0.85937. The USD/CNY down 0.09% at 6.4574, at the time of writing.
In the commodity market U.S. Gold futures down 0.20% at $1,757.20. Elsewhere, Silver futures up 0.06% to $25.759 per ounce, Platinum down 0.47% at $1064.46 per ounce, and Palladium up 0.15% to $2,686.00.
Crude Oil mix on Wednesday; Brent crude oil down 0.25% to $74.44 barrel while U.S. West Texas Intermediate (CLc1) is up 0.12% at $72.85.
In the Cryptocurrency Markets, BTCUSD at 35022.51 down 2.47%, Ethereum at 2134.61 down 1.31%, Litecoin at 142.28 down 1.23%, at the time of writing.
TOP STOCKS TO WATCH OUT TODAY:
MORGAN STANLEY up 3.352% at $90.64, NIKE Inc. up 2.356% at $155.95, ETSY Inc. up 2.077% to $202.53, CITI GROUP Inc. down 2.559% to $69.68, INTEL Inc. down 1.27% to $56.75, TESLA Inc. down 1.156% at $680.76.
US: U.S. free-trade agreements reached over the past 3 1/2 decades have had a “small but positive” effect on the world’s biggest economy, a report by a bipartisan federal agency analysing trade issues showed.
Trade pacts concluded since 1984 raised gross domestic product by $88.8 billion, or 0.5%, and added 485,000 full-time equivalent jobs, the International Trade Commission said in a 390-page report released Tuesday. Job gains weren’t evenly distributed, with the biggest improvements seen for college-educated males, it said.
While free-trade agreements “help level the playing field when other markets are less open than those of the U.S.,” critics say the deals “often serve the interests of multinational corporations at the expense of American workers — for example, by promoting trade liberalization and investor protections while failing to adequately protect worker rights and the environment,” the commission said.
The Biden administration has promised its trade policy will focus on workers and the middle class as the nation recovers from the Covid-19 pandemic.
The study examined the economic effects only of trade agreements for which Congress enacted implementing bills, including those under so-called Fast-Track Authority before 2002 and those made under Trade Promotion Authority since that year.
Eurozone: European airline passenger rights, which include carriers’ legal obligation to pay refunds for cancelled flights, have not been safeguarded during the COVID-19 pandemic, an EU report released on Tuesday said.
The European Court of Auditors (ECA) found that in virtually all cases airlines were able to sidestep rules requiring a cash refund for cancelled flights and offer customers vouchers for future journeys instead.
The ECA, which looks after the interests of taxpayers in the 27-member European Union but does not have legal powers, said travel restrictions led to 7,000 air routes being closed in the European airport network after the pandemic began last year.
Flight cancellations affected tens of millions of passengers across the bloc between March 2020 and March 2021, the ECA said.
EU law grants consumers immediate cash refunds for cancelled flights, plus compensation for those scrapped with less than two weeks’ notice or for delays of over three hours.
Important Data: German Unemployment Change (Jun) today at 3:55 this time estimated -20K, previously which was -15K. EURO ZONE CPI (YoY) (Jun) today at 5:00 this time estimated 1.9%, previously which was 2.00%. CANADA GDP (MoM) (Apr) today at 8:30 this time estimated -0.8%, previously which was 1.1%. US Crude Oil Inventories today at 10:30 this time estimated -4.686M, previously which was -7.614M.
TRADE SUGGESTION- SELL AT 1.38438, TAKE PROFIT AT 1.38300 AND STOP LOSS AT 1.38551
TRADE SUGGESTION- SELL AT 1.18962, TAKE PROFIT AT 1.18731 AND STOP LOSS AT 1.19161
TRADE SUGGESTION- SELL AT 152.994, TAKE PROFIT AT 152.754 AND STOP LOSS AT 153.366
TRADE SUGGESTION- SELL AT 119.934, TAKE PROFIT AT 119.784 AND STOP LOSS AT 120.178
TRADE SUGGESTION- BUY AT 14575.49 TAKE PROFIT AT 14583.67 AND STOP LOSS AT 14570.81
WTI CRUDE OIL
TRADE SUGGESTION- BUY AT 73.35 TAKE PROFIT AT 73.60 AND STOP LOSS AT 73.23
TRADE SUGGESTION- SELL AT 1758.38, TAKE PROFIT AT 1755.12 AND STOP AT 1763.86
TRADE SUGGESTION- SELL AT 34979.95 TAKE PROFIT AT 33750.57 AND STOP AT 35582.14