Welcome to Extreme Investor Network, your go-to source for all things related to the stock market, trading, and Wall Street. Today, let’s take a closer look at the latest trends in the US equity market and what to watch out for in the Asian session on Tuesday, May 21.
On Monday, the Dow experienced a slight decline of 0.49%, while the Nasdaq Composite Index and S&P 500 saw gains of 0.65% and 0.09%, respectively. These movements could set the tone for the upcoming Asian session, so it’s crucial to stay informed.
In the Asian Economic Calendar for Tuesday, May 21, Australian consumer confidence figures will be a key highlight. Economists are forecasting a 0.9% increase in the Westpac Consumer Confidence Index to 83.1 in May. A rise in consumer confidence could indicate a positive trend in household spending, which has been impacting the Australian retail sector.
Additionally, keep an eye on the RBA Meeting Minutes for more insights into the Reserve Bank of Australia’s monetary policy stance. Recent wage growth and unemployment figures have tempered expectations of an RBA rate hike, leading to increased buyer demand for ASX 200-listed stocks.
Investors should also pay attention to the Bank of Japan’s commentary, especially regarding discussions on a potential June interest rate hike. These talks could impact the USD/JPY pair and influence buyer appetite for Nikkei-Index listed stocks. Any hints of a rate hike could boost demand for the Japanese Yen, affecting the buying interest in Nikkei Index export stocks.
In the commodities market, on Monday, gold spot (XAU/USD) gained 0.42% to close at $2,425.31, while WTI crude oil dipped by 0.32% to $79.80 per barrel.
Stay tuned to Extreme Investor Network for more insights and analysis on the latest trends in the stock market and beyond. Make informed decisions and stay ahead of the curve with our expert guidance and exclusive content.