Today, investors are waiting for the release of personal consumption expenditures (PCE) data to assess inflationary pressures

Against the background of reducing unemployment, the US stock indices rose slightly on Thursday. The S&P 500 Index increased by 0.12% and the Dow Jones Industrials added 0.41%. The indices have remained about at the same level for the last two months. On the one hand, the soft monetary policy from the Fed is pushing the markets up. On the other hand, concerns about high inflation have not gone anywhere. Also, the US Treasury Secretary Janet Yellen noted that the Fed's interest rate is lagging behind real market rates. With the continuation of discussions on increasing taxes, this situation restrains further growth of indices.

European stock indices are multidirectional for now. The DAX and FTSE 100 have decreased slightly on Thursday, while the French CAC 40 has grown. But the general dynamics of the indices is still upward. In Europe, the expansion of vaccination continues, so investors expect an acceleration of economic recovery in the coming months. European airline stocks are already showing signs of recovery.

Gold prices retain the overall ascending dynamics. Gold gained 0.8% within a week's time and is demonstrating its fourth consecutive weekly growth. Investors are waiting for the Core Personal Consumption Expenditures data today. Negative statistics will increase the gold prices later on.

Oil continues to rise. At the end of Thursday, "black gold" rose by more than 5%. The market is supported by the increased demand for oil in the US and Europe on the eve of the summer season.

Macroeconomic statistics in Japan were weak. The unemployment rate in Japan rose, while the number of jobs fell in April. Japan's economy contracted in the first quarter, and many analysts do not expect a quick recovery. In its turn, Asian stock indexes are now highly correlated with the US stock indexes. Special attention is paid to the US policy on stimulus measures from the Biden administration.

Main market quotes:

S&P 500 (F) 4,200.88 4.89 (+0.12%)

Dow Jones 34,464.64 +141.59 (+0.41%)

DAX 15,406.73 -43.99 (-0.28%)

FTSE 100 7,019.67 -7.26 (-0.10%)

USD Index 89.98 -0.06 (-0.07%)

• – US Core PCE Price Index (m/m) at 15:30 (GMT+3).

by JMarkets, 2021.05.28

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.