As of Fri, May 31, Singapore Time zone UTC+8
Dollar Index +0.01%, 98.15
USDJPY, -0.21%, $109.33
EURUSD, -0.05%, $1.1130
GBPUSD, -0.16%, $1.2608
USDCAD, +0.14%, $1.3533
AUDUSD, -0.17%, $0.6906
NZDUSD, -0.15%, $0.6504
In trade, China has put purchases of American supplies on hold after the trade war between Washington and Beijing escalated. The U.S. Soybean Export Council has targeted non-China buyers to pick up the slack, including Japan, Mexico, Myanmar, Nigeria, Pakistan, Taiwan and Thailand. While demand from other buyers has improved, the countries collectively cannot replace China, which brings in roughly two thirds of global soybean exports.
The 2-yr yield and the 10-yr yield were both up five basis points in overnight action, as Treasuries cooled off from their lengthy advance. Buying interest, however, picked up during the session, leaving the 2-yr yield down two basis points to 2.06% and the 10-yr yield down one basis point to 2.23%. The U.S. Dollar Index finished unchanged at 98.15.
S&P500, +0.21%, 2,788.86
Nasdaq, +0.40%, 7,245.40
Nikkei Futures, -0.84%, 20,882.5
The S&P 500 finished higher by 0.2% after finding some support at its 200-day moving average (2776). The S&P 500 real estate (+0.7%), information technology (+0.6%), health care (+0.5%), and consumer discretionary (+0.5%) sectors outperformed the broader market. The Philadelphia Semiconductor Index (+0.7%) advanced for the second straight day.
The S&P 500 energy sector (-1.2%) was the worst-performing group on Thursday, as oil prices ($56.40/bbl, -$2.44, -4.1%) tumbled on global growth concerns. Shares of Dollar General (DG 127.00, +8.49, +7.2%) and Dollar Tree (DLTR 98.31, +2.99, +3.1%) gave the consumer discretionary sector a boost following their earnings results/guidance. PVH Corp. (PVH 84.49, -14.76, -14.9%), however, offset some of their strength after it disappointed investors with its lower guidance.
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