As of Tue, Jun 4th, Singapore Time zone UTC+8
Dollar Index -0.54%, 97.22
USDJPY, -0.22%, $108.04
EURUSD, +0.68%, $1.1245
GBPUSD, +0.25%, $1.2664
USDCAD, -0.53%, $1.3442
AUDUSD, +0.44%, $0.6970
NZDUSD, +0.84%, $0.6591
U.S. ISM Manufacturing Index for May came in at 52.1% (consensus 52.6%), down from 52.8% in April. The May reading is the lowest since October 2016. The report reflects a deceleration in national manufacturing activity that will contribute to the burgeoning growth concerns for the U.S. economy.
St. Louis Fed President James Bullard (FOMC Voter) said that slower economic growth could be sharper-than-expected due to the trade uncertainty. Bullard added that a rate cut may soon be warranted to boost inflation. Growing expectations for a rate cut, and general growth concerns, helped send the 2-yr yield down 12 basis points to 1.83%. The 10-yr yield declined six basis points to 2.08%. The U.S. Dollar Index fell 0.54% to 97.22. WTI crude decreased 0.5% to $53.25/bbl, giving up an intraday rebound effort.
S&P500, -0.28%, 2,744.45
Nasdaq, -2.10%, 6,978.02
Nikkei Futures, +0.50%, 20,425.0
S&P 500 lost 0.28% on Monday, as shares of big tech companies fell on various reports that heightened antitrust concerns. Lingering trade and growth concerns also helped curb risk sentiment and underpin the strength in U.S. Treasuries.
Facebook (FB 164.15, -13.32, -7.5%), Alphabet (GOOG 1036.23, -67.40, -6.1%), Amazon (AMZN 1692.69, -82.38, -4.6%), and Apple (AAPL 173.30, -1.77, -1.0%) were all singled out in various reports indicating that the companies could face antitrust scrutiny by the Department of Justice and/or Federal Trade Commission. These companies represent some of the most widely-held stocks in the U.S., and their out-sized losses weighed heavily on the Nasdaq and on the S&P 500 communication services (-2.8%), information technology (-1.8%), and consumer discretionary (-1.2%) sectors. The other eight S&P 500 sectors finished higher, led by materials (+3.4%), to provide offsetting support.