Global indices saw poor performances across the globe as investors still await news on interest rate cuts. Poor performance was mainly driven by data from the United States and China, with the US posting strong GDP data for the first quarter at 1.3%. Still, these positives were offset by April’s PCE Index forecasts, which indicate that inflation will be a persistent challenge.

Index Performance

FTSE 100: -1.73%

FTSE 250: -0.12%

CAC 40: -2.28%

DAX: -1.13%

SSE: -2.21%

Hang Seng: -7.87%

Nikkei: -0.72%

ASX 200: -1.44%

Dow Jones: -2.81%

NASDAQ: -0.12%

S&P 500: -0.51%

Events

Microsoft unveiled its new AI-capable laptops in partnership with Qualcomm.

Ryanair posts its highest annual profits at 700 million euros as the airline sees its passenger numbers top pre-covid levels.

After strong earnings, Wix saw their stock climb more than 25% on Tuesday, the 21st.

The UK CPI is strong at 0.3 and 2.3 MoM and YoY, respectively.

Nividia smashes its earnings expectations, boasting a pre-market increase of 6%, as the chip maker anticipates second-quarter revenue of $28 billion.

The pound enters a period of volatility as Prime Minister Rishi Sunak announces a general election for the 4^th of July.

Anglo American rejects a third takeover bid from mining giant BHP Group, valuing the company at £38.6 billion. BHP later decided not to pursue the acquisition.

After strong economic data on Friday, the 24^th, the US markets fell as traders lowered their expectations of a rate cut this year.

Boeing shares plummeted on Friday, the 24th, as CFO Brian West foresees negative cash flow and no recovery in aircraft sales.

Reports from China claim the government will provide $48 billion in support for its semiconductor industry, causing stock in the country to rise.

The yen drops to a 16-year low against the British pound as traders bet on a robust pound as interest rates are predicted to stay high in the United Kingdom.

Nvidia keeps its climb going as Elon Musk’s xAI announces the use of Nvidia’s chips for a supercomputer.

Upcoming Events

June 3^rd: Austria (QoQ) and Poland (YoY)

June 4^th: South Africa (QoQ and YoY), Brazil (QoQ and YoY).

June 5^th: South Korea (QoQ and YoY), Australia (QoQ and YoY).

June 6^th: Ireland (QoQ and YoY)

June 7^th: RBI Interest Rate Decisions, Eurozone GDP (QoQ and YoY)

June 10^th: Japan (QoQ, YoY, and Annualised)

June 12^th: United Kingdom (MoM) and Red Interest Rate Decisions.

June 14^th: Bank of Japan Interest Rate Decisions

Dividend Payments for Major companies

June 3^rd: Toyota ($2.55), Vias ($0.52), ConocoPhillips ($0.78), and TransUnion ($0.10)

June 4^th: John & Johnson ($1.24) and Volkswagen (€9.00)

June 7^th: Amgen ($2.25) and Unilever (£0.37)

June 10^th: Chevron ($1.63), Exxon-Mobil ($0.95), and Target ($1.10)

June 12^th: S&P Global ($0.91)

June 13^th: Microsoft ($0.75) and Raytheon-Technologies ($0.63)

June 14^th: Pfizer ($0.42), Hershey ($1.37), and Realty Income ($0.26)

Earnings of major companies

June 4^th: Crowdstrike (CRWD)

June 5^th: Victoria’s Secret (VSCO)

June 6^th: Nio (NIO)

June 7^th: GameStop (GME)

June 13^th: Adobe (ADBE)

P.S.: Do not take this as financial advice; make your own decisions and do further research before investing in the markets, as your capital is at risk.