European markets wre mixed overnight. Not a lot of movement though.
The FTSE rose 10 points (.12%), the DAX fell 51 points (.21%) and the CAC fell 14 points (.19%).
US markets continue to advance.
The DOW rose 35 points (.084%), the NBI rose 66 points (1.62%), the NASDAQ Composite rose 128 points (.67%) and the Russell small cap index rose 3 points (.19%).
Trump doubled tariffs on steel and aluminium imports to 50%.
OPEC announced a sharp increase in oil production.
Some worrying issues that may see a reverse in share markets in the near future.
Price of steel in the US rose 16% in May.
Imports into the US were down 20% in May - (bear in mind that imports rose 59% in April as importers tried to beat the tariffs). US imports are down to GFC levels (2008).
China and the US are trading accusations that the other is trying to undermine the recent trade agreement - 90 day pause with tariff reductions.
US manufacturing contracted in May.
A few issues that may impact share markets are afoot. Gold price seems to be an accurate measure of market stress recently.
US Treasury 10 year bond yield is up to 4.441%
Oil prices rose - Brent crude at US$65.07 pe barrel.
Precious metal prices rose strongly - gold is at US$3,382 per oz.
BITCOIN was up slightly to US$107,777.
IMU Price at posting:
1.5¢ Sentiment: Buy Disclosure: Held
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