The world can be an interesting place at times and movements in share markets quite confusing.
European markets were all down overnight because of Middle East tensions.
The FTSE fell 16 points (.17%), the DAX fell 81 points (.35%) and the CAC fell 52 points (.69%).
In the US, the DOW rose 374 points (.89%), the NBI fell 20 points (.48%), the NADAQ Composite rose 183 points (.94%) and the Russell small cap index rose 23 points (1.11%).
The positive sentiment came after Iran's constrained response to US military action.
Oil prices plunged after Iran launched a missile attack on an empty US base in Qatar. It gave advanced warning to the US. The action is seen as a face-saving exercise for Iran. Markets responded well to the fact that the Strait of Hormuz was not closed. Iran stated that it fired the same number of missiles as the US had fired on Iran. Trump thanked Iran for giving advanced warning. All very cordial really.
US Fed gave another indication that there would be an interest rate cut in July.
Of interest is that the oil price and stock markets are feeding on each other - lower oil prices are stimulating stock markets.
US Treasury 10 year bond yield is down to 4.341%
Gold prices fell heavily - Brent crude is at US$69.26 per barrel.
Gold price is up to US$3,374 per oz.
BITCOIN remained largely unchanged at US$103,568.
IMU Price at posting:
1.3¢ Sentiment: Buy Disclosure: Held
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