Market Update: U.S. Economy's Resilience Lifts Stocks Slightly Higher

27 June 2023 27.06.2023
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2 min.
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Market Update: U.S. Economy's Resilience Lifts Stocks Slightly Higher

Market highlights

It start with a brief overview of the market conditions, mentioning the slight gains in September E-Mini S&P 500 futures (ESU23) and Sep Nasdaq 100 E-Mini futures (NQU23) this morning.

U.S. Durable Goods Orders Report:

Highlight: Stocks are higher, indicating resilience in the U.S. economy, following the release of the May U.S. durable goods orders report.

Key Data Points: Mention the positive growth of +1.7% m/m in the May U.S. durable goods orders, exceeding expectations of -0.9%. Also, note the rise of +0.7% m/m in capital goods orders ex-defense and ex-aircraft, beating expectations of +0.1% m/m.

Upcoming U.S. Economic Reports:

  • April S&P CoreLogic home prices: +0.4% m/m, -2.4% y/y
  • May new home sales: -1.2% to 675,000
  • June U.S. consumer confidence index: +1.7 to 104.0
  • June Richmond Fed index: +3 to -12
  • June Dallas Fed services activity index: TBA

Market Indicators:

  • 10-year T-note yield: up +0.4 bp at 3.725%
  • FOMC Expectations: Mention the anticipation of a +25 bp rate hike at the next FOMC meeting on July 25-26, along with the market's full expectation of a +25 bp rate hike by November.

Overseas Stock Markets

  • Euro Stoxx 50: up +0.04%
  • China's Shanghai Composite index: closed +1.23% with government support
  • Japan's Nikkei Stock Index: closed down -0.49% for the fourth consecutive session of losses.

Pre-Market Stock Movers

Notable Stocks: Highlight significant pre-market stock movements, including:

Today's U.S. Earnings Reports (6/27/2023):

Section

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