The stock market began to recover after the US Federal Reserve officials said that the rise in inflation is temporary

The US stock market closed with growth on Thursday. S&P 500 index rose by 1.22%, Dow Jones added 1.29%. The trigger for the growth was the statement of the US Fed that no changes in the monetary policy will be held in the near future, and the inflation growth is only a temporary effect caused by the pandemic impact. On the back of this statement, the financial, industrial, and utilities sectors showed a good rebound.

On Thursday, the Europe indices showed multidirectional dynamics. The British FTSE 100 decreased by 0.59%, the Spanish IBEX 35 lost 0.46%. At the same time, German DAX rose by 0.33% and French CAC 40 increased by 0.14%. In the near future, Europe will begin to reduce quarantine restrictions, this will lead to an improvement in the economic climate.

The price of "black gold" fell sharply on Thursday. On Friday morning at the Asian session, the oil price continued to fall. As a result, oil has already corrected by 3%. The reason for the decrease is triggered by investors' concerns about the fuel demand, as the number of COVID-19 cases in India remains at a record high level. However, the price of natural gas continues to rise.

Following yesterday's results, gold rose slightly and accelerated gains this morning in the Asian session. On COMEX, a division of the New York Mercantile Exchange, gold futures for June delivery are trading at $1,832 per troy ounce. The rise in gold prices is triggered by the fall of the US Treasury bond yields.

The rise in the U.S. market also gave a push-start to the Asian market. Tokyo's Nikkei index jumped by 2.2% and the broadest index of Asia-Pacific stocks outside Japan, MSCI, increased by 0.8%.

Main market quotes:

S&P 500 (F) 4,112.50 -49.46 (+1.22%)

Dow Jones 34,021.45 +433.79 (+1.29%)

DAX 15,199.68 +49.46 (+0.33%)

FTSE 100 6,963.33 -41.30 (-0.59%)

USD Index 90.72 +0.01 (+0.01%)

• – New Zealand Business Manufacturing Index (m/m) at 01:30 (GMT+3);
• – US Retail Sales (m/m) at 15:30 (GMT+3);
• – US Core Retail Sales (m/m) at 15:30 (GMT+3);
• – US Industrial Production (m/m) at 16:15 (GMT+3);
• – US UoM Consumer Sentiment at 17:00 (GMT+3).

by JustMarkets, 2021.05.14

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.