Trading Market Commentary June 9, 2017

Commentary

American markets traded nicely immediately after Dodd-Frank successfully pass in the House of Representatives on Friday (waiting for deliberating in Senate) which resulted in rallies for Financials stocks.

Right after hitting record intraday high levels at the beginning of the trading session, equities retreated throughout the course of the trading day on Friday. The NASDAQ retracted sharply into minus terrain. However, the DowJones was able to close in plus zone. 

The DowJones rose 89.44 points (0.4%) to 21,271.97, the NASDAQ dove 113.85 points, 1.8%) to 6,207.92 and the S&P500 surrounded 2.02 points (0.1%) to 2,431.77.

The key indexes furthermore completed a mixed overall performance for this week. The NASDAQ declined by (1.6%), the S&P500 dropped by (0.3%), and the DowJones went up by (0.3%).

On Asian trading markets, the region submitted yet one more mixed results on Friday. With Nikkei225 Index rising by (0.5%), whereas HK's Hang Seng Index surrounded  0.1%.

Robust results in the early trading hours about key Euro stock market, following on from the surprising outcome emanating from the British elections.

The main Euro stock markets virtually all moved to the upside in the later part of the day. The FTSE100 Index leaped by 1%; the DAX30 Index finished up 0.8% and also the CAC40 Index progressed by 0.7%.

What's up next week

The Federal Reserve monetary policy call may very well be the center of attention next week. The central bank is broadly anticipated to declare a quarter-point rate increase this coming Wednesday.

BTW, Chicago Mercantile Group's  FedWatch Tool suggests a 99.6% possibility that the Federal Reserve is going to increase interest rates by a quarter point.

With all the Federal Reserve largely expected to boost rate, traders/investors are going to give out most attention to the detailed statement about signs regarding potential future rate hikes.

Traders and investors will also be provided several critical economic data, among them, reports for industrial production, housing starts, producer/consumer price inflation, and also retail sales. 

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