📆 Wednesday, June 19
► European stocks posted small moves as traders sought fresh catalysts following the tech-driven rally lead by (again) Nvidia in the US. The Stoxx 600 dipped slightly by 0.2%. The GBP reversed its modest losses after UK inflation fell to the Bank of England’s target for the first time in nearly three years. The UK’s inflation rate hitting 2% brought stability, with the Bank of England expected to hold rates steady at 5.25% in its upcoming decision on June 20 and cut for the first time in August.
► US markets are closed today for Juneteenth, leading to expected thin trading volumes globally. On Tuesday, all three major US indexes ended slightly higher (S&P 500 +0.25% / Nasdaq 100 +0.05%), driven by a strong rally in Nvidia, making it the world’s most valuable company. Mixed economic data showed an increase in industrial production while retail sales barely rose and previous months were revised lower. Traders pushed the S&P 500 near 5,500 in yesterday's session (in off-market trading it rose above 5500 today), betting on potential Federal Reserve rate cuts.
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