📆 Wednesday, June 4
► European markets higher on tax relief optimism & global tech strength
European shares extended gains, supported by fiscal optimism and strong global tech momentum. The Stoxx 600 rose 0.3%, with France’s CAC 40 climbing 0.5% and Germany’s DAX up 0.35%, after Berlin announced a proposed €46B corporate tax cut package. Risk appetite improved across sectors, though geopolitical risks lingered. Apple’s underperformance weighed modestly, but Nvidia’s rally helped lift broader sentiment. Eurozone bond yields rose slightly in line with global risk-on tone. Bulgaria has been given sign-off to join the Eurozone, meaning the bloc could soon grow from 20 to 21 members.
► US futures remains robust despite mixed labor market holds firm & tech extended gains
US equity futures kept gains from the previous session, with the S&P 500, Nasdaq 100, and Dow Jones trading near flat. Wednesday data showed hiring decelerated to the slowest pace in two years, according to ADP Research – which shows the increasingly worsening fundamentals we expected. Nvidia extended gains after a strong session yesterday, reclaiming its position as the world’s most valuable listed company. Other megacaps, including Alphabet, Meta, and Broadcom, also moved higher in pre-market. Volatility expectations reached a multi-month low as investors now look toward Friday’s NFP report. However, SmartTrader chief analyst Robert Lindner says more positive news is needed to maintain the positive momentum.
► Asian equities rise, led by South Korea & Japan
Asia-Pacific markets posted strong gains. South Korea’s KOSPI jumped 2.66% after opposition leader Lee Jae-myung won the presidency, bolstering investor optimism. Japan’s Nikkei rose 0.8%, with AI-linked stocks tracking US momentum. Hong Kong’s Hang Seng gained 0.6%, while mainland China’s CSI 300 rose 0.43%, brushing off critical comments from Trump. Australia’s ASX 200 added 0.89%, and India’s Nifty 50 ticked higher, aided by renewed risk appetite.
Subscribe to see more
