- Lethargic open sees Lufax dips 5.96% POSCO is having a negative session so far (down 3.05%).
- European equity markets are currently seeing a boost in risk-on sentiment.
The trading session is underway and markets are currently flat. Dow Jones goes up 0.14%, trading at 33,835. Nasdaq holds at 12,045.
European markets are showing gains. Asia-Pacific markets are dropping as KOSPI Composite Index is currently down 0.73% and trading around 2,544.4.
The one month Treasury rate fell from 3.95% to 3.4% alongside rising demand and prices. US bond yield gyrations reflect investor sentiment regarding the US economy, with lower yields suggesting investors remain confident about lending to the US government.
3Rd quarter earnings season is mostly over, with Bank OZK & Procter & Gamble releasing their earnings reports just this week.
Ambiguous macro data is influencing the market as United States Services PMI released today at 13:45 UTC with a figure of 53.7, while the previous figure was 52.6. United States Existing Home Sales (Mar) came out at 4.44 million, while a consensus of analysts was expecting 4.5 million. United States Philadelphia Fed Manufacturing Index (Apr) came out at -31.3, while a consensus of analysts was expecting -19.2.
Despite lacklustre price action, some assets are lagging behind their peers as Lufax is currently trading at $1.81 after declining 5.96%. POSCO is having a negative session so far (down 3.05%).
Lufax | -5.96% to start today's session
While on an 8 day slump, falling a total of 12.32%, More of the same today: the Chinese personal financial services platform drops 5.96% in early trade and remains within touching distance of the $1.81 level.
POSCO | -3.05% to start today's session
While on a 4 day downtrend, dropping a total of 6.4%, More of the same today: the steelmaker is trading close to the ₩74.64 level today, after ending yesterday at ₩77 and dropping 3.05%.