US markets closed down for second day in a row

The US markets closed again in negative territory, but the losses are not big for now, the Nasdaq index closed up. The Beige Book shows that the business activity has risen in all 12 territories. Markets continue to expect higher interest rates in June, but inflation and consumption data are lower than expected.

77% of Corporate Financial Reports of companies that have already come up with their final figures are better than analysts' forecasts and even better with sales.

The markets are likely to remain unclear due to the risks in Europe with the upcoming elections in France on Sunday. Markets give them significant value and await the outcome of the first round.

DJIA: -118.79 points / -0.58%; 20,404.49

S & P: -4.02 points / -0.17%; 2,338.17

Nasdaq: 13.56 / 0.23; 5,863.03

The energy sector recorded the largest drop of -1.42%, due to the drop in oil prices to $ 50.50 a barrel. The health sector is the best in the S & P index. Probably the financial and the energy sector will continue to pull the index in a negative direction.

The US dollar rose slightly, but only against AUD and NZD. The euro remains well supported for now, probably because of the geopolitical situation. The yen is also strong enough for all currencies except for pounds, but this GBP growth may be shor termed. Gold and silver made a slight decline.

Trader Senan Fuchedzhiev

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