Pakistan Prime Minister Shehbaz Sharif stated on June 12 that Iran and the United States have reached agreement on the final text of a peace agreement, and Pakistan is currently working closely with b
Pakistan Prime Minister Shehbaz Sharif stated on June 12 that Iran and the United States have reached agreement on the final text of a peace agreement, and Pakistan is currently working closely with both sides to finalize the subsequent steps. However, on the same day, Israeli Defense Minister Katz issued a statement.
I. Global Stock Market Performance
US Stocks (June 12 Close)
Dow Jones Industrial Average: 51,202.26, +0.70%
S&P 500 Index: 7,431.46, +0.50%
NASDAQ Composite Index: 25,888.84, +0.31%
European Stocks (June 12 Close)
Germany DAX30: 24,635.30, +1.76%
France CAC40: 8,350.87, +1.83%
UK FTSE 100: 10,471.72, +1.63%
EURO STOXX 50: 6,187.63, +2.16%
Asia-Pacific Stocks (June 12 Close)
Shanghai Composite: 4,031.51, +1.12%
Shenzhen Component: 14,963.41, +0.75%
ChiNext Index: 3,830.35, +0.50%
Hang Seng Index: 24,718.10, +1.93%
Hang Seng China Enterprises Index: 8,374.43, +1.91%
Hang Seng Tech Index: 4,705.20, +1.06%
Nikkei 225: 66,020.04, +2.81%
Korea KOSPI: 8,123.62, +4.63%
II. Commodity Markets
Precious Metals
Spot Gold: $4,218.91/oz, +0.19%
COMEX Gold: $4,239.50/oz, +0.25%
Energy
WTI Crude: $68.42/barrel, -3.87%
Brent Crude: $71.15/barrel, -3.64%
III. Key Macro Developments
The People's Bank of China (PBOC) released May financial statistics: M2 grew 8.6% YoY, flat from April; M1 rose 5.5%, up 0.5 percentage points; new RMB loans at 520 billion yuan, down 100 billion yuan YoY; new social financing at 2 trillion yuan, down 260.7 billion yuan YoY. The PBOC also announced a 600 billion yuan outright reverse repo operation on June 15.
The US and Iran reached agreement on the final text of a peace deal, with Pakistan mediating. Israel Defense Minister Katz stated the IDF would continue military operations regardless.
The ECB raised interest rates by 25 basis points, the first hike since September 2023, citing inflationary pressures from the Strait of Hormuz disruption and surging oil prices.
US consumer confidence rebounded from historic lows in early June, with the University of Michigan preliminary index rising to 48.9, up 9% from the prior month.