Global Market Trend As Of May 30th, 2022

U.S. Markets, U.S. bourses were relatively higher on Friday due to set of earnings from retailers that send shares higher. The major futures indexes suggest a gain of 0.2% when the final trading day of the week gets underway on Wall Street.

Wall Street ended broadly higher after seven straight weeks of declines, the longest such stretch since 2001.

The S&P 500 rose 79.11 points, or 2%, to 4,057.84. The Dow added 516.91 points, or 1.6%, to 32,637.19, and the Nasdaq rose 305.91 points, or 2.7%, to 11,740.65. 

Treasury Bills, the yield on the 10-year Treasury was at 2.74% Friday morning.

Retailers led the broader market higher Thursday. Macy's surged 19.3% after it raised its profit forecast for the year following a strong first-quarter financial report. Dollar General vaulted 13.7% and Dollar Tree jumped 21.9% for the biggest gain in the S&P 500 after the discount retailers reported solid earnings and gave investors encouraging forecasts.

Shares of Costco Wholesale traded nearly 2% lower in premarket trading. Profit and revenue topped expectations. Same-store sales grew by double-digits, but fell short of expectations. 

Shares of Dell Technologies gained 7% in after-hours trading. Profit and revenue topped expectations on strong demand for enterprise computing hardware and business PC sales. The company also raised its full-year guidance. 

Commodities, Oil is trading near a two-month high amid global supply concerns. U.S. West Texas Intermediate (WTI) crude futures traded around $114 a barrel. WTI is set for a weekly gain of about 0.7%. Brent futures were around $117 a barrel. That benchmark was on track for a gain of about 4% this week.


SPOT MARKET  BY THE HOUR AS OF GMT 09:30  05-30-22

Bitcoin traded around $29,000.