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US stocks dipped yesterday due to weak data on the US economy. Dow Jones fell 0.3%, while S&P 500 and Nasdaq slipped by 0.2% and 0.1%, respectively.
Apparently, consumer optimism and new home sales came out weaker than forecasted, but the decline is small. Meanwhile, home prices grew 13.3%, which is much better than expected.
In the case of Asian markets, another rise was observed this morning. Japan indices climbed 0.3%, while China indices gained 0.1%.
With regards to the world's epidemiological situation, total incidence jumped again to 530,000, but the rise was not from India. In fact, the country's infection rate has dropped to 209,000. Surprisingly, the increase was caused by Brazil, which recorded 74,000 cases on Tuesday. US also saw a slight jump to 23,000, while France and Germany observed a decrease to 5,000.
On a different note, EU and UK are reported to be imposing sanctions against Belarus in response to the scandalous hijacking that happened in the skies of the country. Europe cut its ties with Belarus' state airline and banned flights to and from the country. Belarus President Alexander Lukashenko promised to make statements today.
As for the oil market, another strong growth was observed yesterday, thanks to improving global demand and consumption. And today, price increased by 0.4%, reaching $ 68.90. Oil is expected to close around $67.50 - $ 70.00 later.
Conclusion: The US market is anticipating a new wave of growth.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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