{"id":4196,"date":"2021-05-14T12:19:26","date_gmt":"2021-05-14T12:19:26","guid":{"rendered":"https:\/\/blog.sevenstarfx.com\/?p=4196"},"modified":"2021-05-14T12:20:08","modified_gmt":"2021-05-14T12:20:08","slug":"daily-market-outlook-14-may-2021","status":"publish","type":"post","link":"https:\/\/www.sevenstarfx.com\/blog\/daily-market-outlook-14-may-2021\/","title":{"rendered":"Daily Market Outlook, 14 May, 2021"},"content":{"rendered":"<h3><span style=\"color: #cf2e2e\"><strong>Market Wrap: Stocks, Bonds, Commodities<\/strong><\/span><\/h3>\n<p>Wall Street ended sharply higher at the close of a broad rally on Thursday, bouncing back from three straight days of selling on upbeat labor market data.<\/p>\n<p>Binance Holdings Ltd. is under investigation by the Justice Department and Internal Revenue Service, ensnaring the world\u2019s biggest cryptocurrency exchange in U.S. efforts to root out an illicit activity that\u2019s thrived in the red-hot but mostly unregulated market.<\/p>\n<p>The Dow Jones Industrial Average rose 433.79 points (1.29%) to 34,021.45, the S&amp;P 500 gained 49.46 points (1.22%) to 4,112.5 and the Nasdaq Composite added 93.31 points (0.72%) to 13,124.99.<\/p>\n<p>Japanese shares led a rebound in Asian markets on Friday, building on the lead from investors on Wall Street snapping up stocks that would benefit most from an economic revival.<\/p>\n<p>MSCI\u2019s index of Asia-Pacific stocks outside Japan advance 0.80% to 844.00 levels. Australian index rose 0.45% to 7,014.20. Japanese Nikkei traded 2.32% higher to 28,084.47.<\/p>\n<p>European stocks were advance on Friday, with the Stoxx Europe 50 Index gained 0.37% to 3,967.15, Germany&#8217;s DAX rose 0.22% to 15,241.00 and France&#8217;s CAC higher 0.40% to 6,314.26 and U.K.&#8217;s FTSE 100 advance 0.71% to 7,012.35.<\/p>\n<p>Benchmark 10-year U.S. Treasury rose as demand for safe assets grows again, today 10-year bond yields lost 1.25% to 1.647.<\/p>\n<p>Oil was down Friday morning in Asia, continuing Thursday\u2019s 3% drop, as the number of COVID-19 cases in India remains near record highs and fuel demand worries continue. Meanwhile, a key network in the U.S. resumed operations after an almost weeklong closure<\/p>\n<p>Spot Brent crude oil declined 0.36% to $66.81 per barrel. US West Texas Intermediate crude lower 0.16% to $63.70 a barrel.<\/p>\n<p>The yellow metal traded higher 0.47% to 1832.20dollars per ounce.<\/p>\n<h3><span style=\"color: #cf2e2e\"><strong>Market Wrap: Forex<\/strong><\/span><\/h3>\n<p>The dollar held on to its gains in early European trading on Thursday, having strengthened in the previous session after a surprisingly large rise in U.S. consumer prices fanned inflation fears.<\/p>\n<p>Today, the U.S. dollar index, which measures the greenback against a trade-weighted basket of six major currencies, fell 0.26% to 90.502.<\/p>\n<p>The Euro US Dollar (EUR\/USD) is a widely traded pair that jumped 0.31% today. This left the pairing trading around $1.21130.<\/p>\n<p>The Japanese yen fell against the U.S. dollar on Friday as the stock pushes lower. Today US\/JPY down 0.10% to 109.340 level.<\/p>\n<p>Another commodity-related currency higher against the U.S dollar, AUD\/USD rose 0.05% to 0.77310 and NZD\/USD gained 0.22% to 0.71840.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Market Wrap: Stocks, Bonds, Commodities Wall Street ended sharply higher at the close of a broad rally on Thursday, bouncing back from three straight days of selling on upbeat labor&hellip; <\/p>\n","protected":false},"author":2,"featured_media":4198,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[4],"tags":[123,17,111,10,28,41,35,53,33,122,72,50,31,101],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.12 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Daily Market Outlook, 14 May, 2021 | Seven Star FX<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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