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Despite the fact that most Asian markets will be closed on Monday due to the Labor Day holiday, both the Australian and Japanese markets are trading higher.

In Australia, the S&P/ASX 200

rose 0.62%, as the nation saw its plant action in April contracted at its quickest pace in 35 months, with private reviews from Juno Bank showing its buying supervisors file remaining at 48.

The Nikkei 225 was up 0.69 percent last time, while the Topix was up 0.63 percent. According to the au Jibun bank, Japan’s purchasing managers index decreased by its softest amount in six months in April to 49.5.

In contrast to economists’ expectations of 51.4, China’s official manufacturing purchasing managers index fell unexpectedly into contraction territory over the weekend, reaching 49.2.

United States

After the major averages posted gains for April and the Dow Jones Industrial Average recorded its best month since January, U.S. stock futures were flat in overnight trading on Sunday.

Prospects attached to the Dow plunged 30 focuses, while S&P 500 and Nasdaq-100 fates each crept 0.1% lower.

After a winning week and month, stocks are back up. The S&P 500 rose 0.83 percent on Friday, while the blue-chip index gained 272 points, or 0.8 percent. The Nasdaq Composite high level 0.69% as Large Tech income became the dominant focal point.

For the month, the Dow acquired 2.5% to score its best month to month stretch since January, while the benchmark file acquired 1.5%. There were only small gains for the tech-heavy index.

The narrative that earnings are doing better than anticipated, despite many widespread macroeconomic concerns, was fueled by earnings reports from major tech companies, which dominated much of the market discussion last week.

Up to this point, somewhat over portion of S&P 500 organizations have revealed profit, with over 79% and around 72% outperforming income and deals assumptions, separately. According to FactSet, earnings for the first quarter are currently on track to decrease by 3.7%, which is less than the 6.7% decline that was anticipated on March 31.


Oil prices fell on Monday as weaker Chinese manufacturing data and fears about the U.S. Federal Reserve raising interest rates erased earlier gains.

At 00:09 GMT, Brent futures for July delivery were down 55 cents, or 0.7%, to $79.78 a barrel, while WTI crude in the United States was down 54 cents, or 0.7%, to $76.23.

Although a rise in spending on services was offset by a decrease in spending on goods in March, the Federal Reserve may raise interest rates again if underlying inflation pressures continue to be strong.

Even though steady U.S. inflation strengthened bets for an interest rate hike next week, gold rebounded on Friday due to a dip in yields and renewed concerns about the banking crisis in the United States.

U.S. gold fates settled up level at 1,999.1 on Friday and 0.43% for the week. It was also the fifth positive month in a row, rising 0.65 percent.

The above analysis is only for the views of market researchers and is for reference only and is not regarded as a specific investment suggestion.

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