Friday, June 16 (morning) market trends (in comparison to the previous day).

traditional finance

• NY Dow: $34,408 +1.2%
• Nasdaq: $13,782 +1.1%
• Nikkei Average: ¥33,485 -0.05%
• USD/JPY: 140.2 +0.02%
• US Dollar Index: -0.7%
• Annual US 10-year Treasury yield: -3.72%
• Futures for Gold: $1,970 +0.08%

digital assets

• Bitcoin: $26,670 (+2.4%)
• Ethereum: $1,673 +1.5%
• NY Dow Nasdaq today

Today’s NY Dow sharply rebounded to +428 dollars. The Nasdaq also closed higher at +156 dollars. Optimism is spreading as yesterday’s FOMC meeting has been digested and the interest rate hike cycle is nearing its end.

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The FOMC policy announced on the 15th temporarily suspended further rate hikes, but there is a possibility of two more rate hikes by the end of the year. Markets seem to favor an additional 0.25% rate hike at the FOMC meeting in July, but the timing of the second rate hike is unknown. Fed Chairman Jerome Powell hinted at a cautious approach to the pace of future rate hikes at his press conference yesterday, raising the possibility of further intermittent and small rate hikes based on future economic data.

What is the US monetary policy meeting "FOMC" that attracts the attention of international investors?

US retail sales exceeding expectations

Last night, it was reported that US retail sales increased 0.3% month-over-month in May, which was less than the previous month's 0.4% increase but well above market expectations of a 0.2% decline. Consumer demand is solidifying.

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Specifically, sales increased in 10 of 13 categories, with an apparent impact from increased spending on automobiles.

In addition, core sales (excluding restaurants and car dealerships, construction material stores, and petrol stations), which are used to calculate gross domestic product (GDP), increased by 0.2%, a slower increase than the 0.6% increase in the previous month. On the other hand, retail sales statistics contain only one service sector category and are unadjusted for inflation, so it is difficult to accurately reflect the overall consumption environment.

Initial claims for unemployment benefits in the United States also increased.

The number of initial unemployment claims in the United States for the week ending June 10 (seasonally adjusted) increased to 262,000 last night, exceeding expectations of 249,000. Last week it was 261,000. According to Reuters, the decline in unemployment claims was attributable to "the availability of unemployment benefits for some Minnesota teachers during the summer vacation." Despite these effects, redundancies continue to rise, and the previously tense situation appears to be easing.

Bitcoin support line interrupted at $24,000 after the FOMC Market sentiment to a level of dread

dollar yen

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The dollar/yen exchange rate is approximately 140 yen per dollar. The Bank of Japan is likely to maintain its current monetary easing policy predicated on the Yield Curve Control (YCC) policy in its upcoming monetary policy announcement on the 16th, and the yen is anticipated to continue depreciating.

economic indicators

• Friday, June 16: Bank of Japan Monetary Policy Meeting Interest rate policy announcement
• June 16 (Friday) at 23:00: June Preliminary University of Michigan Consumer Confidence Index
• Wednesday, June 21 at 23:00: Chairman Powell's comments
• Thursday, June 22, 21:00: The previous week's unemployment claims for the United States.
• Chairman Powell's remarks are scheduled for Thursday, June 22 at 23:00.

US markets rise

US markets increase
Expectations of a soft landing following the FOMC meeting appear to have supported the stock market. The SP 500 index extended its six-day gain, and the Nasdaq 100 index attained its highest level since March of last year. Alternately, there are concerns that certain equities may have been excessive.

Nvidia -0.8%, c3.ai +8.2%, AMD -2.4%, Tesla -0.3%, Microsoft +3.1% (six consecutive days), Alphabet +1.1%, Amazon +0.5%, Apple + 1.1%, meta +3.1%.

Top 3 ETFs (listed investment trusts) in Japan and internationally that can be purchased with NISA

Unchanged: Cryptocurrency-related securities

• | $54.2 (up 0.6%/plus 1.8%) on Coinbase
• MicroStrategy | $277.9 (-1.7/-1.6) dollars
• Marathon Digital | $9.3 (-3.4%/-0.2%)

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a ranking of investment trusts eligible for selection under the "Tsumitate NISA" tax incentive program.