The US stock market and Russian oil export register impressive gain

In the middle of June 2022, The S&P 500 registered growth of 1.5% or 54.51 points. The Dow Jones Industrial Average managed to add 1% or 303.70 points. It touched the figure of 30668.53. Similarly, the Nasdaq Composite made a gain of 2.5% or 270.81 points, it managed to climb to the figure of 11099.15. There are many factors that affect the market sentiments. The Fed is also taking necessary steps. Through a tighter monetary policy, it is trying to quell inflation. The investors also take care of the interest-rate decisions. The markets also watch the decisions regarding the interest rates. Even a minor uncertainty in monetary policy gives birth to the volatility. However, most of the stocks managed to rise. 10 out of the S & P 500’s 11 sectors registered some gain.

Technology stocks were among the biggest gainers. It was interesting to note that Nvidia, Amazon, Microsoft, Netflix managed to add by more than 3%. Some economically sensitive areas also managed to climb. The bank stocks also managed to attain the momentum. When the investors notice a possibility of slowdown, they adjust their moves. However, bank stocks climbed, the KBW Nasdaq Bank Index rose by 1.6%. The energy stocks were the best performing player of the best-performing S&P 500 sector for most of the year.

The condition of the European stocks

After the ECB called for a meeting to discuss the turbulence of the bond market, European stocks registered a jump. The ECB also created a plan to purchase more bonds. The smart and wise investors proceed when they notice complete stability. They ensure that the financial conditions do not deteriorate. The meeting also indicated that the ECB was ready to cushion the markets much earlier than the expectations of the investors. The Stoxx Europe 600 managed to register a gain of 1.4%. It was led by shares of insurers and banks. The best performers were Intesa Sanpaolo and UniCredit. The gold was standing at $1,843.33 an ounce after rising by about 0.2%.

Russia continues to expand its oil supply

The officials of the OPEC+ have already announced that they have very little extra capacity to add. There are other factors helping the growth of fuel prices. After the Russian invasion of Ukraine, several countries around the world have slapped Russia with sanctions. This step has seriously disrupted the availability of fuel and crude. As the consumption of the refined products is outpacing the production, the inventories are depleting at faster speed. Such factors affect the price of the fuel as well.

After several sanctions were slapped by European nations, Russia has expanded its oil supplies by turning to countries like China. Russia even managed to displace Saudi Arabia as the top fuel supplier to China. Currently, China is the world’s largest crude oil importer. Several Chinese firms have ramped up purchases of Russian oil. It was after a gap of 19 months that Russia claimed back its position in the top ranking. According to the latest reports, China also imported 260,000 tonnes of crude oil from Iran.

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