STARTRADER Monday’s Market Update 19-06-2023

The Standard & Poor’s 500 index closed lower on Friday, with Microsoft stock declining, as statements from two Federal Reserve officials dampened optimism about the central bank’s nearing the end of its aggressive campaign to raise interest rates.

After the Federal Reserve indicated last Wednesday that interest rates may still need to rise by up to half a percentage point by the end of the year, traders expect a 25-basis-point interest rate hike in July.

The pricing of shares of 24 Chinese companies listed on the Hong Kong Stock Exchange in the Chinese yuan begins today, Monday, June 19, giving the Chinese currency an additional boost in the global financial world.