Market Roundup 11 May 2022

1) Thai stock market overview

Thailand’s SET Index closed at 1,613.34 points, decreased 9.44 points or 0.58% with a trading value of 71 billion baht. The analyst stated that the Thai stock market edged lower after a surge yesterday as investors chose to lower the risk before the announcement of U.S. inflation data, which will be released tonight. The market expected headline inflation at 8.1% and core inflation at 6%. Lower-than-expected readings should be a positive sentiment to the market. 

In addition, the analyst gave a support level for tomorrow’s session at 1,600 points and a resistance level at 1,635 points.


2) ECB to outline rate hike plans in June

The European Central Bank would eventually raise interest rates from lows in July but could outline its rates expectations for the coming months at its June 9 meeting as the Euro Zone inflation is at a record high at 7.5%, which is four times higher than the target. 


3) European stocks and stock futures in Wall Street gain prior to US inflation data

European stocks and stock futures in the U.S. edged higher prior to the U.S. inflation data for April. 

DAX rose 0.88%, FTSE gained 1.03%, CAC increased 1.91%, STOXX600 edged 1.03% higher.

Meanwhile, Dow Jones Futures rose 0.84%, S&P 500 Futures gained 1.17% and Nasdaq Futures increased 1.50%.

Economists are expecting U.S. inflation data for April to come in at 8.1%, which is a drop from 8.5% in March, but still at a 40-year high.