Tuesday's Markets Update (May 30, 2023)

30 May 2023 by rate3

On Tuesday, the Shiller Home Index jumped to a one-year high, the Dallas Fed Index sunk, NASDAQ (o:13109, c:13017) corrected, and BTC (o:27919, c:27861) ranged.

The Dallas Fed Business Activity Index for manufacturing decreased to -29.1 in May, the lowest since Q2 of 2020. The production index turned negative, while the employment situation improved, reflecting managers' upbeat optimism. Meanwhile, the March Case-Shiller Home Price Index rose 1.5 percent MoM, the highest increase since May of 2022, with house prices increasing by 0.5%.

Other Markets Updates:

Spain: The country's consumer price inflation dropped to 3.2 percent in May (previous: 4.1, consensus: 3.5) - the lowest level since July 2021. This decline was primarily driven by a decrease in fuel and food prices.

Italy: Producer Price Inflation for April decreased to -4.80 percent from -1.50 percent in March.