Global stocks and crude oil futures trade higher on Monday while the upside momentum is limited as investors remain concerned about rising inflation globally and tensions in Ukraine. This week, the main event on the calendar for monetary policy is the June European Central Bank rate decision and the RBA decision.
Shares of the online pet supplier Chewy (NYSE: CHWY) jumped more than 20% in the extended trading session on Wednesday after the company reported stronger-than-expected Q1 financial results.
Crude oil prices jumped to a nearly 3-month high to end the month after the European Union leaders reached on Monday to ban 90% of Russian crude by the end of 2022.
Asian and European stock markets started the new week on a positive tone after Shanghai aims to essentially end its lockdown from Wednesday. Meanwhile, the trading was subdued on Monday as US stock and bond markets is closed due to the Memorial Day holiday.
Global equities and commodities started the new week slightly higher on Monday as investors took a breather following the previous week's sell-off. This week is expected to be a busy one, with the main focus on the FOMC minutes on Wednesday.