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<blockquote>Only a few days before the Fed unveils its monetary policy rate decisions, the pressure is on after the Australian central bank unexpectedly tightened its monetary policy, concerned about persistent inflation. Meanwhile, the Nasdaq is holding up well, China is speculating on a hypothetical support plan, and Apple is presenting a new $3,500 toy.</blockquote><img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/93bc9063289f43f5b580ac8534cd2e84.jpeg" />Usually, June is a month when things calm down in financial markets. After all, earnings season is now out of the way. Even statistically, June is boring. It&#39;s pretty good. The average gain on the S&amp;P500 since 1928 is 0.7%, the sixth-best statistical month, on a par with August. Right in the middle. June has seen 54 rises and 41 falls over the last 95 years (data courtesy of Edward Yardeni). This year, the month started a rocky start until yesterday&#39;s more mixed session. Indices took a breather, except for the Nasdaq 100, which held on to slight gains. The Dow Jones lost -0.6%, and the S&amp;P500 -0.2%.Investors need more clarity. Artificial Intelligence continues to support the tech sector, but what Jerome Powell will do remains a mystery. Investors are nervous nine days before the Fed&#39;s next monetary policy decision. Confidence that we&#39;re nearing the end of the monetary tightening cycle is waning, even if the probability of a pause on June 15 remains dominant. This morning&#39;s unexpected monetary tightening by the Bank of Australia dampened the mood a little, and all the main three Wall Street indexes opened in the red today. Economists were expecting the RBA to leave its key rate at 3.85%. It raised it to 4.10%, pointing out that while inflation has passed its peak, it remains too high (at 7%) and will take time to subside. This situation is similar to that feared by the Fed: sticky inflation. Western central banks seem ready to return to the dogma of inflation close to 2%, but this requires price rises to return to more reasonable levels. The RBA has warned that further rate hikes may be necessary. And Christine Lagarde&#39;s speech yesterday confirms it. The ECB boss needs to find out whether core inflation has already peaked. Neither do we.In other news, the SEC is turning up the heat on cryptocurrency trading giant Binance and its CEO Changpeng Zhao, who is suspected of multiple financial manipulations. In China, speculation has again taken hold of property developers as rumors circulate of support measures for the sector. As I wrote yesterday, the rumor of a support plan from Beijing comes back every time the Chinese economy needs a boost.On a completely different note, Apple has launched the world&#39;s most expensive scuba diving mask, an augmented reality headset that will go on sale in 2024. A real gamble for the group, in search of breakthrough innovations after the 15-year-old iPhone revolution.Meanwhile, speculation about JPMorgan Chase boss Jamie Dimon&#39;s candidacy for the U.S. presidential election is gaining momentum. The bank has denied the rumors, but Bloomberg revealed that Dimon is scheduled to meet with Democratic politicians today to discuss the economy and banking, which has boosted the rumor mill. With Joe Biden showing signs of aging, Democrats may be tempted to seek a consensual alternative for the duel at the end of 2024.<h3 id="economic-highlights-of-the-day">Economic highlights of the day:</h3>German factory orders and European retail sales are on the agenda.The dollar is up 0.3% against the euro to EUR 0.9365 and up 0.2% against the pound to GBP 0.8063. The ounce flirts with USD 1963. Oil is stable, with North Sea Brent at USD 75.44 a barrel and U.S. Light WTI at 70.79. The yield on 10-year U.S. debt remains at 3.70%. Bitcoin retreats to USD 25,500.<h3 id="in-corporate-news">In corporate news:</h3><ul><li>Apple was down 0.5% in pre-market trading, with D.A. Davidson lowering its recommendation to &#34;neutral&#34; from &#34;buy&#34; the day after the opening of the brand&#39;s Worldwide Developers Conference, during which the Californian group presented a new mixed reality headset priced at $3,499, entering a market dominated by Meta.</li><li>Exxon Mobil and Chevron each lost around 1% in pre-market trading due to a sharp fall in oil prices following Saudi Arabia&#39;s announcement of a further production cut in July.</li><li>On Tuesday, Emirates Chairman Tim Clark said the airline could place a new order with Airbus and Boeing for A350s, B777Xs, and possibly B787s. He declined to specify the number of long-haul aircraft involved.</li><li>Ford Motor will recall more than 125,000 SUVs and trucks in the United States because of a fire hazard in the engine compartment, the NHTSA, the U.S. road safety authority, announced on Tuesday. The share price was down 1% in pre-market trading.</li><li>Mobileye Global lost 4% in after-hours trading following Intel&#39;s decision to sell 35 million shares in the autonomous driving group.</li><li>G.E. Healthcare Technologies was down 3% in after-hours trading after its parent company General Electric decided to sell 25 million shares.</li><li>Novavax gained 1.2% in pre-market trading as an executive said that new doses of its Covid-19 vaccine would likely offer protection against the variants currently circulating in the U.S.</li></ul>

The Wall Street Market | Will Australia's decision to hike rates make the Fed follow?

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