06/03/2023
Today’s Announcements & News
Asia
Asia-Pacific shares rose on Monday as investors continued to digest growth targets set by China at a parliamentary meeting and looked ahead to economic data in the week ahead.
In Australia, the S&P/ASX 200
It rose 0.65 percent ahead of the Reserve Bank of Australia’s decision on Tuesday, with economists polled by Reuters expecting a 25 basis point hike in rates.
Nike 225 rose 0.1 percent in its first day of trading, with the Topix gaining 0.7 percent. In South Korea, the Kospi rose 0.4% and the Kosdaq rose 0.6% as the country’s inflation slowed further in February.
Hang Seng Index Futures open higher was also hinted at as investors further digested key targets released in the government work report released by Chinese Premier Li Keqiang on Sunday.
United States
U.S. stock futures were little changed late Sunday as Wall Street faced a week of economic data and the latest Fed commentary.
Dow Jones Industrial Average futures were down 36 points, or 0.11%. S&P 500 and Nasdaq 100 futures were down 0.11% and 0.15%, respectively.
Traders were upbeat on the major averages. The Dow rose 1.75% last week, ending a 4-week losing streak. The S&P 500 gained 1.90%, while the Nasdaq gained 2.58% for the week.
Those gains came even as the yield on the benchmark 10-year U.S. Treasury note rose above the psychological 4% level at various points last week. Higher 10-year Treasury yields increase borrowing costs for consumers and could signal lower investor confidence.
Commodities
Gold climbed to a near two-week high on Friday and was on track for its biggest weekly gain since mid-January on a weaker dollar as investors assessed the Federal Reserve’s policy stance.
Spot gold rose 0.6% to $1,847.25 an ounce, its highest since Feb. 20. Prices are up about 2% so far this week. U.S. gold futures rose 0.7% to $1,853.50.
The U.S. dollar index has fallen on a weekly basis, making dollar bullion prices more attractive to overseas buyers.
Ole Hansen, head of commodity strategy at Saxo Bank, said gold has found good support around $1,800, and if it breaks through $1,865, there will be fresh demand.
The above analysis is only for the views of market researchers and is for reference only and is not regarded as a specific investment suggestion.
