07/03/2023
Today’s Announcements & News
Asia
Asia Pacific shares were mixed on Tuesday as investors awaited the Reserve Bank of Australia’s interest rate decision and a slew of economic data from the region.
In Australia, the S&P/ASX 200 fell 0.11%. The Reserve Bank of Australia is expected to raise the overnight rate by 25 basis points to 3.6%, which would be the highest rate since June 2012. The country recorded a small trade surplus in January, according to official data.
Japan’s Nikkei 225 rose 0.52%, while the Topix added 0.43%. South Korea’s Kospi rose 0.11%, while the Kosdaq fell 0.18%.
Hong Kong’s Hang Seng gained 0.11% in the first hour of trading. In mainland China, the Shanghai Composite edged higher, while the Shenzhen Composite fell 0.22%.
United States
U.S. stock futures were little changed Monday evening as traders awaited Federal Reserve Chairman Jerome Powell’s latest comments on the state of the economy.
Dow Jones Industrial Average futures rose 11 points, or 0.03%. S&P 500 futures rose 0.06%, while Nasdaq 100 futures fell 0.06%.
World Wide International
Stocks rose in extended trading. The company, also known as WeightWatchers, announced that it will acquire Sequence, a subscription telehealth platform focused on long-term weight management.
During Monday’s regular meeting, the Dow
It closed slightly higher, up about 40 points, or 0.12%. S&P 500 Index
The Nasdaq Composite rose 0.07%
down 0.11%.
Shares were trading higher earlier in the day after Goldman Sachs initiated a buy rating on Apple, giving the iPhone maker and the broader market a boost. Apple accounts for about 7% of the S&P 500 index. Other big tech stocks such as Alphabet and Microsoft also rose.
Commodities
U.S. natural gas futures fell about 15% on Monday, their biggest one-day drop in more than eight months, on expectations for colder weather and heating demand in the next two weeks to be much weaker than previously expected.
The price drop came after the contract rose about 9% to a five-week high on Friday, as gas flows to U.S. liquefied natural gas (LNG) export facilities surged to record highs and Freeport LNG’s Texas export facility opened on Wednesday. The eight-month blackout in February was added after the exit.
“Natural gas futures fell sharply today after major weather models raised their 15-day forecasts,” analysts at energy consultancy Gelber and Associates said in a note.
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.
