08/01/2024
Today’s Announcements & News
Asia
Asia-Pacific markets exhibited mixed performance on Friday, concluding the first week of the new year with most markets experiencing declines. Hong Kong’s Hang Seng index fell 0.63%, while China’s CSI 300 dropped 0.54%, leading to a weekly loss of 2.97%. In Australia, the S&P/ASX 200 ended 0.07% lower, extending its decline for the third consecutive day, down 1.3% for the week. Japan’s Nikkei 225 rose 0.27%, marking the first gain since the New Year’s earthquake and JAL flight collision. South Korea’s Kospi shed 0.35%, and the smaller-cap Kosdaq gained 1.39%. The Topix and Kosdaq were among the top gainers for the week, set to rise over 1%.
US
The S&P 500 ended Friday with a modest gain, but all three major averages broke a nine-week winning streak following a stronger-than-expected jobs report. The broader index rose 0.18%, closing at 4,697.24, while the Nasdaq Composite added 0.09%, finishing at 14,524.07. The Dow Jones Industrial Average ticked higher by 25.77 points, or 0.07%, settling at 37,466.11. The three major averages experienced their first negative week in 10, with the Nasdaq suffering the biggest decline at 3.25% — its worst weekly performance since September. The S&P 500 and Dow dropped 1.52% and 0.59%, respectively. Stocks fluctuated on Friday as traders assessed economic data to determine potential Federal Reserve interest rate cuts.
Commodity
Gold held steady on Friday, fluctuating by about 1% during the session, but ultimately rose 0.1% to $2,044.21 per ounce. Despite the day’s movement, bullion posted its first weekly decline in four weeks, influenced by a stronger dollar and higher Treasury yields. In the oil market, prices gained as U.S. Secretary of State Antony Blinken prepared to visit the Middle East in an effort to prevent the Israel-Gaza conflict from escalating. Brent crude futures increased by $1.42, or 1.83%, reaching $79.01 a barrel, while U.S. West Texas Intermediate crude futures rose by $1.78, or 2.47%, closing at $73.97.
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.
