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10/01/2024

Today’s Announcements & News

Asia

Asia-Pacific markets mostly rose on Tuesday, rebounding from the previous session’s sell-off. The Nikkei 225 surged 1.16%, reaching its highest level since March 1990 at 33,763.18, with gains in tech stocks contributing to the rally. In Japan, December inflation numbers for Tokyo were assessed, revealing a slowdown to 2.4%, down from 2.6% in the previous month. Australia’s S&P/ASX 200 index climbed 0.93%, ending a four-day losing streak, as retail sales for November exceeded expectations. South Korea’s Kospi slipped 0.26%, while the Kosdaq gained 0.6%. Hong Kong’s Hang Seng index inched up 0.34%, and the CSI 300 in mainland China rose 0.29%.

US

The S&P 500 recovered from an earlier decline on Tuesday, boosted by gains in tech shares, as Wall Street aimed to recover from a challenging start to 2024. While the broad market index initially fell by 0.7%, it later trimmed losses to 0.2%. The Dow Jones Industrial Average traded 231 points lower (0.6%), and the Nasdaq Composite turned positive, gaining 0.1%. Notably, Nvidia reached a new all-time high, Amazon rose over 1%, and Alphabet also showed gains. Tech stocks, which outperformed in 2023, faced challenges at the beginning of 2024, contributing to broader market pressure.

Commodity

Oil prices rebounded on Tuesday, recovering from the previous session’s decline, as markets assessed tensions in the Middle East against concerns about demand and increasing OPEC supply. Brent crude futures rose by 2.05% to $77.68 a barrel, while U.S. West Texas Intermediate crude futures gained 2.26% to $72.37 a barrel.

Gold prices remained steady on Tuesday as investors exercised caution ahead of U.S. inflation data scheduled for later in the week. This data could offer insights into the Federal Reserve’s policy direction. Spot gold held at $2,027.71 per ounce after touching its lowest level in over three weeks on Monday, while U.S. gold futures remained stable at $2,033.4 per ounce.

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.

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