10/03/2023
Today’s Announcements & News
Asia
Asia Pacific stock markets were mixed on Thursday as China’s inflation data for February softened. The economy’s consumer price index rose 1% year-on-year, the slowest pace of growth since February 2022.
The Shanghai Composite Index fell 0.22% to close at 3,276.09 points, and the Shenzhen Component Index fell 0.16% to close at 11,579.99 points. Hong Kong’s Hang Seng fell 0.22%.
Japan’s Nikkei 225 closed up 0.63% at 28,623.15 and the Topix rose 0.97% to 2,071.09 as the Bank of Japan held a two-day monetary policy meeting.
Bank of Japan Governor Haruhiko Kuroda will wrap up his final meeting on Friday, and investors are closely watching for any developments that may surprise markets. Economists polled by Reuters generally see no change to his ultra-dovish monetary policy.
United States
Stocks tumbled on Thursday as banks and other financial stocks sold off as investors braced for a key jobs report on Friday that could determine the direction of interest rates.
The S&P 500 fell 1.85 percent to 3,918.32, while the Dow Jones Industrial Average fell 543.54 points, or 1.66 percent, to 32,254.86. The Nasdaq Composite fell 2.05 percent to close at 11,338.35.
Thursday’s losses resulted in the Dow closing below its 200-day moving average for the first time since Nov. 9. For the week and year, the 30-stock index fell 3.4 percent and 2.7 percent, respectively. The S&P and Nasdaq are up 2.05% and 8.33%, respectively, in 2023, but could fall 3% or more on a weekly basis.
Silicon Valley Finance
Its shares plunged 60 percent after announcing a $1.75 billion share sale, giving it a market capitalization of just over $6 billion and dragging other regional bank names lower. Shares in Silvergate tumbled more than 42% on news the company was ceasing operations.
Commodities
Gold prices rose on Thursday as the dollar fell after data showed that the number of Americans filing new claims for jobless benefits rose more than expected last week, raising hopes that the Federal Reserve might not raise interest rates as aggressively as feared.
find gold
It rose 1.1 percent to $1,830.35 an ounce and was last down 0.02 percent at $1,830.57. U.S. gold futures rose 0.9% to $1,834.60.
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.
