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14/04/2023

Today’s Announcements & News

Asia

After Wall Street gained on Friday, the U.S. producer price index showed additional signs of a cooling inflation rate, leading to a significant rise in Asia-Pacific markets.

After the U.S. consumer price index experienced the smallest increase in nearly two years, the March producer price index, a measure of prices paid by businesses and frequently a leading indicator of consumer inflation, decreased by 0.5 percent month-over-month.

In Singapore, its national bank kept up with its money related strategy as its center expansion stays at the most elevated levels in 14 years. Advance estimates indicated that the economy experienced a quarterly contraction of 0.7 percent and marginal growth of 0.1 percent year-over-year.

The only outlier in Australia was the S&P/ASX 200, which traded slightly lower. The Nikkei 225 in Japan gained 0.84 percent, while the Topix gained 0.34 percent.

The Kosdaq index gained the most in the region, climbing 1.19 percent, while South Korea’s Kospi gained 0.3 percent. The Hong Kong Hang Seng index futures were trading at 20,468 as of its most recent close, up from 20,344.48.

United States

Stock prospects are somewhat lower as financial backers focused on the beginning of corporate profit season while thinking about what the most recent expansion information suggests about the economy.

Futures on the Dow Industrial Average lost 0.1%, or 42 points. Nasdaq-100 futures lost 1%, while S&P 500 futures were slightly below the flatline.

The changes come after a successful day on Wall Street, when investors applauded the most recent data showing that inflation was slowing. The S&P 500 and Dow were up 1.3% and 1.1%, respectively, while the Nasdaq Composite finished nearly 2% higher.

The Walk maker cost file, a proportion of costs paid by organizations, declined 0.5% from the earlier month, even as financial experts surveyed by Dow Jones anticipated that costs should remain something similar. The index decreased by 0.1 percent from the previous month, excluding food and energy, while economists anticipated a 0.2% month-over-month increase.

Commodity

On Thursday, investors scrambled for the safe haven as further weak U.S. economic readings bolstered bets for a pause in interest rate hikes. Additionally, the prospect of a mild recession sent investors scrambling for gold.

By 1:40 p.m. EDT (17:40 GMT), spot gold was up 1.4 percent at $2,042.50 per ounce, its highest level since March 2022 and just $30 shy of its record high from 2020. U.S. gold prospects settled 1.5% higher at $2,055.30.

After soaring to multi-month highs in the previous session, oil prices fell on Thursday as a result of concerns about an impending recession in the United States and OPEC’s warnings about impacts on summer oil demand.

To $86.09 a barrel, Brent crude lost $1.24 cents, or 1.42 percent. West Texas Intermediate (WTI) in the United States lost $1.10, or 1.32 percent, to $82.16 per barrel.

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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