24/01/2024
Today’s Announcements & News
Asia
Hong Kong stocks led gains in Asia markets on Tuesday, with the Hang Seng index jumping almost 3%, driven by a rebound in tech stocks. Mainland China’s CSI 300 also rose 0.4%, recovering from a near-five year low. The Nikkei 225 in Japan slipped marginally, closing at 36,517.58, while the Topix fell 0.11% to 2,542.07. Australia’s S&P/ASX 200 marked a third straight day of gains, rising 0.51%, and South Korea’s Kospi added 0.58%. The positive momentum followed reports that Chinese authorities were considering a stimulus package to stabilize the country’s stock markets.
US
The Dow Jones Industrial Average retreated on Tuesday, losing 89 points and slipping below the 38,000 level after reaching record-breaking highs the day before. The decline was influenced by a nearly 12% drop in 3M following disappointing guidance. Meanwhile, the S&P 500 and Nasdaq Composite rose by 0.3% and 0.4%, respectively, with the S&P 500 approaching a new all-time closing high.
D.R. Horton faced a more than 9% drop in its stock after falling short of Wall Street’s per-share earnings forecast. Lockheed Martin also slipped over 4%, influenced by a weaker outlook for full-year earnings per share. Conversely, United Airlines saw a more than 6% rise in its stock following robust fourth-quarter results. However, the airline anticipates a first-quarter loss due to the grounding of Boeing 737 Max 9 airplanes, the model involved in the recent Alaska Airlines emergency. Other airline operators, including American Airlines, Southwest Airlines, Delta Air Lines, and Alaska, experienced increases of more than 3%.
Commodity
Oil prices remained relatively stable on Tuesday, influenced by Libya restarting production at a major oilfield and a gradual recovery in North Dakota output following a winter storm. The West Texas Intermediate (WTI) contract for March dipped 39 cents to settle at $74.37 a barrel, while the Brent contract for March fell 51 cents to settle at $79.55 a barrel.
Gold prices experienced a slight increase on Tuesday as investors awaited key U.S. economic data throughout the week to gain insights into the Federal Reserve’s potential timeline for interest rate adjustments. Spot gold rose by 0.2%, reaching $2,025.09 per ounce, and gold futures settled 0.2% higher at $2,025.8.
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.
