Today’s Announcements & News
Asia-Pacific markets recovered from earlier losses, driven by a combination of factors including business activity surveys, producer price index data, and global economic conditions.
Australia’s S&P/ASX 200 rebounded, gaining 0.19%, recovering from a recent downward trend.
Japan’s Nikkei 225 followed suit, climbing 0.2% and closing at 31,062.35, albeit with concerns about the purchasing managers index’s first contraction since December 2022.
South Korea’s Kospi also made gains, closing 1.12% higher and ending a three-day losing streak. The Kosdaq performed exceptionally well, surging 2.77%.
Mainland Chinese markets saw an uptick, with the CSI 300 index gaining 0.37% after four consecutive days of losses.
Hong Kong’s Hang Seng index, which was returning from a holiday, faced a decline of 0.89% in its final hour of trade.
Stocks showed gains on Tuesday as investors delved into a fresh round of earnings reports and closely tracked the latest developments in Treasury yields.
The Dow Jones Industrial Average saw a rise of 204 points, marking a 0.6% increase. The S&P 500 registered a 0.7% increase, while the Nasdaq Composite recorded a 0.9% climb.
Coca-Cola released earnings and revenue figures that surpassed expectations, causing a 2.8% rise in its stock. Spotify also saw a significant increase, jumping by 10% after its third-quarter results exceeded expectations.
General Motors, despite delivering better-than-anticipated third-quarter results, experienced a 2.3% dip in its shares. The company withdrew its full-year outlook due to increased costs linked to strikes by the United Auto Workers union.
Alphabet and Microsoft, along with other companies such as Amazon and Meta, are set to report their results after the market closes.
Oil prices have decreased for the third consecutive session, influenced by a series of sluggish economic data from Germany, the eurozone, and Britain, which have raised concerns about energy demand.
Brent crude futures saw a decline of $1.63, equivalent to 1.8%, reaching $88.20 per barrel. Meanwhile, U.S. West Texas Intermediate crude futures fell by $1.71, a 2% drop, to $83.78 per barrel.
Gold prices remained relatively stable on Tuesday after reaching a five-month high the previous week. Traders are closely monitoring both U.S. economic data and the ongoing tensions in the Middle East.
Spot gold inched up 0.1% to $1,975.39 per ounce, following an earlier 1% decline in the session. U.S. gold futures settled 0.1% lower at $1,986.1.
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.