Indices

6 June 2024
S&P 500 and Nasdaq hit record highs on Fed easing hopes

Key points: S&P 500 and Nasdaq indexes hit record closing highs, driven by technology stocks. Private payrolls data shows slowdown in May, indicating potential for Fed rate cuts. On Wednesday, the S&P 500 and Nasdaq indexes soared to record closing …

4 June 2024
Japan’s Nikkei slips as investors seize profits after 2-day rise

Key points: Nikkei falls 0.45% to 38,749.25 after approaching 39,000 points. Investors take profits after two consecutive days of gains. Japan’s Nikkei share average fell on Tuesday as profit-taking set in after Japanese equities rebounded close to the 39,000-point mark …

4 June 2024
US inflation eases, reigniting interest rate cut hopes 

Key points:  PCE inflation rose 2.7% in April, easing fears of spiraling inflation.  US Dollar Index logged modest losses, reflecting a weaker greenback. This article is a follow-up to: PCE data to play integral role in Fed rate decisions  The …

3 June 2024
ECB rate cuts and US jobs data key in deciding market trajectory

Key points: ECB Rate Cut sees possible 25 basis point reduction with future signals being key. In the US, NFP release on Friday could prompt re-pricing of US interest rate cuts. The European Central Bank (ECB) is set to cut …

30 May 2024
Gold prices retrace as US dollar and treasury yields rise ahead of key inflation data 

Key points:  Spot gold falls to $2,330.44 per ounce.  Strengthening US dollar and higher Treasury yields pressure gold prices.  Traders focus on upcoming U.S. core PCE inflation data.  This article is a follow up from: Gold rises ahead of key …

27 May 2024
Nasdaq index soars as tech stocks continue to rally 

Key points:  Nasdaq composite index closed at a record high of 16,920.79, gaining 1.3% last week.  Impressive earnings report from Nvidia drives investor interest in AI-related stocks.  Nasdaq achieves nearly 9% gain in May, leading major indices.  The Nasdaq composite …

27 May 2024
Week ahead: PCE data to play integral role in Fed rate decisions

The Dow Jones and S&P 500 both ended their multi-week winning streaks, a shift driven by economic data that came in hotter than expected. This unexpected resilience in the economy has prompted many to push back their expectations for Federal …

24 May 2024
Japan’s Nikkei records weekly loss as Fed outlook weighs

Key points: Nikkei declines 1.17%, impacted by U.S. economic data. U.S. 10-year bond yield climbs, influencing global markets. Japan’s Nikkei share average fell sharply on Friday, reflecting declines on Wall Street. Strong U.S. economic data has stoked bets that persistent …

24 May 2024
Dollar rises as traders scale back US rate cut expectations

Key points: Dollar heads for its largest weekly rise in over a month. U.S. business activity hits a two-year high, influencing interest rate expectations. The dollar surged this week, marking its largest weekly rise in over a month. Surprisingly strong …

17 May 2024
US stocks pullback: Rising bond yields and hawkish Fed comments  

Key Points:  Optimism for US stock indexes shortlived since the US inflation data was announced, making record highs and then closing lower.  Such pullback was mainly attributed to the rise in bond yields.  Hawkish comments from Fed officials weighed on stocks.  …

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