2023-12-28 08:09:08
Trade Overview: Stocks, Bonds, Forex, and Commodities Update
In the latest trade overview, current reports, trends, indices, stock prices, bonds, foreign exchange, and commodities are in focus, along with analyst recommendations.
Asian stock exchanges are trading in a mixed trend this morning, with the Nikkei falling by 0.4%, the Hang Seng jumping by about 2.3%, the Shanghai Stock Exchange rising by 1.4%, and the Kospi climbing by about 1.3%. Also, US futures are trading in a positive trend.
On Wall Street, trading closed in a positive trend, with the Nasdaq rising 0.2%, the S&P 500 at a similar rate, and the Dow Jones adding 0.3% to its value.
The largest IPO since 2021 took place with the chip company Dark recording a victory as the United States Court of Appeals overturned the import ban on a number of Apple smartwatches. This news comes after it was announced that the US Trade Representative refused to veto the government court’s decision to ban the import and sale of Apple watches in the US.
The US government bonds continued to fall sharply, with the yield on US bonds decreasing by 10 basis points to around 3.79%. However, this morning, US government bonds are rising slightly.
In the global forex market, the dollar has weakened by 1.8% compared to the euro, with expectations in the markets for faster interest rate cuts in the US compared to Europe.
In the oil market, decreases of 1.5% were recorded, and gold climbed about 1.1% on Wednesday, standing at $2,092 per ounce. This morning, oil and gold prices are trading stable.
In the macro sector, industrial production data in Japan indicated a monthly decrease of 0.9% in November, and later today, initial claims data for unemployment benefits and home sales data will be published in the US.
According to Alex Zebzinski, Chief Economist at Meitav Investment House, “inflation in the US is expected to reach 2% within three months.” This has led to a rapid decrease in interest rate expectations in all major countries.
Zebzinski also notes that “representatives of the major central banks are trying to cool enthusiasm in the markets and warn that interest rates will not drop so quickly. However, it seems that a rapid drop in inflation leaves them no choice but to start the process of lowering interest rates as soon as possible.”
The markets are closely watching these developments to see potential impacts on interest rate policies and inflation targets across various economies. As the week progresses, traders and investors will continue to monitor these trends and adjust their strategies accordingly.
#mixed #trend #Asia #Nikkei #falls #slightly #Hang #Zeng #soars