Global Markets:
- Asian Stock Markets : Nikkei up 1.19%, Shanghai Composite up 0.20%, Hang Seng up 0.21% ASX up 0.93%
- Commodities : Gold at $2040.5 (0.57%), Silver at $23.33 (0.34%), Brent Oil at $76.42 (0.23%), WTI Oil at $70.87 (0.17%)
- Rates : US 10-year yield at 4.028, UK 10-year yield at 3.803, Germany 10-year yield at 2.167
News & Data:
- (USD) Consumer Credit m/m 23.8B vs 8.9B expected
Markets Update:
Asia-Pacific markets bounced back, led by Japan’s Nikkei 225 hitting a 33-year high, closing at 33,763.18, fueled by tech stock gains. Tokyo’s December inflation slowed to 2.4%, with core inflation at 2.1%, aligning with expectations.
Australia surpassed expectations with a 2% month-on-month surge in retail sales for November 2023, boosting the S&P/ASX 200 by 0.93%, breaking a four-day decline streak.
However, South Korea’s Kospi slipped 0.26% due to Samsung Electronics cutting its Q4 2023 earnings forecast, while the Kosdaq rose 0.6% to 884.64.
In the US market, tech stocks led the gains as Nvidia surged 6.4% to a record high, Amazon rose nearly 2.7%, and Apple added 2.4% following a recommendation to buy after a recent dip by Evercore ISI.
Overall, the S&P 500 climbed 1.41%, the Nasdaq Composite soared 2.2%, marking its best day since Nov. 14, and the Dow Jones Industrial Average gained 0.58%, settling at 37,683.01.
Upcoming Events:
- 1:30 PM GMT – CAD Building Permits m/m
- 1:30 PM GMT – CAD Trade Balance
- 1:30 PM GMT – USD Trade Balance
