Geopolitics Mars Market Sentiment Amidst Earnings Season Onset
Rising tensions in the Middle East, strong consumer spending data from the U.S., upbeat economic data from China and the quarterly earnings updates shaped market sentiment early on Wednesday.
Wall Street Futures are trading with mild losses. European benchmarks are trading mostly higher whereas FTSE 100 was muted following higher-than-expected inflation readings. Asian stocks closed on a mixed note amidst GDP, industrial production and retail sales data from China that far exceeded expectations as well as lingering property sector woes.
Strong economic data from China dimmed the Dollar’s dazzle. Bond yields mostly hardened. Crude Oil and Gold surged ahead amidst the escalating tension in the Middle East. Crypto rally fizzled but Bitcoin is firm above the flatline.
Here is a snapshot of the major world markets at this hour.
Stock Indexes:
DJIA (US30) at 33,980.90, down 0.05%
S&P 500 (US500) at 4,366.80, down 0.15%
Germany’s DAX at 15,258.45, up 0.04%
U.K.’s FTSE 100 at 7,671.22, down 0.05%
France’s CAC 40 at 7,041.99, up 0.17%
Euro Stoxx 50 at 4,158.85, up 0.16%
Japan’s Nikkei 225 at 32,042.25, up 0.20%
Australia’s S&P ASX 200 at 7,077.60, up 0.30%
China’s Shanghai Composite at 3,058.71, down 0.80%
Hong Kong’s Hang Seng at 17,732.52, down 0.23%
Currencies:
EUR/USD at 1.0583, up 0.08%
GBP/USD at 1.2202, up 0.20%
USD/JPY at 149.76, down 0.02%
AUD/USD at 0.6384, up 0.33%
USD/CAD at 1.3631, down 0.13%
Dollar Index at 106.11, down 0.14%
Ten-Year Govt Bond Yields:
U.S. at 4.850%, up 0.02%
Germany at 2.9040%, up 0.76%
France at 3.527%, up 0.46%
U.K. at 4.6220%, up 2.44%
Japan at 0.808%, down 0.12%
Commodities:
Brent Oil Futures (Dec) at $91.79, up 2.10%.
Crude Oil WTI Futures (Dec) at $87.39, up 2.28%.
Gold Futures (Dec) at $1,951.25, up 0.80%.
Cryptocurrencies:
Bitcoin at $28,516.17, up 0.39%
Ethereum at $1,575.20, down 0.78%
BNB at $212.82, down 0.24%
XRP at $0.4886, down 0.68%
Solana (SOL) at $23.95, down 1.67%.
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