Global Markets:
- Asian Stock Markets : Nikkei down 0.18%, Shanghai Composite up 0.7%, Hang Seng up 1.71% ASX up 0.09%
- Commodities : Gold at $3236.35 (0.39%), Silver at $32.58 (0.69%), Brent Oil at $66.38 (-0.29%), WTI Oil at $63.27 (-0.29%)
- Rates : US 10-year yield at 4.471, UK 10-year yield at 4.6710, Germany 10-year yield at 2.6795
News & Data:
- (USD) Core CPI m/m 258.4B to 256.4B expected
- (USD) CPI m/m 258.4B to 256.4B expected
- (USD) CPI y/y 258.4B to 256.4B expected
Markets Update:
Asia-Pacific markets were mixed on Wednesday following gains on Wall Street, which were driven by easing U.S.-China trade tensions. Japan’s Nikkei 225 slipped 0.68%, snapping a four-day winning streak, while South Korea’s Kospi rose 0.53%. Australia’s S&P/ASX 200 was mostly unchanged. Hong Kong’s Hang Seng Index climbed 0.96%, whereas China’s CSI 300 remained flat.
Wall Street rallied earlier in the week after the U.S. and China reached a temporary truce on tariffs, with the Dow jumping more than 1,000 points on Monday. Despite the rebound, analysts at Julius Baer remain cautious, noting that they do not share the widespread optimism about a swift resolution. The bank emphasized that any future trade agreements would likely include complex conditions and take time to implement, making a complete rollback of tariffs unlikely.
Investors are also watching Asian chip stocks after Nvidia shares surged. CEO Jensen Huang announced the company will sell over 18,000 of its latest AI chips to Saudi Arabian startup Humain, backed by the country’s Public Investment Fund.
Meanwhile, U.S. stock futures were little changed, indicating a cautious start following a strong week. Futures tied to the S&P 500 and Nasdaq 100 remained flat, while Dow futures edged up by 30 points, or less than 0.1%.
Overnight, U.S. markets closed mixed. The S&P 500 rose 0.72% to 5,886.55, turning positive for the year, and the Nasdaq Composite gained 1.61% to 19,010.08. However, the Dow dropped 269.67 points, or 0.64%, dragged down by an 18% plunge in UnitedHealth shares.
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