Asia And Eurozone Markets Mixed, Crude Rises Above $90 Again - Global Markets Today While US Was Sleeping
Portfolio Pulse from Akanksha Bakshi
US stock markets closed significantly lower on Tuesday, September 26, with the Dow hitting its lowest since March amid weak consumer confidence and fears of persistent inflation and rising interest rates. Amazon.com, Inc (NASDAQ:AMZN) saw a 4% drop in its stock as it faced legal action from the Federal Trade Commission and 17 states. Asian and Eurozone markets were mixed, with Japan’s Nikkei 225 and China’s Shanghai Composite closing higher, while Australia’s S&P/ASX 200 and Germany’s DAX declined. Crude Oil WTI was trading higher by 1.02% at $91.28/bbl.
September 27, 2023 | 10:47 am
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POSITIVE IMPACT
Crude Oil WTI was trading higher by 1.02% at $91.28/bbl.
The rise in Crude Oil WTI prices is a positive sign for the US Oil Fund, which tracks the price of West Texas Intermediate light, sweet crude oil. This could continue to positively impact the ETF in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Amazon.com, Inc saw a 4% drop in its stock as it faced legal action from the Federal Trade Commission and 17 states.
The legal action against Amazon by the Federal Trade Commission and 17 states is a significant negative event that has led to a 4% drop in its stock. This could continue to negatively impact the stock in the short term as the legal proceedings unfold.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
The S&P 500 saw a decline of 1.47%, settling at 4,273.53.
The decline in the S&P 500 is indicative of the overall negative sentiment in the US stock market, driven by weak consumer confidence and fears of persistent inflation and rising interest rates. This could continue to negatively impact the index in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100