Asia Mostly Lower Amid US Rate Concerns, Europe Dips While Crude Flirts Around $94 - Global Markets Today While US Was Sleeping
Portfolio Pulse from Akanksha Bakshi
US stock markets ended mixed on September 27 due to concerns over increased Treasury yields, interest rate uncertainties, and a potential partial government shutdown. S&P 500 sectors saw utilities decline by 1.9% while energy surged 2.5% as Brent crude surpassed $97 a barrel. Asian markets mostly fell due to worries about US monetary tightening and poor retail sales figures in Australia. European stocks also declined, with energy stocks limiting losses. Commodities saw mixed results, and US futures were down.
September 28, 2023 | 10:51 am
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POSITIVE IMPACT
The S&P 500 saw a slight gain of 0.02%, settling at 4,274.51.
The slight gain in the S&P 500 indicates a positive short-term impact. However, the ongoing uncertainties may affect future performance.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Energy sector surged 2.5% as Brent crude surpassed $97 a barrel.
The rise in Brent crude prices has a positive impact on the energy sector, including USO.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Australia’s S&P/ASX 200 fell 0.08% due to a slump in consumer stocks and poor retail sales figures.
The poor retail sales figures in Australia have a negative impact on the S&P/ASX 200 and consequently on FXA.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 70