Asia And European Markets Slide Post US Inflation Data, Crude Jumps 3% While Gold Surpasses $1,900 - Global Markets Today While US Was Sleeping
Portfolio Pulse from Akanksha Bakshi
US stock markets closed in red on October 13 due to rising bond yields and higher-than-expected September consumer price. Asian and European markets also slid, with concerns over strong US inflation data and its impact on interest rates. Commodities saw crude oil jump by 3.90% and gold surpass $1,900. US futures were down in early trading.
October 13, 2023 | 10:26 am
News sentiment analysis
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POSITIVE IMPACT
The Gold ETF (GLD) is likely to benefit from the market slide as gold prices have surpassed $1,900.
The Gold ETF (GLD) tracks the price of gold, which has increased due to market uncertainties. This is likely to positively impact the ETF in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
The S&P 500 ETF (SPY) is likely to be negatively impacted by the market slide due to rising bond yields and inflation concerns.
The S&P 500 ETF (SPY) tracks the performance of the S&P 500 index, which has declined due to rising bond yields and inflation concerns. This is likely to negatively impact the ETF in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100