Asia Market Mixed, Europe Up, While Crude Oil Moves Above $80 - Global Markets Today While US Slept
Portfolio Pulse from Akanksha Bakshi
U.S. markets closed mixed with the S&P 500 and Nasdaq declining, while Asian markets showed mixed results and European markets trended upwards. Economic data revealed a 7.1% increase in U.S. mortgage applications. The energy, materials, and utilities sectors led gains in the S&P 500, whereas information technology and real estate sectors underperformed. Crude Oil WTI and Brent both saw increases, trading above $80. Commodities and futures also experienced varied movements.
March 14, 2024 | 11:11 am
News sentiment analysis
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NEGATIVE IMPACT
SPDR Gold Shares (GLD) might face a slight negative impact as Gold trades lower by 0.29% at $2,174.50.
GLD, which aims to reflect the performance of the price of gold bullion, is likely to be negatively affected by the decrease in gold prices.
CONFIDENCE 70
IMPORTANCE 65
RELEVANCE 75
NEGATIVE IMPACT
The S&P 500 ETF (SPY) experienced a decline of 0.19%, influenced by underperformance in the information technology and real estate sectors.
The S&P 500's decline, particularly due to the underperformance in key sectors, directly impacts SPY as it tracks the performance of the S&P 500.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
United States Natural Gas Fund (UNG) may experience a positive short-term impact as Natural Gas prices increased by 0.78% to $1.671.
The rise in natural gas prices directly benefits UNG, which seeks to track the price movements of natural gas.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
United States Oil Fund (USO) likely to see positive short-term movement as Crude Oil WTI trades higher by 1.04% at $80.56/bbl.
USO, which aims to track the daily price movements of West Texas Intermediate (WTI) light, sweet crude oil, is directly impacted by the increase in crude oil prices.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 85