Japan Shines As Aisa Market Gains, Europe Mixed, Crude Oil Above $81 - Markets Today While US Slept
Portfolio Pulse from Akanksha Bakshi
On March 15th, U.S. markets fell, led by a downturn in technology stocks. Economic data showed a slight increase in industrial production, a significant drop in the NY Empire State Manufacturing Index, and a decrease in consumer sentiment. Asian markets, however, saw gains on March 18th, with Japan's Nikkei 225 leading. Speculation about the Bank of Japan's potential rate hike influenced markets. European markets were mixed, with slight gains in major indexes. Crude oil prices rose above $81. U.S. futures indicated mixed directions, and forex showed minor fluctuations.
March 18, 2024 | 11:31 am
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POSITIVE IMPACT
United States Natural Gas Fund (UNG) likely saw a positive impact from the 5.62% increase in natural gas prices.
With natural gas prices rising by 5.62%, UNG, which tracks the price movements of natural gas, is expected to see a positive short-term impact reflecting this increase.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 85
POSITIVE IMPACT
United States Oil Fund, LP (USO) likely benefited from the rise in crude oil prices above $81.
USO, which aims to track the daily price movements of West Texas Intermediate (WTI) light, sweet crude oil, is likely to experience a positive short-term impact due to the increase in crude oil prices.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 85
NEGATIVE IMPACT
The S&P 500 ETF, SPY, likely impacted by the downturn in technology stocks and overall market decline on March 15th.
The S&P 500's decline, led by technology sector losses, directly impacts SPY as it tracks the performance of the S&P 500. The ETF's short-term performance is likely to mirror the index's downturn.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 90