Asia And Europe Markets Mixed, Crude Oil Tops $85 And Gold Hits A New Peak At $2,280 - Global Markets Today While US Slept
Portfolio Pulse from Akanksha Bakshi
On April 1st, U.S. stock markets ended mixed with the Dow and S&P 500 dipping due to concerns over Fed rate cuts timing, influenced by strong manufacturing data raising Treasury yields. The energy sector saw gains with rising crude oil prices, while real estate, healthcare, and utilities sectors declined. Asian and European markets were mixed, with commodities like crude oil and gold reaching new highs. U.S. futures pointed to a lower opening.
April 02, 2024 | 10:44 am
News sentiment analysis
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POSITIVE IMPACT
SPDR Gold Shares (GLD) expected to rise as gold hits a new peak at $2,280, marking a 1.09% increase.
GLD, which aims to reflect the performance of the price of gold bullion, is directly impacted by the surge in gold prices to new highs.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
United States Oil Fund, LP (USO) likely to see gains as crude oil prices rise, with WTI trading higher by 1.88% at $85.37/bbl.
USO, which tracks the daily price movements of West Texas Intermediate (WTI) light, sweet crude oil, is likely to benefit from the increase in crude oil prices.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 85
NEGATIVE IMPACT
The S&P 500 ETF, SPY, dipped due to concerns over the timing of Fed rate cuts, influenced by strong manufacturing data.
The S&P 500's dip directly impacts SPY as it tracks the performance of the S&P 500 Index. Concerns over Fed rate cuts and strong manufacturing data are likely to influence short-term performance.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90