Gold Clocks New High At $2,415, Asia Markets Sans Japan Dip, Europe Gains - Global Markets Today While US Slept
Portfolio Pulse from Akanksha Bakshi
On Thursday, U.S. stock markets ended mostly higher, with the Nasdaq and S&P 500 seeing gains, driven by tech momentum stocks amid cooling inflation signs. U.S. producer prices and initial jobless claims both came in below expectations. Despite a drop in stocks on Wednesday due to higher-than-expected CPI data, technology stocks led gains in the S&P 500. The Dow Jones slightly declined. Asian markets were mixed, with Japan's Nikkei 225 gaining, while markets in Australia, India, China, and Hong Kong fell. European markets and commodities, including gold, silver, and crude oil, traded higher.
April 12, 2024 | 11:03 am
News sentiment analysis
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POSITIVE IMPACT
Gold reached a new high at $2,415, indicating a significant increase in value.
The surge in gold prices to a new high of $2,415 is a direct indicator of increased investor interest in safe-haven assets amid market volatility and inflation concerns. This is likely to positively impact the SPDR Gold Shares ETF ($GLD), as it directly correlates with the price of gold.
CONFIDENCE 95
IMPORTANCE 85
RELEVANCE 90
POSITIVE IMPACT
Natural Gas was up 0.23% at $1.763, showing a slight increase in natural gas prices.
The modest increase in natural gas prices, up 0.23% at $1.763, could signal a slight positive momentum for the United States Natural Gas Fund ($UNG), which tracks the price of natural gas.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Crude Oil WTI traded higher by 1.3% at $86.13/bbl, indicating a positive trend for oil prices.
The increase in WTI crude oil prices to $86.13/bbl suggests a bullish market for crude oil, potentially leading to positive short-term impacts for the United States Oil Fund ($USO), which tracks the price of WTI crude.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 80