Asian Markets Up, Europe Mixed; Oil Advances And Gold Steady Near All Time High - Global Markets Today While US Slept
Portfolio Pulse from Akanksha Bakshi
U.S. stock markets closed higher on August 14th, with the S&P 500 extending its winning streak to five sessions, supported by lower-than-expected inflation data. The Dow Jones Industrial Average and Nasdaq Composite also saw gains. Asian markets mostly rose, while European markets were mixed. Commodities like oil and gold saw price increases.
August 15, 2024 | 10:54 am
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POSITIVE IMPACT
The Dow Jones Industrial Average rose by 0.61%, closing at 40,008.39.
The overall positive sentiment in the market, supported by lower inflation data, contributed to the rise in the Dow Jones.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Gold was trading higher by 0.69% at $2,496.70, nearing its all-time high.
Gold prices are rising due to market uncertainty and potential rate cuts, making it a safe-haven asset.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The Nasdaq Composite rose slightly by 0.03%, finishing the session at 17,192.60.
Despite pressures on tech stocks, the Nasdaq managed to close slightly higher, indicating resilience in the tech sector.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 85
POSITIVE IMPACT
The S&P 500 extended its winning streak to five sessions, supported by lower-than-expected inflation data.
Lower-than-expected inflation data suggests potential Federal Reserve rate cuts, which is positive for the stock market.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Crude Oil WTI was trading higher by 0.75% at $77.56/bbl, and Brent was up 0.80% at $80.39/bbl.
Oil prices are rising due to hopes for U.S. rate cuts boosting fuel demand, despite concerns over global demand and inventory gains.
CONFIDENCE 75
IMPORTANCE 65
RELEVANCE 75