Japan's Nikkei Boosts Asia Markets, Europe Opens Mixed; Crude Oil Falls 2% While Gold Stays Near Record High - Global Markets Today While US Slept
Portfolio Pulse from Akanksha Bakshi
U.S. stock markets closed higher on Thursday, led by the Nasdaq, after strong July retail sales data. Nine of the 11 major S&P 500 sectors advanced. Asian markets also saw gains, with Japan's Nikkei 225 up 3.88%. European markets opened mixed, and crude oil prices fell by 2%. Gold remained near record highs.
August 16, 2024 | 10:59 am
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NEGATIVE IMPACT
Crude oil prices fell by 2.06%, with WTI trading at $76.53/bbl.
The decline in crude oil prices could be due to concerns about global demand and oversupply, negatively impacting oil-related assets.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Gold prices remained near record highs, trading higher by 0.54% at $2,505.60.
Gold's price stability near record highs suggests continued investor interest in safe-haven assets amid global economic uncertainties.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The Nasdaq Composite rose 2.34%, driven by strong performance in the information technology sector.
The strong performance in the information technology sector, coupled with positive economic data, boosted the Nasdaq Composite.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
The S&P 500 closed higher by 1.61%, driven by strong retail sales data and improvements in the NY Empire State Manufacturing Index.
The strong retail sales data and improvements in the NY Empire State Manufacturing Index indicate a robust U.S. economy, positively impacting the S&P 500.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100