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Wall Street Rally
All articles tagged with #wall street rally
"January Retail Sales Plummet, Raising Economic Concerns"
Despite a Wall Street rally and positive economic indicators, weak U.S. consumer spending data, with a significant drop of 0.8% in January, raises concerns about the strength of the economy. Ford CEO Jim Farley urged investors to focus on Ford's "Pro" fleet business over Tesla, while Russian leader Vladimir Putin expressed a preference for Joe Biden as U.S. president. Additionally, Nvidia's success in AI investments and Morgan Stanley's identification of Asia-Pacific AI beneficiaries highlight the ongoing impact of artificial intelligence on global markets.
"Tech Stocks Lead Asian Share Advance After Wall Street Rally"
Asian shares advanced following a Wall Street rally led by technology stocks, with Tokyo’s Nikkei 225 gaining 1.4% and Hong Kong’s Hang Seng adding 0.6%. The S&P 500 jumped 1.4% to 4,763.54, regaining momentum after its first losing week in the last 10, while the Nasdaq composite shot 2.2% higher. Earnings results from companies like Delta Air Lines and JPMorgan Chase are expected at the end of the week, and Thursday's release of the latest U.S. consumer inflation data is anticipated. The Federal Reserve's potential interest rate cuts and corporate profits are key focus areas, while U.S. benchmark crude oil added 26 cents to $71.03 a barrel.
Global Markets Show Mixed Performance Ahead of Thanksgiving Holiday
Asia-Pacific markets were mixed as Wall Street closed with a broad-based rally before the Thanksgiving holiday. Australia's S&P/ASX 200 extended losses, while South Korea's Kospi and Hong Kong's Hang Seng index recorded gains. Japan's markets were closed for a public holiday. Oil prices slid after OPEC+ delayed its policy-setting meeting. Singapore's inflation rate accelerated for the second consecutive month. Alibaba shares remained unchanged after founder Jack Ma halted plans to reduce his stake. Investors are advised to monitor earnings as the economy shows signs of slowing. Morgan Stanley predicts an emerging AI trend that will benefit certain companies. Energy stocks underperformed in the S&P 500, while U.S. crude prices declined after OPEC delayed its meeting. Initial jobless claims came in lower than expected.
"Asia Markets Rally on Wall Street's Boost; Australia Inflation Softens"
Asia-Pacific markets mostly rise, following Wall Street's tech rally. Australia's inflation rate for July softens to 4.9%, lower than June's 5.4%. Chinese property firm Country Garden plans to issue new shares to repay loans. Nio's Hong Kong-listed shares plunge 8.3% after posting a wider net loss in Q2. Chinese state-owned banks may soon lower interest rates on existing mortgages. Morgan Stanley's Andrew Slimmon predicts S&P 500 will reach 5,000 by year-end. Costco in China sees higher foot traffic compared to the US. UBS warns of a potential "bear trap" in Chinese stocks. The US Dollar reaches its highest level against the Yen in 2023. S&P 500, Nasdaq, and Dow trade above their 50-day moving averages. US Treasury yields decline ahead of key economic data releases. Apple sends invites for September 12 launch event, expected to announce iPhone 15 and new Apple Watches.