• Mon. Feb 26th, 2024

Asia, Wall Street: Stock Markets and Economic Indicators in Mixed Trends Amid Uncertainty

ByEditor

Feb 13, 2024
Japanese Nikkei Index Surges 3% and Sets New Record

In Asia, the stock markets in China are closed on Tuesday for the Chinese New Year. Meanwhile, in Japan, the Nikkei is up about 3% at this hour, trading at a new record high of 38,000. The Kospi index rises by 0.8%. US futures are trading slightly lower this morning.

Last night on Wall Street, the main indices closed in a mixed trend. The Nasdaq fell 0.3%, the S&P500 lost 0.1%, and the Dow Jones added 0.3%, breaking an all-time high. However, Beamr from Tel Aviv rose by 7.5% after Piper Sandler upgraded their recommendation on the stock to ‘overweight’ from ‘neutral’.

The share of Beamr jumped during trading on Monday by about 1500% after it reported a collaboration with the chip giant Nvidia. At the end of trading (Monday), the increases in the stock moderated and it closed with a jump of about 400%. The company’s market value was $129 million at the close on Wall Street.

In the US government debt market, the 10-year bond yield fell slightly last night and traded around 4.16%. The two-year bond yield was 4.47%.

This morning, oil prices are trading slightly higher than yesterday’s closing price of $82 per Brent barrel due to rising geopolitical tensions in Eastern Europe and unrest in Venezuela that have caused oil supply disruptions globally. Dr. Michael Bafman, chief economist at Bank Leumi, predicts that volatility in oil prices will continue to be relatively high as security events in the Middle East persist.

Today, unemployment data for Great Britain and consumer price index data for Switzerland are expected to be published today while inflation data for USA is expected to be released at Israel time (15:30 GMT).

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