Market Highlights 💡 - 19 November 2024

U.S. markets rise as investors await earnings from tech giants; geopolitical concerns weigh on Asian markets

🇺🇸 S&P 500 Index: +0.41% 📈

🇺🇸 Nasdaq Index: +0.61% 📈

🇪🇺 Stoxx 600 Index: +0.01% 📈

🇯🇵 Nikkei 225 Index: -1.09% 📉

🇭🇰 Hang Seng Index: +0.80% 📈

🇨🇳 Shanghai-Shenzhen 300 Index: -0.46% 📉

🇸🇬 Straits Times Index: -0.32% 📉

U.S. markets broadly rose on Monday, with the S&P 500 and Nasdaq Composite gaining 0.4% and 0.6%, respectively, as investors anticipated strong quarterly earnings from AI leader Nvidia $NVIDIA Corp(NVDA)$  and Tesla $Tesla Motors(TSLA)$  , driven by favorable policy shifts under the incoming Trump administration.

Asia-Pacific markets closed mixed, with Hong Kong's Hang Seng Index up 0.8%, while the Shanghai-Shenzhen 300 Index fell 0.5%, as Chinese bank stocks rose on optimism that more measures would be taken to boost prices. Meanwhile, materials and energy stocks dragged down mainland Chinese markets.

💡 Upcoming Events 💡

Tuesday: The G20 summit will take place, and Europe will release final Core CPI and CPI year-on-year data.

Wednesday: China will announce its 1-year and 5-year Loan Prime Rates.

Thursday: The U.S. will release data on jobless claims and the Philadelphia Fed Manufacturing Index.

Friday: The U.S. will release preliminary Manufacturing and Services PMIs; Europe will release preliminary Manufacturing and Services PMIs; Japan will release its Core CPI year-on-year data.

💡 Things to Know Today 💡

1. Super Micro Computer $SUPER MICRO COMPUTER INC(SMCI)$   has announced it has appointed BDO USA as its auditor and has submitted a plan to Nasdaq for additional time to comply with listing requirements.

SMCI

2. Goldman Sachs $Goldman Sachs(GS)$  is considering options to spin off its technology platform within its digital assets division.

Goldman Sachs

3. China's Country Garden $COUNTRY GARDEN(02007)$  has recently shared preliminary terms of an offshore debt restructuring plan with some creditors and lowered its cash flow forecasts. The embattled real estate developer is seeking to avoid liquidation.

Country Garden

4. U.S. homebuilder confidence rose to a seven-month high in November, buoyed by optimism following the Republican election victory, with sales expectations for the next six months at their highest level in nearly two and a half years.

5. The Bank of Japan will publish an analysis next month on the pros and cons of its unconventional monetary easing tools, marking another symbolic step toward gradually ending its large-scale stimulus program.

Bank of Japan

✅ Key Takeaways:

Although Nvidia is the last of the seven tech giants to report earnings, attention and focus on U.S. earnings have already begun to expand into other sectors. This is worth noting, but the momentum in the market doesn't seem as strong as it was a quarter or two ago.

@Daily_Discussion  @TigerStars  @Tiger_comments  @TigerGPT