Market Highlights 💡 - 21 November 2024

Ahead of Nvidia's earnings report, U.S. markets mixed; Asian markets rise on bargain-buying activity

🇺🇸 S&P 500 Index: 0.01% 📈

🇺🇸 Nasdaq: -0.11% 📉

🇪🇺 Stoxx 600 Index: -0.02% 📉

🇯🇵 Nikkei 225 Index: -0.16% 📉

🇭🇰 Hang Seng Index: 0.21% 📈

🇨🇳 CSI 300 Index: 0.22% 📈

🇸🇬 Straits Times Index: -0.19% 📉

Wednesday's U.S. Markets saw mixed results: The S&P 500 closed flat at 0.0%, while the Nasdaq Composite dropped -0.1%. Investors were under pressure from rising tensions between Russia and Ukraine, as well as weak earnings from Target, while awaiting Nvidia's earnings report after market close, causing a temporary pause.

Asia-Pacific Markets closed higher: The Hong Kong Hang Seng Index and China's CSI 300 Index both gained 0.2%, following comments from Howard Marks that China's stock market offers investment opportunities and cheap stocks, providing reassurance to investors anxious about China's economic growth prospects.

China maintained its benchmark lending rate: The one-year LPR remains at 3.1%, and the five-year LPR stays at 3.6%. Last month, banks had cut rates more than expected to stimulate economic activity.

💡 Upcoming Events 💡

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

Friday: The U.S. will release preliminary manufacturing and services PMI; Europe will release preliminary manufacturing and services PMI; Japan will release national core CPI YoY.

💡 Things to Know Today 💡

1. A group of Democratic Senators urged U.S. vehicle regulators to speed up the implementation of new vehicle safety regulations, citing that traffic-related deaths remain significantly higher than pre-pandemic levels.

2. President-elect Donald Trump pledged that upon taking office in January, he would make tariffs and tax cuts a central part of his economic agenda. $TRUMP MEDIA & TECHNOLOGY GROUP CORP(DJT)$  $Phunware, Inc.(PHUN)$  

Donald Trump

3. Target's $Target(TGT)$  holiday-quarter comparable sales and profits came in below expectations, as budget-conscious shoppers opted to buy low-cost essentials from competitors like Walmart $Wal-Mart(WMT)$ .

Target

4. Tech giant Apple $Apple(AAPL)$  proposed a $100 million investment in Indonesia to set up a factory for producing accessories and components.

Apple CEO visit to India

5. Nvidia's $NVIDIA Corp(NVDA)$  third-quarter earnings exceeded expectations, and it provided better-than-expected guidance, though it still fell short of some investors' high expectations.

Nvidia

✅ Key Takeaways:

After a strong rebound in growth and tech stocks yesterday, the stock market today appears more cautious.

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