U.S. stocks closed higher as investors turned their attention back to economic data; Asian markets mixed on earnings results.
๐บ๐ธ S&P 500 Index: +0.55% ๐
๐บ๐ธ Nasdaq Index: +0.06% ๐
๐ช๐บ Stoxx 600 Index: +0.43% ๐
๐ฏ๐ต Nikkei 225 Index: -0.85% ๐
๐ญ๐ฐ Hang Seng Index: -0.53% ๐
๐จ๐ณ CSI 300 Index: +0.09% ๐
๐ธ๐ฌ Straits Times Index: -0.12% ๐
โข U.S. markets generally rose on Thursday, with the S&P 500 and Nasdaq Composite increasing by 0.6% and 0.1%, respectively, as investors flocked into cyclical stocks expected to benefit from economic acceleration and moved out of tech stocks.
โข U.S. initial jobless claims fell by 6,000 to 213,000, below the expected 220,000, suggesting a possible rebound in employment growth in November.
โข Asia-Pacific stocks ended mixed, with the Hang Seng Composite $HSI(HSI)$ falling by -0.5% and the CSI 300 $CSI300(000300.SH)$ Index rising slightly by 0.1%, as investors assessed corporate earnings and the prospects of further stimulus policies in China.
๐ก Upcoming Events ๐ก
On Friday, the U.S. will release Manufacturing PMI Flash and Services PMI Flash; Europe will release Manufacturing PMI Flash and Services PMI Flash; Japan will release National Core CPI YoY.
๐ก Things to Know Today ๐ก
1. Indian billionaire Gautam Adani has been charged by U.S. prosecutors with fraud for allegedly being involved in a $265 million bribery scheme to secure power supply contracts from Indian officials.
Gautam Adani
2. U.S. existing home sales in October saw a significant rebound of 3.4% YoY, marking the first annual growth since mid-2021, as buyers rushed into the market to take advantage of a brief drop in mortgage rates.
3. Chinese tech giant Baidu $Baidu(BIDU)$ $BIDU-SW(09888)$ reported a 3% YoY decline in third-quarter revenue on Thursday, but its revenue still exceeded market expectations, boosted by growth in its AI cloud business.
Baidu
4. The U.S. Department of Justice urged Google $Alphabet(GOOG)$ to sell its Chrome browser after a ruling in August found that the company holds a monopoly in the search market.
Chrome Browser
5. The Ministry of Commerce of the People's Republic of China announced a series of policy measures to promote foreign trade, including committing to strengthen financing support for businesses and increasing agricultural exports.
Ministry of Commerce China
โ Key Takeaways:
This week, people are taking a more serious look at Trump's trade policies rather than justโbelieving that the industry will perform well.โ
Comments
Here are some news articles related to the market highlights on 22 November 2024:
๐ฅShow us your tips for making a fortune on the market! - This article discusses the performance of various stocks, including MicroStrategy, SUPER MICRO COMPUTER INC, and Snowflake. It also mentions the factors influencing their stock prices. Read more
SG Morning Call๏ฝSingapore Stocks Opened Higher on Friday; ThaiBev Shares Gained 1% After Posting FY2024 Net Profit S$1.1 Billion - This article provides an overview of the Singapore stock market and mentions the performance of ThaiBev shares. Read more
Post-Bell๏ฝWall St Closes Higher as Dow, S&P Hit One-Week Tops; MSTR Plunges 16% While Bitcoin Approaches $100K - This article highlights the closing performance of Wall Street, with the Dow and S&P 500 hitting one-week highs. It also mentions the significant drop in MicroStrategy shares. Read more
Asian Morning Briefing: U.S. Stocks Rise, Led by Dow Industrials - This article provides an overview of the Asian stock market, including Chinese shares and their performance. Read more
US STOCKS-Wall St indexes mixed as Alphabet weighs; Dow hits one-week high - This article discusses the mixed performance of Wall Street indexes, with a focus on Alphabet and the push for the sale of Chrome by the U.S. Department of Justice. Read more
Please note that these articles are for informational purposes only and do not constitute investment advice.