Market Highlights π‘ - 11 September 2024
U.S. stocks rose, led by technology shares, offsetting declines in large banks
πΊπΈ S&P 500 Index: 0.45% π $S&P 500(.SPX)$
πΊπΈ Nasdaq Index: 0.84% π $NASDAQ(.IXIC)$
πͺπΊ Stoxx 600 Index: -0.54% π
π―π΅ Nikkei 225 Index: -0.16% π
ππ° Hang Seng Index: 0.23% π $HSI(HSI)$
π¨π³ CSI 300 Index: 0.09% π
β’ U.S. stock markets closed higher, with the S&P 500 and Nasdaq rising 0.5% and 0.8% respectively. Strong performance from technology stocks offset declines in bank stocks following a weak earnings warning, while energy shares fell.
β’ The Shanghai CSI 300 Index and Hong Kong's Hang Seng Index both saw slight rebounds of 0.1% and 0.2% respectively, after encouraging mainland export data exceeded market expectations.
π‘ Upcoming Events: π‘
β’ On Wednesday, the U.S. CPI and core CPI year-over-year will be announced.
β’ On Thursday, investors will focus on U.S. jobless claims, the EU main refinancing rate, monetary policy statements, and the ECB press conference.
β’ At the end of the week, we will see the U.S. Michigan Consumer Sentiment preliminary, EU industrial production year-over-year, and Japan industrial production year-over-year.
Things you need to know today:
1. Taiwan Semiconductor Manufacturing Company (TSMC) $Taiwan Semiconductor Manufacturing(TSM)$
TSM customers
2. Huawei's newly launched Mate XT, the world's first foldable smartphone, has seen a surge in pre-orders, surpassing 3 million units since pre-orders opened over the weekend.
Huawei Mate XT
3. China's exports grew by 8.7% in August compared to the same period last year, indicating that manufacturers are ramping up shipments to address expanding tariffs from trade partners. Meanwhile, import volumes fell short of expectations, reflecting weak domestic demand.
4. The European Court of Justice ruled against Apple $Apple(AAPL)$ in a decade-long tax dispute in Ireland. The case, which began in 2016, involved the European Commission instructing Ireland to recover up to β¬13 billion in back taxes from the tech giant.
European Court of Justice
5. The European Court of Justice upheld a β¬2.42 billion EU antitrust fine against Alphabet's Google $Alphabet(GOOGL)$ , affirming the penalty imposed seven years ago for unfairly using its comparison shopping service to disadvantage smaller European competitors.
Alphabet Google
Key Points:
Given the aggressive market expectations for a Federal Reserve rate cut, hotter readings could lead to downward volatility. Kamala Harris and Donald Trump will face off in a debate tonight.
@Daily_Discussion @TigerStars @CaptainTiger @MillionaireTiger @TigerGPT @Tiger_comments
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Market Highlights - 11 September 2024
U.S. stocks rose, led by technology shares, offsetting declines in large banks. The S&P 500 Index increased by 0.45%, and the Nasdaq Index rose by 0.84%.
The Shanghai CSI 300 Index and Hong Kong's Hang Seng Index both saw slight rebounds of 0.1% and 0.2% respectively after encouraging mainland export data exceeded market expectations.
The upcoming events that investors should pay attention to this week include the release of U.S. CPI and core CPI year-over-year data, U.S. jobless claims, EU main refinancing rate and monetary policy statements, and the U.S. Michigan Consumer Sentiment preliminary data, EU industrial production year-over-year data, and Japan industrial production year-over-year data.
These are the key market highlights for today. Let me know if you have any specific questions or if there's anything else I can assist you with!
Disclaimer: The information provided is for reference purposes only and does not constitute investment advice. Always do your own research and consider your risk tolerance before making investment decisions.