Market Highlights π‘ - 17 September 2024
Dow Jones Hits New High Amid Interest Rate Cut Expectations
πΊπΈ S&P 500: +0.15% π $S&P 500(.SPX)$
πΊπΈ Nasdaq: -0.51% π $Invesco QQQ(QQQ)$
πͺπΊ STOXX 600: -0.16% π
π―π΅ Nikkei 225: Closed
ππ° Hang Seng Index: +0.32% π $HSI(HSI)$
π¨π³ CSI 300: Closed $CSI300(000300.SH)$
U.S. markets were mixed, with the S&P 500 up 0.2% and the Nasdaq down 0.5%. The expected interest rate cut is driving the Dow Jones to a new all-time high. However, Apple's $Apple(AAPL)$
The Hang Seng Index rose 0.3% in light trading during the holiday, offsetting the impact of weak new home sales data from mainland China, which showed a 5.3% year-over-year decline.
π‘ Upcoming Events: π‘
U.S. Core Retail Sales Month-over-Month and Industrial Production Month-over-Month will be released on Tuesday.
On Wednesday, Japan's export year-over-year data, EU final CPI year-over-year, and core CPI year-over-year will be announced.
On Thursday, investors will watch for the U.S. Federal Funds Rate, FOMC economic forecasts, FOMC statement and unemployment claims data.
At the end of the week, we will see Japan's national core CPI year-over-year, Bank of Japan's policy rate, monetary policy statement, and China's 1-year and 5-year loan prime rates.
Here are things to know today:
1. The U.S. dollar has fallen to its lowest level since January as traders increased their bets on a half-point interest rate cut by the Federal Reserve this week.
US dollar
2. China has announced a breakthrough in the development of domestic chip manufacturing equipment, marking a significant step toward overcoming U.S. sanctions aimed at hindering Beijing's semiconductor ambitions.
3. Republican presidential candidate Donald Trump was unharmed on Sunday after the Secret Service thwarted what the FBI described as a clear assassination attempt while Trump was golfing in West Palm Beach, Florida. $TRUMP MEDIA & TECHNOLOGY GROUP CORP(DJT)$
Assassination near West Palm Beach
4. Oil prices have risen to $72.80 per barrel, driven by expectations of a U.S. rate cut later this week. However, gains were limited due to ongoing concerns about demand and weak economic data from China.
Oil
5. According to Singapore's Second Minister for Finance, Singapore is ready to implement bold reforms to its regulatory framework to revive its struggling stock market $Straits Times Index(STI.SI)$
Singapore second minister of finance
Key takeaway:
The stock market is moving in different directions as speculation grows that the Federal Reserve might implement a larger 50 basis point rate cut in its monetary policy decision on Wednesday.
@Daily_Discussion @TigerStars @CaptainTiger @MillionaireTiger @TigerGPT @Tiger_comments
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Based on the news articles I found, here are some highlights related to the Dow Jones and interest rate cut expectations:
Bets on Wild Stock-Market Swings Boom as Traders Face Most Uncertain Fed Rate Decision in Recent Memory: Traders are preparing for potential wild swings in the stock market as they anticipate the Federal Reserve's interest rate decision. The uncertainty surrounding the size of the expected interest rate cut has led to increased volatility in the options market. Analysts have noted that the degree of uncertainty expressed by markets is the highest they have seen since at least 2015. Read more
Fed Rate Cut Dilemma: Will a 25 or 50 Basis Point Move Propel Markets or Trigger a Sell-Off?: The article discusses the potential impacts of a 25 or 50 basis point interest rate cut by the Federal Reserve. Sectors that are sensitive to lower borrowing costs, such as technology, consumer discretionary, and real estate, could see an uptick if the Fed opts for a 25 basis point cut. Bonds, precious metals like gold, and currencies could also be affected by the rate cut decision. Read more
Bond Traders Favor Half-Point Rate Cut Despite Retail Sales Data: Bond traders are favoring bets that the Federal Reserve will announce a 50-basis-point rate reduction, undeterred by retail sales data that suggests the US consumer is holding up. The market-implied odds of a half-point rate cut are around 55%. Debate over the size of the rate cut has been dominating financial markets. Read more
Markets A.M.: How Big Will the Rate Cut Be?: Traders are increasing the chances of a half-percentage-point interest rate cut by the Federal Reserve. Derivatives markets suggest a two-thirds probability of a supersized rate cut. The decision on the size of the rate cut is due on Wednesday. Read more
Dow closes at record high as expectations grow for jumbo Fed interest-rate cut: The Dow Jones Industrial Average closed at a record high, driven by growing expectations of a large interest rate cut by the Federal Reserve. The market is speculating that the Fed might implement a larger 50 basis point rate cut in its monetary policy decision. Read more
Please note that there is no specific news directly mentioning Apple's stock performance or the Hang Seng Index in the articles I found. Apologies for any inconvenience caused. If you would like more specific information on a particular stock, I recommend checking the stock quote page for more relevant news and information.
Remember, the news articles are based on public information and market sentiment, and they should be considered for informational purposes only. Investing in the stock market involves risks, and individual research and careful consideration of your investment objectives are essential.
Let me know if there's anything else I can assist you with!