Market Highlights π‘ - 24 December 2024
This week, Wall Street rose due to gains in tech stocks, while Asian markets gained on the back of lower U.S. inflation data.
πΊπΈ S&P 500 Index: 0.73% π
πΊπΈ Nasdaq Index: 0.99% π
πͺπΊ Stoxx 600 Index: 0.14% π
π―π΅ Nikkei 225 Index: 1.19% π
ππ° Hang Seng Index: 0.82% π
π¨π³ CSI 300 Index: 0.15% π
πΈπ¬ Straits Times Index: 0.87% π
U.S. stocks rose, with the S&P 500 and Nasdaq Composite gaining 0.7% and 1%, respectively, driven by gains in semiconductor stocks, notably Nvidia $NVIDIA Corp(NVDA)$
The U.S. Consumer Confidence Index (CB) dropped to 104.7 in December, down from 112.8 in November and below the expected 112.9, driven by concerns over inflation and the uncertainty of the labor market.
Asia-Pacific markets rose, with Hong Kong's Hang Seng Index gaining 0.8% following a decline in the U.S. PCE Index. Japan's Nikkei 225 Index rose 1.2%, as market speculation increased that Honda and Nissan are set to begin merger talks, which are scheduled to start today.
π‘ Upcoming Events: π‘
Tuesday: Data release from Japan, including the Bank of Japan's monetary policy meeting minutes.
Thursday: U.S. unemployment claims will be released.
Friday: Japan's Tokyo core CPI year-on-year and CPI year-on-year data will be released.
π‘ Things You Need to Know Today: π‘
1. President-elect Donald Trump stated that TikTok can continue operating in the U.S. temporarily, citing its billions of views and significant impact on his campaign.
Trump relieves on TikTok
2. Honda $Honda(HMC)$ and Nissan $Nissan Motor Co., Ltd.(NSANY)$ announced they have started merger talks, aiming for completion by 2026. This marks a significant shift in Japan's auto industry amid increasing competition from Chinese electric vehicle manufacturers.
Honda Nissan merger
3. Starbucks $Starbucks(SBUX)$
Starbucks Strike
4. China amended its controversial company law, offering debt liability exemption for former shareholders who sell shares before the July enactment. This change followed protests in 11 cities.
5. Capital A Bhd has submitted a restructuring plan to the Malaysian stock exchange, aiming to remove its PN17 status by Q1 2025 and reduce RM 6 billion in capital to cope with pandemic losses while maintaining operations and employee benefits.
Capital A Berhad
β Key Takeaway:
The U.S. stock market is entering the "Santa Claus rally," a historically strong period, with the S&P 500 Index rising an average of 1.3% since 1900.
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Here are some relevant news articles for the requested stocks:
NVIDIA (NVDA):
Title: "Tesla, Meta, and Broadcom Weights Shrink in Nasdaq 100 Rebalance"
Summary: Three of the worldβs biggest companies have had their influence reduced in the Nasdaq 100 Index after the giant technology rally of 2024 swelled them to unprecedented size. Read more
Title: "Broadcom, AMD, and Nvidia Lead Chip Stocks Higher Monday on Anticipation of AI-Driven Gains"
Summary: Chip stocks surged Monday, led by Broadcom and Advanced Micro Devices following bullish calls from analysts anticipating gains driven by demand for artificial intelligence. Read more
Broadcom (AVGO):
Title: "Tesla, Broadcom Jump 1% in Overnight Trading; Canaan Rises 5%; MicroStrategy Jumps 2%"
Summary: Tesla and Broadcom saw their stock prices rise in overnight trading. Canaan and MicroStrategy also experienced gains. Read more
Title: "Broadcom, AMD, and Nvidia Lead Chip Stocks Higher Monday on Anticipation of AI-Driven Gains"
Summary: Chip stocks surged Monday, led by Broadcom and Advanced Micro Devices following bullish calls from analysts anticipating gains driven by growing demand for artificial intelligence. Read more
Honda (HMC):
Title: "U.S. Stocks to Watch: Honda, Nissan, Qualcomm, Eli Lilly, Tesla, Rumble, and More"
Summary: Honda and Nissan announced they have started merger talks, aiming for completion by 2026. This marks a significant shift in Japan's auto industry amid increasing competition from Chinese electric vehicle manufacturers. Read more
Title: "Honda, Nissan Formalize Merger Talks, Aim to Combine by 2026"
Summary: Honda and Nissan took their first historic steps toward forming a joint holding company through merger talks. The definitive merger agreement is expected to be signed in June 2025. Read more
Starbucks (SBUX):
Title: "Starbucks Corp. Stock Underperforms Monday When Compared To Competitors"
Summary: Shares of Starbucks Corp. slid on Monday, with the stock underperforming compared to its competitors in the market. Read more
Title: "Foreign Brands Are Back in China, but the Economy Has Cooled and Domestic Competition Is Dug-In"
Summary: The article discusses the challenges and opportunities for foreign brands in the Chinese market, including Starbucks and their efforts to connect with Chinese consumers. Read more
Please note that these articles are for informational purposes only and do not constitute investment advice. It is recommended to conduct thorough research and analysis before making any investment decisions.