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Abstract:Daily Analysis of Stock Movements, Bond Yields, and Economic Indicators - December 22, 2023
DAILY MARKET NEWSLETTERDate:December 22, 2023
Today's Market Overview from Trading Central's Global Research Desks
MARKET WRAP
STOCKS, BONDS, COMMODITIES
U.S. Stock Market:
Rising Trends:U.S. stocks saw a significant rebound. The Dow Jones Industrial Average increased by 322 points (+0.87%) to 37,404. The S&P 500 climbed 48 points (+1.03%) to 4,747, while the Nasdaq 100 rose 203 points (+1.23%) to 16,757.
Sector Performance:Leading sectors included automobiles & components (+3.02%), semiconductors (+2.25%), and healthcare equipment & services (+1.46%).
Company Highlights:
Micron Technology (MU) surged 8.63%.
Advanced Micro Devices (AMD) up by 3.28%.
Intel (INTC) and Nvidia (NVDA) also showed positive movements.
Bond Market and Commodities:
U.S. Treasury Yields:The 10-year yield fell 11 basis points to 3.890%.
Oil and Gold Prices:U.S. WTI crude oil futures declined slightly to $73.96 a barrel. Gold price remained stable at around $2,045.
European Stock Markets:
The DAX 40, CAC 40, and FTSE 100 all experienced declines.
FOREX Market Wrap:
The U.S. dollar weakened against major currencies, with the dollar index falling to 101.75.
Notable forex movements included EUR/USD and GBP/USD rising, while USD/JPY and AUD/USD saw declines.
Bitcoin is hovering around the $44,000 mark.
Economic Data:
U.S. third-quarter GDP growth was reported at 4.9%, with initial jobless claims slightly higher than expected.
The Philadelphia Fed manufacturing index and the Conference Board leading index showed downturns.
Technical Analysis and Market Sentiment:
The Dow Jones (CME) shows intraday support around 37580.00.
EUR/USD remains bullish with a pivot at 1.0970.
GBP/USD shows an upward trend, pivoting at 1.2645.
USD/JPY faces key resistance at 142.85.
Please Note:Market volatility may affect price levels and invalidate certain scenarios.
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Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
The global market experienced significant fluctuations driven by a mix of economic indicators, corporate updates, and geopolitical tensions. China's CPI rise indicates a recovery in domestic demand, while U.S. markets rebounded on strong employment data. Meanwhile, geopolitical tensions escalated with Ukraine's largest offensive in Russia’s Kursk region, and Middle Eastern ceasefire talks gained momentum. Key tech companies like Apple and Alibaba are set to release crucial earnings reports.
The global market is experiencing significant volatility due to uncertainties in economic data and central bank policies. Key highlights include the Nasdaq 100 index's dramatic rise and fall, Amazon's disappointing sales data, and Japan's significant stock market drop following an unexpected rate hike by the Bank of Japan.
The global market reacts to various developments, including Tesla's profit miss, China's interest rate cut, Bernard Arnault's net worth decline, and typhoon Gaemi's impact. The Mt. Gox compensation, Lineage Inc.'s IPO, and Netanyahu's speech in the US Congress also influence market dynamics. European banks' mixed performance, Canada's rate cut, and Russia's sanction issues add to the market fluctuations, along with South Korea's GDP contraction and stable oil prices.
Recent developments include Labour's landslide UK election victory, geopolitical tensions from Eurasian security discussions, Trump's election impact on Japanese stocks, EU's tech regulatory actions, tentative Hamas-Israel ceasefire, continuity in Mexican policies, Toronto's housing market rise, Boeing's Starliner issues, SpaceX's ISS deorbit contract, Indian IT companies' earnings, Malaysian tech stocks upgrade, Philippine inflation easing, Eli Lilly's Alzheimer's drug approval, US housing mark