Asia Mixed, Europe Markets Advance; Gold Steady Near All-Time High, Dollar Strengthens - Global Markets Today While US Slept

Author: Akanksha Bakshi | August 22, 2024 07:05am

On Wednesday, Aug. 21, U.S. stocks closed higher amid cautious trading, as investors absorbed a payrolls revision and Federal Reserve minutes, solidifying expectations for a September rate cut. The upcoming Jackson Hole symposium adds to market anticipation.

In economic data, FOMC minutes strengthened expectations for a September rate cut, highlighting ongoing disinflation progress. Meanwhile, U.S. mortgage applications dropped by 10.1% in the week ending Aug. 16, reflecting softer demand in the housing market.

Nine of the 11 major S&P 500 sectors ended in positive territory, with consumer discretionary stocks posting the highest percentage gains, while financials and energy closed lower.

The Dow Jones Industrial Average was up 0.14% and closed at 40,890.49. The S&P 500 ended the day higher by 0.42% at 5,620.85, and the Nasdaq Composite gained 0.57%, finishing the session at 17,918.99.

Asian Markets Today

• On Thursday, Japan's Nikkei 225 closed higher by 0.67% at 38,207.50, led by gains in the Paper & Pulp, Marine Transport, and Gas & Water sectors.
• Australia's S&P/ASX 200 gained 0.21%, ending the day at 8,027.00, led by gains in the IT, Industrials, and A-REITs sectors.
• India's Nifty 50 gained 0.17%, closing at 24,811.50, and Nifty 500 closed higher by 0.31% at 23,440.70.
• China’s Shanghai Composite was down 0.27%, ending the session at 2,848.77, and the Shenzhen CSI declined 0.26%, closing at 3,313.14.
• Hong Kong’s Hang Seng ended the session higher by 1.44% at 17,641.00.

Eurozone at 06:15 AM ET

• The European STOXX 50 index gained 0.33%.
• Germany's DAX rose 0.31%.
• France's CAC was up 0.33%.
• U.K.'s FTSE 100 traded higher by 0.25%.

Commodities at 06:15 AM ET

• Crude Oil WTI was trading higher by 0.22% at $72.08/bbl, and Brent was up 0.37% at $76.39 bbl.
• Natural Gas fell 0.55% to $2.163.
• Gold was trading lower by 0.12% at $2,544.55, Silver gained 0.31% to $29.630, and Copper fell 0.48% to $4.1700.

US Futures at 06:15 AM ET

Dow futures were up 0.09%, S&P 500 futures gained 0.09%, and Nasdaq 100 Futures rose 0.12%.

Forex at 06:15 AM ET

• The U.S. dollar index gained 0.24% to 101.29, the USD/JPY rose 0.39% to 145.82, and the USD/AUD rose 0.09% to 1.4842.
• European stocks rose slightly, oil prices fell for a fifth day, and the dollar remained subdued after Fed minutes hinted at likely U.S. rate cuts in September. Economic data and Fed expectations influenced markets.

Photo by Pavel Bobrovskiy via Shutterstock

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