Weekly Markets Rundown: A Mixed Bag with Glimmering Oil and Tech
London: 19 January 2024 (TraderMade): Welcome to the weekly market rundown, where we navigate the choppy waters of global investments. This week saw a diverse performance across continents and asset classes, leaving market participants to adjust their sails accordingly.
Key Takeaways
- Geopolitical and economic anxieties impacted European and Asian markets, while resilient tech stocks lifted US indices.
- The Japanese Yen emerged as a safe-haven winner, while the New Zealand Dollar suffered headwinds.
- Crude oil prices surged, offering a bright spot against the mixed equity performance.
Forex
The Japanese Yen (USDJPY) surged 2.67%, finding refuge in its safe-haven status amid global uncertainties. The New Zealand Dollar (NZDUSD) dipped 2.47%, impacted by weaker-than-expected economic data.
European Indices
European indices faced headwinds, with the FTSE 100 (UK100) currently at 7485.5 and CAC 40 (FRA40) at 7366.3 - down over 3%. Recessionary fears and geopolitical tensions weighed heavily. The DAX 30 (GER30) followed suit, falling 2.56% to 16550.6.
US Indices
US markets showcased resilience, with the Standard and Poor's 500 Index (SPX500) gaining 2.03% to 4789.15. Tech stocks led the charge, buoyed by optimistic earnings reports. The Nasdaq (NAS100) shone even brighter, climbing 3.42% to 17079.45 due to strong tech performance. The Dow Jones Industrial Average (USA30) also rose 1.58% to 37515, despite mixed performances from individual components.
Asia-Pacific Markets
Japan's Nikkei 225 (JPN225) fell 2.6% to 36017, mirroring the European downtrend. Hong Kong's Hang Seng Index (HKG33) experienced a significant 7.29% decline to 15209.5 - weighed down by tech sell-offs and regulatory concerns.
Crude Oil
Oil prices rallied across the board, with Brent Crude (Currently at $79.34/barrel) and West Texas Intermediate (at $74.588/barrel) - rising over 4%. Cold weather and supply concerns fueled the upward trend.
