Daily Synopsis of the New York market close
Date Issued – 18th December 2024PreviewAsian stocks edged higher Wednesday ahead of the Federal Reserve’s final rate decision for 2024, with Japan’s Nikkei down 0.2% but gains in Hong Kong, Shanghai, and South Korea. Nissan shares surged 22% on merger talks with Honda, while...
Daily Synopsis of the New York market close
Date Issued – 17th December 2024Alibaba Plans to Sell Intime Department Stores for $1 Billion Amid RestructuringAlibaba Group announced plans to sell its department store chain, Intime, to a consortium led by Youngor Fashion and Intime’s management for 7.4 billion yuan...
Daily Synopsis of the New York market close
Date Issued – 16th December 2024PreviewThis week, all eyes are on the Federal Reserve’s final meeting of 2024, where a 25-basis-point rate cut is anticipated. Fed Chair Jerome Powell’s comments on the 2025 outlook will be pivotal, especially as rate cuts may proceed more...
Daily Synopsis of the New York market close
Date Issued – 13th December 2024PreviewXiaomi’s stock has soared 103% this year, driven by strong momentum in its electric vehicle (EV) business, which now accounts for 10% of revenue. Demand for its SU7 sedan and upcoming YU7 SUV positions Xiaomi to rival smartphone...
Daily Synopsis of the New York market close
Date Issued – 12th December 2024PreviewAsian stocks rallied Thursday as softer US inflation data strengthened expectations of a Federal Reserve rate cut, with the MSCI Asia Pacific Index hitting a one-month high. Japanese and Hong Kong markets led gains, while Australia’s...
Daily Synopsis of the New York market close
Date Issued – 11th December 2024PreviewAsian stocks dipped as markets awaited US inflation data, which could shape the Federal Reserve’s rate decision. While South Korean stocks gained, Chinese equities fluctuated amid expectations of fiscal stimulus in 2025. The US dollar...
Daily Synopsis of the New York market close
Date Issued – 9th December 2024PreviewAsian markets slid on Monday as South Korea’s Kospi dropped 2.3% amid political strife, and Chinese shares fell ahead of key economic meetings. Tokyo’s Nikkei edged higher on expectations of a Bank of Japan rate hike, while...
Daily Synopsis of the New York market close
Date Issued – 6th December 2024PreviewThe November jobs report is expected to show a rebound in hiring, with payrolls forecasted to rise by 215,000 after October’s hurricane- and strike-affected 12,000. Unemployment is projected to hold at 4.1%, while wage growth may hit...
Daily Synopsis of the New York market close
Date Issued – 5th December 2024PreviewBitcoin has surpassed $100,000 for the first time after President-elect Donald Trump nominated crypto-friendly Paul Atkins as SEC chair. This fueled a $1.3 trillion crypto market rally. Bitcoin ETFs have drawn $8 billion in inflows,...
Daily Synopsis of the New York market close
Date Issued – 4th December 2024PreviewFrance faces deepening political and economic challenges as Prime Minister Michel Barnier’s government nears collapse over austerity disputes, denting business confidence and raising concerns about economic fragility, though fears of a...