Daily Digest: Thursday 18th April
USA
Market direction was somewhat mixed through Thursday. The Nasdaq 100 ($NDX) closed 99.31 points (0.57%) down at 17,394.31, while the S&P 500 ($SPX) fell 11.09 points (0.22%) to 5,011.12. The Dow ($INDU) was the only of the three major indexes noted to close in the black, rising 22.07 points (0.06%) to 37,775.38.
Rest of the World
The Japanese benchmark index, the Nikkei 225 (¥N225), ended a three day losing streak, rising 117.9 points (0.31%) to 38,079.70. Traders managed to break above the 38,000 level during Thursday afternoon, a level which was later used as a support to push intraday highs of 38,216. This move comes as a welcome relief for investors, as the index was trading at its lowest point since February.
The Japanese Yen managed to strengthen against the US dollar through Wednesday evening. Although the pair remains significantly above the 152 level, trading at 154.423 as of 11:11 GMT. A small appreciation of the Yen, against market direction may be short lived, as traders maintain a cautious outlook on portfolio positioning due to ongoing tensions in the Middle East. Any escalations of such would likely trigger significant capital inflows into the US dollar, as investors seek relative safety in the Worlds reserve currency, which can be used to park capital in risk free treasury assets.
The Shanghai Stock Exchange Composite Index (¥SSE) managed to close higher for a second consecutive session, rising 2.84 points (0.09%) to 3,074.22.
Indian traders returned to their desks on Thursday, following yesterday’s bank holiday. The Nifty 50 (₹NSEI) closed 152.05 points (0.69%) lower at 21,995.85, with the index pushing below the 22,000 level for the first time since the end of March.
Commodities
WTI crude prices ended a three session losing streak, rising 0.05% to $82.25 per barrel. Investor sentiment remains driven by global geopolitics, with possible escalations across the Middle East the centre of supply concerns. Similarly, Gold prices were also driven by the same catalysts, rising 0.29% to $2,395.40 per ounce.
Sources:
https://uk.finance.yahoo.com/world-indices/
https://uk.finance.yahoo.com/commodities
https://www.londonstockexchange.com/indices/ftse-100
https://www.binance.com/en-GB/price/bitcoin
https://www.binance.com/en-GB/price/ethereum
https://qontigo.com/index/sxxp/
Stock Market Activity Today & Latest Stock Market Trends | Nasdaq
https://coinmarketcap.com/charts/#market-cap
https://www.forexfactory.com
Definitions:
YoY - Year on Year, or, Year over Year
MoM - Month on Month, or, Month over Month
QoQ - Quarter on Quarter, or, Quarter over Quarter
ECB - European Central Bank
BOJ - Bank of Japan
Fed - Federal Reserve
BOE - Bank of England
SNB - Swiss National Bank
DOJ - Department of Justice