• Tue. May 28th, 2024

Global Markets Rebound: Asia, US, and Commodities Surge in Unison

BySamantha Nguyen

May 16, 2024
European stocks decline as Japanese economy contracts more than forecasted

In Asia, stocks surged overnight as the Nikkei rose 1.4% in Japan and the Hang Seng climbed 1.5% in Hong Kong. The Shanghai Composite was also up by 0.1% at the end of the session. Meanwhile, US Treasury yields fell to six-week lows, helping to strengthen the yen despite a contraction in the Japanese economy that was more than expected in the first quarter.

On Wall Street, there was a surge to all-time highs due to milder US inflation, which led to expectations of two interest rate cuts from the Federal Reserve this year. All three major indexes reached record levels, with the S&P 500 jumping 1.2%, the Dow Jones gaining 0.9%, and the Nasdaq Composite advancing 1.4%.

The dollar weakened against other currencies like the euro and sterling, while gold prices began to approach record levels. Crude oil also saw gains after bouncing back from a two-month low.

By Samantha Nguyen

As a content writer at newsqwe.com, I am passionate about crafting engaging and informative articles that captivate our audience. With a background in journalism and a keen eye for detail, I strive to deliver content that is not only well-researched but also adds value to our readers' lives. From breaking news stories to in-depth features, I take pride in my ability to tell compelling stories that resonate with our diverse audience. When I'm not typing away at my keyboard, you can find me exploring new cafes, practicing yoga, or getting lost in a good book. I am thrilled to be a part of the newsqwe.com team and look forward to sharing my love for writing with all of our readers.

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