• Thu. Feb 29th, 2024

Global Markets Recap: Chinese New Year Shuts Down Trading; US Markets Up, Oil Prices Fluctuate; Unemployment and Inflation Data Released Today


Feb 13, 2024
Japanese Nikkei Index Surges 3% and Sets New Record

The Chinese stock markets are closed on Tuesday for the Chinese New Year. In Japan, the Nikkei is up about 3% and trading at a new record high of 38,000. The Kospi index rises by 0.8%. US futures are trading slightly lower this morning.

On Wall Street, the Nasdaq fell by 0.3%, the S&P500 lost 0.1% and the Dow Jones added 0.3%, breaking an all-time high. The Israeli company Beamr saw its stock price jump by 7.5% after Piper Sandler upgraded their recommendation from ‘neutral’ to ‘overweight’.

In the US government debt market, the two-year bond yield was around 4.47%. Meanwhile, oil prices are trading slightly higher with a Brent barrel costing $82 at this time. Dr. Michael Bafman predicted that volatility in oil prices will remain relatively high due to security events in the Middle East in his review for Bank Leumi.

Today, unemployment data in Great Britain and consumer price index data in Switzerland are set to be published while inflation data in the USA is expected to be released at 15:30 Israel time. It’s worth noting that our Globes system aims for a diverse and respectful discourse as per our code of ethics report that we operate by filtering out any expressions of violence, racism or incitement that do not align with these values and will not be published on our site.

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