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Wall Street indexes closed yesterday’s session mostly higher, although weakness was evident in the Russell 2000 and the Dow Jones Industrial Average, where shares of Home Depot, Target, Walmart and Nike were down. As a result, the benchmark closed 0.8% lower. However, the S&P 500 Index gained nearly 0.4%, and the Nasdaq 100 rose nearly 1.2% on a 6% rebound in Nvidia stock prices

Wednesday News
  • Wall Street indexes closed yesterday’s session mostly higher, although weakness was evident in the Russell 2000 and the Dow Jones Industrial Average, where shares of Home Depot, Target, Walmart and Nike were down. As a result, the benchmark closed 0.8% lower. However, the S&P 500 Index gained nearly 0.4%, and the Nasdaq 100 rose nearly 1.2% on a 6% rebound in Nvidia stock prices
  • The APAC markets had a mostly upbeat session, except for Australia’s ASX index, which lost nearly 0.8% after higher-than-expected inflation data from Australia strengthened the Australian dollar
  • CPI inflation from Australia came in at 4%, compared to expectations of 3.8% versus 3.6% previously. The reading raised the chance of an RBA rate hike at the upcoming meeting to 51%, and yields on 10-year government bonds climbed above 4.3%. The inflation reading from Australia was the highest since November 2023
  • China’s stock indexes rose slightly, with the mainland CSI up nearly 0.3% and the Hang Seng slightly weaker – the Hong Kong-listed stock index rose less than 0.2%. South Korea’s KOSPI rose 0.5%, and India’s Sensex rose 0.3%, reaching new historic highs
  • Japanese benchmarks – Nikkei and Topix fared quite well with 1.2% and 0.4% gains, respectively. Share prices of companies related to the semiconductor segment rose; among others, Tokyo Electron
  • Gold futures are trading a slight 0.1% retreat, while silver contracts are gaining 0.4%. Brent and Texas WTI crude oil are trading nearly 0.5% higher, and natural gas prices are roughly flat. Small 0.6% increases are seen in corn, wheat and soybean contracts
  • The U.S. dollar is making slight gains at the start of the week; USDIDX is trading up a small 0.04%, while the Eurodollar is retreating 0.05% and is trading near 1.0707
  • Bitcoin is still trading in the area of $61,500, and Ethereum has failed to stay above $3,400. Most small cryptocurrencies are trading down slightly today
  • Interest in gold among ETFs has weakened, according to data from the World Gold Council. Although positive inflows were observed last week, especially from North America, it was at the same time the smallest weekly change since December 2023
  • Germany’s Commerzbank sees limited short-term growth potential for gold because of less interest from speculators and investors, and that US rate cuts are not likely to take place until the end of the year

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