Wednesday 29 May 2024 7:09 am

The latest updates on the financial markets around the world have been quite eventful. Here are some key highlights:

– In the US, the stock market had a mixed performance, with the Dow Jones down 0.55%, the S&P 500 slightly up by 0.02%, and the Nasdaq Composite rising 0.59%. Tech stocks led gains in the S&P 500.

– In Asia, US stock index futures remained stable, with most tech groups ending the day on a positive note. Nvidia’s strong performance boosted chip stocks.

– Apple shares rose initially on increased iPhone sales in China but later declined. GameStop shares surged after a capital raise announcement, while Hess shareholders approved a merger with Chevron.

– Australia’s ASX 200 dropped 1.2% post-inflation data, and Japanese stocks saw declines due to mixed signals from the Bank of Japan.

– Gold prices dipped as investors reconsidered Fed rate cut expectations, while oil prices rose as traders expected ongoing production cuts by major producers.

– Australia grappled with surging inflation in April, with the consumer price index hitting 3.6%, exceeding the forecast. The IMF raised China’s growth forecast for this year but urged a review of certain industrial policies.

– This week’s economic highlights include revised US first-quarter GDP figures, India’s fourth-quarter GDP figures, and the release of the core PCE price index, the US Fed’s preferred inflation measure.

Overall, the global financial markets are experiencing a mix of ups and downs, influenced by various economic indicators and geopolitical events. Stay tuned for more updates on the evolving market trends.