Share Direct

International Market Update

Good morning,

U.S. stock benchmarks ended sharply higher Tuesday, with the S&P 500 exiting correction territory, buoyed by optimism over negotiations on a cease-fire in Ukraine and a decline in some commodity prices. The Dow Jones rose 338.30 points, or 1%, to close at 35,294.19, rising for a fourth straight day. The S&P 500 gained 56.08 points, or 1.2%, to finish at 4,631.60 as the index rose for a fourth straight day. The Nasdaq Composite climbed 264.73 points, or 1.8%, to end at 14,619.64, booking gains for a second consecutive day. U.S. gold futures dropped 1.5% to $1,910.70.

The pan-European Stoxx 600 closed up by 1.7%, with autos soaring 5.9% to lead the gains as all sectors traded in positive territory except basic resources and oil and gas, which fell 2.2% and 1.9% respectively.

Asia-Pacific stocks were mostly higher Wednesday as investors watch for developments surrounding the war in Ukraine. Tencent was last up 1.59% in HK. Brent crude futures were up 0.81% to $111.12 per barrel.

U.S. and European stock futures are currently a tad lower.

Morning Market Update

Good morning,

U.S. stocks finished mostly lower on Monday as investors weighed the 19th day of military hostilities in Ukraine and awaited the start of a crucial gathering of the Federal Reserve, with the first rate hike in about four years expected on Wednesday. The Dow Jones finished nearly flat at around 32,945, aided by a rally in American Express Corp. The S&P 500 closed down 0.7% at 4,173, weighed by declines in energy down 2.9% and information technology off 1.9%. Nasdaq Composite lost 2.04% to end around 12,581. The 10-year Treasury yield hit 2.145%, its highest level since July 2019. U.S. gold futures fell 0.5% to $1,951.20.

The pan-European Stoxx 600 ended up around 1.2%, with autos and banks jumping over 3.2% to lead gains while mining stocks fell 2.5%.

Shares in China lagged among Asia-Pacific markets on Tuesday, though some losses were pared following the release of Chinese economic data that was above expectations. Chinese industrial output rose 7.5% year-on-year in January and February. Retail sales in China also beat expectations for the first two months of the year, gaining 6.7%. Oil prices dropped in the afternoon of Asia trading hours on Tuesday, with Brent crude futures slipping 4.05% to $102.57 per barrel.

U.S. stock futures are currently slightly higher while European futures are a tad lower.