Global Markets
Canada:
- Main Stock Index Performance: Surged
- Driver: Sharp rise in gold prices
- Details: The increase in gold prices significantly boosted mining and resource-related stocks, aligning with Canada’s rich natural resource sector.
United States:
- Stock Indexes Performance: Heavily mixed
- NASDAQ: Deep into the red
- Driver: US inflation data
- Details: The mixed performance reflects varied investor reactions to the latest US inflation data, which saw its first drop since May 2020, influencing different sectors unevenly and particularly impacting tech-heavy NASDAQ.
Europe:
- Shares Performance: Extended gains
- Driver: Upbeat earnings updates
- Details: Continued positive earnings reports have bolstered investor confidence, leading to sustained gains across European stock exchanges.
Japan:
- Nikkei Performance: Surged to an all-time high, crossing 42,000 points for the first time
- Driver: Solid investor sentiment
- Details: Strong investor sentiment, backed by favorable economic conditions and corporate performance, pushed Japan’s Nikkei index to a record high.
Commodities:
- Gold Prices Performance: Climbed
- Driver: Weaker U.S. dollar
- Details: The rise in gold prices was supported by a weaker U.S. dollar, making gold more attractive to investors holding other currencies.
- Oil Prices Performance: Edged up
- Drivers: Mixed signals from the International Energy Agency (IEA) and U.S. consumption data
- Details: Oil prices saw a modest increase as investors balanced the IEA’s bleaker demand growth outlook with rising U.S. consumption data, leading to cautious optimism in the oil markets.