Morning wrap (26.03.2024)

7:34 AM 26 March 2024
  • Wall Street indices traded mostly lower yesterday - S&P 500 dropped 0.31%, Dow Jones moved 0.41% lower and Nasdaq declined 0.27%. Small-cap Russell 2000 traded flat
  • Indices from Asia-Pacific traded mixed today - Nikkei gained 0.1%, S&P/ASX 200 dropped 0.4%, Kospi jumped 0.7% and Nifty 50 dropped 0.2%. Indices from China traded up to 1.2% higher
  • DAX futures point to a flat opening of the European cash session
  • China-operated tanker carrying Russian oil was hit by Yemen's Houthis in spite of the militia group reaching agreement with Russia and China not to attack their vessels
  • According to AP news, clashes between Chinese and Philippines coast guard ships in the South China Sea increase risk of confrontation between China and US, a key Philippine ally
  • Morgan Stanley expects four rate cuts from Federal Reserve this year, with the first one coming in June
  • Japan finance minister Suzuki said that he won't rule out any steps to respond to disorderly moves on the FX market
  • According to Reuters report, Russia is ordering to cut output to meet OPEC+ target. Report also says that Russia plans to gradually ease exports cuts and focus on reducing output
  • According to media reports, Nilam Resources, South American gold miner, wants to buy 24,800 Bitcoin
  • Japanese services PPI inflation stayed unchanged at 2.1% YoY in February
  • Cryptocurrencies trade higher with Bitcoin holding above $70,000 mark
  • Energy commodities trade little change, with WTI and US natural gas prices dropping around 0.1%
  • Precious metals trade little changed as well - gold and palladium trade flat, silver drops 0.2% and platinum gains 0.2%
  • GBP and NZD are the best performing major currencies while CHF and USD lag the most
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