Global Markets Recap: Chip Stocks Drag Down US, Asia Sees Mixed Performance
The US stock market closed in the red on Wednesday, October 30th, as declining chip stocks weighed heavily on investor sentiment. The Dow Jones Industrial Average dipped 0.22%, the S&P 500 declined 0.33%, and the Nasdaq Composite fell 0.56%. Despite the overall negative performance, there was some positive news in the tech sector. Microsoft and Meta both reported earnings after the market closed, exceeding revenue estimates. Alphabet also gained ground after surpassing third-quarter revenue and profit expectations earlier in the week.
In terms of economic data, the US economy grew at an annualized rate of 2.8% in the third quarter, slightly below the forecasted 3.0%. However, US private payrolls exceeded expectations, adding 233,000 jobs in October.
Asia Markets Today
Asian markets experienced a mixed performance on Thursday. Japan’s Nikkei 225 closed lower by 0.59%, led by losses in the Transportation Equipment, Rubber, and Pharmaceutical Industry sectors. Australia’s S&P/ASX 200 declined 0.25%, with losses in the Consumer Staples, Utilities, and Materials sectors.
India’s Nifty 50 traded lower by 0.42%, while the Nifty 500 was down 0.19%. In contrast, China’s Shanghai Composite rose 0.42%, and the Shenzhen CSI 300 gained 0.04%. Hong Kong’s Hang Seng declined 0.31%.
Eurozone at 06.00 AM ET
The European STOXX 50 index opened down 0.76% at the start of the trading day. Germany’s DAX declined 0.51%, France’s CAC fell 0.81%, and the UK’s FTSE 100 index traded lower by 0.71% early Thursday morning.
Commodities at 06.00 AM ET
Oil prices rose, extending a rally fueled by optimism about US fuel demand following unexpected drops in crude and gasoline inventories. Crude Oil WTI was trading higher by 0.38% at $68.87/bbl, and Brent was up 0.39% at $72.44/bbl.
Natural Gas fell 1.86% at $2.792. Gold was trading lower by 0.53% at $2,786.20, Silver declined 1.27% to $33.645, and Copper rose 0.02% to $4.3515.
US Futures at 06.00 AM ET
Dow futures were down 0.46%, S&P 500 futures fell 0.78%, and Nasdaq 100 Futures declined 1.05% early Thursday morning, indicating a potential continuation of the downward trend seen in the previous session.
Forex at 06.00 AM ET
The US dollar index slid 0.05% to 103.95. The USD/JPY was down 0.68% to 152.36, while the USD/AUD gained 0.07% to 1.5221.
This information is for general knowledge purposes only and does not constitute investment advice.
