Asia Up, Europe Markets Slip, Dollar Under Pressure On Increased Risk Appetite - Global Markets Today While US Slept

On Tuesday, June 24, U.S. markets closed higher as investors responded positively to a ceasefire between Israel and Iran and awaited signals from the Federal Reserve. The Nasdaq 100 reached a record close, and the S&P 500 neared its previous peak.

Tech shares led the rally, while energy stocks slipped on lower oil prices. Fed Chair Powell emphasized a cautious approach to rate cuts, with weakening consumer confidence adding to expectations for future easing.

In economic data, the U.S. current account deficit jumped 44% to $450.2 billion in Q1, above the prior $312 billion and slightly above forecasts. Meanwhile, home price growth slowed, with the S&P Case-Shiller Index rising 3.4% in April, down from 4.1% in March.

Most S&P 500 sectors ended higher on Tuesday, led by tech, communication services, and financials. Energy stocks declined, bucking the trend.

The Dow rose 1.19% to 43,089.02, the S&P 500 was up 1.11% to 6,092.18, and the Nasdaq gained 1.43% to 19,912.53.

Asia Markets Today

On Wednesday, Japan’s Nikkei 225 closed 0.40% higher at 38,946.00, led by gains in the Real Estate, Banking, and Textile sectors.

Australia’s S&P/ASX 200 was up 0.04% at 8,559.20, led by gains in the Financials, Consumer Discretionary and Utilities sectors.

India’s Nifty 50 was up 0.80% at 25,244.05, and the Nifty 500 gained 0.79% to 23,295.80.

China’s Shanghai Composite was up 1.01% at 3,455.97, and Shanghai Shenzhen CSI 300 rose 1.44% to 3,960.07.

Hong Kong’s Hang Seng closed the session 1.23% higher at 24,474.67.

Eurozone at 05:45 AM ET

The European STOXX 50 index was down 0.13%.

Germany’s DAX index declined 0.33%.

France’s CAC 40 slid 0.06%.

U.K.’s FTSE 100 index traded lower by 0.01%.

Commodities at 05:45 AM ET

Crude Oil WTI was trading higher by 1.27% at $65.19/bbl, and Brent was up 1.12% at $66.92/bbl.

Oil prices rose over 1% as U.S. demand remained firm, and a fragile ceasefire eased supply fears. Expectations of Fed rate cuts also supported the market’s demand outlook.

Natural gas fell 0.03% to $3.654.

Gold traded higher by 0.11% to $3,337.12, Silver slid 0.21% to $35.658, and Copper gained 0.24% to $4.8840.

Gold prices inched higher Wednesday as a weaker dollar offered support, offsetting pressure from easing geopolitical tensions after the Israel-Iran ceasefire. Other metals also rose slightly on a softer dollar.

U.S. Futures

At 05:45 AM ET, the Dow Jones futures fell 0.07%, the S&P 500 declined 0.02%, and the Nasdaq 100 was up 0.06%.

Forex

At 05:45 AM ET, the U.S. Dollar Index gained 0.12% to 98.10, USD/JPY was up 0.50% to 145.66, and USD/AUD slid 0.08% to 1.5398.

The dollar hovered near a four-year low against the euro as easing oil prices and a shaky Middle East truce reduced inflation fears, boosting rate-cut hopes and risk appetite.

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