Asian stocks had a mixed day as investors awaited earnings from chipmaker Nvidia Corp following a record close for the S&P 500. The MSCI Asia Pacific index traded in a narrow range, while European equity futures ticked higher. Bonds and currencies saw some movement, with the New Zealand dollar rising after the Reserve Bank of New Zealand hinted at potential interest rate cuts in 2025.
In commodities, gold held steady near a record high, while oil prices extended losses on increased stockpiles. Investors are also paying attention to volatility in the market, with expectations for Nvidia’s earnings report to potentially impact stock movements.
Key events this week include US existing home sales, Fed minutes, Eurozone economic data, and the G-7 finance meeting. In terms of stocks, S&P 500 futures were stable, while currencies saw minor fluctuations. Cryptocurrencies also experienced slight gains, while bond yields in the US, Japan, and Australia saw marginal increases. Oil prices dipped slightly, while gold remained near record levels.
Overall, investors are keeping an eye on various economic indicators and corporate earnings reports to gauge market sentiment and potential future movements.
Vocabulary List:
- Earnings (noun): Money obtained from laborservicesor business.
- Equity (noun): Ownership interest in a company in the form of common stock or preferred stock.
- Stockpiles (noun): A large supply of goods kept in reserve for future use.
- Volatility (noun): A tendency to change rapidly and unpredictably.
- Yields (noun): The income return on an investmenttypically in the form of interest or dividends.
- Indicators (noun): Factors that provide insight into the state or future development of a market or economy.
