Today's News Update - 24th April 2024 Asia Asia-Pacific markets mostly continued their upward trend from Monday as tech shares rebounded on Wall Street and investors analyzed flash business activity data from Australia, Japan, and India. S&P Global's data showed that Australia's composite purchasing managers index reached a two-year high, hitting 53.6 compared to March's 53.3. Hong Kong's Hang Seng index surged nearly 2%, leading gains in the region. Japan's Nikkei 225 rose by 0.3%, closing at 37,552.16, while the broader Topix index increased by 0.14% to 2,666.23. The S&P/ASX 200 in Australia advanced by 0.45% after the PMI release, ending the day at 7,683.5. US Stocks surged for a second consecutive day on Tuesday, as robust corporate earnings eased concerns about higher interest rates. The Dow Jones Industrial Average rose by 263.90 points, or 0.69%, while the S&P 500 gained 1.2% and the Nasdaq Composite ticked up 1.59%. Spotify saw a remarkable 11% surge after surpassing Wall Street's first-quarter estimates and providing optimistic guidance for the second quarter. Tesla is scheduled to report earnings after the closing bell, with Meta Platforms following suit on Wednesday afternoon. Approximately 20% of the S&P 500 companies have reported earnings through Tuesday, with 76% of them surpassing analysts' expectations, as per FactSet data. Commodity Gold prices stabilized on Tuesday after reaching a low not seen in over two weeks, as concerns about escalating tensions in the Middle East subsided. Spot gold remained relatively unchanged at $2,327.50 per ounce, having previously touched its lowest level since April 5. The rally in gold from March to April propelled it by nearly $400 to reach an all-time high of $2,431.29 on April 12. On the other hand, U.S. crude oil surged by almost 2% on Tuesday, surpassing $83 per barrel. This uptick was fueled by optimism stemming from weak manufacturing data, which could prompt faster interest rate cuts. The S&P Global Flash U.S. Composite PMI reported that U.S. manufacturing activity dropped to a four-month low of 49.9 in April. A reading below 50 indicates a contraction in activity levels. The above analysis is only for the views of market researchers and is for reference only and is not Regarded as a specific investment suggestion. #Forex #trading #tradingforex