Today's News Update - 7th March 2024 Asia Japan's Nikkei 225 index achieved a new record high on Thursday, opening 0.8% higher and surpassing its previous peak of 40,314.64. The broader Topix also experienced a 0.6% gain, reaching a record high. This development followed comments from U.S. Federal Reserve Chair Jerome Powell, who reiterated the central bank's position that while rate cuts could be on the horizon, they were not immediately imminent. In Australia, the S&P/ASX 200 rose by 0.26%, setting a new record high. South Korea's Kospi climbed by 0.42%, and the Kosdaq edged up by 0.1%. Futures for Hong Kong's Hang Seng index indicated an opening at 16,565, surpassing the HSI's previous close of 16,438.09 and suggesting a continuation of Wednesday's nearly 2% gain. US Stock futures showed a slight decline in overnight trading after the major averages secured their first winning session in three days. Dow Jones Industrial Average futures dipped 47 points (0.1%), S&P 500 futures edged down by 0.1%, and Nasdaq-100 futures slid 0.2%. In extended trading, Victoria’s Secret experienced a 25% plunge after releasing mixed quarterly results and offering disappointing guidance. The previous day saw gains across major averages, with the S&P 500 rising by 0.51%, the Nasdaq Composite adding approximately 0.6%, and the Dow Jones Industrial Average gaining nearly 76 points (0.2%). Notably, utilities led the upside among the nine of 11 major S&P sectors that finished higher. Apple faced a sixth consecutive day of decline, accumulating weekly losses of nearly 6%. Commodity On Wednesday, crude oil futures experienced an increase as Federal Reserve Chair Jerome Powell suggested that interest rates would likely decrease this year, albeit with cautious steps. The West Texas Intermediate contract for April gained 98 cents (1.25%), settling at $79.13 a barrel, while May Brent futures added 92 cents (1.12%), closing at $82.96 a barrel. Meanwhile, gold continued its rally to a record high, propelled by strong momentum driven largely by expectations of U.S. monetary easing. Spot gold gained 0.8%, reaching $2,145.49 per ounce after hitting an all-time high of $2,152.09 earlier in the session. U.S. gold futures settled 0.8% higher at $2,158.2. Additionally, silver saw a 1.9% increase, reaching $24.15. 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