How the US stock market rocketed through the Q1?
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The US stock market has had a strong start in 2024, with the S&P 500 climbing over 10% in the first quarter, its biggest gain since 2019. The Nasdaq Composite also reached a record high in late February. Investors are optimistic about the economy, with two-thirds of fund managers predicting a 'soft landing' and only 11% projecting a 'hard landing'. The dovish Federal Reserve meeting and rising confidence in artificial intelligence have contributed to the market's success. While tech and growth stocks performed well in 2023, this year has seen a broader rally with sectors like tech, communication services, energy, financials, and industrials outperforming the S&P 500. Some megacap companies, like Nvidia and Meta Platforms, have seen significant gains, while others, like Apple and Tesla, have faced challenges. Overall, the stock market's positive performance has led to higher valuations and increased risk appetite.

#UsStockMarket #S&p500 #NasdaqComposite #Economy #InterestRateCuts #ArtificialIntelligence #Investors #FederalReserve #TechStocks #MegacapCompanies

https://www.brecorder.com/news/40296371


Brazil’s public debt up 2.25pc in February
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Brazil’s federal public debt increased 2.25% in February to 6.595 trillion reais ($1.32 trillion). The month was marked by a sharp rise in global interest rates, driven by persistent inflationary pressures and the strength of the US economy. The average interest rate on domestic federal debt issuances decreased from 11.56% in January to 11.51% in February. The country’s domestic debt accounts for 95.8% of the total. The Treasury’s liquidity reserve rose to 885.10 billion reais from 813.24 billion reais the month before.

#Brazil #PublicDebt #Treasury #InterestRates #Inflation #Economy

https://www.brecorder.com/news/40296363


HK stocks fall, China up after cenbank leaves key rate unchanged
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Hong Kong shares declined while China stocks edged up on Friday after China’s central bank left a key policy rate unchanged. Hong Kong’s benchmark Hang Seng closed down 1.4%, and the Hang Seng China Enterprises Index lost 1.5%. China’s Shanghai Composite Index edged up 0.2%, while the blue-chip CSI 300 Index gained 0.5%. China’s central bank left the one-year medium-term lending facility rate unchanged while withdrawing cash from a medium-term policy loan operation. China’s new home prices dropped for an eighth straight month in February, official data showed. The CSI 300 Real Estate Index lost 0.9%, and the Hang Seng Mainland Properties Index slumped 1.9. Tech giants listed in Hong Kong also lost 1.5%.

#HongKong #China #Stocks #CentralBank #InterestRates #HomePrices #RealEstate #TechGiants

https://www.brecorder.com/news/40293867


Economic policy over next several months crucial for Pakistan: US Ambassador
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US Ambassador to Pakistan Donald Blome emphasizes the importance of economic policy in the next several months for Pakistan. He states that Pakistan has made progress in confronting challenges but remains vulnerable to shocks. Blome encourages the new government to work with the International Monetary Fund (IMF) on reforms that make sense for Pakistan and help break the cycle of indebtedness. He believes that economic reforms will build certainty and confidence among investors and enable economic growth fueled by sustainable foreign direct investment (FDI). Blome also highlights the potential for increased trade and investment between the US and Pakistan, but notes that US firms are wary of volatility and inconsistency in policy. He urges Pakistan to prioritize an aggressive approach to attracting FDI and take advantage of the dynamic moment in global investment and trading patterns. Blome expresses confidence in Pakistan's ability to break free from an over-reliance on unsustainable debt.

#Pakistan #UsAmbassador #EconomicPolicy #Reforms #Imf #Investors #ForeignDirectInvestment #Trade #Investment #Debt

https://www.brecorder.com/news/40291985


Asia stocks nudge higher, dollar steady ahead of US inflation report
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Asian stocks inched higher and the dollar held steady on Tuesday ahead of a key U.S. inflation report that could help shape the Federal Reserve’s rates outlook and determine the timing of interest rate cuts. Bitcoin crossed $50,000 for the first time in over two years. MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.15% higher. Japan’s Nikkei rose 1.7% to hit a fresh 34-year high. China’s financial markets are closed for the Lunar New Year holiday. On Monday, the Nasdaq slipped in the afternoon session after briefly surpassing its record closing high from November 2021. The benchmark S&P 500 closed lower but remained just above the 5,000-point level it crossed on Friday. E-mini futures for the S&P 500 fell 0.16%. Investor attention this week will be on crucial reports on January’s U.S. Consumer Price Index (CPI) and Producer Price Index. Economists expect CPI to rise 2.9% on a year-on-year basis. Traders are pricing in a 13% chance of an easing in March. The yield on 10-year Treasury notes was at 4.172%. The dollar index was little changed at 104.16. The Japanese yen was last at 149.38 per dollar. U.S. crude rose 0.03% to $76.94 per barrel and Brent was at $81.99, down 0.01% on the day.

#AsiaStocks #UsInflationReport #FederalReserve #InterestRateCuts #Bitcoin #Msci #Nikkei #LunarNewYear #Nasdaq #S&p500 #ConsumerPriceIndex #ProducerPriceIndex #TreasuryNotes #DollarIndex #JapaneseYen #CrudeOil

https://www.brecorder.com/news/40288602


Economic turmoil could worsen
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Moody’s Investor Services warns that timely announcement of election results is crucial for Pakistan facing economic challenges. The stock market and dollar-denominated government bonds have plunged. Concerns have been raised by the US, UK, Australia, and the EU about irregularities in the electoral process. Pakistan's major export market is the US, and a significant portion of remittances comes from Western countries. The reliance on commercial loans and debt equity is on the West. The ongoing political uncertainty may be tackled by getting independents to abandon ship or seeking a rapprochement with them. The country's rating agencies have not upgraded Pakistan, and domestic borrowing has reached unprecedented levels. Inflation and unemployment continue to erode the quality of life. The fragile state of the economy cannot withstand any turmoil.

#Pakistan #EconomicTurmoil #ElectionResults #StockMarket #GovernmentBonds #Irregularities #ExportMarket #Remittances #RatingAgencies #Inflation #Unemployment

https://www.brecorder.com/news/40288508


Asian markets mixed after Wall St record, Shanghai extends rally
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Asian markets were mixed following another record on Wall Street, with strong earnings and a resilient US economy playing against fading hopes for an early Federal Reserve interest rate cut. Fresh comments from US monetary policymakers pushing back against reducing borrowing costs too early were unable to overshadow a string of forecast-beating reports from top firms this season including Amazon and Facebook parent Meta. Shanghai extended its rally heading into the Lunar New Year break, building on almost five percent gains over the previous two days as investors cheered a number of pledges from Beijing to staunch a long-running rout. Hong Kong was dealt a blow lower by a more than six percent dive in market heavyweight Alibaba, which was hit by a worse-than-expected earnings report that overshadowed a huge stock buyback. Tokyo, Sydney, Seoul, and Manila saw gains, while Singapore, Mumbai, Bangkok, and Wellington dropped.

#AsianMarkets #WallStreet #FederalReserve #Shanghai #LunarNewYear

https://www.brecorder.com/news/40287925


Dollar slips as market awaits data
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The dollar slid further on Wednesday as it consolidates a bounce in recent days from surprisingly strong US economic data and pushback from Federal Reserve officials on market expectations of imminent interest rate cuts. The dollar eased from a nearly three-month high against the euro on Tuesday even as market bets on a rate cut by the Fed in March rebounded. Treasury yields, often a factor in the dollar’s strength when they draw foreign investment, also were lower. Analysts pointed to technical factors for the dollar’s pullback, following a two-day rally of as much as 1.4% against the euro after unexpectedly strong US jobs data, as well as more hawkish rhetoric from Federal Reserve Chair Jerome Powell, pummeled bets for a rate cut as soon as March.

#Dollar #UsEconomy #FederalReserve #InterestRateCuts

https://www.brecorder.com/news/40287856


UK shares climb on airlines, US tech bounce
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UK shares rose on Friday, with the FTSE 100 climbing 0.4% and the FTSE 250 adding 1.0%. The gains were driven by positive sentiment on Wall Street following upbeat earnings from technology giants Meta Platforms and Amazon.com. Wizz Air, a UK airline, reported a 14.2% increase in passenger traffic in January, leading to a 9.4% rally in its shares. Other airline stocks, such as EasyJet and British Airways-owner IAG, also saw gains. Traders are now awaiting monthly U.S. payroll data for clues on the rate trajectory after the Federal Reserve shot down market expectations of early interest rate cuts. The Bank of England's decision on interest rates also influenced UK equities during the week. Sainsbury and Tesco, two UK grocers, gained 2.8% and 2.1% respectively after being upgraded by Morgan Stanley. BP, an oil and gas company, slipped 2.0% after shutting down its Whiting, Indiana refinery due to a power outage.

#UkShares #Ftse100 #Ftse250 #WizzAir #Easyjet #Iag #MetaPlatforms #Amazon.com #FederalReserve #BankOfEngland #Sainsbury #Tesco #Bp

https://www.brecorder.com/news/40287040