As trading commences on Tuesday, November 12, 2024, investors will be scrutinizing a fresh batch of economic data. The focus remains on U.S. consumer price inflation data on Wednesday, and a slew of speeches by Federal Reserve officials this week, including Fed Chair Jerome Powell on Thursday.
ASIA/PACIFIC
-The Australian stock market closed in the red on Tuesday, dragged down by mining stocks which declined sharply for a second day.
-Asia fell with Chinese and Hong Kong markets leading losses as investors were exercising caution.
– Asia-Middle East investment ties could reshape global capital flows, Zaywa reported citing Julian Wentzel, Head of Global Banking, MENAT, HSBC.
. EUROPE
– European stock markets opened with losses on Tuesday and ended the session with losses as investors assessed the latest quarterly earnings reports.
-German inflation rose 2.4% in October, while the UK’s unemployment rate rose to 4.3% in the third quarter, adding to concerns about economic stability.
-Bank of England Chief Economist Huw Pill told the UBS European conference in London that further rate cuts are likely, but gradual.
. AMERICAS
North America
– U.S. stocks fell during Tuesday’s session as the market took a breather from its postelection rally.
Latin America
-Colombia plans to submit its formal entry letter to the BRICS Bank by mid-November 2024.
-Peru hosts the Asia-Pacific Economic Cooperation (APEC) Economic Leaders’ Meeting.
. AFRICA
-The Central Bank of Egypt (CBE) received 30 bids totalling $1.739bn to cover a local treasury bill (T-bill) auction denominated in US dollars, Daily News Egypt reported.
-Nigerian businesses continue to be strained by economic challenges such as high inflation and interest rates coupled with instability of the Naira in the foreign exchange market, a NESG report reveals.
-Uganda boosts trade with Tanzania, DRC amid persistent tiffs with Kenya, the East African reported.
. MIDDLE EAST
-Most stock markets in the Gulf fell in early trade on Tuesday and ended the day lower, tracking losses in oil prices.
-Trump victory will boost Emerging Markets equities in Middle East, North African region, J.P.Morgan analysts said on Tuesday.
-Oman has issued OMR 48 million ($124 million) in new treasury bills (T-bills) at interest rates between 4.12360% and 4.59914%.
. COMMODITIES
GOLD
Spot gold rose 0.2% at $2,624.17 per ounce by 0155 GMT, while U.S. gold futures rose 0.5% to $2,630.10.
SILVER-PLATINUM-PALLADIUM
Spot silver was little changed at $30.70 per ounce, platinum lost 0.2% to $962.80 and palladium
was flat at $980.34.
OIL
Brent crude futures fell 1 cent to $71.82 a barrel, by 0158 GMT. U.S. West Texas Intermediate crude futures were at $68.07 a barrel, up 3 cents.
TODAY’S MARKET DATA SNAPSHOT
STOCK INDEX – PRICE – CHANGE
| ASX200 | 8,255.60 | -0.13% |
| NIKKEI | 39,376.09 | -0.40% |
| NIFTY50 | 23,883.45 | -1.07% |
| HSI | 19,846.88 | -2.84% |
| SSE | 3,421.97 | -1.39% |
| DAX | 19,033.64 | -2.13% |
| FTSE | 8,025.77 | -1.22% |
| CAC | 7,226.98 | -2.69% |
| FTSE MIB | 33,607.14 | -2.15% |
| STOXX600 | 502.23 | -1.98% |
| DJIA | 43,910.98 | -0.86% |
| S&P 500 | 5,983.99 | -0.29% |
| NASDAQ | 19,281.40 | -0.09% |
