Tue, 05 Dec 2023

NEW YORK, New York - Bond prices surged on Tuesday as safe-haven investors swamped the Treasury market yields fell sharply, pushing the dollar down, and stocks up.

"I think that move lower in yields has supported equity markets broadly. It may also be bringing relief to markets that perhaps there is some sort of peak in this rapidly upward moving yield in the last few weeks," Mona Mahajan, Edward Jones senior investment strategist told CNBC Tuesday. "There's the kind of hope building that perhaps we are at the end of the Fed tightening cycle, as well as the rising rates."

S&P 500 (New York Stock Exchange): The Standard and Poor's 500 gained 22.58 points, or 0.52 percent, settling at 4,358.24. The positive momentum was driven by robust economic data and an easing of long-term U.S. Treasury yields. Market sentiment remained buoyant as corporate earnings season kicked off on a positive note.

Dow Jones Industrial Average (New York Stock Exchange): The Dow Jones Industrial Average climbed 134.65 points, or 0.40 percent, to reach 33,739.30. The blue-chip index saw gains across various sectors, with particular strength in technology and healthcare stocks. Improved consumer confidence and a stronger job market contributed to the optimism.

NASDAQ Composite (New York Stock Exchange): The tech-heavy NASDAQ Composite index advanced 78.60 points, or 0.58 percent, closing at 13,562.84. Tech giants, in particular, performed well, with investors showing renewed interest in growth-oriented stocks. The index's performance reflects the sector's resilience in the face of recent market volatility.

Market participants are cautiously optimistic about the days ahead, keeping a close watch on economic indicators, inflation data, and ongoing geopolitical developments. The strong gains on Tuesday signal that investor sentiment remains positive, despite lingering uncertainties in the global economy.

Trading volumes were robust across the board, with the New York Stock Exchange recording 2.124 billion shares traded.

U.S. Dollar Sees Further See-Off on Global Foreign Exchange Markets

On Tuesday, the world's foreign exchange markets witnessed major moves in currency exchange rates, as the dollar came under pressure from qll quarters. Here are the latest foreign exchange rates for the major currency pairs:

EUR/USD (Euro/US Dollar): The euro to U.S. Dollar exchange rate stood at 1.0604, showing a modest increase of 0.36 percent, equivalent to a gain of 0.0038.

USD/JPY (US Dollar/Japanese Yen): The Japanese Yen exchange rate was at 148.67, marking a slight increase of 0.12 percent, equivalent to a gain of 0.18.

USD/CAD (US Dollar/Canadian Dollar): The Canadian Dollar exchange rate closed at 1.3578, representing a minor increase of 0.08 percent, or 0.0011.

GBP/USD (British Pound/US Dollar): The British poundsurged to 1.2284, posting an increase of 0.38 percent, or 0.0046.

USD/CHF (US Dollar/Swiss Franc): The Swiss Franc exchange rate stood at 0.9045 in late tradign Tuesday, showing an increase of 0.22 percent, or 0.0020.

AUD/USD (Australian Dollar/US Dollar): The Australian dollar rose to 0.6427, marking a gain of 0.27 percent, or 0.0017.

NZD/USD (New Zealand Dollar/US Dollar): The New Zealand Dollar exchange rate stood at 0.6044, posting an increase of 0.37 percent.

Global Stock Markets See Positive Gains on Tuesday

In a day marked by optimism and strong performances, global stock markets experienced significant gains on Tuesday. Investors were buoyed by positive economic indicators, easing U.S. Treasury yields, and encouraging corporate earnings reports. Here's a look at some of the key stock market quotes from around the world:


S&P/TSX Composite Index (Toronto Stock Exchange): North of the border, the S&P/TSX Composite Index gained 255.13 points, or 1.33 percent, closing at 19,501.20. Canadian equities enjoyed a boost from rising commodity prices, especially in the energy and materials sectors. Stronger-than-expected economic data also contributed to the index's impressive performance.


FTSE 100 (UK): The FTSE 100 index closed at 7,628.21, marking an impressive increase of 136.00 points, equivalent to a gain of 1.82 percent.


DAX PERFORMANCE-INDEX (Germany): Germany's DAX PERFORMANCE-INDEX surged to 15,423.52, reflecting a remarkable gain of 295.41 points, or 1.95 percent.

CAC 40 (France): The CAC 40 index in France closed at 7,162.43, posting a substantial increase of 141.03 points, or 2.01 percent.

ESTX 50 PR.EUR (Eurozone): The ESTX 50 PR.EUR index in the Eurozone closed at 4,205.23, reflecting a substantial gain of 92.66 points, equivalent to an increase of 2.25 percent.

Euronext 100 Index (Eurozone): The Euronext 100 Index closed at 1,330.16, posting a gain of 26.13 points, or 2.00 percent.

BEL 20 (Belgium): In Belgium, the BEL 20 index gained 60.89 points, closing at 3,540.94, representing an increase of 1.75 percent.


MOEX Russia Index (Russia): Russia's MOEX Russia Index experienced a slight dip, closing at 2,222.51, down 4.14 points, or 0.19 percent.


Nikkei 225 (Japan): Japan's Nikkei 225 index performed exceptionally well, closing at 31,746.53, which represented a remarkable gain of 751.86 points, equivalent to a surge of 2.43 percent.

HANG SENG INDEX (Hong Kong): The HANG SENG INDEX in Hong Kong closed at 17,664.73, registering a solid gain of 147.33 points, or 0.84 percent.

SSE Composite Index (China): In China, the SSE Composite Index closed at 3,075.24, showing a slight decline of 21.69 points, equivalent to a decrease of 0.70 percent.

Shenzhen Index (China): The Shenzhen Index also experienced a decrease, closing at 10,050.04, down 56.92 points, or 0.56 percent.

STI Index (Singapore): The STI Index in Singapore gained 32.56 points, closing at 3,199.07, marking an increase of 1.03 percent.

S&P BSE SENSEX (India): In India, the S&P BSE SENSEX index closed at 66,079.36, gaining 566.97 points, or 0.87 percent.

NIFTY 50 (India): India's NIFTY 50 index meantime gained 177.50 points, closing at 19,689.85, marking an increase of 0.91 percent.

IDX COMPOSITE (Indonesia): The IDX COMPOSITE index in Indonesia gained 30.73 points, closing at 6,922.19, marking an increase of 0.45 percent.

FTSE Bursa Malaysia KLCI (Malaysia): Malaysia's FTSE Bursa Malaysia KLCI index gained 17.91 points, closing at 1,435.17, reflecting an increase of 1.26 percent.

KOSPI Composite Index (South Korea): The KOSPI Composite Index in South Korea closed at 2,402.58, marking a slight decrease of 6.15 points, or 0.26 percent.

TSEC weighted index (Taiwan): Taiwan's TSEC weighted index gained 67.07 points, closing at 16,520.57, representing an increase of 0.41 percent.


ALL ORDINARIES (Australia): The Australian ALL ORDINARIES index gained 74.00 points, closing at 7,231.00, showing an increase of 1.03 percent.

S&P/ASX 200 (Australia): Australia's S&P/ASX 200 index meanwhile gained 70.40 points, closing at 7,040.60, marking a solid increase of 1.01 percent.

S&P/NZX 50 INDEX GROSS (New Zealand): In New Zealand, the S&P/NZX 50 INDEX GROSS closed at 11,293.38, gaining 88.32 points, or 0.79 percent.


Top 40 USD Net TRI Index (South Africa): South Africa's Top 40 USD Net TRI Index performed exceptionally well, closing at 3,838.48, posting an impressive gain of 186.81 points, or 5.12 percent.


TA-125 (Israel): The TA-125 index in Israel was sharply higher as Israel regained the offensive in its war with Hamas. The key index jumped 24.92 points, closing at 1,771.83, for an increase of 1.43 percent.

EGX 30 Price Return Index (Egypt): Egypt's EGX 30 Price Return Index, indicating the Mideast region is not adversely impacted by the events in Israel and Gaza, gained 314.50 points, closing at 19,724.30, reflecting an increase of 1.62 percent, with a trading volume of 132.994 million shares.

Overall, the global stock markets had a positive day, with several indices posting substantial gains, driven by favorable economic conditions and investor confidence. The positive momentum is expected to continue as markets remain optimistic about future prospects.

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