Asia Markets Dip While Europe Advances, Gold Retreats

On Monday, February 24, the U.S. markets showed mixed results. The Nasdaq Composite fell due to declining technology stocks, driven by worries about AI demand ahead of Nvidia’s earnings report.

The S&P 500 dropped for the third consecutive session while the Dow slightly increased. Investors faced rising uncertainty as Microsoft announced cuts to its data centers, and weaker economic indicators heightened fears regarding slowing growth and ongoing inflation.

In economic updates, the Dallas Fed’s Texas manufacturing activity index plunged to -8.3 in February, down from 14.1 in January. Likewise, the Chicago Fed National Activity Index fell to -0.03 in January from a revised 0.18 in December.

Among the sectors in the S&P 500, healthcare saw the most significant gains, while technology was the largest loser. Nvidia was the notable drag on the index, alongside declines in shares of Broadcom, Amazon, and Microsoft.

The Dow Jones Industrial Average rose by 0.08%, ending at 43,461.21. The S&P 500 saw a decrease of 0.50%, closing at 5,983.25, while the Nasdaq Composite dropped 1.21% to finish at 19,286.93.

Asia Markets Today

• On Tuesday, Japan’s Nikkei 225 experienced a decline of 1.44%, closing at 38,225.50, largely due to losses in the Shipbuilding, Paper & Pulp, and Steel sectors.
• Australia’s S&P/ASX 200 decreased by 0.68% to 8,251.90, with Consumer Discretionary, IT, and Materials stocks struggling.
• India’s Nifty 50 fell slightly by 0.12% to 22,526.30, while the Nifty 500 dropped by 0.36% to 20,395.20. While sectors like Auto, IT, and Consumer Durables saw some gains, declines in Metals, Oil and Gas, and Real Estate offset those advancements.
• In China, the Shanghai Composite declined by 0.80% to end at 3,346.04, and the Shanghai Shenzhen CSI 300 fell by 1.11% to close at 3,925.65.
• The Hang Seng Index in Hong Kong fell 1.32%, closing at 23,034.02.

Eurozone Update at 05:30 AM ET

• The European STOXX 50 index rose by 0.15%.
• Germany’s DAX increased by 0.21%.
• France’s CAC gained 0.10%.
• The U.K.’s FTSE 100 index was up 0.41%.

Commodities Update at 05:30 AM ET

• Crude Oil WTI prices rose by 0.25%, reaching $70.88 per barrel, while Brent crude increased by 0.12% to $74.40 per barrel. The rise in oil prices for the second day was fueled by U.S. sanctions against Iran, which tightened supply concerns. Despite this, uncertainty regarding Chinese demand and upcoming tariffs limited the hikes.
• Natural Gas gained 0.05% to $3.984.
• Gold was trading down by 0.30% at $2,954.81, Silver fell 0.06% to $32.585, while Copper rose by 0.33% to $4.5780.

U.S. Futures Update at 05:30 AM ET

Futures for the Dow were down 0.08%, S&P 500 futures fell by 0.19%, and Nasdaq 100 futures decreased by 0.35%.

Forex Update at 05:30 AM ET

• The U.S. dollar index rose 0.01% to 106.68. The USD/JPY increased by 0.05% to 149.62, and the USD/AUD rose by 0.32% to 1.5800.
• The dollar steadied after tariff comments from Trump related to Mexico and Canada bolstered safe-haven demand. Nevertheless, market uncertainty, weak U.S. economic data, and political risks in Germany maintained defensive support for the dollar.

Asia, Europe, Gold, Market, Oil