Mon. Feb 26th, 2024
Japanese Nikkei Index Surges 3% and Sets New Record

The Asian stock markets are closed for the Chinese New Year, while the Nikkei in Japan is up 3% at this hour and trading at a new record high of 38,000. In the US, futures are slightly lower this morning.

On Wall Street last night, the main indices closed in mixed trends. The Nasdaq fell 0.3%, the S&P500 lost 0.1% and the Dow Jones added 0.3%, breaking an all-time high. Meanwhile, stock nature jumped by 7.5% after Piper Sandler upgraded their recommendation on the stock to ‘overweight’ from ‘neutral’.

The Israeli company Beamr saw its shares increase by about 1500% during trading on Monday after reporting a collaboration with chip giant Nvidia. The company from Tel Aviv was issued a year ago when it raised $7.8 million at a value of about $48 million. At the end of trading (Monday), the increases in the stock moderated and it closed with a jump of about 400%. The company’s market value was $129 million at the close on Wall Street.

In the US government debt market, the 10-year bond yield fell slightly last night and traded around 4.16%. The two-year bond yield was 4.47%.

This morning, oil prices are trading slightly higher with a Brent barrel price of $82 dollars at this time. Dr Michael Bafman, chief economist of Bank Leumi, wrote in his review that “the volatility in oil prices is expected to remain relatively high due to security events in the Middle East.”

Today, unemployment data in Great Britain and consumer price index data in Switzerland are expected to be published alongside inflation data in Israel at 15:30 Israel time and unemployment data in France later today as well as employment rate figures for Canada tomorrow morning

By Editor

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