Stock markets showed varied performances on Thursday, influenced by U.S. economic sentiments and fluctuating global indices. As U.S. stock averages closed with minimal change, the S&P 500 managed a slight rise, showing a mere trace of upward momentum.
In Europe, Germany’s DAX fell by 0.9% to reach 22,584.04, while France’s CAC 40 dipped by 0.3% to settle at 8,122.00. The UK’s FTSE 100 remained practically the same, closing at 8,734.36. Predictably, futures for the S&P 500 climbed by 0.5%, complemented by a 0.2% increase for the Dow Jones Industrial Average.
Anticipation in the U.S. grew as the Commerce Department planned to release its last calculation for the economy’s performance in the closing months of 2024. Despite showing resilience, uncertainties prevail regarding future economic trends. Additionally, an upcoming inflation report, a measure heavily favored by the Federal Reserve, is set to add insight into economic conditions.
Subsisting worries hinge on the possibility of reduced consumer spending in the U.S., a crucial factor for economic growth, especially amidst persistent inflation and unclear forecasts.
Asian markets experienced mixed outcomes, with Tokyo’s Nikkei 225 increasing by 0.3% to 38,256.17, while Hong Kong’s Hang Seng fell by 0.3% to 23,718.29. This decline was notably influenced by tech stocks that experienced significant sales after their previous gains. Shanghai Composite, however, reversed earlier declines, ending 0.2% higher at 3,388.06.
Australia’s S&P/ASX 500 saw a rise of 0.3% to 8,268.20, while South Korea’s Kospi decreased by 0.7% to 2,621.75. In other Asian markets, Taiwan’s indices fell by 1.5%, and the SET in Thailand decreased by 1.3%.
Wednesday saw U.S. indexes produce mixed results, with the S&P 500 increasing 0.1%, thus breaking a four-day losing streak. The Dow Jones fell by 0.4%, contrasted by a 0.3% rise in the Nasdaq composite.
Recently, the stock market has wavered, influenced by downbeat economic data, including growing concerns among U.S. consumers over inflation and the impact of high tariffs set by President Donald Trump. Tech and high-growth stocks, particularly, have been hit hard, with previously unstoppable momentum now subdued.
Focusing on Super Micro Computer, the company saw a 12.2% bounce on Wednesday after unveiling its annual fiscal report, following a significant drop amidst the AI technology trading fervor.
Much of the market’s gaze was fixed on Nvidia, which saw a 3.7% rise before announcing a profit surge, fueled by high demand for its Blackwell chips used in AI technology. This was the company’s first earnings statement since rival DeepSeek challenged the industry, suggesting they could compete without high-cost chips, sparking debate on AI investments, including infrastructure such as large data centers.
Notably, some major tech firms have confirmed continued plans for significant AI investments, signaling enduring industry prospects.
In commodities, early Thursday saw a 35-cent rise in U.S. benchmark crude oil to $68.97 per barrel in New York Mercantile Exchange’s electronic trading. Contrarily, Brent crude decreased by $1.60 to $72.45 per barrel.
Currency movements saw the U.S. dollar strengthening to 149.75 yen from 149.10 yen, while the euro slightly decreased from $1.0483 to $1.0477.
