Date:
30/01/2024
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Global Stock Markets Rally
FTSE 100 and Other European Indices Up: Europe’s stock market has shown positive movements, with most major indices like FTSE 100, DAX, and CAC 40 experiencing growth.
MSCI Inc and Major US Stocks Gain: In the US, notable stock increases included MSCI Inc, General Motors Co, and Sysco Corp, showing a dynamic midday stock market.
Bonds and Commodities Update: US bonds exhibited varying movements, with the US 10-YR seeing a decrease and the 30-YR seeing an increase. Commodity market updates showed positive trends in oil and natural gas.
Corporate Earnings Impress Investors
General Motors Surpasses Expectations: General Motors reported quarterly revenue that far exceeded consensus, driving investor enthusiasm.
Pfizer Performs Strongly: Pharmaceutical giant Pfizer's stock is on the rise after beating expectations in its latest earnings report.
Carnival Reports Record Bookings: Despite worries over profits amid the Red Sea conflict, Carnival has seen record bookings for the first half of 2024.
Economic Forecasts and Global Shifts
UK’s Flutter Eyes New York Listing: Flutter proposes a shift from the UK to the New York stock exchange, seeking access to deeper capital markets.
China Regulates Short Selling: Chinese regulators are taking measures to stabilize the market by curbing short selling as economic challenges persist.
Indonesia’s Industrial Metal Miners Battle: A competitive battle emerges among miners in Indonesia due to a glut of nickel production, highlighting global resource competition.
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