ASX 200: Tracks US Rally, Tech and Gold Stocks Lead Gains
==========
The ASX 200 and the Nikkei advanced, while the Hang Seng Index and the Mainland China equity markets saw red; Softer July US producer prices fueled speculation of multiple Fed rate cuts in 2024, driving demand for riskier assets; The US equity markets had a positive Tuesday, August 13, session with the Nasdaq Composite Index and S&P 500 rallying 2.43% and 1.68% respectively; Starbucks surged 24.50% after naming Brian Niccol as the new Chairman and CEO; Softer-than-expected US producer prices raised expectations of multiple 2024 Fed rate cuts on Tuesday; China's economic growth concerns linger after Q2 growth slowed to 4.7% ahead of crucial economic data on Thursday; The Hang Seng Index declined by 0.25% on Wednesday, with concerns about the Chinese economy overshadowing hopes of a Fed rate cut; The Nikkei Index was up 0.86% on Wednesday morning, with a steady USD/JPY supporting demand for Nikkei-listed stocks; The ASX 200 Index advanced by 0.61% on Wednesday morning, tracking the overnight gain in the US; Bank, gold, and tech stocks were the main contributors to the ASX 200 gains.
#Asx200 #UsRally #TechStocks #GoldStocks #FedRateCuts #ChineseEconomy
https://www.fxempire.com/forecasts/article/asx-200-tracks-us-rally-tech-and-gold-stocks-lead-gains-1453564
FX Empire /
npub1lj…9zjdc
2024-08-14 03:59:23
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wss://relay.damus.ioPublished at
2024-08-14 03:59:23Event JSON
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"content": "ASX 200: Tracks US Rally, Tech and Gold Stocks Lead Gains\n==========\n\nThe ASX 200 and the Nikkei advanced, while the Hang Seng Index and the Mainland China equity markets saw red; Softer July US producer prices fueled speculation of multiple Fed rate cuts in 2024, driving demand for riskier assets; The US equity markets had a positive Tuesday, August 13, session with the Nasdaq Composite Index and S\u0026P 500 rallying 2.43% and 1.68% respectively; Starbucks surged 24.50% after naming Brian Niccol as the new Chairman and CEO; Softer-than-expected US producer prices raised expectations of multiple 2024 Fed rate cuts on Tuesday; China's economic growth concerns linger after Q2 growth slowed to 4.7% ahead of crucial economic data on Thursday; The Hang Seng Index declined by 0.25% on Wednesday, with concerns about the Chinese economy overshadowing hopes of a Fed rate cut; The Nikkei Index was up 0.86% on Wednesday morning, with a steady USD/JPY supporting demand for Nikkei-listed stocks; The ASX 200 Index advanced by 0.61% on Wednesday morning, tracking the overnight gain in the US; Bank, gold, and tech stocks were the main contributors to the ASX 200 gains.\n\n#Asx200 #UsRally #TechStocks #GoldStocks #FedRateCuts #ChineseEconomy\n\nhttps://www.fxempire.com/forecasts/article/asx-200-tracks-us-rally-tech-and-gold-stocks-lead-gains-1453564",
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