Asia Mostly Lower, Europe Markets Up As Dollar Strengthens Ahead Of Fed Rate Decision - Global Markets Today While US Slept

On Monday, December 16th, U.S. markets closed mixed, with the Nasdaq reaching a record high and the S&P 500 rising as investors anticipated the Federal Reserve’s policy decision and a likely rate cut. Gains in the consumer sector offset weaker manufacturing data. Investor sentiment remained upbeat, driven by hopes for easing rates and economic resilience.

On the economic front, the NY Empire State Manufacturing Index dropped sharply to 0.20 in December from 31.2 the previous month, missing expectations. Meanwhile, the S&P Global services PMI rose to 58.5 in December, while the manufacturing PMI fell to 48.3 from 49.7 in November.

Most S&P 500 sectors closed lower, led by materials, energy, and healthcare, while consumer discretionary and communication services outperformed, ending higher.

The Dow Jones Industrial Average was down 0.25% and closed at 43,717.48, the S&P 500 closed higher by 0.38% to 6,074.08, while the Nasdaq Composite rose 1.24% to finish at 20,173.89.

Asia Markets Today

• On Tuesday, Japan’s Nikkei 225 declined 0.13% and ended the session at 39,410.00, led by losses in the Shipbuilding, Warehousing, and Precision Instruments sectors.
• Australia’s S&P/ASX 200 gained 0.78% and ended the day at 8,314.00, led by gains in the Industrials, IT, and A-REITs sectors.
• India’s Nifty 50 slid 1.41% to 24,320.30, and Nifty 500 was down 1.19%, closing at 23,075.15.
• China’s Shanghai Composite fell 0.73% to close at 3,361.49, while the Shenzhen CSI 300 gained 0.26%, finishing the day at 3,922.03.
• Hong Kong’s Hang Seng was down 0.48% and closed the session at 19,700.48.

Eurozone at 05:30 AM ET

• The European STOXX 50 index was up 0.32%.
• Germany’s DAX gained 0.18%.
• France’s CAC rose 0.28%.
• U.K.’s FTSE 100 index traded lower by 0.75%.

Commodities at 05:30 AM ET

• Crude Oil WTI was trading lower by 1.44% at $69.69/bbl, and Brent was down 0.72% at $73.39/bbl.
• Oil prices fell due to weak Chinese economic data and caution ahead of the Fed’s interest rate decision.
• Natural Gas rose 0.65% to $3.235.
• Gold was trading lower by 0.53% at $2,655.99, Silver was down 1.16% to $30.700, and Copper fell 1.14% to $4.1435.

U.S. Futures at 05:30 AM ET

Dow futures were down 0.35%, S&P 500 futures fell 0.25% and Nasdaq 100 futures slid 0.04%.

Forex at 05:30 AM ET

• The U.S. Dollar Index was up 0.17% to 107.03, USD/JPY was down 0.22% at 153.81, and USD/AUD rose 0.47% to 1.5770.
• The U.S. dollar remained strong ahead of the Federal Reserve’s expected rate cut, supported by robust economic data and higher yields.

Image via Shutterstock