Asia And Europe Markets Mixed; Fed's Hawkish Comments Boost Dollar - Global Markets Today While US Slept

On Thursday, Nov. 14, U.S. markets ended lower after Fed Chair Jerome Powell dampened hopes for an interest rate cut, citing steady economic growth, a strong job market, and persistent inflation. Traders reduced bets on a December cut, leading to declines in the Dow, S&P 500, and Nasdaq.

Powell’s remarks followed data showing a rise in producer prices for October, slightly higher than expected.

Related: Powell’s Hawkish Remarks Shake Markets: Stocks Fall, Dollar Rockets, Bitcoin Dips

Economic data showed that U.S. jobless claims fell by 4,000 to 217,000 for the week ending Nov. 9, beating estimates of 223,000. Producer prices increased by 0.2% in October, matching market expectations after a revised 0.1% rise in September.

The majority of S&P 500 sectors fell, led by consumer discretionary, industrials, and healthcare. However, tech and energy stocks ended higher.

The Dow Jones Industrial Average was down 0.47% and closed at 43,750.86, the S&P 500 declined 0.50% to 5,949.17, and the Nasdaq Composite slid 0.64% to finish at 19,107.65.

Asia Markets Today

• On Friday, Japan’s Nikkei 225 declined 0.35% and ended the session at 38,637.50, led by gains in the Warehousing, Shipbuilding, and Trading sectors.
• Australia’s S&P/ASX 200 rose 0.74% and ended the day at 8,285.20, led by gains in the Utilities, Gold, and Financials sectors.
• India Markets were closed for the Guru Nanak Jayanti holiday.
• China’s Shanghai Composite declined 1.45% to close at 3,330.73, and the Shenzhen CSI 300 fell 1.75%, finishing the day at 3,968.83.
• Hong Kong’s Hang Seng slipped 0.09% and closed the session at 19,426.34.

Eurozone at 05:30 AM ET

• The European STOXX 50 index was down 0.23%.
• Germany’s DAX gained 0.14%.
• France’s CAC fell0.04%.
• UK’s FTSE 100 index traded higher by 0.02%.
• European stocks were mixed after weak U.K. growth data, higher French inflation, and hawkish Fed remarks.

Commodities at 05:30 AM ET

• Crude Oil WTI was trading lower by 1.35% at $67.78/bbl, and Brent was down 1.28% at $71.63/bbl.
• Oil prices declined, heading for a weekly loss amid concerns over weakening Chinese demand and fewer anticipated U.S. rate cuts. Lower refinery output and slowing factory growth in China added pressure.
• Natural Gas declined 2.44% to $2.717.
• Gold was trading higher by 0.04% at $2,573.80, Silver gained 0.16% to $30.610, and Copper rose 1.6% to $4.1420.

US Futures at 05:30 AM ET

Dow futures decreased 0.44%, S&P 500 futures were down 0.63%, and Nasdaq 100 futures fell 0.88%.

Forex at 05:30 AM ET

• The U.S. Dollar Index declined 0.15% to 106.51, USD/JPY was down 0.60% at 155.30, and USD/AUD slid 0.25% to 1.5453.
• The U.S. dollar hit near one-year highs after Fed Chair Powell’s hawkish comments boosted Treasury yields, pressuring equities. The dollar’s surge weighed on the euro, gold, and oil prices.

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