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1 hour ago
European stock markets open higher.Mining stocks lead gains
European stock markets opened higher on Tuesday after the long Easter weekend.
The pan-European STOXX 600 index rose 0.8% at the market’s opening, with most sectors and major exchanges trading green.
Mining stocks rose 3%, followed by auto stocks, which rose 1.3%. Food and Beverage was the only sector to trade in negative territory, down 0.1%.
— Hannah Ward Glenton
3 hours ago
European Market: Click here for the opening call
European stock markets are expected to open higher across the board on a strong start to the trading week.
The UK’s FTSE 100 is set to rise 45.9 points to 7,795.2, while Germany’s DAX is set to rise 118 points to 15,718, according to IG data. France’s CAC index rises 62.7 points to 7,381.8, while Italy’s MIB rises 205.5 points to 26,894.6.
— Hannah Ward Glenton
6 hours ago
Bitcoin tops $30,000 for first time since June 2022
Bitcoin rose Monday night, breaking above the critical $30,000 psychological level as investors waited for major inflation data that could steer the crypto price later in the week.
According to Coin Metrics, the largest cryptocurrency by market cap has risen 7% to $30,193.25 for the first time since June. US consumer and producer prices, released Wednesday and Thursday respectively, will be crucial in determining whether or when the Fed will suspend or end its rate hike campaign.
Ethereum, meanwhile, is rising ahead of a planned “Shanghai” tech upgrade, bringing a wave of selling pressure to the market as funds previously locked in Ethereum are released in the coming weeks. is expected. As an investor ahead of Wednesday’s planned upgrade, it rose more than 3.5% to $1,925.11 for the first time since August.
For more information, read the full article here.
— Tanaya Machel
7 hours ago
China Inflation Eases in March, Producer Prices Fall Further
Inflation in China fell short of expectations at 0.7% in March, beating expectations of a 1% rise in the CPI from a year ago.
The producer price index also fell 2.5% year-on-year after falling 1.4% in the previous month, in line with Reuters forecasts.
— Lee Ji-hye
6 hours ago
Alibaba shares surge 3.12% after ChatGPT-style product announcement
See chart…
Alibaba stock performance
Hong Kong-listed Alibaba shares rose 3.12% in early trading on Tuesday after the Chinese tech giant’s cloud computing subsidiary debuted its ChatGPT-style product Tongyi Qianwen.
Alibaba Cloud said in a statement that Tongyi Qianwen will be rolled out to all Alibaba products from e-commerce to search in the near future. Alibaba has not disclosed a timeline.
Daniel Zhang, Chairman and CEO of Alibaba Group and CEO of Alibaba Cloud, said: Intelligence, in a statement.
Alibaba is the latest Chinese company to announce a ChatGPT clone, following Baidu’s Ernie Bot in March. Baidu continued to record losses of over 4% on him.
— Sheila Chen
8 hours ago
Crypto Check: Bitcoin Exceeds $30,000
Cryptocurrencies rose Tuesday morning in Asia, with Bitcoin rising more than 7% to $30,190 in the past 24 hours, according to Coin Metrics.
Bitcoin held its highest level since surpassing $30,000 in June last year.
Ether also rose more than 3.78% to $1,923.59, breaking below $2,000.
8 hours ago
South Korea holds interest rates twice at 3.5%.
The Bank of Korea kept rates unchanged at 3.5%, as expected.
South Korean won rose slightly after moving to 1319.68 against the US dollar.
With the US Federal Reserve (Fed) seen to maintain its hawkish stance, South Korea, along with the likes of Australia and India, has paused its tightening cycle in a global inflation environment. I’m here.
10 hours ago
BTIG’s Krinsky says chip stocks are ‘vulnerable’ after gaining 30% earlier in the year
BTIG technical analyst Jonathan Klinsky said in a note to clients on April 10 that semiconductor stocks are “vulnerable” to a fall after gaining more than 30% in the first quarter. .
Two weeks ago, in late March, Klinsky said, “I thought the clock was ticking for technology broadly, and tech stocks would eventually ‘catch down’ to many other parts of the market. ‘ said. [S&P 500]”We believe the negative divergence is starting to trickle down to tech stocks, including semiconductors.”
“Both absolute and relative, half-price stocks look vulnerable after potential false breakouts above resistance. [and] An uptrend break is possible,” said the BTIG report.
See chart…
Semiconductor ETFs over the last 6 months.
All of this bodes badly for the Nasdaq Composite. BTIG says that in 2022 he will see the Nasdaq-100 index fall more than 2.5% of him 29 times, and in 2023 he will have not. “[D]Nasdaq’s ownside volatility is likely to pick up again in the coming weeks,” wrote Krinsky.
— Scott Snapper
10 hours ago
US natural gas futures hit highest day since March 3
US natural gas futures rose 8.01% on Monday, hitting its highest level since March 3rd. The previous month’s gas futures he settled at $2.172.
Gas stocks started the week higher. The First Trust Natural Gas ETF, led by Pioneer Natural Resources, Comstock, Matador and EQT, rose 1.9% during Monday’s trading session. Comstock was up 6.5%, Pioneer was up 5.8%, Matador and EQT were up over 3% each.
However, natural gas is down 51.46% so far this year.
— Pia Singh, Gina Francola
11 hours ago
Stock futures open flat
US stock futures were little changed on Monday night.
Dow Jones Industrial Average futures were up 20 points, or 0.06%. S&P 500 and Nasdaq 100 futures were up 0.06% and 0.04% respectively.
— Kim Ha Kyung
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