In Asian Equity Markets Japanese stocks snapped a four-day winning streak on Thursday, weighed down by weaker Nasdaq futures, while investors sold tech stocks amid worries over Sony Group’s gaming business and a decrease in Panasonic’s quarterly profit. The Nikkei index fell 1.06 percent to 27,241.31, while the broader Topix lost 0.86 percent to 1,919.92. Australian shares ended lower on Thursday, dragged down by technology stocks that suffered their worst session in nearly a month. The S&P/ASX 200 closed 0.1 percent lower at 7,078 after a two-day winning streak lost steam in thin trade.
In Currency Markets the dollar found a footing in Asia on Thursday, pausing the week’s slide as a decline in tech and social media stocks soured appetite for riskier currencies, and as traders awaited central bank meetings in Britain and Europe. The risk-sensitive Australian and New Zealand dollars fell slightly in morning trade. Sterling and the euro did not extend recent gains, and the common currency was marginally weaker at $1.1297. The yen held at 114.41 per dollar. The Aussie was last down 0.2 percent at $0.7120, shy of resistance at $0.7180. The kiwi was 0.1 percent lower at $0.6625.
In US Equity Markets stocks ended higher on Wednesday, rising for a fourth straight session after a turbulent start to the year, aided by upbeat earnings from Google-parent Alphabet and chipmaker Advanced Micro Devices. The Dow rose 0.63 percent, to 35,629.33, the S&P 500 gained 0.94 percent, to 4,589.38 and the Nasdaq Composite added 0.5 percent, to 14,417.55. Advanced Micro Devices Inc climbed 5.1 percent after the company on Tuesday forecast 2022 revenue above expectations, following strong quarterly demand for its semiconductors, despite global supply snags.
In Commodities Markets oil prices edged up on Wednesday after OPEC+ stuck to planned moderate output increases despite pressure from top consumers to raise output more quickly. Brent crude ended settling up 31 cents to $89.47 a barrel, while U.S. West Texas Intermediate crude gained 6 cents to $88.26 a barrel. Spot gold gained 0.4 percent to $1,808.48 per ounce. U.S. gold futures settled 0.5 percent higher at $1,810.30. Spot silver rose 0.3 percent to $22.70 an ounce, platinum advanced 0.9 percent to $1,036.16, and palladium rose 0.4 percent to $2,373.31.
In European Equity Markets stocks closed higher for a third straight session on Wednesday as strong fourth-quarter earnings and deal-making possibilities outweighed concerns over interest rate hikes ahead of key central bank decisions due on Thursday. The pan-European STOXX 600 rose 0.5 percent. German chip supplier Siltronic posted a 17 percent jump in quarterly earnings. But the stock fell 1.1 percent after a sale to Taiwan’s GlobalWafers collapsed. Financial stocks rose 1.1 percent and have benefited in recent weeks from the prospect of a higher interest rate environment.
In Bond Markets an unexpected decline in private payrolls on Wednesday pushed U.S. Treasury yields slightly lower as investors weighed the significance for Friday’s broader jobs report and the Federal Reserve’s plan to raise interest rates this year. The yield on 10-year Treasury notes was down 3.2 basis points to 1.768 percent, though it remains nearly 30 basis points higher than where it ended 2021. The yield on the 30-year Treasury bond was down 2.8 basis points to 2.096 percent. The 2-year U.S. Treasury yield was down 0.5 basis point at 1.160 percent.