Trade overview: current reports, trends, indices, stock prices, bonds, foreign exchange and commodities and analyst recommendations
08:34
The trading day in Asia is hourly in a mixed trend. The Nikkei is down 0.6%, the Shanghai Stock Exchange is trading around base levels, the Kospi is up 0.1% and the Hang Seng is jumping about 1.1%.
US futures are trading hourly with slight increases.
Last night on Wall Street (Thursday), the trading day closed with price increases. The Nasdaq climbed 1%, the S&P 500 rose 0.8% and the Dow Jones added about 0.6%.
stock oracle It rose last night by about 3% after the Bernstein asset management company noted positively the investment in the company for investors looking to be exposed to companies in the software and cloud field. Bernstein raised the target price of the stock to $175, a price that represents an upside of 11% from the closing price of the stock on Wednesday.
On the other hand, Moderna shares plunged by about 12%. This is after the company stated that it is expected to cut its expenses by about 1.1 billion dollars by 2027 and receive about 10 approvals for new drugs for distribution from the FDA.
Microsoft Interest gathered after it was reported in Bloomberg that the technology giant is about to cut about 650 jobs in its Xbox unit. These are already the third layoffs this year, as the company tries to reduce costs and integrate Activision Blizzard’s technology, which it purchased for $70 billion.
At the same time, Microsoft reported today that Karolina Dybak Happa was appointed vice president and chief operating officer of the company. Dayback joins from GE, where she was senior vice president and chief financial officer from 2020 to September 2023.
In the US debt market, government bond yields are falling this morning. The 10-year yield is trading around 3.64% and the two-year yield is down 6 basis points to 3.58%.
In the macro sector, inflation data in France and trade data in the US are expected to be published later today (Friday).
In the commodity market, oil prices rise by about 0.7%. The price of a barrel of Brent stands at 72.5 dollars and the price of a barrel of WTI trades around 69.5 dollars.
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