Mixed trend on Wall Street; Solaredge jumps 15%

Trade overview: current reports, trends, indices, stock prices, bonds, foreign exchange and commodities and analyst recommendations

17:36

The mixed trend on Wall Street continues. The Nasdaq is down 0.5%, the Dow Jones is trading around fundamental levels and the S&P 500 is down 0.3%.

solaredge Jumps about 15% after launching a new home battery as part of the ‘USA Edition’. The company explains that the battery provides a storage capacity of 9.7kWh and includes SolarEdge ONE, the company’s next-generation energy optimization system, which maximizes energy savings by intelligently managing solar export during peak periods.

16:44

Nvidia is attracting interest and is currently down by 2.5% after it was reported by Reuters that the Chinese regulator responsible for market regulations announced that it had opened an investigation against the chip maker, on suspicion of violating the law on competition and antitrust issues in the country.

“In recent days, due to a suspected violation of China’s monopoly law by Nvidia and the restrictive conditions surrounding the acquisition of Mellanox, the administration has opened an investigation into Nvidia in accordance with the law,” the statement of the State Administration for Market Regulation in China, as translated into English by CNBC, was published.

According to the report, the chip manufacturer Nvidia is suspected of having violated the agreement to which it committed during the acquisition of the Israeli Mellanox, according to the conditions detailed by the regulator. At the time, when Nvidia made an offer to buy Mellanox for $6.9 billion, there were fears that China would block the deal. However, in 2020, Beijing approved the deal with a number of conditions, such as preventing off-the-books trading conditions, purchase restrictions, and more.

16:30

The trading day on Wall Street opened with a mixed trend. The Nasdaq is down 0.2%, the S&P 500 is off 0.% and the Dow Jones is up 0.1%.

15:25

The positive trend in Europe continues: the Dax index climbs by about 0.1%, the Potsi and the KAC add about 0.5% to their value.

In the commodity market, oil prices rise by more than 1%. The price of a barrel of American oil is about $68, while the price of a barrel of Brent oil is about $72. Gold is up about 0.7% and its price is about $2,680 per ounce.

In the American debt market, the 10-year government bonds increase by about 2 basis points, with a yield of about 4.17%; the two-year bonds also increase by about 2 basis points, with a yield of about 4.12%.

14:30

Slight increases in Europe: the DAX index climbs by about 0.1%, the Potsi and the KAC add about 0.5% to their value.

stock Nvidia is now down in preliminary trading, after China opened an investigation against it, on suspicion of possible violations of the country’s competition laws. The Chinese government announced that the investigation is ongoing in connection with the purchase of Mellanox.

The news comes against the background of the ongoing trade war between China and the US. Thus, about two years ago, the US government banned Nvidia from selling its most advanced AI chips to China. Last week, the Biden administration imposed export bans on memory chips and other chip-making tools to 140 Chinese companies – in order to prevent China from advancing its military capabilities through artificial intelligence.

12:50

A mixed trend in Europe: the DAX loses its value by about 0.1%, while the Putsy and the KAC both climb by about 0.3%.

Mining stocks in Europe are recording increases, against the background of China’s intention to lead a looser monetary policy in the coming year, and to take more proactive economic steps. Among the stocks that rise: Rio Tinto , Antofagasta , Boliden . Boliden jumped after it reported it had agreed to name two mines in Portugal and Sweden for $1.3 billion.

Huge stock of meal kits the fresher Drops, after reports in the media that the US Department of Labor is investigating the company, against the background of accusations of employing children in violation of the law directed against it. ABC reported at the end of last week that claims that immigrant children worked in packaging and cooking at one of the company’s facilities in the US are being investigated.

11:20

Increases in Europe: the DAX climbs by about 0.1%, the FTSE climbs by about 0.3% and the KAC advances by about 0.5%.

The leaders of the Communist Party of China, led by President Xi Jingping, promised that they would take more proactive fiscal measures and lead a slightly looser monetary policy in the coming year, in order to accelerate domestic consumption.

Against the background of the report, the luxury stocks are recording increases, among them Kring , Christian Dior , Moncler , Barbary Group andLouis Vuitton . Luxury stocks have been sensitive to news related to the Chinese economy in recent months. Historically, the Chinese are big consumers of luxury and luxury, but some international brands have noted a slowdown in demand recently, CNBC reported.

10:20

A positive opening in Europe: the DAX and the FTSE both advance by about 0.3%, the CAC rises by about 0.7%.

The confidence of business owners in Great Britain fell to its lowest level since January 2023 in November – according to a report by the accounting firm BDO. BDO’s Optimism Index fell by 5.81 points to 93.49 in November, with the company stating that this was the biggest monthly decline since August 2021. The company cited rising prices, falling demand and ongoing challenges in the labor market as key factors facing businesses in the UK.

The report comes after the Labor Party passed a budget, within which a tax increase of a total of approximately 52 billion dollars is planned. Business owners warned that the government’s measures, which aim to encourage growth, are actually expected to push up inflation and slow down the hiring of workers – as reported on CNBC.

8:30

Asia

Asian stock markets are now trading mainly in declines: the Hang Seng index and the Shanghai Stock Exchange are down about 0.5% and about 0.2%, respectively. The Japanese Nikkei rose by about 0.2%.

The Kospi fell by about 2.8%, after South Korean President Yoon Seok-yeol survived a vote to impeach him last Saturday, which followed the military coup attempt he carried out last week.

In Japan, GDP in the third quarter stood at 0.3%, an increase from the previous reading, which stood at 0.2%, contrary to analysts’ estimates, who expected the figure to remain unchanged.

In China, inflation fell to a five-month low in November, climbing 0.2% at an annual rate; This is in contrast to analysts’ forecasts, who expected a slight increase to 0.5% in November, compared to 0.3% in October that preceded it.

Wall Street

On Wall Street, trading closed in a mixed trend last Friday. The Dow Jones weakened by 0.3%, the S&P 500 added 0.3% and the Nasdaq advanced by 0.8%. In the weekly summary, the S&P 500 rose 1% to a level of 6,090 points, an all-time high, for the 57th time Since the beginning of the year, the Nasdaq index rose by 3.3%, while the Dow Jones fell by 0.6%.

Trading in the futures contracts on the US stock market indices is now conducted with minimal rate decreases.

US debt market

Government bond yields in the US are trading stable this morning: the 10-year bond yield stands at 4.14% this morning, while the two-year yield stands at 4.1%.

The global forex market

The euro and the pound are both strengthening against the dollar, by about 0.3% and about 0.2%, respectively. The dollar is trading steadily against the Japanese yen.

The crypto market

After pulling back a bit this past weekend, the price of Bitcoin is down about 0.5% and is now trading around $99,000. Ethereum is down about 1.4% and its price is about $3,900.

the commodity market

Oil prices are registering slight increases of about 0.6% this morning. The price of a barrel of American type oil stands at about 67.6 dollars, while the price of Brent type oil stands at 71.5 dollars.

Gold rises by about 0.2% and its price stands at about $2,660 per ounce.