15 ZEEL
Market Action – Friday, February 23rd 2024**
Overnight, the S&P 500 and Nasdaq Composite notched new all-time closing highs on the back of an impressive rally by Nvidia.*
Gift Nifty is indicating a red-hot opening for our stock markets, thanks to sizzling overnight session at Wall Street and most importantly, Japanese Nikkei is seen jumping out of gate this Friday morning on excitement for the prospects for the tech sector.
# Please note, the Nikkei has hit a fresh record high for the first time since December 1989.
GLOBAL UPDATE:
GIFT Nifty (+56, 22300)
Dow Future (-10, 39060)
Nikkei (+837, 39099)
Hang Seng (+240, 16743)
Dow Jones (+457, 39069)
Nasdaq (+461, 16042)
Bovespa (+209, 130241).
WHAT HAPPENED AT WALL STREET IN YESTERDAY’S TRADE:
# Overnight at Wall Street, both the Dow Jones index 1.2% at 39,069) and the S&P 500 (+2.1% at 5,087) finished at record closes. The Nasdaq Composite climbed 3.0% to 16,041, and is now within striking distance of its closing peak of 16,057.44 set in November 2021.
# Please note, US stocks are still sitting near all-time highs—recently driven up by the continued frenzy over artificial intelligence.
# Nvidia`s earnings report had a halo effect on other chip stocks. Advanced Micro Devices for one, jumped 10.7%, gaining $28 billion in market value along the way. Arm Holdings (+4.2%), Broadcom (+6.3%) and Taiwan Semiconductor Manufacturing (+3.0%) were also notable gainers.
# WTI crude oil prices is seen trading range bound at $78.29 per barrel.