Stock Market Closed Today: Asian markets are trading higher

Indian Stock Market Closed Today 2nd October on account of Gandhi Jayanti

 

Good morning, and welcome to the morning reports. The Indian stock market is closed Today, 2nd October 2023, on account of Gandhi Jayanti.

 

Asian stock market indexes update

 

Asian stock markets are trading higher on Monday as China’s factory activity expanded more than expected in September. The weekend data showed that China’s manufacturing PMI bounced back first time since April and climbed to 50.20, while the economist’s expectation was 50.0.

The market sentiments are also positive as U.S. legislators were able to reach a temporary agreement that averted a government shutdown.

Japan’s Nikkei is trading higher by 1.44 percent, as large Manufacturer sentiments improved for the second straight quarter ending September, due to recovery in auto sectors. Stock Markets in China, South Korea, and Hong Kong are closed today due to a public holiday. Australia’s S&P/ASX 200 is trading flat, while Straits Times is trading higher at 7.30 am IST,

 

U.S. stock market indexes update

 

The US stock markets closed mixed on Friday amid fear of a US government shutdown. Dow Jones and S&P 500 erased all early gains and closed lower by 0.47 percent and 0.27 percent respectively. Nasdaq trimmed most of its early gains and ended slightly higher by 0.14 percent. The US government shutdown drama ended just ahead of the midnight deadline, as both houses of Congress approved a short-term funding bill for 45 days.

Earlier on Friday morning, the market sentiments were positive as the Fed’s preferred inflation metrics Personal Consumption Expenditures (PCE) Price Index came better than expected in August. This raised hope that the Fed might pause interest rate hikes in the upcoming November meeting.

The US benchmark 10-year Treasury yields also declined after hitting almost 16 years high at 4.6% on Wednesday.

 

European stock market indexes update

 

European stock market indexes ended marginally higher on Friday but closed lower for the week. The market sentiments were upbeat, as Eurozone inflation fell more than expected in September as per the survey shown by Eurostats.

The economic data released in the UK showed that the country’s GDP growth rose by 0.3% between January and March, a significant jump from the 0.1% growth forecasted earlier.

Meanwhile, In Germany, retail sales recorded an unexpected fall of 1.2%  month-on-month basis in August, well below forecasts of a 0.5% rise, as per the official data showed on Friday. 

The pan-European Stoxx 600 index gained 0.38 percent in the last trading session of the week. The key European stock market indexes, CAC and DAX gained 0.26 percent and 0.41 percent respectively, while the UK’s FTSE was up by 0.08 percent on Friday.

 

If you like the post “Stock Market Closed Today: Asian markets are trading higher” please share it with others.

 

You may also like to read, Nifty and Bank Nifty Prediction for Tuesday, 3 Oct  2023

Stock Market Prediction Next Week (2- 6 Oct 2023)

Happy Investing!!

Editorial desk