MHMarkets：2024.02.23 MHM European Time Analysis

Date: 2024.02.23 MHM European Time Analysis

On Thursday, U.S. stocks hit record highs with the Dow Jones, S&P 500, and Nasdaq surging, driven by significant gains in technology and consumer discretionary sectors. Nvidia's shares soared, marking the biggest one-day value gain in Wall Street history, while other tech giants like Meta Platforms, Amazon, and Microsoft also posted strong performances. However, companies like Rivian Automotive and Lucid Group faced declines after disappointing quarterly results. Economic data showed a drop in jobless claims and a rise in manufacturing PMI, supporting the market's upward momentum. Meanwhile, global stocks, including European markets and Japan's Nikkei, advanced, with oil prices and the U.S. dollar index seeing modest changes.

In currency markets, the New Zealand dollar outshone its peers, and bond yields remained steady amidst mixed U.S. economic reports and ongoing concerns from the Federal Reserve about cutting interest rates prematurely. The U.S. dollar held firm against the yen, while the Australian dollar saw gains against the backdrop of potential further rate hikes by the RBA. Global bond yields showed little movement, with minor adjustments in the U.S. and European yields.

This week has been bustling for the forex markets, culminating in a lighter economic calendar for Friday. Traders are looking ahead to retail sales data from New Zealand, the UK's consumer confidence, and Germany's GDP growth and business climate index, among other reports from China, as they wrap up a week marked by notable movements in stocks, currencies, and economic indicators globally.