Global Market Overview May 23 2024

The global financial markets experienced a volatile trading day (see tables below) with mixed performance across major indices and commodities. In the United States, the Dow Jones Industrial Average (DJIA) fell significantly by 605.78 points, closing at 39,065.26, marking a 1.53% decline. The NASDAQ Composite (COMP) also saw a decrease, dropping 65.51 points to 16,736.03, a 0.39% fall. Similarly, the S&P 500 Index (SPX) declined by 39.17 points, ending at 5,267.84, which translates to a 0.74% drop. The Global Dow Realtime (GDOW) experienced a slight decrease as well, down 6.39 points to 4,697.43, a 0.14% decline.

Commodities had a relatively quiet day with modest movements. Gold Continuous Contract (GC00) dropped by $8.60, ending at $2,328.60, a 0.37% decline. Crude Oil WTI (CL1) saw a minor decrease of $0.06, closing at $76.81, representing a 0.08% dip.

European markets displayed a varied performance. The FTSE 100 experienced a slight decline of 31.10 points, closing at 8,339.23, a 0.37% fall. However, the DAX index in Germany rose by 11.12 points to 18,691.32, a modest increase of 0.06%. France’s CAC 40 also saw an uptick, gaining 10.22 points to close at 8,102.33, marking a 0.13% increase. Italy’s FTSE MIB had a marginal gain of 7.15 points, ending at 34,467.67, a 0.02% rise. In contrast, Spain’s IBEX 35 dropped by 17.90 points, closing at 11,311.10, a 0.16% decline, while the SXXP index rose slightly by 0.38 points to 521.56, a 0.07% increase.

In Asia, market performance was largely negative. The XX: ADOW index fell by 21.06 points to 3,965.23, a 0.53% decrease. Japan’s Nikkei (JP: NIK) plummeted by 512.79 points, closing at 38,590.43, a significant 1.31% drop. The Hong Kong Hang Seng Index (HK: HSI) also experienced a sharp decline, losing 326.89 points to end at 18,868.71, a 1.70% fall. China’s Shanghai Composite (CN: SHCOMP) dropped by 42.15 points to 3,116.39, a 1.33% decrease. Conversely, India’s market (IN: 1) surged by 1,196.98 points, closing at 75,418.04, a notable 1.61% rise. Singapore’s STI index fell by 8.00 points to 3,314.62, a 0.24% drop, and Australia’s XJO index declined by 69.7 points to 7,742.1, a 0.89% decrease. The KOSPI Composite Index in South Korea also saw a drop of 26.72 points, ending at 2,695.09, a 0.98% decline.

Currency markets showed minimal movements with the Euro slightly declining by 0.0002 to $1.0814, a 0.02% decrease. The Japanese Yen saw a small increase of 0.12 to ¥157.04, a 0.07% rise. The British Pound dropped by 0.0005 to $1.2694, a 0.04% decline. The Australian Dollar decreased by 0.0005 to $0.6602, a 0.08% fall. The U.S. Dollar Index (DXY) experienced a slight dip of 0.02, closing at 105.09, a 0.02% decline, while the WSJ Dollar Index rose by 0.04 to 99.73, a 0.04% increase.

Overall, the global markets showcased a day of mixed outcomes with notable declines in major indices, particularly in the U.S. and Asia, while Europe and some commodities displayed modest gains. The currency markets remained relatively stable with minor fluctuations.

Global Market Indices

Commodities

Europe

Asia

Currencies