Stock markets in Asia were largely lower on Wednesday, with only a few countries keeping their markets open to avoid Christmas closures. The Tokyo and Shanghai stock exchanges reported declines of 0.1% and 0.2%, respectively.
Oil prices rose slightly, with US benchmark crude oil up 93 cents at $70.17 per barrel and Brent crude picking up 6 cents to $73.23 per barrel. The dollar also strengthened against the yen, rising to 157.37 from 157.11.
In the US, stocks rebounded on Tuesday in a shortened holiday session, with tech giants like Apple, Amazon, and Google driving gains. These companies contributed to a broader market rise of 1.1%, while the Dow Jones Industrial Average rose 0.9%. The Nasdaq composite climbed 1.3%.
Tesla made significant gains, jumping 7.4% for the biggest gain among S&P 500 stocks. American Airlines also saw its shares increase by 0.6% despite initially experiencing a brief loss due to technical issues.
The US stock market’s performance this year remains strong, with the S&P 500 up 26.6%. While investors are concerned about potential policy changes under President-elect Donald Trump’s administration, which could impact inflation and global trade, many believe that the market will continue to deliver solid returns in 2024.
Source: https://apnews.com/article/stocks-markets-rates-2cb9d063a156e98fe701d38dc53e3449