Today's News Update - 6th March 2024 Asia Asia-Pacific markets faced widespread declines on Wednesday, echoing a tech-related downturn on Wall Street spurred by Apple. The U.S. tech giant's shares dropped nearly 3% following a report indicating a significant fall in iPhone sales in China during the first six weeks of 2024. Investors are keenly observing Apple suppliers, including Taiwan Semiconductor Manufacturing Company and Samsung. The news follows China's CSI 300 index reaching over three-month highs after the country set its 2024 economic growth target at "around 5%" during the "Two Sessions" meeting. The Nikkei 225 in Japan slipped below 40,000, and South Korea's Kospi and Australia's S&P/ASX 200 also experienced declines. US Futures tied to the Nasdaq 100 showed a rebound on Tuesday night following a notable sell-off across all three major indices. Nasdaq 100 futures rose by 0.2%, while S&P 500 futures added 0.05%, and Dow Jones Industrial Average futures increased by 0.05%. During after-hours trading, CrowdStrike surged by 25% after exceeding expectations in both revenue and earnings for the latest quarter, coupled with optimistic guidance for the full year. Conversely, Nordstrom declined by 10% after cautioning about potential sales decreases in 2024. The market saw a second consecutive day of declines, with the Dow, S&P 500, and Nasdaq Composite all experiencing losses. The Dow dropped by 404.64 points (1.04%), the S&P 500 dipped by 1.02%, and the Nasdaq Composite slipped by 1.65%. Commodity Gold reached a historic high on Tuesday, surpassing $2,100 per ounce, driven by increasing expectations for a U.S. interest rate cut in June and heightened demand for safe-haven assets amid the Middle East conflict. Spot gold rose by 0.8% to $2,132 per ounce, reaching a peak of $2,141.59 earlier in the session. U.S. gold futures settled approximately 0.7% higher at $2,141.9. This marks the first time bullion has hit a record high since December when it reached $2,135.40. Conversely, crude oil futures experienced a decline on Tuesday as China's commitment to boost economic growth and OPEC+'s decision to prolong production cuts failed to impress traders. The West Texas Intermediate (WTI) contract for April lost 59 cents (0.75%) to settle at $78.15 a barrel, while May Brent futures decreased by 76 cents (0.92%) to settle at $82.04 a barrel. The above analysis is only for the views of market researchers and is for reference only and is not Regarded as a specific investment suggestion. #Forex #trading #tradingforex