Charting the markets: 9/1/24

The Hang Seng is once more heading lower, even as the Nikkei 225 and Dow Jones move higher, while the British pound is rising against the euro and the US dollar. AUD/USD is weakening as concerns about China resurface. Meanwhile, Brent crude oil is clawing back some of yesterday's losses, and gold is also looking to recoup some recent downside.

(AI Video Summary)

US markets do well after oil prices fall

In today's "Charting the markets" feature, host Chris Beauchamp talks about how different markets are performing recently. To start off, he mentions that the US markets had a good day because oil prices fell and people weren't expecting much inflation. Overall, the markets have been pretty steady, but the big surge we saw in November and December didn't continue into this year. Beauchamp thinks the Federal Reserve might lower interest rates in May because of the low inflation expectations and falling oil prices.

Dow Jones and Nikkei analysis

Then, he goes on to talk about how different stock indices are doing. The Dow Jones had a bad week but has started to bounce back and is now close to its recent highs. The Nikkei 225 index in Japan is also doing well and is heading towards its highest level since 1989. In Europe and the US, the markets are being cautious and not continuing the strong run they had on Monday.

The video also mentions that there aren't many important events happening today, except for the US trade balance. But Beauchamp discusses how there are some important things coming up later this week. He mentions the US CPI data, which is a way to measure inflation, and the start of earnings season, which is when companies report how well they did in the past few months. These events could have a big impact on the markets.

Forex and commodities analysis

Next, he talks about how different currencies are doing. The euro and British pound have been going in opposite directions, with the euro losing some of its gains from December and the pound getting stronger against the US dollar. The Australian dollar, on the other hand, is still going down even though it had a recent increase.

He also looks at gold prices, which have gone down a bit but are still in a general upward trend. And he mentions that oil prices have been struggling to stay above a certain level, even though they've been doing okay lately.

Lastly, he mentions that we should pay attention to the US trade balance and look forward to Thursday's inflation data and the start of earnings season on Friday.