UK unemployment drops, and AI stocks skyrocket
The UK, the job market is showing signs of improvement with a decrease in unemployment rates. However, average earnings are still on the higher side.
(AI Video summary)
Indices
In Europe, the markets are expected to have a mixed start. The Nikkei 225 Bear in Japan has reached levels it hasn't seen since 1989, which is pretty impressive. However, the UK jobs data is causing some concern for the Bank of England due to high average earnings despite a decrease in the unemployment rate.
ARM Holdings
Over in the US, ARM Holdings, a chip designer, has seen its share price nearly double in just one week. This is because there are expectations of positive news related to artificial intelligence, which is a hot topic right now. While volatility levels remain relatively low, there is a bit of negativity in the London markets.
Asia-Pacific market
Let's take a look at the Asia-Pacific markets. The Nikkei 225 is reaching close to its all-time record high, indicating a strong performance. The S&P ASX 200, on the other hand, is experiencing a mixed session with some trading down. In the US markets, the Nasdaq and the S&P 500 saw losses, but the Dow Industrials managed to eke out some gains.
US earnings
There are a few companies to keep an eye on. ARM Holdings saw its stock rise due to positive financial results and increased demand for technology related to artificial intelligence. Coca-Cola is expected to report stronger sales and profit growth in its fourth quarter earnings, which is great news for them. Later in the day, we'll also be keeping an eye on Airbnb and Lyft as they release their earnings.
Bitcoin
In other news, Bitcoin has climbed above $50,000 for the first time since 2022. This has led to gains in the tastylive stock price. Finally, oil prices are rising due to geopolitical tensions, and copper prices are experiencing a slight uptick.
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