Issue link: https://maltatoday.uberflip.com/i/1461072
Name Current Change %Change Open High Low Prev. Value Close US MARKETS NASDAQ 13,037.49 -344.03 -2.57 13511.75 13533.78 13032.17 13381.52 EUROPEAN MARKETS FTSE 7,251.31 -246.87 -3.29 7498.18 7498.18 7243.44 7498.18 CAC 6,451.79 -328.88 -4.85 6496.25 6617.09 6433.51 6780.67 DAX 13,854.52 -776.84 -5.31 13989.41 14221.71 13826.70 14631.36 ASIAN MARKETS SGX Nifty 16,141.00 -109.00 -0.67 17052.50 17115.00 15500.50 17063.00 Nikkei 225 25,970.82 -478.79 -1.81 26281.35 26357.58 25775.64 26449.61 Straits Times 3,276.06 -116.94 -3.45 3351.24 3363.17 3248.93 3393.00 Hang Seng 22,901.56 -758.72 -3.21 23268.03 23376.37 22786.39 23660.28 Taiwan Weighted 17,594.55 -461.18 -2.55 17939.53 17939.53 17561.07 18055.73 KOSPI 2,648.80 -70.73 -2.60 2689.28 2694.55 2642.63 2719.53 SET Composite 1,662.72 -33.73 -1.99 1683.92 1690.50 1656.62 1696.45 Jakarta Composite 6,817.82 -102.24 -1.48 6912.48 6929.91 6758.86 6920.06 Shanghai Composite 3,429.96 -59.19 -1.70 3474.37 3486.98 3400.21 3489.15 17.3.2022 7 MARKETS International Markets Global Indices Trading Date: 16 March 2022 US stocks rally ahead of expected Fed rate hike THE three main Wall Street stock indices rallied yesterday, a day before an expected interest rate increase by the US Fed- eral Reserve, while oil prices dropped nearly 7% on hopes of an end to the conflict in Ukraine. e Dow Jones Industrial Average rose 599.1 points, or 1.82%, to 33,544.34, the S&P 500 gained 89.34 points, or 2.14%, to 4,262.45 and the Nasdaq Composite added 367.40 points, or 2.92%, to 12,948.62. e S&P 500 slumped about 2.4% in the prior three ses- sions and recently joined the Dow, Nasdaq and Russell 2000 in forming a "death cross" technical pattern, when a short- term moving average crosses below a longer-term moving average, which some investors believe signals more near- term weakness is likely. Ten of the 11 major S&P sectors advanced, with technolo- gy and consumer discretionary stocks leading the way while energy, the sole positive sector on the year, slumped nearly 4% on the day along with crude prices. Volume on US exchanges was 13.46 billion shares, com- pared with the 13.78 billion average for the full session over the last 20 trading days. Advancing issues outnumbered declining ones on the NYSE by a 2.07-to-1 ratio; on Nasdaq, a 1.72-to-1 ratio fa- voured advancers. US air carriers were standouts, with American Airlines and Delta Air Lines both up more than 8% after lifting their rev- enue forecasts in light of recovering demand following the latest Covid-19 wave in the country. But petroleum-linked equities – which have had a banner performance for much of 2022 – suffered, with Chevron los- ing 5% and Halliburton dropping 4.3%. Investors are expecting the US central bank to raise inter- est rates for the first time in three years by at least 25 ba- sis points amid surging prices. Traders will also be close- ly watching the Fed for details on how it plans to end its bond-buying programme. "I think the big event this week is going to be Fed discuss- ing what they're going to do with the portfolio and how fast they're going to move. e expectation in the short term of course is going to be the raising of the rates by a quarter of a percent," said Tom Plumb, portfolio manager at Plumb Bal- anced Fund in Wisconsin. "What you're seeing is relief rally in a bear market. ere's hopes and expectations that something will start resolving in Ukraine," Plumb added. European stocks, which had been rebounding in recent sessions, dipped after China reported a jump in coronavirus cases and new restrictions. e ongoing war in Ukraine also weighed on European shares despite continuing ceasefire talks and some positive signs of a breakthrough. e pan-European Stoxx 600 index lost 0.28% and MS- CI's gauge of stocks across the globe gained 0.94%. MSCI's broadest index of Asia-Pacific shares outside Japan had closed 2.73% lower overnight. Traders working on the floor of the NYSE