Issue link: https://maltatoday.uberflip.com/i/1496582
Name Current Change %Change Open High Low Prev. Value Close US MARKETS DOW JONES 33,852.53 3.07 0.01 33847.80 33933.91 33662.45 33849.46 NASDAQ 10,983.78 -65.72 -0.59 11060.02 11086.02 10944.37 11049.50 EUROPEAN MARKETS FTSE 7,584.03 72.03 0.96 7512.00 7584.53 7512.00 7512.00 CAC 6,722.47 53.50 0.80 6706.67 6734.86 6678.75 6668.97 DAX 14,392.64 37.19 0.26 14429.22 14487.70 14363.32 14355.45 ASIAN MARKETS SGX Nifty 18,894.00 -22.50 -0.12 18916.50 18926.50 18892.00 18916.50 NIKKEI 225 27,968.99 -58.85 -0.21 27886.67 27972.89 27802.71 28027.84 STRAITS TIMES 3,290.49 14.13 0.43 3279.86 3290.56 3270.03 3276.36 HANG SENG 18,597.23 392.55 2.16 18141.56 18645.35 18052.32 18204.68 TAIWAN WEIGHTED 14,879.55 169.91 1.16 14678.23 14879.55 14678.23 14709.64 KOSPI 2,472.53 39.14 1.61 2424.44 2472.53 2421.42 2433.39 SET COMPOSITE 1,635.36 10.97 0.68 1626.14 1636.08 1622.24 1624.39 JAKARTA COMPOSITE 7,081.31 69.24 0.99 7012.11 7081.31 6993.70 7012.07 SHANGHAI COMPOSITE 3,151.34 1.59 0.05 3141.40 3158.57 3137.37 3149.75 6.4.2023 7 MARKETS International Markets Global Indices Trading Date: 5 Apr 2023 Stocks are trying to cancel the recession. Wall Street isn't so sure. THE stock market has proven resilient in the face of bank failures, macro uncertainty, and ultra-high interest rates so far in 2023. e S&P 500 (^GSPC), Dow Jones Industri- al Average (^DJI), and Nasdaq Composite (^IXIC) are all in positive territory since the start of the year. at follows a rough end to 2022, when the Dow, S&P 500, and tech-heavy Nasdaq plunged 9%, 19.4% and 33%, respectively, marking the worst annual performance for stocks since 2008. But investors may want to hold off on the enthusiasm. e recent crisis surrounding regional banks, as well as new economic data, has prompted fresh worries of a re- cession ahead from some on Wall Street. at could be a buzzkill for stocks. "e Fed indicated no intention to cut interest rates this year, yet risk assets are exhibiting an unprecedented rally, with European stocks trading near all-time highs and U.S. stocks recovering recent losses," JPMorgan analyst Marko Kolanovic wrote in a note to clients earlier this week. "We expect a reversal in risk sentiment and the market retesting last year's low over the coming months," the an- alyst said, predicting the stock market is operating in a "calm before the storm" period. 'Market's odds of a recession have increased' JPMorgan Chase (JPM) CEO Jamie Dimon said in his annual letter to shareholders on Tuesday "the current cri- sis is not yet over," referencing the stunning collapse of Silicon Valley Bank, which sent shockwaves throughout the entire financial system. "ere will be repercussions from it for years to come," Dimon warned, although he said this isn't a repeat of the 2008 financial crisis, when mortgages held by global fi- nancial institutions went bad. "is current banking crisis involves far fewer financial players and fewer issues that need to be resolved." Still, the executive cautioned recent bank failures "have significantly changed the market's expectations" as "the market's odds of a recession have increased." Dimon's comments come as Minneapolis Fed President Neel Kashkari echoed similar sentiments on CBS' "Face e Nation" last weekend, saying recent banking stresses "definitely brings us closer right now" to a recession. "What's unclear for us is how much of these banking stresses are leading to a widespread credit crunch. And then that credit crunch, just as you said, would then slow down the economy," he said, noting it's too soon to tell what impact the crisis could have on future interest rates decisions or the broader economy.