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ECB Governing Council member Stournaras: The conflict with Iran could have significant macroeconomic impacts.According to Politico: U.S. lawmakers are discussing energy licensing reform.U.S. Energy Secretary Wright: The United States is the worlds largest producer of oil and natural gas. We are also the largest exporter of natural gas and a major oil exporter. To be clear, the government has no plans to implement restrictions on oil and natural gas exports.Microsoft (MSFT.O) CEO: Our new image generator, MAI-Image-2, has been released and is now available on MAIPlayground. It offers everything from realistic graphics to detailed infographics, and we are now among the top models.On March 20th, the Iranian Islamic Revolutionary Guard Corps (IRGC) issued a statement on March 19th, local time, stating that during the 65th round of Operation "True Commitment-4," Iranian missiles struck Israeli oil refineries in Haifa and Ashdod, as well as multiple security targets and military support centers in the region. This round of operations marked the first time Iran used an upgraded version of the Qader missile. Additionally, Iranian Giammar and Zulfagal missiles struck targets at the Prince Sultan Air Base in Saudi Arabia and the US military base in Sheikh Isa, Bahrain. Iranian Qader MIRV missiles, Haibar Shekan missiles, Giammar missiles, and Zulfagal missiles also struck the US military base in Al Dhafra in the United Arab Emirates. On the evening of March 19th, local time, air raid sirens sounded in several areas of northern Israel. The Israel Defense Forces (IDF) stated that it had detected Iranian missile launches towards Israel, and its air defense systems were operational. The IDF instructed local residents to move to safe zones and remain there until further notice.

Hang Seng Index, ASX200, Nikkei 225: Markets Find Brief Relief

Jimmy Khan

Feb 28, 2023 15:37


Industry Snapshot

Tuesday's early trading period for the Hang Seng Index and the larger Asian markets was positive. This morning, the Asian markets followed the Dow and the NASDAQ Composite Index into the green.


Riskier assets received support from US economic data on Monday, as the crucial Goods Orders Non-Defense Ex Aviation increased by 0.8% in January, correcting a 0.3% decline from December.


The recent decline in crude oil prices has given rise to expectations that US inflation will experience a brief hiccup in January. However, with the US jobless rate at 3.4% and high US inflation, the Fed's conservatives will have a strong influence in the upcoming sessions. Anxiety of making a mistake would prefer an over-tightening and a gentle landing over abandoning the fight against inflation, which would support a more aggressive direction for interest rates.


Growing global conflict between the US and China has dampened expectations for a strong first quarter for the Hang Seng Index based on the China reopening narrative. Russia-China relations over Ukraine continue to be of worry.


Mixed regional economic data this morning limited the gains due to persistent challenges in the global stock markets. Consumer purchasing pleased, continuing a pattern seen in Europe and the US, while industrial sector statistics showed warning.


The NASDAQ Composite Index increased by 0.63% on Monday, while the Dow Jones and S&P 500 both saw increases of 0.22% and 0.31%, respectively. The US Futures provided assistance this morning. The NASDAQ mini increased by 41 points while the DJI mini gained 50 points.



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