{"id":114226,"title":"What happened overnight – 8th May 2024","publisher":"Share Talk","author":"sharetalk","published":"2024-05-08T06:41:11+00:00","modified":"2024-05-08T06:41:11+00:00","canonical_url":"https://www.share-talk.com/what-happened-overnight-8th-may-2024/","markdown_url":"https://www.share-talk.com/what-happened-overnight-8th-may-2024.md","json_url":"https://www.share-talk.com/what-happened-overnight-8th-may-2024.json","category":"B2B","categories":["B2B","Blogs","Business & Support Services","Technology","Technology, Media & Telecoms"],"tags":["Asian","Dow Jones Industrial Average","Hang Seng","Hong kong","Nasdaq Composite index","S&P 500","South Korea","Stock Markets","Taiwan","Tokyo","US stocks","US Treasury bonds","Wall Street"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2024/04/WORLD-750x406-1.webp?fit=750%2C406&quality=80&ssl=1","format":"news","language":"en-GB","content":"Asian markets declined and the U.S. dollar gained strength as investors navigated uncertain signals from U.S. economic indicators and Federal Reserve policy regarding future interest rates.\n\nThe Japanese yen weakened despite potential interventions by Japanese authorities aimed at bolstering the currency.\n\nCrude oil prices remained near their two-month lows, influenced by indications of diminishing supply constraints and ongoing optimism for a ceasefire in the Middle East.\n\nThe MSCI index of Asia-Pacific shares outside Japan dropped by 0.4%, with China’s top stocks and Hong Kong’s Hang Seng Index each falling roughly 0.6%.\n\nJapan’s Nikkei index fell by approximately 1.4% as investors took profits after a 1.6% rise in the previous session. The index, which is heavy with technology stocks, also faced downward pressure following a decline in U.S. semiconductor stocks on Tuesday.\n\nIn the U.S., the Dow Jones Industrial Average of 30 major companies slightly rose by 0.1% to 38,884.26. The broader S&P 500 index increased by 0.2% to 5,187.70, while the technology-centric Nasdaq Composite index slightly decreased by 0.1% to 16,332.56.\n\nMinneapolis Federal Reserve President Neel Kashkari indicated that the Federal Reserve might need to avoid cutting interest rates this year due to persistent inflation.\n\nThe yield on 10-year U.S. Treasury bonds dropped to 4.45% from 4.49% at the close of Monday."}