Asian Stock market: Nikkei extends rally despite volatility in S&P500 futures, oil rebounds from $80.00

are facing pressure as Microsoft missed the estimates and a technical glitch in NYSE on Tuesday has triggered volatility in the S&P500 futures.

At the press time, Japan’s Nikkei225 gained 0.43%, KOSPI surged 1.30%, and Nifty50 drops 0.67% while Chinese and Hong Kong markets are closed on account of the Lunar New Year. has sensed rejection from the 101.50 resistance and is expected to resume its downside journey. However, investors should brace for topsy-turvy moves by the USD index ahead of the release of the Gross Domestic Product data. On Tuesday, the USD Index displayed sheer Manufacturing PMI landed at 46.

will have to wait until August to gain good insight into whether wage increases are gaining traction.front, closed production activities in China due to Lunar New Year celebrations resulted in a sell-off on Tuesday. However, the oil price is showing signs of recovery after dropping to near $80.00 amid growing supply worries. US President Joe Biden is considering refilling the Strategic Petroleum Reserve after exploiting it significantly to combat rising oil prices in CY2022.

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Source: CNBC - 🏆 12. / 72 Read more »