Latest Trends in Today’s Trading Session and Market Insights

Latest Trends in Today's Trading Session and Market Insights

Latest Trends in Today’s Trading Session and Market Insights:

πŸ‘‹ Hey traders, welcome to Tuesday’s trading session! Let’s dive into the latest news shaping the financial markets today.

β˜„οΈThe US and its allies invest heavily in advanced chip production, aiming to surpass China. They allocate almost $81 billion to this semiconductor race.

πŸ‡ͺπŸ‡Ί The ECB is cautious about cutting rates due to strong wage growth, notably a 4.8% surge in Germany, which risks keeping inflation above 2%.

πŸ‡―πŸ‡΅ Japanese 20-year bond yields hit a decade high of 1.77%, driven by BOJ moves to reduce bond purchases amidst possible yen depreciation.

πŸ“ Sony reported a 7% decline in annual operating profit and narrowly missed its revised PlayStation 5 sales target. Sony shares are up 1.02%.

πŸ“ˆ Chinese tech stocks are surging ahead of Tencent and Alibaba’s earnings reports today. Tencent shares jumped 11.02%, while Alibaba shares rose by 5.68%.

πŸ‡¬πŸ‡§ The UK unemployment rate has risen to 4.3%, the highest since last summer, potentially prompting the Bank of England to consider interest rate cuts.

πŸ’‘ OpenAI has unveiled the new GPT-4o model and introduced a desktop version of ChatGPT, offering GPT-4 free for all users.

πŸ’° Retail participation in the current Bitcoin rally remains subdued. Coinbase’s trading volumes stand at $56 billion, significantly lower than the $133.75 billion peak in 2021.

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