• Thu. Feb 29th, 2024

Asia Markets Close for Chinese New Year, Wall Street Mixed; US Futures Trading Slightly Lower; Israel’s Beamr Stock Soars after Nvidia Collaboration


Feb 13, 2024
Japanese Nikkei Index Surges 3% and Sets New Record

In Asia, the stock markets in China are closed on Tuesday for the Chinese New Year. In Japan, the Nikkei is up about 3% at this hour, trading at a new record high of 38,000. The Kospi index rises by 0.8%. US futures are trading slightly lower this morning.

Last night on Wall Street, the main indices closed in a mixed trend. The Nasdaq fell 0.3%, the S&P500 lost 0.1% and the Dow Jones added 0.3%, breaking an all-time high. Meanwhile, stock nature jumped by 7.5% after Piper Sandler upgraded their recommendation on the stock to ‘overweight’ from ‘neutral’.

The share of the Israeli company Beamr jumped during trading on Monday by about 1500% after it reported a collaboration with the chip giant Nvidia. The company from Tel Aviv was issued a year ago when it raised 7.8 million dollars at a value of about 48 million dollars. At the end of trading (Monday) the increases in the stock moderated and it closed with a jump of about 400%. The company’s market value was $129 million at the close on Wall Street.

In Israel, oil prices are trading slightly higher today as well as globally with Brent barrel price reaching $82 dollars today while Dr Michael Bafman predicts volatility in oil prices to remain high due to security events in Middle East region .

Today we have important data coming out: Unemployment data in Great Britain and consumer price index in Switzerland are expected to be published and inflation data in USA is expected to be published at 15:30 Israel time which will give investors more insights into how these countries’ economies are performing

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