Global Trade Market Dips: Nasdaq, Dow Jones, and S&P 500 Decline; European Markets Mixed; Large Technology Stocks Fuel Positive Forecasts

Small losses on Wall Street; Digital World Acquisition surges 30%

The global trade market is seeing some slight declines on Wall Street and in Europe, with the Nasdaq trading around fundamental levels, the Dow Jones down by 0.4%, and the S&P 500 down by 0.2%. In Europe, the markets are experiencing a mixed lock with the DAX rising by 0.3%, the KAC trading around base levels, and the British FTSE falling by approximately 0.2%.

Investment houses have published optimistic forecasts regarding the S&P 500 index, with Oppenheimer raising its forecast to 5,500 and Goldman Sachs raising it to 6,000. However, this is mainly driven by large technology stocks rather than broader market trends. Lucid Group Trading saw a surge in its share price after receiving a significant capital investment from a Saudi government fund, indicating a strategic move to diversify economic dependence on oil.

The trade war between the US and China is heating up as the Chinese government issues guidelines to block the use of American processors in computers and government servers, impacting companies like Intel, AMD, Microsoft, and others. Boeing’s CEO announced his resignation amidst ongoing issues with the company’s planes, leading to a stock price increase of approximately 3% in pre-trade. The European Union launched a counter-investigation against major tech companies like Alphabet (Google) and Meta Platforms (Facebook) under the Digital Markets Act legislation to ensure a fair and equitable digital market.

In Asia, stock exchanges are trading with mixed trends with indexes like Nikkei down by 1.2%, Hang Seng up by 0.2%, Shanghai Stock Exchange trading at a similar rate, and Kospi index down by 0.2%. Overall, these fluctuations can be attributed to various factors such as political tensions between countries or sector-specific challenges faced by certain companies.

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