Japan’s stock market has been on a winning streak, gaining over 6% in recent days, with the Nikkei 225 index hovering above 36,450 points. The positive momentum is expected to continue into Friday, buoyed by strong performances in oil and technology sectors globally. European and U.S. markets closed higher, setting a positive tone for Asian markets.
On Thursday, the Nikkei surged over 400 points, driven by gains in automobile companies, while financial and technology stocks showed mixed results. Notable performers included Nissan Motor, Toyota Motor, Softbank Group, and Mitsubishi Electric. Overall, the market closed at 36,452.30 after a day of fluctuating trading.
Wall Street also saw gains, with the Dow, NASDAQ, and S&P 500 all finishing in positive territory. The upbeat mood was fueled by strong earnings reports from tech giants like Microsoft and Meta Platforms, which exceeded expectations. However, market enthusiasm waned as economic data revealed a rise in jobless claims, tempering overall sentiment.
Meanwhile, crude oil prices experienced volatility but ultimately rose following President Donald Trump’s threat of sanctions on countries buying Iranian oil. This geopolitical development influenced market movements, with West Texas Intermediate crude reaching $59.24 per barrel.
Looking ahead, Japan is set to release key economic data, including unemployment figures for March and monetary base data for April. Analysts anticipate steady unemployment rates and a slight increase in the jobs-to-applicant ratio. The monetary base is expected to show a decline year-over-year, following a previous drop in March.
As the global markets continue to navigate economic uncertainties and geopolitical tensions, investors are closely monitoring developments for potential impacts on various sectors. The views expressed in this analysis reflect the author’s perspective and may not necessarily align with those of Nasdaq, Inc.
Founded in the late 1990s, RTTNews has evolved into a trusted source of financial content, catering to a diverse audience of investors and institutions worldwide. With a focus on delivering timely and relevant news across multiple platforms, RTTNews remains a go-to resource for financial insights and market updates.