Japan’s exports accelerated in January, led by a rise in Chinese demand, and manufacturers’ sentiment turned positive for the 1st time since Y 2019 signaling a recovery from last year’s VirusCasedemic deep dive.
Core machinery orders, a Key leading indicator of capital spending, rose in December, an encouraging sign for a private sector-led recovery, even as renewed curbs to contain the virus weighed on business activity.
The Key indicators followed Q-4 GDP data Monday that showed Japan’s economy grew more than expected
Japanese stocks rose to a 30-year high Tuesday as progress in the distribution of virus vaccines boosted expectations that the global economy is set for a strong recovery.
The Nikkei 225 Index ended up 1.28% at 30,467.75, closing at its highest since August 1990.
The broader TOPIX rose 0.57% to 1,965.08 and marked its highest since June 1991.
Tuesday, the benchmark US stock market indexes finished at: DJIA +64.35 at 31522.75, NAS Comp -47.97 at 14047.52, S&P 500 -2.24 at 3932.59
Volume: Trade on the NYSE came in at 1.0-B/shares exchanged
HeffX-LTN’s overall technical outlook of the US major stock market indexes is Bullish with a Very Bullish bias in here.
- Russell 2000 +15.1% YTD
- NAS Comp +9.0% YTD
- S&P 500 +4.7% YTD
- DJIA +3.0% YTD
Looking Ahead: Wednesday investors will receive Retail Sales for January, the Producer Price Index for January, Industrial Production and Capacity Utilization for January, the FOMC Minutes, the NAHB Housing Index for February, Business Inventories for December, and the wkly MBA Mortgage Applications Index.
Have a healthy day, Keep the Faith!