On November 27, 2024, the recent cease-fire agreement between Israel and Hezbollah has had a significant impact on global markets. The cease-fire, which is set to last for 60 days and was mediated by the United States, aims to bring an end to the ongoing conflict, as confirmed by President Biden [24fb8b15]. Following this development, Wall Street indices saw gains, with the S&P 500 rising by 0.57% and the Nasdaq increasing by 0.63% [24fb8b15].
In Asia, however, stock performance was mixed. Japan's Nikkei index fell slightly by 0.04% to 38,310, while South Korea's index remained flat, and China's CSI 300 index dipped by 0.21% [24fb8b15]. This divergence in market reactions reflects varying investor sentiments across regions, particularly as traders globally are focusing on upcoming U.S. GDP and consumer spending data, which are crucial indicators of economic health [24fb8b15].
The oil market also reacted to the cease-fire, with Brent crude trading at $72.81 per barrel and WTI at $68.86, indicating a steady state amidst geopolitical tensions [24fb8b15]. The U.S. dollar index remained above 107, and the yield on the 10-year treasury was at 4.30%, reflecting ongoing economic conditions [24fb8b15].
In summary, the cease-fire agreement has led to a positive response in U.S. markets, while Asian stocks displayed mixed results. The focus now shifts to economic indicators that could further influence market dynamics in the coming weeks [24fb8b15].