Nike has dropped to lows unseen since November of 2020 as it faces a boycott in China over Xinjiang's cotton issues.
Nikkei 225 soars in Asia
On Monday, Asian equities grew in thin trading with several regional markets unavailable, including India and China, and minor regional equity reaction to the recent independence referendum in Spain.
The Nikkei 225 inched up 0.16%, Australia's S&P/ASX 200 rallied 1.05%. As for financial markets in Shanghai, South Korea, India and Hong Kong, they were unavailable due to holidays.
The Bank of Japan issued its Tankan poll for the third quarter with market participants closely watching the large manufacturers index because it grew to 22 versus an expected outcome of 18. Additionally, this week traders hope Fed Chair Janet Yellen will offer further hints on the timing of the next rate lift in addition to Friday’s American jobs report.
On Wednesday, market watchers are going to look ahead to remarks by ECB Governor Mario Draghi.
On Monday, Chinese financial markets will be unavailable for a holiday along with India, South Korea and Hong Kong.
Great Britain is expected to issue a report on manufacturing activity.
Chinese stocks were pressed by the US plans to kick them off US stock exchanges. Alibaba has already plunged by 4% in pre-market hours.
Bitcoin skyrocketed 5% after Tesla’s founder Elon Musk officially announced it will accept the cryptocurrencies as payment.
US retail sales will be out on Thursday, April 15, at 15:30 MT. It is a significant release for traders as it will impact the US dollar.
As the earnings season kicks in, JPMorgan is the first to impress us with the better-than-expected data!
The Reserve Bank of New Zealand will hold a meeting on Wednesday, April 14, at 05:00 MT.