Asian markets opened the day on a positive note, with most indexes looking like they will have five days straight of gains, heading for their best week in 2023. Whilst the news around the US’ easing inflation gave the biggest boost to the markets, domestic economic news helped to further add traction, including Singapore’s narrowly dodged recession. The financial sector has been the thorn in 2023’s market performance, and with some major US banks posting earnings today, their profits or losses could be the deciding factor behind the week closing on a positive or more gloomy note.
One of America’s largest airlines, Delta, announced their best ever quarterly profits yesterday. Their increased profits are down to a combination of bumper June ticket sales and a reduction in fuel costs. Delta’s share price went up 2% in response, hitting highs of nearly two years. This Delta announcement echoes a wider trend in the airline sector, with Whizz Air, Ryanair and EasyJet shares all up by nearly 50% for the year. American Airlines is due to post their earnings next week which many hope is similarly successful.
The company that owns Google, Alphabet, saw a huge rise in their share price yesterday, after announcing improvements to their own chatbot, named Bard. According to Google, Bard is available in over 40 languages around the world. The new features include making Bard a little more sensitive to tone, so he can adjust the formality accordingly. He will also be able to play responses out loud in the 40 languages he’s currently fluent in, as well as describe photos uploaded into the chat bot.
Sources: Nasdaq, Yahoo Finance, Financial Times, Reuters, IG