Wall Street extends gains, eyes on Warner Bros and Booking earnings

By Farah Mourad | 23 February 2024

Market close
  • The US dollar declined moderately

  • WTI crude oil prices dipped on anticipation of a Gaza ceasefire

  • Earnings from Warner Bros and Booking Holdings in the spotlight

he European equity markets wrapped up today's trading session on a positive note, with gains across the board. Particularly noteworthy was the performance of the German DAX, which saw a slight uptick following the release of Germany's final GDP reading for Q4 2023. This economic indicator, aligning with expectations, revealed a year-on-year decline of -0.4%, reflecting the prevailing economic conditions.

Across the Atlantic, the US market experienced a moderate decline in the dollar's value today. This dip comes amidst a period of intensive analysis of data releases and Federal Reserve commentary throughout the week.

Concurrently, the price of WTI crude oil is exhibiting a downward trend, hovering around the $77 mark. The primary factor influencing this movement is the anticipation of a potential ceasefire in Gaza over the upcoming weekend, leading to market adjustments and investor sentiment shifts.

On Wall Street, the indices continued their upward trajectory, extending the ongoing rally. The S&P 500, Nasdaq, and the Dow Jones all commenced the session with gains, reflecting overall positive market sentiment as investors focus on earnings from Warner Bros and Booking Holdings. However, the small-cap Russell 2000 index lagged behind, experiencing a slight decline of 0.1% at the session opening.