What’s happening in the markets - 16 Apr
Daily Sprout 🌱 (16 Apr)
US stocks closed lower as stronger than expected retail sales data led to concerns that inflation will stay persistent. The US 10-year government bond yield reached a new 2024 high of above 4.6%.
STI ⬇️ 1.04% HSI ⬇️ 0.72% NKY ⬇️ 0.74%
S&P 500 ⬇️ 1.20% Nasdaq ⬇️ 1.79% DJIA ⬇️ 0.65%
What's Sprouting
🌱 Singapore Airlines’ passenger load factor fell by 1.3 percentage points year-on-year to 87.7% in March. However, cargo loads rose by 15.6% year-on-year due to increased inventory flows by shippers as well as charters for various entertainment events.
🌱 Tesla is slashing its headcount by more than 10% employees in a global retrenchment with slowing demand for electric vehicles. Tesla had 140,473 employees globally as of December 2023.
🌱 New private home sales rebounded to 718 units in March from 153 units in February, with the launch of two major projects - Lentor Mansion and Lentoria.
Source: SGX, Bloomberg
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