Major US exchanges, including the New York Stock Exchange and Nasdaq 100, fully closed equity and options markets Thursday to observe a National Day of Mourning in honor of former US President Jimmy Carter. In economic updates, the Philadelphia Federal Reserve's December manufacturing index was revised up to minus 10.9 from the previous minus 16.4.
This data followed a revised minus 4.4 in November, reflecting a gradual improvement despite remaining negative territory. The January Philadelphia Fed manufacturing index is set to be released on January 16. In the realm of employment, outplacement firm Challenger, Gray & Christmas reported that companies planned to cut 38,792 jobs in December.
This figure shows a decline from the 57,727 job cuts reported in November, but it remains higher than the 34,817 cuts recorded in the same month a year earlier. Turning to the oil market, February West Texas Intermediate crude oil experienced a rise of $0.87, closing at $74.19 per barrel. Meanwhile, March Brent crude, recognized as the global benchmark, was recorded up $0.99 reaching $77.15 due to tight supply and a decline in U.S.
inventories. In technology news, the Dutch government has initiated discussions with Nvidia and Advanced Micro Devices regarding the establishment of an artificial intelligence facility in the Netherlands. This initiative underscores the growing interest and importance of AI in global markets. Additionally, Super Micro Computer has commenced volume shipments of new high-performance servers that come equipped with Intel's Xeon 6900 series processors.
This development indicates a significant step forward in server technology as businesses increasingly demand robust computing capabilities. Moreover, the Biden administration is reportedly preparing for one more round of restrictions on the export of artificial intelligence chips, as reported by Bloomberg.
This move can have significant repercussions across tech industries dependent on these components..