Equities mixed after Wall Street extended rally - 22.1.2025

Senior Analyst

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Todays’ Market Summary

The Dollar weakening is intact
Futures on three main US stock indexes are up
Gold prices are edging up currently

Top daily news

Global equity indexes are trading in different directions currently after Wall Street rally continued on Tuesday following inauguration of president Trump the previous day. Apple shares slumped 3.19% underperforming market after Jefferies downgraded it to Underperform from Hold and reduced its price target by 13% to $200.75, SoftBank shares jumped 10.6% after the company announced it’s teaming up with OpenAI, Oracle Corp. and Abu Dhabi-backed MGX on a $500 billion project to build data centers and infrastructure in the US for the ChatGPT creator.

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Forex news

The Dollar weakening is intact today. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, ended 0.1% lower on Tuesday.

Both EUR/USD and GBP/USD slowed their advancing yesterday. Both euro and Pound are higher against the dollar currently. USD/JPY slowed its sliding while AUD/USD slowed its advancing on Tuesday with the yen lower against the Greenback currently and Australian dollar higher still.

Stock Market news

Futures on three main US stock indexes are up currently with the yield on benchmark 10-year US notes up at 4.587%. Stock indexes ended higher again on Tuesday as president Trump announced formation of a new company that includes several partners like OpenAI, Nvidia, Arm , Microsoft, and Oracle, called The Stargate Project, which will invest $500 billion in new US-based infrastructure over the next four years.

European stock indexes are mixed currently after closing higher on Tuesday while the Office for National Statistics reported UK November payroll figures fell by 0.1% compared to October, pointing to a weakening labor market. Asian indexes futures are mixed today with Japan’s Nikkei leading gains after Trump again vowed to hit the European Union with fresh levies as he said his administration was discussing imposing a 10% tariff on goods from China on February 1.

Commodity Market news

Brent is edging higher currently. Prices extended losses yesterday on expectation of oversupply this year after US President Donald Trump declared a national energy emergency on his first day in office vowing to boost US output. The US oil benchmark West Texas Intermediate (WTI) lost 2% but are higher currently. Brent fell 1.1% to $79.29 a barrel on Tuesday.