Equities pause after fresh records - 9.2.2021

Senior Analyst

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Todays’ Market Summary

The Dollar weakening is intact currently
Futures on three main US stock indexes are marginally lower currently
Gold prices are extending gains today

Top daily news

Stocks are mostly advancing currently after Wall Street closed at all-time highs on Monday. Shares of Telsa tacked 1.3% Monday after company confirmed it had invested around $1.5 billion in Bitcoin and would begin accepting payment in Bitcoin for its cars, Bitcoin jumped over 20% briefly passing $47,000 for the first time.

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Forex news

The Dollar weakening is intact currently . 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, slipped 0.04% Monday.

GBP/USD continued retreating Monday while EUR/USD continued climbing despite Destatis report Germany’s industrial production was unchanged in December, weaker than the 0.3% gain forecast. Both Euro and Pound are higher currently against the Dollar. AUD/USD’s climbing slowed yesterday while USD/JPY continued sliding with the dynamics intact for both pairs currently.

Stock Market news

Futures on three main US stock indexes are marginally lower currently after ending at all time highs Monday as Treasury Secretary Janet Yellen said the United States could return to full employment next year if Congress approves the president’s $1.9 trillion fiscal aid package. The three US main stock benchmarks recorded gains ranging from 0.7% to 1.0% led by energy shares as analysts estimate the SP 500 aggregate fourth quarter earnings will come in 2.4% higher over year.

European stock indexes are down currently after ending higher yesterday. Asian indexes are mostly advancing today with Australia’s All Ordinaries ASX 200 Index leading losses despite National Australia Bank report Australian businesses are feeling more confident in January.

Commodity Market news

Brent is extending gains today ahead of data from the American Petroleum Institute later today. Oil prices closed solidly higher Monday supported by expectations of global oil demand recovery. Market participants deemed keeping its monthly crude prices to Asia unchanged by Saudi Arabia last week as a sign of higher global demand expectations by the largest global crude oil exporter. The US oil benchmark West Texas Intermediate (WTI) rose 2%. Brent crude gained 2.1% to $60.56 a barrel on Monday.