2024-01-15 08:33:00
Trade review: current reports, trends, indices, stock prices, bonds, foreign exchange and commodities and analyst recommendations
08:28
In Asia, the trading week opened with gains. In China, the Shanghai index rose by 0.3% and the Hang Seng index by 0.2%, in Japan the Nikkei index increased and rose by 1% this morning. The South Korean Kospi is down 0.1%.
The indices in China are weighed down by falling technology stocks. Shares of Chinese search engine company Baidu, which is traded on Wall Street, are shedding about 10% following a report linking its artificial intelligence bot to the Chinese military, which could lead to sanctions by the United States.
● The stock market that broke a 34-year record and caught the attention of Warren Buffett
Today, Martin Luther King Day in the USA, there will be no trading on Wall Street.
Later this week, the fourth quarter reports will be published Goldman Sachs Group andCharles Schwab Last Friday, with the opening of the report season, some of the major banks published their reports, Wells Fargo, Bank of America, Citigroup, J.P. Morgan Chase, the latter posted a record profit of approximately 50 billion dollars and Citi announced layoffs of 20 A thousand workers.
Another company that published a report on Friday is Delta Airlines the report was a disappointment and the stock, which fell by 9%, also dragged down its competitors, United Airlines Holdings and American Airlines.
In the debt market last Friday, the American government bond traded down about 3 basis points, 3.95%. The two-year bond traded unchanged at 4.14%.
In the commodity market, the price of oil continued to be affected by the Houthi attacks in the Red Sea, and on Friday a barrel of Brent oil traded at $77.65, an increase compared to the day before, but a moderate decrease compared to the previous week.
Bitcoin traded at $42,500 this morning after last week it soared to about $49,000 following the approval of the ETFs on the currency’s immediate prices and the launch of the ETFs themselves.
● “Buy on the rumor, sell on the knowledge”: behind the fall of Bitcoin at the end of the week
Macro: In China, surprisingly, the central bank left interest rates unchanged. Against the central bank are rising inflation and further weakening of the local currency.
Last week, the consumer price index was published in the US. Inflation rose in December to 3.4%, higher than the forecasts of 3.2%, and core inflation fell from 4% to 3.9%, a more moderate drop than the economists’ forecasts to 3.8%. In Israel it will be published this week (b) The consumer price index for the month of December.
Alex Zebzinski, Chief Economist at the Meitav Tzofa Investment House, observes, according to his weekly review, that the chance of a FED interest rate cut in March has decreased in the last week and is significantly lower than the estimates in the markets. “The approximation of the market forecasts to the FED forecast is expected to lead to an increase in the bond yield. The ECB is under no pressure to lower interest rates. The chance of an interest rate increase in Japan has greatly diminished.”
In the coming week, various macro data will be published in the world, including industrial production in the Eurozone, the unemployment rate in Great Britain and China, consumer price indices in the Eurozone, Germany, Great Britain and Canada, retail sales in the USA, sales of existing homes in the USA and industrial production in Japan.
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