Trade overview: current reports, trends, indices, stock prices, bonds, foreign exchange and commodities and analyst recommendations
07:45
Today there is no trading in most Asian stock exchanges on the occasion of the Chinese New Year. In China, the holiday will continue throughout the week, in Hong Kong trading will resume on Thursday and the Seoul and Taipei stock exchanges will return to activity on Wednesday. In Tokyo, the Nikkei index rises by 1.3%, the Australian ASX is locked in stability.
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The contracts on Wall Street are stable at this time or register small declines. Investors are preparing to publish reports from some of the technology giants this week. Microsoft Will post after trading on Tuesday, Tesla on Wednesday andIntel on Thursday
It was announced in the foreign media that the activist hedge fund Elliott invested billions of dollars in the software company Salesforce . “We look forward to working constructively with Salesforce to realize the value appropriate for a company of its size,” Jesse Cohen, a managing partner at Elliott, who has also served on the boards of several leading technology companies including Twitter and eBay, told Reuters. Cohen called Salesforce “one of the most prominent software companies in the world.”
In the US government bond sector, yields are weakening this morning after jumping on Friday. The 10-year bond yield drops by 2 points to 3.46%, and the two-year bond yield retreats by a similar rate to 4.16%.
In the commodity market, after increases of about 1% on Friday, American oil drops slightly to 81.4 dollars per barrel and Brent weakens to 87.4 dollars per barrel.
In foreign exchange, the dollar is down about 0.2% compared to its representative rate from Friday and its value is now 3.39 shekels. The euro strengthens by 0.3% compared to the representative rate and rises to 3.70 shekels and the pound also climbs at a similar rate and its rate at this time is 4.22 shekels. Globally – the dollar retreated by about 0.3% against the basket of major currencies, with the euro rising against it by 0.4% and the pound sterling by 0.3%.
In the crypto arena, trading is calm. Bitcoin is quite stable and is trading around $22.7k and Ethereum is trading around $1,634.
This week will be relatively sparse in important macro data. Christine Lagarde, president of the European Central Bank, is expected to speak this evening. In Europe and the US, the purchasing managers’ indices will be published on Tuesday, and on the night between Tuesday and Wednesday, the consumer price indices will be published in New Zealand and Australia. On Thursday, the US will publish an updated growth figure for the last quarter of the year (which is expected to amount to 2.6%) as well as the inflation rate derived from GDP (It is expected to be 3.3%, compared to 4.4% in the previous measurement). On Friday, the Consumer Expenditure Price Index (PCE) will be published in the US, which is expected to indicate the continued moderation of inflation from 4.7% to 4.4%. Later, pending home sales data will be published in the US. In the morning, the consumer price index will be published in Tokyo and an updated growth figure in Spain.