Morning wrap 05.02.2021

  • US indices finished yesterday’s trading higher. S&P 500 and Nasdaq closed at record highs gaining 1.09% and 1.23% respectively. Dow Jones added 1.08% while Russell 2000 moved 1.98% higher

  • Gains can also be spotted in Asia. Nikkei gained around 1.5%, Kospi and S&P/ASX 200 moved 1.1% higher and indices from China advanced

  • DAX futures point to a slightly higher opening of the European session

  • Joe Biden will meet with Democrat Leaders today to discuss a stimulus deal. Senate is opposed to providing stimulus checks to upper-income taxpayers

  • Fed’s George said that US central bank is still far away from its goals and any discussions on tapering QE are premature

  • According to the Wall Street Journal, Biden administration is considering forgiving student debt via executive action

  • According to the Wall Street Journal, Kia may start building Apple-brand electric vehicles in 2024. Cars would be assembled in Georgia, US

  • Coronavirus pandemic is slowing in the United States and various states decide to remove restrictions on outdoor dining or entertainment activities

  • Precious metals, oil and agricultural commodities are all trading higher

  • Bitcoin trades slightly above $37,000

  • AUD, GBP and CAD are top performing major currencies while CHF and USD lag the most