Read this before you start trading today!
US indices finished yesterday’s trading mixed. Dow Jones gained 0.97%, S&P 500 dropped 0.54%, Nasdaq slumped 2.41% and Russell 2000 added 0.49%
Stocks in Asia traded mixed today. Nikkei gained 1% and S&P/ASX 200 moved almost 0.5% higher. On the other hand, Kospi trades 0.4% lower and indices from China decline
DAX futures point to a slightly higher opening of the European session
Janet Yellen said that there are tools to combat price growth in case recovery turns out to be inflationary. She also said that labour market may recover to pre-pandemic levels next year
Speaker Pelosi said that House may vote on Biden’s $1.9 trillion stimulus tomorrow instead of today
Goldman Sachs boosted US 10-year yield forecast for end-2021 from 1.5 to 1.9%
Japan’s household spending dropped 6.1% YoY in January (exp. -2.1% YoY)
Japan’s wages declined 0.8% YoY in January (exp. -1.7% YoY)
Japan’s final GDP data for Q4 2020 showed growth of 2.8% QoQ (first release at 3% QoQ)
Cryptocurrencies are on the move with Dash gaining over 9%, Litecoin jumping almost 6% and Bitcoin trading 5% higher
Precious metals gain with platinum and silver being top performers. WTI and Brent trade around 0.5% higher
AUD and GBP are top performing major currencies while JPY and USD lag the most
Nasdaq-100 (US100) slumped almost 3% yesterday amid heavy rotation out of tech and into value. Downward move was halted at the 50% retracement of the upward move started in September (12,280 pts). Index is trying to recover today.