- This week marks the start of the earnings season in the US.
- After initial negative sentiment and nervous reactions related to the turmoil surrounding Fed Chair Jerome Powell, Wall Street is trying to move on. The indices have managed to recover their losses. The S&P 500 is up around 0.1%, Nasdaq is rising by 0.4%, while the Dow Jones is hovering around its previous close.
- European markets closed mostly in positive territory. Germany’s DAX rose by 0.5%, the UK’s FTSE 100 gained just over 0.1%, similarly to Spain’s IBEX 35, and the Netherlands’ AEX increased by more than 0.5%. France’s CAC 40 ended the session slightly lower.
- The main event of the day is the opening of a new front in the conflict between Fed Chair Jerome Powell and the US administration. The Department of Justice has launched an investigation into him regarding a costly Fed building renovation project.
- On the foreign exchange market, the dollar has weakened significantly against other currencies due to political turmoil. EUR/USD is up around 0.3%, and GBP/USD has risen by nearly 0.5%.
- On the commodities market, the wave of gains continues. Gold is up more than 2% today, breaking the 4600 USD per ounce level. Silver is gaining even more, rising over 6.5% to reach 85 USD per ounce. Palladium is up more than 2%, trading around 1800 USD per ounce, while platinum has risen over 3%, testing the 2340 USD level.
- In the cryptocurrency market, positive sentiment is visible. Bitcoin is up around 1.5%, approaching the 92,000 USD level, while Ethereum is gaining only 0.3%, trading at 3110 USD.
- In the energy market, natural gas contracts are performing the best, rising by more than 7.5%. Brent crude is up 0.7%, and WTI is up 0.5%.
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