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American indices are opening the new week bullishly, mainly driven by technology companies, particularly the semiconductor sector. S&P500 is gaining 0.7%, Nasdaq is rising 1.15%, DJIA is adding 0.35%, and Russell 2000 is recording an increase of 0.55%.
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Solid gains are also being recorded by companies in the materials sector after Donald Trump announced tariffs on steel and aluminum (including on the EU).
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Merck KGaA is in advanced negotiations to acquire Springworks Therapeutics (SWTX.US). According to sources familiar with the matter, the transaction could be finalized in the coming weeks, although the terms of the potential deal have not been disclosed. Springworks shares are up nearly 36% today.
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The European Commission has announced a response to the aforementioned tariffs, deeming them unlawful and unproductive, but has not specified measures before the official implementation of trade barriers.
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Indices in Europe are also rising despite tariff threats. The DAX is not slowing down even for a moment (+0.57%), while the French CAC40 is also growing (+0.4%), as well as the British FTSE 100 (+0.77%) and the Italian FTSE MIB (+0.5%).
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In the FX market, the Australian dollar (AUD) and the New Zealand dollar (NZD) are gaining the most, strengthening against most G10 currencies. The dollar index (USDIDX) opened the week strongly thanks to new tariff announcements (+0.22%). Despite this, the euro is strengthening against the dollar (+0.18%), partly due to the speech by ECB President Christine Lagarde in the European Parliament, where she emphasized that the fight against inflation is not yet over and that conditions for economic recovery in the eurozone are in place.
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Gold has maintained gains throughout the trading day and is currently up 1.50% to 2905 USD per ounce. Silver, on the other hand, is gaining 0.70% to 32 USD per ounce.
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The high demand for gold has persisted for several months due to geopolitical and inflationary risks. According to the latest data, the PBOC continues to purchase gold despite its record-high prices. The bank resumed purchases in November and continued them in December and January. In January, the bank increased its gold reserves by 160,000 ounces.
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In the cryptocurrency market, we observe moderate optimism. Bitcoin is gaining 0.90% to 97,300 USD and has slightly limited its gains during the U.S. session. Earlier, prices approached around 98,000 USD.
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Ethereum is recording slightly larger gains of 2.00% to 2,680 USD. Despite this, sentiment in the cryptocurrency market remains weak, even with Bitcoin hovering around historical highs.
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