- European stocks gain for 2nd session
- Vaccine optimism lifts market sentiment
- Silver drops 8% as the Reddit rally fades away
European indices extended yesterday gains amid expectations of quicker vaccination rollout across Europe as more vaccine supplies are expected in the near future. Meanwhile GDP figures showed the Eurozone economy shrank less than expected at the end of 2020. Both Germany and Spain economies expanded and France shrank less than expected in reports last week; while Italy reported a contraction of 2% earlier in the day. DAX 30 rose 1.5%, CAC40 gained 1.86% and FTSE100 finished 0.8% higher
US indices rallied today and are trading near their all-time highs as concerns over volatile retail trading fade away. Optimism regarding the vaccines also affected the market sentiment. AstraZeneca showed good results with two doses of the vaccine, while Novavax and J&J indicate that their vaccines will soon be commercially available.US President Biden said he will continue to push for a larger stimulus package and will not slow down work on this urgent crisis response after the meeting with 10 Republican senators who counter-proposed a smaller package. On the earnings front, Exxon Mobil reported better than expected quarterly earnings while Pfizer's quarterly performance disappointed. Amazon, Alphabet and Amgen will report their quarterly figures after the closing bell
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile appUS crude futures are trading 2.28% higher around $54.76 per barrel, while Brent contract rose 2.0% above $ 57.50 per barrel. US Northeast has been hit by a powerful winter snowstorm, providing a massive boost to heating demand in the residential and commercial sectors. Traders now await weekly inventory reports by the API later in the day. Elsewhere, gold futures fell 1.3% to $ 1,835.00 / oz, while silver is trading 8.0% lower around $ 26.60 / oz as the Reddit boom and investor frenzy that spread from the tech sector into the silver market started to cool. Bitcoin broke above $35,000 level.
Oil prices (OIL.WTI) managed to break above the 200 SMA (red line) during today's session and reached 1-year high. Should upbeat moods prevail, another upward impulse towards resistance at $64.93 could be launched. Source: xStation5
The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.
