- Wall Street indices gained yesterday, erasing the majority of post-FOMC losses. S&P 500 gained 1.25%, Dow Jones moved 0.97% higher, Nasdaq added 1.30% and small-cap Russell 2000 jumped almost 1.4% higher
- US index futures added to gains after close of the cash session, driven by strong results from Amazon and Meta Platforms
- Indices from Asia-Pacific traded mostly higher, following an upbeat session on Wall Street. S&P/ASX 200 gained 1.5%, Kospi traded 1.2% higher and Nifty 50 rallied 1.8%. Nikkei traded 0.3%
- Indices from China are regional laggards today, with some major indices from the country dropping 2-3%. Interestingly, there was no news to justify the drop
- European index futures point to a higher opening of the cash session on the Old Continent today
- US officials said that decision on how to respond to a recent drone strike in Jordan was made and that its forces are preparing to hit targets in Syria and Iraq
- Qatari officials said that no ceasefire was agreed between Israel and Hamas yet, in spite of conflicting media reports. Al Jazeera tweeted yesterday that Israel agreed to a ceasefire proposal, but that tweet was quickly deleted
- Societe Generale expects Bank of Japan to end period of negative rates and hiked policy rate to 0.00% at March meeting
- Bank of America now expects Federal Reserve to begin cutting rates in June
- South Korean CPI inflation for January came in at 2.8% YoY (exp. 2.9% YoY), the lowest pace of price growth since July 2023. Core CPI slowed from 2.8% YoY to 2.5% YoY and reached the lowest pace since December 2021
- Australian PPI inflation for Q4 2023 came in at 0.9% QoQ (exp. 1.9% QoQ)
- Cryptocurrencies trade higher this morning - Bitcoin gains 0.6%, Ethereum trades 0.5% higher and Dogecoin advances 0.7%
- Energy commodities trade higher - oil gains 0.3% while US natural gas prices advance 0.8%
- Precious metals trade little changed - gold trades flat, silver drops 0.1% and platinum adds 0.1%
- AUD and NZD are the best performing G10 currencies while CHF and JPY lag the most
S&P 500 futures (US500) have fully recovered from post-FOMC slump and managed to reach fresh all-time highs above 4,955 pts mark. 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.
