Morning wrap (29.03.2022)

8:53 am 29 March 2022

  • US indices finished yesterday's trading mostly higher. S&P 500 gained 0.71%, Dow Jones moved 0.27%, Nasdaq jumped 1.31% and Russell 2000 finished flat. 

  • Nasdaq-100 futures (US100) reached 15,000 pts this morning for the first time since February 10, 2022

  • Indices from Asia-Pacific also gained. Nikkei and S&P/ASX 200 jumped 0.7%, Kospi moved 0.3% higher while indices from China traded mixed

  • DAX futures point to a higher opening of the European trading session today

  • Financial Times reported that Russia is no longer seeking "denazification" or "demilitarization" of Ukraine while Ukraine is ready no to seek NATO membership

  • Next round of Russia-Ukraine talks is set to begin this morning in Turkey

  • Russia repeated that it will only use nuclear weapons if there is a real threat to existence of the country and war in Ukraine is no such threat

  • According to Japanese media, Prime Minister Kishida ordered new stimulus package to be ready by the end of April

  • Shanghai rolled out support measures for business impacted by lockdown, including tax credits and rent exemptions. Authorities also encourage telecom companies to provide free cloud and mobile services over the next 3 months

  • Australian retail sales jumped 1.8% MoM in February (exp. 1.0% MoM)

  • The Japanese unemployment rate dropped from 2.8 to 2.7% in February (exp. 2.8%)

  • Rally on the cryptocurrency market pause with Bitcoin trading flat on the day

  • Oil is trying to recover from yesterday's plunge. Brent and WTI trade over 2% higher on the day

  • Precious metals trade slightly higher. Palladium stands out as it gains 1.5%

  • JPY and CAD are the best performing major currencies while GBP and EUR lag the most

Nasdaq-100 (US100) continues to rally following a break above the downward channel and the Overbalance structure earlier this month. US tech index is testing 15,000 pts area for the first time since February 10, 2022. Source: xStation5

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