CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Daily summary: S&P 500 tops 5,100 pts, NATGAS tests $1.70 area

19:52 23 February 2024
  • Wall Street indices extend gains, although their scale is much smaller than yesterday. S&P 500 gains 0.2% and tests 5,100 pts area. Dow Jones adds 0.3%, small-cap Russell 2000 jumps 0.7% while Nasdaq trades flat
  • European indices traded higher for another day in a row - German DAX and UK FTSE 100 traded around 0.3% higher, French CAC40 jumped 0.7% while Italian FTSE MIB surged almost 1.1%. Dutch AEX was a laggard with 0.3% drop
  • GBP and AUD are the best performing G10 currencies today, while CAD, CHF and USD lag the most
  • Oil trades over 2% lower today amid reports that a new round of talks will be held in Paris to achieve a ceasefire in Gaza Strip. Brent is trading near 2-week lows
  • US front-month natural gas prices (NATGAS) drop around 6% today and test $1.70 per MMBTu area for the first time following contract rollover
  • Precious metals gain - gold trades 0.7%, silver jumps 1%, platinum adds 0.3% and palladium surges over 2%
  • Major cryptocurrencies trade lower today - Bitcoin drops 0.6%, Ethereum trades 1.5% lower and Ripple pulls back 1.4%
  • Fed Williams said that rate hikes are not his base case scenario and that rate cuts are likely later this year
  • ECB Stournaras said that European Central Bank definitely won't cut rates in March and that he expects the first rate cut to be delivered in June
  • ECB Centeno said that bankers must be open for a March cut, even if it is unlikely
  • ECB Muller said that he would like to Q1 wage data before deciding whether to cut rates
  • German IFO Business Climate index ticked higher from 85.2 to 85.5 in February (exp. 85.5). Current Conditions subindex dropped from 87.0 to 86.9 (exp. 86.8) while Expectations subindex climbed from 83.5 to 85.1 (exp. 84.0)
  • Final German GDP report for Q4 2023 confirmed 0.3% QoQ contraction signalled by flash release

NATGAS resumed declines after yesterday's contract rollover and dropped to $1.70 per MMBTu area. Source: xStation5

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This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.

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