CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% 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. 76% 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: Wall Street tumbles ahead of Friday’s key jobs report

20:15 5 January 2023
  • European indices finished today's session mostly lower with German DAX falling 0.38% led by losses in chemicals and insurance stocks. 
  • Eurozone producer price inflation slowed more than expected in November, however a PMI survey suggested construction activity in the bloc contracted at the fastest pace in over two years.

  • ECB's Villeroy believes that central bank should aim to reach the terminal rate by summer, but it is too early to predict what level this may be

  • The British FTSE 100 advanced for a third consecutive session on Thursday, closing above 7,600 pts and just shy of a fresh record closing high, driven by gains among financials, materials, and energy stocks.

  • Ukraine rejected Putin's Orthodox Christmas ceasefire proposal

  • Major indexes from Wall Street resumed downward move following upbeat data from the US labour market, which reinforced concerns that the Fed will uphold its aggressive tightening process. 

  • The Dow tumbles 0.85%, while the S&P 500 is trading 0.75% lower and Nasdaq fell nearly 1.0%.  Tomorrow investors will focus on the nonfarm payroll report for clues about the next move in interest rates. 

  • ADP report showed that private businesses created 235K jobs in December, higher than an upwardly revised 182K in November and well above market forecasts of 150K. 

  • Jobless claims fell to 204k, from the previous week's revised level of 223k and below analysts’ estimates of 225k.

  • Fed's George said the US central bank will maintain rates until 2024, while Bostic believes that despite signs that prices are moderating, there is still a lot of work to be done.

  • Fed’s Bullard said policy is not yet restrictive, but it will be soon with additional hikes. US GDP is likely moderating to a potential of around 2%. Inflation is likely to ease more slowly than markets anticipate. Expects the Fed to remain higher for a longer period of time in order to reduce inflation.

  • stock dropped over 1.0% after the e-commerce giant plans to shed around 18,000 jobs, which is more than initially expected.

  • Oil prices rose over 2.0% as stocks of crude oil in the US went up by 1.694 million barrels, more than market expectations of a 1.154 million rise, according to fresh EIA report

  • NATGAS plunged 11.0% to 1-year low around $3.70 after a federal report showed a smaller-than-expected storage draw.

  • Precious metals also fell sharply on Thursday amid a stronger dollar. Gold fell over 1.0% and pulled further away from recent high at $1865 per ounce, while silver tumbles over 2.5% and is moving towards major support at $23.00 per ounce

  • The dollar index jumped to 105 level for the first time since mid- December with some of the most pronounced buying activity against the British pound and risk-sensitive currencies such as the Australian and New Zealand dollars.

  • Major crypto currencies trade mixed, however moves are rather limited. Bitcoin rose 0.20% and trades below the $16800 level, while Ethereum fell 0.50% below the $1250 mark.

UK100 futures which are tied to British FTSE 100 are oscillating around all-time highs at 7650 pts. Nevertheless taking into account the overall negative sentiment, a pullback towards local support at 7500 pts cannot be ruled out. Source: xStation5

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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