Morning wrap (02.01.2026)

• Market sentiment during the first equity session of 2026 is broadly positive. A broad benchmark of Asian indices closed nearly 1% higher, led by semiconductor and internet stocks. Samsung shares hit fresh all-time highs, while China’s Baidu jumped more than 7% after the company’s chip unit debuted on the Shanghai exchange, surging by around 400% on its first day of trading.
• US equity index futures are gaining, with US100 up nearly 0.9%. At the same time, futures on European indices suggest that trading in Europe may start in slightly weaker mood. Progress in Ukraine–Russia negotiations has once again stalled, and Volodymyr Zelensky stressed that he will “never sign a weak deal.” He added that the remaining 10% of unresolved issues in the negotiation process is significant, as it relates to Ukrainian territory and security guarantees.
• Precious metals are rallying strongly. Gold is up nearly 1.5% to $4,450 per ounce, while silver is gaining more than 4.5%, moving back above $74. Copper is also higher. 2025 was the best year for metals since 1979. Interestingly, the USDIDX dollar index is also rising, but this is not preventing cryptocurrencies from moving higher as well. Ethereum has crossed above $3,000, and Bitcoin is trading near $89,000, giving bulls hope for a breakout from consolidation if early-year upward momentum is sustained.
• Amid ongoing geopolitical tensions, oil is up nearly 0.5% to $61 per barrel, while NATGAS is down more than 3%, falling to $3.58 per MMBtu. NOAA weather forecasts suggest that conditions in the United States between January 6–12 will be mostly warm.
• According to Russian authorities, a New Year’s drone strike carried out by Ukraine’s armed forces killed 24 people and injured at least 50 more in a Russian-occupied village in Ukraine’s Kherson region. Three drones reportedly hit a café and a hotel in the resort town of Khorly on the Black Sea coast. Ukraine denies the reports. On New Year’s Eve, a Ukrainian military spokesperson told Interfax that Kyiv’s forces target only Russian military or energy facilities.
• Donald Trump shared an article on Truth Social citing a New York Times report suggesting that the alleged Ukrainian attempt to strike Putin’s residence was another Moscow manipulation, while the Russian leader continues to mislead the US president and does not view peace as an appropriate option at this stage of the fighting. The fact that Trump shared the piece may indicate a cooling in relations between the two countries.
• The US Coast Guard continues to track a tanker carrying Iranian oil to Venezuela. The vessel has reportedly switched its flag to a Russian one, and Russia has sent an official diplomatic note asking the United States to end the pursuit. Meanwhile, Volodymyr Zelensky thanked Croatia and Romania for joining the PURL initiative, which allows Ukraine to purchase US weapons. Both countries will provide Ukraine with $75 million. Since August, 24 countries have joined PURL.

(Morning briefing – edited version)

Source: xStation5