07:33 · 2 February 2022

Morning wrap (02.02.2022)

  • US indices booked another session of solid gains. S&P 500 gained 0.69%, Dow Jones moved 0.78% higher, Nasdaq added 0.75% and Russell 2000 jumped 1.07%
  • Upbeat moods prevail on Asia markets. Nikkei gained 1.77% while S&P/ASX 200 added 1.17%. Liquidity was limited due to Chinese Lunar New Year
  • DAX futures point to a slightly higher opening of the European cash session today
  • RBA's Lowe: End of bond purchase program does not mean a cash rate rise is imminent. We're prepared to be patient, don't need to move in lockstep with others. Rise in inflation does not require an immediate response
  • New Zealand unemployment rate dropped to 3.2% in Q4 (exp. 3.4%)
  • API data showed unexpected draw in oil inventories
  • Alphabet Inc (GOOGL.US) stock surged more than 9% in premarket following upbeat quarterly results. EPS: $30.69 vs $27.34 expected. Revenue: $75.33 billion vs $72.17 billion expected. Its board approved plans for a 20-for-1 stock split
  • PayPal (PYPL.US) stock plunged nearly 18% in premarket after the company reported mixed Q4 results and provided weak guidance for the next quarter. Earnings per share: $1.11 per share vs. $1.12 per share expected. Revenue: $6.92 billion vs. $6.87 billion expected 
  • Cryptocurrencies are trading slightly lower today. Bitcoin fell to $38,400 while Ethereum trades above $2,700
  • Precious metals trade mixed while oil advances
  • AUD and CHF are the best performing major currencies while JPY and CAD lag the most

GOLD once again broke below psychological support at $1800. Source: xStation5

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