Morning wrap (04.02.2021)

7:30 AM 4 February 2021
  • US indices finished yesterday's trading slightly above Tuesday's closing prices. S&P 500 gained 0.10%, Dow Jones added 0.14%, Russell 2000 moved 0.38% higher while Nasdaq declined 0.02%

  • Stocks in Asia are trading lower. Nikkei drops 1%, S&P/ASX 200 declines 0.9% while Kospi moves 1.4% lower. Indices from China trade lower as well

  • DAX futures point to a slightly lower opening of the European session

  • US House of Representatives passed $1.9 trillion economic stimulus deal proposed by Biden

  • OPEC+ pledged to continue efforts aimed at re-balancing of the oil market amid pandemic-fuelled surplus

  • Meeting between Janet Yellen and financial regulators will take place today. They will discuss market volatility amid GameStop situation

  • Biden's Secretary of Commerce nominee sees no reason to remove Huawei from restricted trade list

  • UK Chief Medical Officer Chris Whittly said that the country is past coronavirus peak

  • Luigi di Maio, leader of Five Star Movement, said that Italy needs an alternative to Draghi government

  • Precious metals are trading lower with platinum and silver dropping around 1.5% each. Oil gains

  • Bitcoin trades slightly below $38,000

  • AUD and USD are top performing major currencies while GBP and CHF lag the most

Almost 490 thousand new coronavirus cases were reported yesterday. Source: worldometers, XTB

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