Morning wrap (06.01.2021)

8:19 AM 6 January 2021
  • US indices finished yesterday's trading higher. S&P 500 gained 0.71%, Dow Jones added 0.55% and Nasdaq jumped 0.95%. Russell 2000 gained 1.71%

  • Stocks traded mostly lower during the Asian trading. Nikkei dropped 0.38%, S&P/ASX 200 moved 1.12% lower and Kospi declined 0.75%. Indices from China traded mixed

  • DAX futures point to a higher opening of the European session

  • Media report that Democrat Raphael Warnock has won a Senate seat in one of the Georgia races. The second race is still too close to call

  • Bitcoin jumped above $35,000 for the first time

  • Trump issued executive order forbidding transactions with 8 software apps from China

  • OPEC+ agreed that Russia and Kazakhstan will increase production by a total of 75k bpd in February and another 75k bpd in March. Saudi Arabia voluntarily agreed to make a 1 million bpd production cut.

  • API data showed a 1.66 million barrel decline in oil inventories (exp. -1.5 mb)

  • Precious metals pull back while oil and agricultural commodities gain

  • AUD and NZD are the best performing major currencies while USD and JPY lag the most

Almost 685 thousand new coronavirus cases were reported yesterday. Source: worldometers, XTB

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