Morning wrap (10.01.2024)

7:41 AM 10 January 2024
  • Wall Street indices finished yesterday's trading lower - S&P 500 dropped 0.15%, Dow Jones moved 0.42% lower and Russell 2000 dropped around 1%. Nasdaq was outperformer with a 0.1% gain
  • Bitcoin has been volatile yesterday in the evening. Price jumped after US SEC tweeted that approval for Bitcoin spot ETF has been granted. However, coin erased gains later on after SEC chair Gensler said that regulator's Twitter account was hacked and that no approval was granted yet
  • Bitcoin drops 0.6% on the day and trades near $46,000 mark at press time, after testing $48,000 yesterday after fake SEC tweet
  • Indices from Asia-Pacific traded mostly lower today - S&P/ASX 200 and Kospi dropped 0.7%, Nifty 50 was 0.1% down and indices from China traded 0.2-1.2% lower. Nikkei was outperformer with a 2.1% gain, supported by JPY weakness
  • European index futures point to a lower opening of the cash session on the Old Continent today
  • US and UK warships are responding to the biggest Houthi attack on merchant vessels in the Red Sea since the beginning of Israel-Hamas war
  • According to OilPrice report, Russian oil exports were 500 thousand barrels per day lower in the first week of 2024 compared to the final week of 2023, as Russia implements OPEC+ commitments
  • Australian CPI inflation decelerated from 4.9% to 4.3% YoY in November (exp. 4.4% YoY
  • API report pointed to a 5.21 million barrel drop in US oil inventories (exp. -1.1 mb)
  • Energy commodities trade mixed - oil gains 0.5% while US natural gas prices drop 1.2%
  • Precious metals trade mixed as well - gold drops 0.2%, silver declined 0.4%, platinum trades flat and palladium gains 0.5%
  • AUD and EUR are the best performing major currencies, while JPY and GBP lag the most

BITCOIN stabilized following yesterday's volatile moves triggered by fake SEC tweet on Bitcoin spot ETF approval. Source: xStation5

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