Morning wrap (20.01.2023)

7:57 AM 20 January 2023
  • US indices finished yesterday's trading lower, marking another downbeat session in a row. S&P 500 and Dow Jones dropped 0.76% each, Nasdaq traded 0.96% down and Russell 2000 moved 0.97% lower

  • Indices from Asia-Pacific traded higher today. Nikkei added 0.5%, S&P/ASX 200 moved 0.2% higher, Kospi jumped 0.6% while NIfty 50 traded flat. Indices from China traded up to 1.5% higher

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

  • Fed Williams said that data will determine where Fed halts rate hikes and that Fed still has a lot of room to shrink its balance sheet further

  • According to a Bloomberg report, Russian oil is being blended in Singapore and later re-exported globally, what may help ease impact on sanctions on Russia

  • People's Bank of China left 1- and 5-year Loan Prime Rates unchanged at 3.65 and 4.30%, respectively

  • Japanese CPI inflation accelerated from 3.8 to 4.0% YoY in December. Core inflation accelerated from 3.7 to 4.0% YoY (exp. 4.0% YoY), and reached the highest level since 1981

  • South Korean PPI inflation decelerated from 6.2 to 6.0% YoY in December

  • Cryptocurrency lender Genesis filed for a bankruptcy. Situation is an aftermath of FTX collapse

  • Netflix jumped 7% in the after-market trading, following the release of Q4 2022 earnings. Company reported EPS of $0.12 (exp. $0.45), revenue at $7.85 billion (exp. $7.85 billion) and a 7.66 million net increase in number of global paid subscribers (exp. +4.57 million)

  • Cryptocurrencies are trading slightly lower today. Bitcoin drops 0.4%, Ethereum trades 0.3% lower and Dogecoin declines 0.9%

  • Oil is trading little changed while US natural gas price drops over 3%

  • Precious metals trade mixed - gold drops 0.3%, silver gains 0.5%, palladium adds 0.2% and platinum drops 0.5%

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

Nasdaq-100 (US100) is trying to hold above the 200-period moving average on H4 interval (purple line). Index may become more active in the next 2-3 weeks as we are getting into a period that will see earnings releases from numerous top-tier US tech companies. Source: xStation5

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