- Wall Street indices trade mostly higher today - S&P 500 gains 0.7%, Nasdaq rallies 1.6% while small-cap Russell 2000 jumps 1.2%. Dow Jones trades flat, dragged by 7% plunge in Boeing shares
- Nvidia rallied to fresh all-time highs after presenting new graphics cards. A report from Reuters also suggested that company plans to begin mass production of AI chips designed for China and compliant with US export restrictions
- Oil prices plunged after Saudi Arabia cut export prices to Asia to the lowest level in 27 month. Brent trades 3.7% lower while WTI drops 4.5%
- European stock market indices traded higher today - German DAX gained 0.7%, French CAC40 added 0.4%, UK FTSE 100 finished 0.1% higher, while Spanish Ibex and Italian FTSE MIB gained 0.4%
- Fed Bostic said that inflation came down more than he expected and that he sees two 25 basis point rate cuts appropriate by end of year
- CHF gained slightly after Swiss CPI inflation accelerated from 1.4% YoY to 1.7% YoY in December (exp. 1.5% YoY
- Cryptocurrencies gained as markets hope for an imminent decision on Bitcoin spot ETFs. Number of institutions refilled their Bitcoin spot ETF applications with revised fee levels, and media suggest that approval could come as soon as Wednesday. Bitcoin trades over 7% higher and tests $47,000 area
- Precious metals pull back today - gold drops 0.8%, silver trades 0.3% lower and platinum slumps 1.7%
- JPY and CHF are the best performing major currencies, while CAD and USD lag the most
- New York Fed's 1-year inflation expectations dropped from 3.4 to 3.0%
- Germany factory orders increased 0.3% MoM in November (exp. 0.3% MoM)
- Germany exports in November were 3.7% MoM higher (exp. 0.3% MoM) while imports were 1.9% MoM higher (exp. 0.4% MoM0
- Euro area retail sales dropped 1.1% YoY in November (exp. -1.5% YoY). On a monthly basis, sales were 0.3% MoM lower (exp. -0.3% MoM)
Bitcoin rallies 7% and test $47,000 area on hopes for Bitcoin spot ETF decision. Coin trades at the highest level since early-April 2022. Source: xStation5
