London, Monday, 7 February 2022 -
US Markets summary
As investors continue to examine the Federal Reserve's monetary policy path forward, stocks climbed amid a turbulent session at the start of another busy week for corporate earnings and fresh economic data.
After scoring its largest weekly gain of the year last week, the S&P 500 continued to surge. In afternoon trade, the Dow turned positive as well, while the Nasdaq remained unchanged.
Following last week's rollercoaster trading, which saw stocks plummet after Meta Platforms' (FB) poor guidance, only to rise significantly after Amazon's (AMZN) earnings beat, investors are set to receive yet another slew of corporate earnings reports.
In the coming days, companies ranging from Disney (DIS) to Uber (UBER), Lyft (LYFT), Pfizer (PFE), and Coca-Cola (KO) will release their quarterly results. Peloton (PTON) will also report earnings amid rumours that Amazon and Nike (NKE) are considering making offers for the workout technology startup.
On the economic front, this week's Consumer Price Index (CPI), which will be released on Thursday, will be a critical report in determining the Federal Reserve's next steps to restrain increasing prices.
The CPI is expected to grow by 7.2 percent on an annual basis in January, according to consensus economists, marking the biggest increase in prices since 1982. Such a result would give gasoline to the idea that the US economy has recovered sufficiently and is now hot enough for the Fed to take a more aggressive stance on tightening. The breadth of the recovery was further shown last week by the Labour Department's January jobs report, which showed a considerably better-than-expected increase in payrolls.
European Markets summary
On Monday, European stock markets finished mainly higher, with the DAX up over 1% and the Stoxx 600 up 0.7 percent, as advances in mining, travel and leisure firms, as well as encouraging corporate updates, offset fears of anticipated interest rate hikes and geopolitical tensions.
Aurubis, Europe's largest copper miner, rose more than 3% among single stocks after confirming an 85 percent increase in quarterly profits. In addition, AddLife, a Swedish health-care business, rose more than 7% after repurchasing 181,000 of its own shares.
Due to supply chain constraints and a decline in building, industrial production in Germany unexpectedly fell from a month earlier at the end of 2021.
U.S. Stock Market Indexes as at 4:01 p.m. ET
S&P 500: -16.67 (-0.37%) to 4,483.86
Nasdaq: -82.34 (-0.58%) to 14,015.67
Dow Jones: +1.39 (+0.00%) to 35,091.13
European Stock Market Indexes
STOXX Europe 600: +3.75 (0.81%) at 465.90 as on Feb 7, 5:30 PM GMT+1
FTSE 100 in London: +57.07 (0.76%) at 7,573.47 as on Feb 7, 4:35 PM GMT
DAX 30 in Germany: +107.08 (0.71%) at 15,206.64 as on Feb 7, 5:55 PM GMT+1
CAC 40 in France: +57.87 (0.83%) at 7,009.25 as on Feb 7, 6:05 PM GMT+1
FTSE MIB 30 in Italy: −274.66 (1.03%) at 26,328.93 as on Feb 7, 5:35 PM GMT+1
IBEX 35 in Spain: −30.90 (0.36%) at 8,558.40 as on Feb 7, 5:38 PM GMT+1
Other markets
Ten-year U.S. Treasury note: -1.4 bps to yield 1.9160% as at 4:01 p.m. ET
Dollar index: -0.05 or -0.05% at 95.44 as on Feb 7, 2022 at 4:25 p.m. EST
VIX volatility index: −0.36 (1.55%) at 22.86 as on Feb 7, 3:15 PM CST
Oil prices
Brent crude: +0.19 or +0.20% at $ 92.89 as on Feb 7, 2022 at 9:27 p.m. GMT
West Texas Intermediate: -0.76 -0.82% at $ 91.55 as on Feb 7, 2022 at 4:28 p.m. EST
Precious metals
Gold: +13.29 or +0.74% at $ 1,821.29 an ounce as on Feb. 07 at 16:50 NY Time
Silver: + +0.51 or +2.25% at $ 23.02 an ounce as on Feb. 07 at 16:50 NY Time
Cryptocurrencies
Bitcoin: +1,598.30 (3.77%) at $ 44,013.40 as on Feb 7, 9:40 PM UTC
Ethereum: +84.12 (2.75%) at $ 3,142.34 as on Feb 7, 9:40 PM UTC
(Written and edited by: The Decision Maker)
