London, Friday, 7 January 2022 -
US Markets summary
Investors studied the latest payrolls report, which supported the belief that the Fed may expedite its rate hike plan. US markets traded neutral on Friday. Despite the fact that only 199K jobs were created in December, less than half of market expectations, the unemployment rate fell to 3.9 percent, and hourly salaries increased by 4.7 percent year over year.
After losing 0.3 percent earlier in the day, the Dow Jones was barely changed as gains in bank sectors amid forecasts of rising yields were offset by losses in technology. Meanwhile, the S&P 500 fell 0.4 percent, while the tech-heavy Nasdaq Composite fell 1%, ending the week with its worst week since February 2021, down more than 4%.
Chipmakers like Nvidia and Microchip have gained more than 4% in single stocks. Tesla was also down 3.5 percent, and Netflix was down 2%. Despite this, the S&P 500 fell 1.9 percent this week, while the Dow Jones fell 0.3 percent.
European Markets summary
European stock markets ended the week mainly lower as investors digested a slew of economic data from the Eurozone and the United States. Inflation in the Eurozone is expected to have risen to a record high of 5% in December, exceeding market expectations of 4.7 percent and maintaining above the ECB's target for the sixth month in a row.
Simultaneously, Eurozone economic morale fell to a seven-month low, and industrial production in Germany and France unexpectedly fell in November. In other news, the US jobs data indicated a decrease in unemployment and an increase in pay growth, bolstering the case for the Fed to raise interest rates quicker this year.
On the corporate front, Deutsche Bank rose to a more than six-month high after the business's finance chief stated that the company is confident in meeting a major profit target this year.
U.S. Stock Market Indexes
S&P 500: -19.03 (-0.41%) to 4,677.02
Nasdaq: -144.96 (-0.96%) to 14,935.90
Dow Jones: -4.81 (-0.01%) to 36,231.66
European Stock Market Indexes
STOXX Europe 600: −1.91 (0.39%) at 486.25 as at Jan 7, 6:00 PM GMT+1
FTSE 100 in London: +34.91 (0.47%) at 7,485.28 as at Jan 7, 4:35 PM GMT
DAX 30 in Germany: −104.29 (0.65%) at 15,947.74 as at Jan 7, 5:55 PM GMT+1
CAC 40 in France: −30.18 (0.42%) at 7,219.48 as at Jan 7, 6:05 PM GMT+1
FTSE MIB 30 in Italy: −37.22 (0.13%) at 27,618.47 as at Jan 7, 5:35 PM GMT+1
IBEX 35 in Spain: −38.10 (0.43%) at 8,751.80 as at Jan 7, 5:38 PM GMT+1
Other markets
Ten-year U.S. Treasury note: +3.8 bps to yield 1.7710%
Dollar index: -0.58 or -0.60% at 95.74 as at Jan 7, 2022 4:59 p.m. EST
VIX volatility index: −0.85 (4.33%) at 18.76 as at Jan 7, 3:15 PM CST
Oil prices
Brent crude: +0.18 0.22% at $81.93 per barrel as at Jan 7, 2022 10:40 p.m. GMT
West Texas Intermediate: -0.52 or -0.65% $78.94 per barrel as at Jan 7, 2022 4:59 p.m. EST
Precious metals
Gold: +4.80 or +0.27% at $1,796.41 an ounce
Silver: +0.17 or +0.79% at $ 22.37 an ounce
Cryptocurrencies
Bitcoin: +226.60 (0.55%) at $41,791.70 as at Jan 8, 12:29 AM UTC
Ethereum: +18.18 (0.57%) at $ 3,217.33 as at Jan 8, 12:34 AM UTC
(Written and edited by: The Decision Maker)
