London, Monday, 24 January 2022 -
US Markets summary
On Monday afternoon, US stocks recovered their losses as buyers took advantage of reduced valuations.
Traders are being cautious ahead of significant tech earnings announcements, but they have begun to price in the likelihood that the Federal Reserve will hike rates three to four times this year and begin quantitative tightening.
After falling more than 1100 points earlier in the session, the Dow ended up about 100 points higher, the S&P gained 0.3 percent, and the Nasdaq rose 0.6 percent after falling 4.9 percent.
European Markets summary
On Monday, European stock markets fell to multi-month lows, with both Frankfurt's DAX and the pan-European index plunging 3.6 percent, as investors brace for the Federal Reserve's first rate hike since 2018 on Wednesday.
At the same time, concerns about rising tensions on the Russia-Ukraine border fuelled a worldwide risk-off mood, while the latest PMI data revealed that private sector growth rates in the Eurozone and the United Kingdom dropped drastically to 11-month lows. Travel and leisure equities, as well as tech stocks, each lost 5.2 percent.
Unilever, on the other hand, rose 7.3 percent following news that activist investor Nelson Peltz's hedge fund Trian Partners had increased its investment in the group. On the results front, Philips dropped 4.6 percent after reporting a drop in revenue and net profit for the fourth quarter of 2021 owing to supply chain issues and COVID-19-related issues.
U.S. Stock Market Indexes
S&P 500: +12.18 (+0.28%) to 4,410.12
Nasdaq: +86.21 (+0.63%) to 13,855.13
Dow Jones: +99.13 (+0.29%) to 34,364.50
European Stock Market Indexes
STOXX Europe 600: -18.08 point, or 3.81%, to close at 456.36
FTSE 100 in London: lost nearly 197 points, or 02.63%, to end at 7,927
DAX 30 in Germany: declined 592.75 points, or 3.80%, to close at 15,011
CAC 40 in France: slipped 280.8 points, or 3.97%, to 6,788
FTSE MIB 30 in Italy: the worst performer of the day, falling 1,088 points, or 4.02%, to close at 25,973
IBEX 35 in Spain: dropped 276.9 points, or 3.18%, to finish at 8,417
Ten-year U.S. Treasury note: -1.2 bps to yield 1.7350%
Dollar index: +0.26 or 0.27% at 95.90 as at Jan 24, 2022 at 4:53 p.m. EST
VIX volatility index: +1.05 (3.64%) at 29.90 as at Jan 24, 3:15 PM CST
Brent crude -1.03 -1.21% at $ 84.11 per barrel as at Jan 24, 2022 at 4:56 p.m. EST
West Texas Intermediate: +0.81 or 0.97% at $ 84.12 per barrel as at Jan 24, 2022 9:55 p.m. GMT
Gold: +8.55 or +0.47% at $1,843.18 an ounce
Silver: -0.29 or -1.21% at $24.00 an ounce
Bitcoin: +496.60 (1.37%) at $ 36,774.60 as at Jan 24, 10:04 PM UTC
Ethereum: −94.37 (3.71%) at $ 2,446.82 as at Jan 24, 10:09 PM UTC
(Written and edited by: The Decision Maker)