Here's a super-quick guide to what traders are talking about right now
Thomson Reuters
Dave Lutz, head of ETFs at JonesTrading, has an overview of today's markets.
- Stocks are rising on the first trading day of the year.
- The South Korean won is at three-year highs.
- Gold is moving higher.
Here's Lutz:
Good Morning, and Happy New Year - Here's to a great 2018 for us all!! US Futures are steadily rallying as Traders man their terminals - The DJIA is up 25bp, but Nasdaq lagging despite the Sloppy Close last Friday, led by 1%+ drops in Mega Tech and Banks. Strong Global PMIs coming in, but those EU equities are lagging as the Euro pops - DAX down 90bp and on 3month lows, with Autos and Miners leading to downside. Fins are in the green as Sov Yields pop and the FT talks consolidation in Europe, but the export heavy industries weigh. FTSE is off 50bp as Sterling rallies and the Miners slide. Very Strong Overnight in Asia on better Chinese PMI - Hang Seng up nearly 2% as Tech and Fins jumped - China H shares hit 2 1/2year peaks - KOSPI up 50bp despite Hyundai smoked for 4.5% - Fins weighed in Aussie, keeping ASX unch, while Japanese Markets closed until Thursday for Holiday
With these PMI beats, seeing decent selling across Sovs, with the US 10YY up 3bp and Steepeners going thru. The DXY remains under pressure tho, with Sterling and Euro moving to 4month highs against the Greenback - $/Y under decent pressure, and the Won to 3Y highs on Optimism about North relations. Ore adds 2.3% overnight in China, but Copper is being sold early in London. Gold is adding to it's biggest annual rise in 7 years, but Platinum is the leader, adding nearly 1%. WTI up small as Oil shrugging off Iranian Protests as the Forties Pipe comes back online - while Natty Gas is retreating from a early 2% pop despite the cold weather all over America.
Here are the 10 things you need to know today.
Get the latest Oil WTI price here.
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- Hyundai plans to scale up production capacity, introduce more EVs in India
- FSSAI in process of collecting pan-India samples of Nestle's Cerelac baby cereals: CEO
- Narcissistic top management leads to poor employee retention, shows research
- Audi to hike vehicle prices by up to 2% from June
- Kotak Mahindra Bank shares tank 13%; mcap erodes by ₹37,721 crore post RBI action