- Yesterday's session on Wall Street ran to the end in a great sentiment. The Nasdaq100 gained 3.01%,and Nvidia shares rose 16.5% (shares are 1.7% higher also today in after-market). The S&P500 rose more than 2% and the Dow Jones rallied 1.18%. As a result, sentiment in Asia was also positive, but especially in Japan
- Chinese indexes closed the session flat. Japan's Nikkei rose more than 2%, while Korea's KOSPI fared slightly less well and rose less than 2%. Shares of technology conglomerate SK Hynix rallied more than 3% on the AI wave
- China's new home prices fell 0.7% month-on-month in January, compared to a 0.4% decline previously. Singapore's CPI reading indicated a 0.7% decline versus a 0.4% increase previously. Chinese index futures, however, gained in the range of 0.6-0.8% despite the weak data
- European benchmark contracts are trading marginally lower, although Wall Street index futures are trading higher
- Consumer sentiment in the UK according to GfK was -21 vs. -18 forecast and -19 previously
- Lisa Cook of the Fed conveyed that the bank is already close to cuts but asks for patience for a few more meetings as it wants to make sure of the disinflationary trend
- Also, Patrick Harker from the Federal Reserve indicated that central bank doesn't want a premature rate cut but is now 'close to cutting, just give us a couple meetings'. According to his stance rate cuts timing is possible in the second half of the year.
- Fed Harker told that commercial real estate will challenge banks, but Fed Waller commented that it will not boost another crisis and CRE problem is 'manageble'
- EURUSD is trading flat, near 1.0822. USDJPY is holding steady above 150 points
- Precious metals contracts are losing, except palladium, which is trading up almost 1%. Gold and silver lose 0.5 and 0.3%, respectively
- Bitcoin loses 0.4% and is trading below $51,500. Despite yesterday's rally on Wall Street, the reaction of cryptocurrencies was negligible
- German insurer Allianz reported Q4 2023 profit that slightly beat analyst expectations; company initiated 1 billion EUR in shares buybacks
- According to U.S. officials, the United States warned Russia directly to not deploy nuclear-armed, anti-satellite space weapon
- China opposed UK sanctions against Chinese companies, naming the decision unilateral, with 'no basis in international law'
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