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Markets Update: STOXX 600 reaches a record high, increasing by 1.2%. The S&P 500 and Nasdaq show slight gains, while the Dow Jones declines. Financials lead sector gains within the S&P 500, whereas the energy sector experiences the most significant losses. The dollar strengthens, bitcoin sees a minor decline, and both crude oil and gold prices decrease. The yield on the U.S. 10-Year Treasury rises to approximately 4.44%.
Global Markets Roundup: 30January 2025
FESX1! | Z1! | NI225 | NQ1! | ES1! | EURUSD | USDJPY | DXY | GOLD | CL1! | ZC1! | ZS1! HG1!
Equity Markets
Global markets experienced a slight rebound on Thursday as concerns over a potential escalation in trade tensions between the U.S. and its major trade partners diminished. Concurrently, U.S. Treasury yields were pressured as investors assessed the country's interest rate trajectory. By midday, the Nasdaq Composite had risen by 0.1% to 19,716.3, and the S&P 500 had increased by 0.2% to 6,070.9. Conversely, the Dow Jones Industrial Average had fallen by 0.4% to 44,695.4. Gains were observed in consumer staples and financials, while the energy sector saw the most significant declines. European markets closed at record highs on Thursday, propelled by strong earnings reports from mining companies, while market participants considered the prospects of a Ukraine peace agreement. The pan-European STOXX 600 index increased by 1.2%, with notable gains in Germany's DAX, France's PX1, Italy's FTSEMIB, and Spain's IBC, each rising by approximately 1.5%.
Earlier in the day, Chinese and Hong Kong stocks advanced, driven by the technology sector, as investors continued to focus on domestic artificial intelligence firms following notable developments by Chinese AI start-up DeepSeek. The blue-chip CSI300 index in China rose by 1.26%, while the Shanghai Composite index climbed by 1.27% to 3,270.66 points, marking a five-week high. In Hong Kong, the Hang Seng Index increased by 1.43% to 20,891.62, reaching a three-month high. Regionally, the MSCI Asia ex-Japan stock index gained 0.44%, and Japan's Nikkei index rose by 0.61%.
Currencies
The dollar index (DXY) increased by 0.29% today, recovering slightly after two days of losses. The pound (GBPUSD) fell by 0.8% to $1.24065 following the Bank of England's interest rate cut. The yen (USDJPY) strengthened to 151.81 per dollar, its highest level since December 12, after the BOJ's Naoki Tamura indicated a potential rate increase to 1% due to rising price risks in the latter half of fiscal 2025. The offshore yuan (USDCNH) slightly weakened to 7.2895 per dollar. Canada's loonie (USDCAD) stood at C$1.43405 against the U.S. dollar, having previously risen to C$1.4270, its highest level since December 17. The Mexican peso (USDMXN) declined by 0.36% to 20.4917 per dollar. Meanwhile, the euro (EURUSD) edged down by 0.36% to $1.0363.
Commodities
In the commodities market, crude oil futures exhibited mixed trading throughout the day, currently reflecting a slight decline. WTI crude decreased by 0.44% to $70.72 per barrel, while Brent crude fell by 0.51% to $74.37 per barrel. Gold prices declined by 1% on Thursday, influenced by the strengthening U.S. dollar ahead of a pivotal jobs report and subsequent profit-taking by investors. This decline follows gold reaching consecutive record highs over the past five sessions amid escalating trade tensions between the U.S. and China. Spot gold decreased by 0.6% to $2,848.41 per ounce, after achieving an all-time high of $2,882.16 on Wednesday. U.S. gold futures also fell by 0.7% to $2,872.60.
In agricultural commodities, Arabica coffee futures (KC1!) continued to climb, reaching $4.03 per pound, a record high since the 1970s, driven by speculative buying and ongoing concerns over limited supplies. March ICE NY cocoa (CC1) decreased by 5.13%, and March ICE London cocoa (#7 C1) fell by 3.10%. Cocoa prices extended this week's sharp decline, with NY cocoa hitting a six-week low and London cocoa reaching a five-week low. Cocoa prices are under pressure due to indications of slowing demand. Chocolate manufacturer Hershey announced that high cocoa prices are prompting the company to reformulate recipes by substituting cocoa with other ingredients. The most active corn contract on the Chicago Board of Trade (CBOT) (ZC1!) rose by 0.51% to $4.95 per bushel, while CBOT soybeans (ZS1!) increased by 0.19% to $10.59 per bushel and CBOT wheat (ZW1!) saw a 2.80% rise to $5.88 per bushel.
Looking forward refer to the economic calendar below to see the upcoming events scheduled for today and the rest of the week.
General news - Information source from multiple newswires.
The article and the data is for general information use only, not advice!
The Trade Academy Team