It seems that the demand for Gold assets is gradually starting to grow again. It was topped in the first days of January when the price almost reached $1960 per troy ounce (toz), but then quickly dropped after January 6 on the prospect of orderly and smooth official transition of power in Washington. When the very peak of political tension in the United States had been passed, the spot price of Gold even declined temporarily to the $1800/toz area. However, it rather seemed to be a short set piece of the whole Gold performance or just an episode.
Apple shares (APPL) rose 7.07% over the last two trading sessions to reach a market capitalisation of $2.3 trillion. The current price of $136.87 per share is attributed primarily to the clearly positive sentiment ahead of the highly expected earnings report, which is going to be released on January 27. But the market price is already moving forward, aiming for a retest of the company's all-time high of $138.79 with even better targets in sight if positive scenarios come to light.
A rather unwieldy market of the current week, at which even mostly overbought assets of the fast-recovering banking sector just rolled back submissively to some lower levels despite their positive Q4 financial reports, were pleasantly surprised by high-flying Netflix shares again. The largest streaming service in the world set another record on its global paid membership of more than 203 million subscribers.
The last-quarter figure bounced back to top 8.51 million new customers over this period which included holidays and lockdowns, so people spent a lot of extra time at their homes.
As the first season of corporate reports has started for the year, major Wall Street banks provided mixed Q4 earnings results. JP Morgan Chase (JPM), which is ranked by S&P Global as the seventh largest banking organisation globally and also as the largest bank in the U.S. with total assets of more than $3 trillion, reported its profit results of $3.08 per share after $2.57 a year ago in Q4, 2019. The figures topped the average analysts’ consensus estimate of $2.65 per share shown by Reuters and Bloomberg expert polls. The JPM quarterly revenues amounted to $29.224 bln (+3.
Markets are looking indifferent or dazed this week, as it could be said that the movements in major instruments are long-winded with a lack of real excitement or plain catalysts. The U.S. Dollar index was little changed after a live-streamed Zoom chat with the U.S.
Oil prices exceeded $57 per barrel (bbl) for the North-Sea Brent benchmark adding 1.5% more in course of Asian trading hours on Wednesday to the already remarkable ten-week rally. This happened just after inventory stocks in the United States dropped by 5.8 million barrels to around 484.5 million barrels altogether, according to statistics for the week ending January 8 that were released bythe American Petroleum Institute (API) late in the evening on the previous day. The latest official reports by the U.S.
The very beginning of 2021 has so far been marked more by political turbulence in Washington, including riot scenes at the Capitol Hill which was followed by congress’s efforts to impeach Donald J. Trump, just several days before his term expires. As a result, this period of is not so much remembered for any set of economic news that could be critical for the financial markets.
Just before the end of the year, not many factors are directing the markets. All the three of major U.S. stock indexes just renewed their all-time records this Monday as risk appetite has grown on great news about the long-awaited COVID-19 relief bill. This positive wave from across the pond combined with the U.K. and EU successful last-minute divorce agreement on free trade issues supported both the island and continental assets, so that the German Xetra Dax 30 and the composite Euro Stoxx indexes touched their corresponding peak values of 2020.
A new and reportedly highly infectious strain of the same obtrusive coronavirus which was discovered at the British Isles and then also found somewhere in mainland Europe, had propelled into a rather strong downside intraday market correction on Monday. The UK 100 Index on the London Stock Exchange lost 3.2% in just four hours while the composite Euro Stoxx 50 fell even more as a reaction. But both the European continental and the British stocks generally recovered during the last two trading days before Christmas, as well as the U.S.
On December 16, the U.S. Federal Reserve (Fed) issued a regular statement of the Federal Open Market Committee (FOMC) and shared its economic projections. The members of the Board of Governors reaffirmed their readiness to use a "full range of tools to support the U.S. economy in this challenging time", including all the necessary asset purchases, which "help foster smooth market functioning and accommodative financial conditions, thereby supporting the flow of credit to households and businesses".