DOW JONES–The wait for new price data is likely to continue to determine events on the US stock exchanges on Tuesday. The stock futures market suggests a well-maintained start to trading on the cash market. In advance, players are unlikely to venture further out of cover and may rather play it safe and tend to sell. This is especially true after the recent rally with numerous all-time highs. There is an 85 percent probability that the market will have one on December 18th Interest rate cut However, if the price data deviates more from expectations, this could cause further movement in interest rate speculation. US central bankers have recently repeatedly pointed out that decisions depend on data.
Trade also points to a number of geopolitical risks worldwide before the end of the year. According to market strategist Jim Reid from Deutsche Bank, the uncertainties outweigh the positive effects of the Chinese stimulus announcement from the previous day. “Remember that in the last week alone the French government was voted out, martial law was declared in South Korea, the election was annulled in Romania and the Assad regime collapsed in Syria,” he adds. That’s a lot of global turbulence for investors to digest.
Geopolitics currently plays only a minor role
The dollar is rising ahead of US inflation data due on Wednesday – the dollar index gains 0.2 percent. Although a 25 basis point interest rate cut by the Fed on December 18 is a foregone conclusion, inflation data could dampen the Fed’s medium-term interest rate cut prospects, according to trade sources. For this reason, yields on the bond market continue to rise, as they did the day before.
After the previous day’s increases, oil prices are coming back slightly. Chinese crude oil imports rose in November. This circumstance sends a positive impulse to oil demand because China is the largest oil importer in the world. It is said that this secures prices downwards.
In the context of falling key interest rates in the USA and the Eurozone the price of gold is rising – also favored by the geopolitical uncertainties, as the Swissquote Bank emphasizes. According to Citi, the precious metal’s long-term upward trend is intact.
Oracle disappointed
On the corporate side, Oracle is a topic of conversation. According to the quarterly figures, the share is under great pressure and is losing 6.2 percent before the trading session. The cloud software provider missed analyst expectations with its adjusted profit and sales.
Yext forecast lower-than-expected fourth-quarter revenue. The fact that the online marketing company performed in line with estimates in the quarter under review is irrelevant – the share price collapsed by 14.9 percent. Planet Labs (-8.9%) is also under pressure. The earth data provider expects sales for the current quarter to be below the consensus estimate. In addition, the company also missed forecasts in terms of sales in the quarter under review.
Healthequity, a financial services provider in the healthcare industry, expects lower revenue next year than analysts forecast. The price crashes by 7.9 percent. Vail Resorts, a ski resort operator, posted a smaller-than-expected quarterly loss, rising 3.8 percent.
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US bonds
Maturity Yield Bp to VT Yield VT +/-Bp YTD
2 years 4.14 +1.8 4.12 -28.1
5 years 4.09 +0.8 4.08 9.2
7 years 4.16 +2.2 4.14 18.7
10 years 4.23 +2.7 4.20 34.6
30 years 4.42 +3.3 4.39 45.0
FOREX last +/- % Tue, 8:33 Mon, 17:17 % YTD
EUR/USD 1.0523 -0.3% 1.0558 1.0588 -4.7%
EUR/JPY 159.55 -0.1% 159.84 159.87 +2.5%
EUR/CHF 0.9260 -0.1% 0.9270 0.9278 -0.2%
EUR/GBP 0.8252 -0.3% 0.8281 0.8276 -4.9%
USD/JPY 151.63 +0.3% 151.40 151.00 +7.6%
GBP/USD 1.2753 +0.0% 1.2750 1.2794 +0.2%
USD/CNH (Offshore) 7.2594 -0.1% 7.2484 7.2608 +1.9%
Bitcoin
BTC/USD 97,609.40 +0.5% 97,085.55 98,040.85 +124.2%
CRUDE OIL most recently VT-Settlem. +/-% +/- USD% YTD
WTI/Nymex 68.11 68.37 -0.4% -0.26 -2.6%
Brent/ICE 71.93 72.14 -0.3% -0.21 -2.7%
GAS VT Settlem. +/- EUR
Dutch TTF 45.14 44.93 +0.5% +0.21 +17.0%
METALS last day previous +/- % +/- USD % YTD
Gold (spot) 2,674.54 2,663.02 +0.4% +11.52 +29.7%
Silver (spot) 31.79 31.83 -0.1% -0.05 +33.7%
Platinum (spot) 937.77 947.00 -1.0% -9.23 -5.5%
Copper future 4.20 4.22 -0.6% -0.03 +6.2%
YTD based on the previous day’s closing level
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(END) Dow Jones Newswires
December 10, 2024 08:41 ET (13:41 GMT)