Asia and Europe Markets Rise, Crude Oil Hits $75, and Gold Nears $2,050 – Global

On Thursday, January 11, U.S. stock markets closed mixed, influenced by rising inflation and a strong labor market tempering expectations for early Federal Reserve rate cuts, though lower Treasury yields limited losses.

In economic data, December’s U.S. consumer prices rose by 0.3% month-over-month, exceeding November’s 0.1% increase and market expectations of 0.2%. The annual inflation rate reached 3.4%, surpassing November’s 3.1% and the forecasted 3.2%. 

Initial jobless claims in the U.S. decreased by 1,000 from the previous week to 202,000 for the week ending January 6, lower than the expected 210,000.

Most S&P 500 sectors ended lower, led by losses in utilities and real estate stocks; information technology and energy stocks defied the trend, closing higher.

The Dow Jones Industrial Average saw a slight increase of 0.04%, closing at 37,711.02. In contrast, the S&P 500 edged down by 0.07% to 4,780.24, while the Nasdaq Composite ticked up marginally by 0.01%, ending the session at 14,970.18.

Asian Markets Today

• On Friday, Japan’s Nikkei 225 index closed the session higher by 1.50% at 35,577.11, led by gains in the Machinery, Precision Instruments and Shipbuilding sectors.
• Australia, the S&P/ASX 200 declined 0.10%, ending at 7,498.30, led by losses in the Utilities, Consumer Staples and Industrials sectors.
• India’s Nifty 50 closed higher by 1.14% at 21,894.55, and Nifty 500 rose 0.82% to 19,745.60. 
• China’s Shanghai Composite decreased 0.16% to 2,881.98, while the Shenzhen CSI 300 fell 0.35%, closing at 3,284.17.
• Hong Kong’s Hang Seng Index slipped 0.53%, concluding the day at 16,200.50.
• China’s trade surplus increased to $75.34 billion in December, surpassing expectations of $74.75 billion and November’s $68.39 billion, mainly due to a larger-than-expected 2.3% year-on-year rise in exports, which exceeded the forecasted 1.7% and November’s 0.5% increase.

Eurozone at 06:00 AM ET

• The European STOXX 600 index was up 0.82%.
• Germany’s DAX gained 0.09%.
• France’s CAC climbed 1.05%.
• The U.K.’s FTSE 100 traded higher by 0.77%.

Commodities at 06:00 AM ET

• Crude Oil WTI was trading higher by 4.17% at $75.01/bbl, and Brent was up 3.97% at $80.84/bbl.
• Oil prices jumped due to U.S. and British strikes on Houthi targets in Yemen, raising concerns about the impact on oil supplies from the Middle East, especially through the Strait of Hormuz.
• Natural Gas gained 0.55% to $3.113.
• Gold was trading higher by 1.55% at $2,050.40, Silver gained 2.20% to $23.205, and Copper rose 0.23% to $3.7853.

US Futures at 06:00 AM ET

Dow futures were up 0.01%, S&P 500 futures declined 0.09%, while Nasdaq 100 Futures fell 0.26%.

Forex at 06:00 AM ET

The U.S. Dollar Index rose 0.07% to 102.37, USD/JPY was down 0.08% to 145.18, and AUD/USD declined 0.08% to 1.4943.

Photo by Markus Spiske on Unsplash