OF Morning Report : Orishas-finance

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OF Morning Report

27/12/2024

Source : ORISHAS FINANCE

Categories: General Information

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After a lackluster session on Wall Street on Thursday, European stock markets are expected to open in a mixed manner on Friday.

Eramet announced on Tuesday that it had completed its first lithium carbonate production at its Argentine plant in Centenario. The mining group said in a statement that the recently commissioned Centenario plant “is the first to implement on an industrial scale the advanced direct lithium extraction technology (“DLE”) developed by Eramet”. According to data from the broker IG, around 7:30am, the CAC 40 futures contract gave up 0.1%.

As markets in the region reopen after two days of closure for Christmas this morning, European equity index futures are trading hesitantly. No specific publication is planned today.

At the end of the lackluster session on Boxing Day, the New York Stock Exchange closed without much direction on Thursday. The Dow Jones index gained a slight gain of 0.1% to 43,325.80 points. On the other hand, the expanded S&P 500 index and the Nasdaq Composite lost just under 0.1%, to 6,037.59 and 20,020.36 points, respectively.
Matt Peron, global head of solutions at Janus Henderson, said that “what we're seeing is a continued interest in fallback procurement

.”

Technology stocks took a break after a good December with a 4.2% increase for the Nasdaq index. Apple came even closer to the $4 trillion mark in market capitalization on Thursday after Wedbush raised its price target

The Dow Jones has fallen by 4% since the beginning of the month. And the indices are heading for a robust performance for the whole of 2024, with four sessions left in the year. The Dow Jones Index has risen 15% since the start of the year, while the S&P 500 and Nasdaq are up by more than 27% and 33%

, respectively.

In Asia, the Nikkei 225 index gained 1.9% at the end of the session. The Hang Seng lost 0.1% on the Hong Kong Stock Exchange, and the Shanghai Composite was unchanged. According to data from broker IG, around 7:30am, the DAX 40 futures contract was down 0.4%, and the FTSE 100 was stable.

After an upward move this week that brought the 10-year bond rate to its highest level since May, US Treasury yields are stabilizing this morning.

Around 7:30am, the 10-year US Treasury bond rate stabilized at 4.580%. That of the two-year stock was also close to breakeven, at 4.334%.

This morning, the euro is losing ground against the dollar and the yen. The greenback is also falling against the Japanese currency. Michael Boutros, currency strategist at Forex.com, indicates that the euro seems likely to end 2024 just above its lows of the year against the dollar and could approach parity even further at the beginning of the year. With inflation expected to fall to the European Central Bank's target at the beginning of the year, attention in the eurozone is turning to risks to growth. For Michael Boutros, “while a further reduction in rates is expected as early as January, the interest rate differential could continue to favour the dollar at the beginning of the year and the overall outlook for monetary policy is currently still in favor of those who play in the fall of the Euro-dollar

.”

Around 7:30am, the euro fell by 0.1% to 1.0412 dollars, while the greenback lost 0.2% to 157.74 yen.

Oil prices are not changing much this morning. According to Samer Hans XS.com , an analyst at, the market is waiting for new catalysts, while the holiday season could see some reduction in the pressure on oil prices. For the analyst, investors are confident in a recovery in demand in China, with the effects of the country's economic stimulus measures set to begin to materialize next year. However, the analyst cautions that a potential trade war between China and the United States, which could increase pressure on crude prices, is one of the biggest concerns for investors in the coming year.

Around 7:10 a.m., the February contract for North Sea Brent traded in London sold 8 cents, at 73.18 dollars per barrel. The contract for light sweet crude (WTI) at the same maturity, listed on Nymex, lost 4 cents to $69.58

per barrel.

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