The trading day in Europe began with a mixed trend, with the British FTSE index falling by 0.3%, while the DAX and KAC opened unchanged. Meanwhile, Wall Street futures traded in a mixed trend, with minimal changes. In Asia, the stock exchanges of China, Hong Kong, and South Korea are closed for Lunar New Year celebrations, while Japan’s stock market is closed for “National Day.”
Investors on Wall Street are closely watching several intriguing reports that will be released this week, including those from Coca-Cola, IRB, Paramount Global, Cisco Corp., Occidental Petroleum, Coinbase Global, Applied Materials, and Rocco. The American debt market also saw government bonds trade in a mixed trend at the end of the week, with yields on 10-year bonds decreasing slightly to around 4.17%.
In commodities and currencies markets, American oil continued to trade at $76.5 per barrel while Brent oil was trading at $81.7 per barrel. Last weekend saw cryptocurrencies soar as Bitcoin reached $48k per coin and Ethereum hit $2k per coin.
Looking ahead to global macroeconomic news this week includes new data releases such as unemployment data in Great Britain and Switzerland as well as consumer price indices in these countries as well as GDP data in Eurozone and Japan. Additionally there will be retail sales data from US which could provide insight into consumer spending patterns during these challenging times. Analysts have different opinions on the market outlook; some predicting possible correction while others see small companies as an attractive investment opportunity for long term gains