In Asia, stock markets in China are closed today for the Chinese New Year, while Japan’s Nikkei is up about 3% at this hour and has reached a new record high of 38,000. The Kospi index in South Korea also rose by 0.8%. US futures are trading slightly lower this morning.
On Wall Street last night, the main indices closed in a mixed trend. The Nasdaq fell 0.3%, the S&P500 lost 0.1%, and the Dow Jones added 0.3%, breaking an all-time high. Meanwhile, Israeli company Beamr saw its share price jump by over 7% after Piper Sandler upgraded their recommendation on the stock to ‘overweight’ from ‘neutral’.
In the US government debt market, the 10-year bond yield fell slightly last night and traded around 4.16%. The two-year bond yield was 4.47%.
Oil prices are trading slightly higher this morning, with a Brent barrel worth $82 at present time. Dr Michael Bafman, chief economist of Bank Leumi predicts that volatility in oil prices will remain relatively high due to security events in the Middle East.
Today, several important economic data is expected to be published including unemployment data in Great Britain and consumer price index in Switzerland at the same time inflation data in USA is expected to be published at 15:30 Israel time.