Major indices around the world traded in red on Friday as investors delayed order profits after the uphill rally ran out of steam.
Future: Dow futures are down 0.70%, while S&P 500 futures are trading lower 0.60% at last check on Friday. WTI crude futures are down 1.58% to $ 52.29, and gold futures are trading lower 0.35% at $ 1,859.30. Ten Year Treasury yields are down 0.8 bps at 1.099%. VIX futures are up 3.98% to 25.55.
Cryptocurrency: Bitcoin is trading down -5.3% at $ 31,525 at the last check, and Ethereum is down 7.87% at $ 1,162.90. The CEO of ARK Invest and the research team have defended cryptocurrencies following Yellen’s comments on its illegal activity. Yellen changed his stance in a statement to the Senate committee.
Asia: Japan’s Nikkei 225 closed lower 0.44%. December’s core CPI in December fell 1% year-over-year. Japan’s manufacturing and services activity contracted to 49.7 and 45.7 respectively in January.
The Shanghai China Composite index fell 0.40%, driven by losses in financial and technology stocks. China’s draft proposals on financial technology Alibaba Group Holdings Ltd. (NYSE: BABA) – has priced Ant Group’s price at $ 108 billion.
Australia’s S & P / ASX 200 closed lower 0.34%. Continental retail sales fell by 4.2% MoM, and services activity contracted to 55.8.
Hong Kong’s Hang Seng tumbled 1.57% as investors moved from financial and retail stocks to the technology and healthcare sector.
India’s Nifty 50 index is trading down 1.04% at the time of press, led by a fall in banks, metals, healthcare, and commodity shares. Forex reserves data is expected later today. KOSPI South Korea fell 0.64%.
Europe: Euro Stoxx 50 is trading lower 0.56% at press time as the European Central Bank keeps interest rates unchanged but warned that rising COVID-19 outbreaks pose a risk to economic recovery. January manufacturing activity contracted to 54.7, and services activity fell to 45, beating the consensus on both counts.
London’s FTSE 100 is trading lower 0.35% at the time of issue. UK retail sales in December rose 0.3% MoM and 2.9% YoY, losing consensus on both accounts. Public sector net borrowing rose to £ 33.38 billion.
Germany’s DAX is down 0.50% after its January manufacturing index contracted to 57, and the services index fell slightly to 46.8.
France’s CAC 40 is trading down 0.59% as January manufacturing and services activity slides.
IBEX 35 Spain is down 0.70% at the time of publication.
Forex Trading: The future of the US Dollar Index is down 0.02% to 90.105. The dollar has weakened 0.14% against the Euro but gained 0.36% against the Sterling Pound, 0.16% against the Japanese Yen, and 0.23% against the Chinese Yuan.
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