World Market News of the 16 January with FXOpen
World Market News of the 16 January with FXOpen
DOW JONES FUTURES FALL WITH APPLE IN FOCUS
Dow Jones futures fell modestly Monday night, along with S&P 500 futures and Nasdaq futures. Elon Musk and Tesla are in focus, along with Dow Jones giant Apple.
The stock market rally had a strong rebound last week after the major indexes and many leading stocks retreated to start 2024 but soon found support at key levels. A large number of stocks flashed buy signals, including a powerful breakout from Nvidia (NVDA), once again leading the overall market.
Source: Investor's Business Daily
EUROPEAN MARKETS DIP
European stocks started the week on softer footing as the World Economic Forum in Davos, Switzerland kicked off Monday. Investors also digested data which showed the region’s largest economy, Germany, shrinking 0.3% in 2023. U.S. markets were closed Monday for Martin Luther King Day.
Source: CNBC
POSSIBLE THERE WILL BE NO RATE CUTS THIS YEAR, ECB MEMBER SAYS
The European Central Bank may defy market expectations and hold off on starting interest rate cuts during the whole of 2024, the institution’s Governing Council member Robert Holzmann said Monday.
Asked about those who call for the first rate cut to take place as soon as April, Austria’s central bank governor said, “I’m afraid, leaving Davos, those people will be deeply disappointed.”
Speaking at the World Economic Forum in Davos, Switzerland, he added, “I cannot imagine that we’ll talk about cuts yet, because we should not talk about it. Everything we have seen in recent weeks points in the opposite direction, so I may even foresee no cut at all this year.”
Source: CNBC