Market Insights | January 15, 2024
Abstract：U.S. stocks closed mixed. Dow Jones Industrial Average fell 118 points (-0.31%) to 37,592, S&P 500 gained 3 points (+0.08%) to 4,783, and Nasdaq 100 edged up 12 points (+0.07%) to 16,832.
DAILY MARKET NEWSLETTER January 15, 2024
🌐 MARKET WRAP: STOCKS, BONDS, COMMODITIES
On Friday, U.S. stocks closed mixed. Dow Jones Industrial Average fell 118 points (-0.31%) to 37,592, S&P 500 gained 3 points (+0.08%) to 4,783, and Nasdaq 100 edged up 12 points (+0.07%) to 16,832.
U.S. data showed producer prices grew 1.0% on year in December (as expected). U.S. 10-year Treasury yield edged down to 3.941%.
Telecom services (+1.33%), energy (+1.26%), and software & services (+0.93%) sectors outperformed, while automobiles & components (-3.43%), banks (-1.26%), and health-care equipment & services (-1.19%) sectors closed with losses.
Microsoft (MSFT) advanced 1.00% to $388.47, reaching a record closing level, overtaking Apple (AAPL) as the most valuable public company.
Tesla (TSLA) slid 3.67% to $218.89, below its 200-day moving average. The electric-vehicle maker said it could suspend production at its Berlin factory due to Red Sea-related supply chain issues.
UnitedHealth (UNH), a private health insurance provider, fell 3.37%, and Wells Fargo (WFC), one of the big-five U.S. banks, dropped 3.34%.
Delta Air Lines (DAL) tumbled 8.97% after providing a disappointing 2024 earnings guidance.
Other airline stocks also lost ground, with United Airlines (UAL) sliding 10.63%, Jetblue Airways (JBLU) down 5.60%, and Southwest Airlines (LUV) down 4.26%.
U.S. markets will be closed Monday (January 15) for the Martin Luther King Jr. Day holiday.
European stocks closed higher, with the DAX 40 rising 0.95%, the CAC 40 up 1.05%, and the FTSE 100 up 0.64%.
U.S. WTI crude-oil futures gained $0.77 (+1.07%) to $72.79 a barrel, boosted by escalating tensions in the Middle East due to U.S. and U.K. airstrikes against targets in Yemen.
Gold price advanced $19 to $2,047 an ounce.
📉 MARKET WRAP: FOREX
🌐 FOREX MARKET REPORT
The U.S. dollar index remained stable at 102.43. 💹
EUR/USD fell 21 pips to 1.0949. 📉
USD/JPY dropped 42 pips to 144.86. 📉
GBP/USD declined 14 pips to 1.2746. U.K. data showed GDP grew 0.3% on month in November (vs +0.1% expected), and industrial production rose 0.3% (vs +0.2% expected). 📉📊
AUD/USD dipped 3 pips to 0.6684. 📉
USD/CHF added 6 pips to 0.8524, and USD/CAD climbed 12 pips to 1.3403. 📈
Bitcoin remained subdued in the second trading session of all-new spot Bitcoin ETFs, testing support at $42,000 over the weekend. 📉💰
📊 CURRENCY PAIRS
Pair | Intraday Trend | Pivot | Trading Strategy | Alternative Strategy |
AUD/USD | No Clear Trend | 0.6710 | Below 0.6710, bearish with targets at 0.6675, then 0.6660 | Above 0.6710, bullish with targets at 0.6725, then 0.6740 |
GBP/USD | Anticipating 1.2720 | 1.2765 | Below 1.2765, bearish with targets at 1.2720, then 1.2700 | Above 1.2765, bullish with targets at 1.2785, then 1.2800 |
USD/JPY | Rebound Expected | 144.65 | Above 144.65, bullish with targets at 145.30, then 145.55 | Below 144.65, bearish with targets at 144.35, then 144.10 |
EUR/USD | Short-Term Resistance | 1.0970 | Below 1.0970, bearish with targets at 1.0930, then 1.0915 | Above 1.0970, bullish with targets at 1.0985, then 1.1000 |
Please note that due to market volatility, some key levels may have already been reached and scenarios played out.
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