Market Insights: U.S. Stocks Surge, Forex Moves, and Bitcoin ETF Approvals - January 11, 2024

DAILY MARKET NEWSLETTER

January 11, 2024

MARKET WRAP

STOCKS, BONDS, COMMODITIES

On Wednesday, U.S. stocks closed higher, with the Dow Jones Industrial Average rising 170 points (+0.45%) to 37,695, the S&P 500 up 26 points (+0.57%) to 4,783, and the Nasdaq 100 up 114 points (+0.69%) to 16,793.

• Winning Sectors: Retailing (+1.59%), software & services (+1.56%), and media (+1.32%).

• Losing Sectors: Energy (-1.01%) and food, beverage & tobacco (-0.63%).

Notable stock movements:

• Winners: Nvidia (NVDA) +2.28%, Meta Platforms (META) +3.65%, Intuitive Surgical (ISRG) +10.25%.

• Other Gains: Microsoft (MSFT) +1.86%, Apple (AAPL) +0.57%.

• Corporate News: Hewlett Packard Enterprise (HPE) to acquire Juniper Networks (JNPR) for $14 billion. HPE +1.80%, JNPR +2.12%.

In Europe, both the DAX 40 and the CAC 40 were little changed, while the FTSE 100 declined 0.42%.

U.S. WTI crude oil futures dropped $0.95 (-1.32%) to $71.29 a barrel, and gold retreated $6 to $2,023 an ounce.

MARKET WRAP: FOREX

The U.S. dollar index eased to 102.38.

• EUR/USD: Rose 37 pips to 1.0968. France's industrial production grew 0.5% on month in November.

• USD/JPY: Climbed 131 pips (+0.91%) to 145.78.

• GBP/USD: Added 31 pips to 1.2736.

• AUD/USD: Rose 16 pips (+0.24%) to 0.6698. Australia's inflation rate slowed to 4.3% on year in November.

This morning, Australia's data showed that the trade surplus widened to A$11.44 billion in November, with exports growing 1.7% on month.

• USD/CHF: Dropped 15 pips to 0.8507.

• USD/CAD: Was down 13 pips to 1.3376.

As widely expected, the U.S. Securities and Exchange Commission (SEC) eventually announced approvals for spot Bitcoin exchange-traded funds (ETFs). 11 spot Bitcoin ETFs, including those of BlackRock, Fidelity, and Grayscale, will start trading on Thursday (January 11). Bitcoin climbed towards $47,000 after the SEC's announcement.                      

Did you know that with Taurex, you can trade over 100+ currency pairs？ Weve got all the combinations you may wish to trade. In our offer, you will find:

✔️ Majors: EUR/USD, USD/JPY, GBP/USD, USD/CHF

✔️ Minors: EUR/GBP, GBP/JPY, AUD/JPY

✔️ Exotic Pairs: USD/SGD, EUR/TRY , GBP/SEK

& many more!

🔗Open your account and start trading at tradetaurex.com

#Forex #Trader #Trading #Trades #Investor #FXTrader