Market Commentary-January 9

U.S. stock market ultimately produced an additional robust day's return; however, it was a bit of touch and go in the beginning. All of the primary indices gained 1% on Tuesday, overseeing to string the first 3-day gain collectively in more than thirty days. 

The sentiment has been aided by an early on a tweet from President Trump merely proclaiming that trade talks are proceeding well! This became sufficient enough for taking the prices to move higher with a sound cross-section of advancements. 

Well worth keeping an eye on U.S. Treasuries following yesterdays sell-off. The 3-year bond auction wasn't that well received along with $38 Billion a feeble bid to cover up ratio. 

Yesterday evening we had seen 30-year trading back having a 3% handle, this move is undoubtedly denting financials sector in addition to smacking market forward interest rate perception.

Since the marketplace waits for almost any headline news materializing from the U.S. - China trade talks, the majority of Asia-Pacific stock indices tread water. 

We have heard optimistic rhetoric coming from U.S. Commerce Secretary Wilbur Ross that the binding agreement could be reached soon, however in spite of encouraging market strength much more will be required. 

Technology, as well as utilities, have already been leading most of the advances, which aided the H.K. Hang Seng to close plus 0.15%. But, core Shanghai index didn't have a positive trade right through the day and closed minus 0.26%. 

The Japans Nikkei225 did experience a positive day and also found the strength to rally into the close of trading day with 0.82% gain.

Core Eurozone indices finished positive despite the German DAX30 dipping from its day's highs. A 1% return for the French CAC40 along with a plus 0.75% for the U.K. FTSE100, even though the DAX30 index lagged at plus 0.5% right after sluggish than estimated Industrial Output numbers. 

The point about this latest reversal has been credited it to technology leading the charge; however, they had been crushed very severely lately and thus looked that they are rebalancing.

Crude oil prices increased on Wednesday, stretching out gains from the earlier trading sessions on expectations that America and China might shortly resolve their trade disagreements which have cast a darkness over the worldwide economy.

WTI (West Texas Intermediate) crude oil closed at $49.68 per barrel and was up $1.045, from their last settlement on Tuesday. Today crude oil marked the very first time this year which West Texas Intermediate has topped over $50 a barrel.


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