📆 Thursday, January 23
► European stocks are little changed but recovered from earlier losses with the Euro Stoxx 600 at +0.1%, hovering near record highs after Wednesday’s rally. Investors weighed China’s latest market-support measures and uncertainty over Trump’s trade policies. Tech stocks led declines (-1.0%), dragged by ASML (-3.6%), while bank stocks (+0.5%) and utilities gained. EU officials reaffirmed a defensive stance against US tariffs, with European Central Bank President Christine Lagarde emphasizing the need to monitor trade risks closely. Markets are also preparing for next week’s ECB policy decision, where rate cuts remain on the table. Germany’s 10-year yield remained steady at 2.47%, while UK’s 10-year yield held at 4.58%, as investors awaited key economic data releases.
► US stock futures are slightly down after yesterday's strong session, with S&P 500 futures (-0.15%), Nasdaq 100 futures (-0.45%) after the S&P 500 hit a fresh record high on Wednesday. The Dow Jones is currently trading higher (+0.15%). AI spending optimism continued to fuel markets, with SoftBank up 17% YTD following its role in Trump’s $500B AI joint venture with OpenAI and Oracle. Treasury yields are up (4 bps), with the US 10-year yield at 4.63%, as investors monitored Fed policy expectations. The USD consolidated within a tight range (+0.1%). Market’s await more earnings reports from company’s like GE Aerospace and Texas Instruments.
► Asian markets were mixed, with investors reacting to China’s latest market stabilization efforts and Trump’s evolving trade policies. China’s Shanghai Composite rallied (+0.51%), before trimming gains, as Beijing urged insurers and mutual funds to increase equity holdings. The offshore CNY held near 7.28/USD. Japan’s Nikkei 225 (+0.98%) posted their fourth straight session of gains, supported by strong export data. The JPY remained weak at 156.5/USD ahead of Friday’s BOJ policy decision. South Korea’s Kospi fell (-1.24%), as SK Hynix tumbled (-4.7%) despite posting record profits, while Hyundai missed earnings estimates.
Subscribe to see more
