Dow Jones Industrial Average poised for a negative start as the futures market indicates. Dow Jones futures are 0.15% lower at 28,825. Investors focus is on phase one trade deal details. The US administration set to remove China’s status as a currency manipulator while China has agreed to purchase about $80 billion manufacturing goods and $50 billion more energy supplies from the USA over the next two-years.
The earnings season kick off today with the earnings releases from Citigroup Inc. (C), JPMorgan Chase & Co (JPM) and Wells Fargo (WFC). The profit reports will drive the markets in the upcoming weeks as the indices hovering close to all-time highs.
The S&P 500 futures are 0.10% lower at 3,287, while the Nasdaq futures are 0.18% lower at 9,071.
U.S. CPI on Focus
In our economic calendar today we have the US December CPI. Analysts expect CPI to increase by 0.3%, this figure will increase the yearly reading to 2.4% from 2.1%. In our central banks’ calendar Fed’s George and Wiliams will speak later today.
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European indices are slightly lower midday. The DAX Index is 0.01% lower at 13,450. FTSE 100 is 0.01% higher at 7,617 as the British pound is under pressure. The CAC 40 is 0.14% lower at 6,027 while the FTSE MIB is 0.08% lower at 23,877.
Asian indices finished mixed after stronger trade data out of China. Nikkei 225 finished 0.73% higher at 24,025. The Hang Seng ended 0.24% lower at 28,854, the Shanghai Composite finished 0.28% lower at 3,106. In Singapore the main benchmark ended 0.60% higher at 3,270. In Australia the ASX 200 finished 0.85% higher at 6,962 at fresh all-time highs.
The Rally in Cryptocurrencies Accelerates
Cryptocurrencies have a big day, the Bitcoin – BTCUSD price rallies 5% and breaks above 8,500. Ripple XRP USD is 1.55% at 0.2115. Ripple Price is about to break out of the symmetrical triangle. Ethereum ETHUSD is 6.08% higher at 152.66 and might extend gains above $150. Litecoin LTCUSD is 9.52% higher at 54.30.
In commodities markets, the crude oil price is 0.50% higher at 58.37 while the brent is 0.62% higher at 64.60. Gold price slides 0.30% at 1,542 on optimism over phase One Deal and positive Chinese trade balance.