US Markets, The Wednesday trading session on the US markets was heavy on stocks with sell-down pressure impacting a higher yield on oil and bond. The Dow Jones Industrial Average fell 542 points or 1.5%, before recovering from a 600+point deficit, while the S&P 500 and Nasdaq Composite slid 2.6% and 1.8%, respectively in a choppy session.
Treasury Bills, The 10-Year Treasury yield rose to 1.87%, adding pressure to equities.
| Ticker |
Security |
Last |
Change |
Change % |
| I:DJI |
DOW JONES AVERAGES |
35368.47 |
-543.34 |
-1.51% |
| SP500 |
S&P 500 |
4577.11 |
-85.74 |
-1.84% |
| I:COMP |
NASDAQ COMPOSITE INDEX |
14506.896644 |
-386.86 |
-2.60% |
Commodities, Oil closed above $85 per barrel, an 8-year-high following an attack on an oil facility in the capital of the United Arab Emirates that killed at least three people.
| Ticker |
Security |
Last |
Change |
Change % |
| USO |
UNITED STATES OIL FUND L.P. |
60.97 |
+1.00 |
+1.67% |
Tech deals, In deal news, Microsoft announced plans to buy Activision in a combo valued at $68.7 billion giving the software giant a leg-up in the gaming world with titles including ‘Call of Duty’ and ‘Candy Crush’, the companies announced Tuesday. The deal also made Activision CEO Bobby Kotick over $70 million intra-day as the company's largest single shareholders.
| Ticker |
Security |
Last |
Change |
Change % |
| MSFT |
MICROSOFT CORP. |
302.65 |
-7.55 |
-2.43% |
| ATVI |
ACTIVISION BLIZZARD INC. |
82.31 |
+16.92 |
+25.88% |
Corporate Earnings, Goldman Sachs shares fell after fourth-quarter profits fell to $10.81 per share, missing analyst estimates of $11.76 tracked by Refinitiv and below the same period a year ago on weaker results from its trading division. JPMorgan shares fell in sympathy.
| Ticker |
Security |
Last |
Change |
Change % |
| GS |
THE GOLDMAN SACHS GROUP INC. |
354.40 |
-26.54 |
-6.97% |
| JPM |
JPMORGAN CHASE & CO. |
151.27 |
-6.62 |
-4.19% |
| SCHW |
THE CHARLES SCHWAB CORP. |
92.16 |
-3.37 |
-3.53% |
| BAC |
BANK OF AMERICA CORP. |
46.26 |
-1.65 |
-3.44% |
Charles Schwab also reported results that fell below analysts' expectations with profits of $0.76 per share vs. $0.88 estimate, while revenue was $4.71 billion falling short of the $4.79 billion estimate. Bank of America will report results on Wednesday.
Telecom Stocks, the rollout of 5G is expected to have a significant impact on telecom shares, including Verizon and AT&T, with the rollout of 5G Wednesday.
| Ticker |
Security |
Last |
Change |
Change % |
| VZ |
VERIZON COMMUNICATIONS INC. |
53.43 |
+0.15 |
+0.28% |
| T |
AT&T INC. |
27.32 |
+0.13 |
+0.48% |
Asia, the Bank of Japan wrapped up a two-day policy meeting with no major changes. Its benchmark interest rate remains at a longstanding minus 0.1%.Japan’s benchmark Nikkei 225 fell 0.3% to 28,257.25. Australia’s S&P/ASX 200 lost 0.1% to 7,408.80. South Korea’s Kospi dropped 0.9% to 2,864.24. Hong Kong’s Hang Seng slipped 0.4% to 24,112.78, while the Shanghai Composite rose 0.8% to 3,569.91.
SPOT MARKET BY THE HOUR AS OF GMT 09:35 01-19-22
European Market, In Europe the market sustained its bearish trend and investors' reaction mixed. The UK Inflation report shows 30 years high figures which impacted the investors' sentiment on the FTSE.London's FTSE slipped 0.04% to 7,560.29, Germany's DAX was also down by 0.13% to 15,751.35 and France's CAC rebound to 0.34% to 7,158.27.
Asia Market, In Asia, the market currently is choppy with mixed investors' sentiments, Tokyo's Nikkei 225 index slid by 2.8% to 27,467.23, the Hang Seng in Hong Kong also climb by 0.06% to 24,127.85, while China's Shanghai declined by 0.33% to 3,558.18.
SOURCE: CNBC
IMAGE SOURCE: PIXABAY
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