Dow Futures contract was down 150 points, U.S. market news JAN 02

Dow Futures

Dow Futures contract was down 150 points, or 0.4%, the S&P 500 Futures contract was down 25 points, or 0.5%, and the Nasdaq 100 Futures contract was down 150 points, or 0.9%.

1. Futures are down after a strong 2023, but Bitcoin is up to $45K – what’s driving markets?
2. Dow futures are falling, wiping off some of the year’s gains.
3. Tesla’s dominance in Norway grows as EVs capture a historic 82% market share.
4. Voyager shares have risen following a $1.2 billion licensing agreement with Novartis for Huntington’s candidate.
5. Bitfarms gets 446 bitcoins in December and 4,928 bitcoins in 2023.
6. Vertex Energy raises the term loan cap by $50 million.
7. The dollar rises ahead of major economic statistics, particularly payrolls.
8. ASML stock declines as a result of canceled China chip supplies.
9. According to Wedbush, the Nasdaq might reach 20,000 in 2024.
10. Earnings from Constellation Brands might give a boost.
11. MannKind and Sagard Healthcare agree to a $200 million royalty purchase agreement.
12. Wedbush expects Apple, Microsoft, and others to propel the Nasdaq to 20,000 by 2024.
13. Bernstein forecasts that Bitcoin will conclude 2024 at $80k before soaring to $150k in 2025.
14. Mega-cap firms witnessed significant increases in 2023 as a result of tech excitement.
15. The dollar begins 2024 with gains against the yen and euro, as bitcoin exceeds $45,000.
16. A US judge has granted the FTC permission to temporarily halt IQVIA’s acquisition of DeepIntent.
17. DoorDash plans to expand beyond its main restaurant sector in the United States – FT
18. More EVs, including Tesla, Nissan, and GM cars, are losing US tax benefits.
19. Apple stock is poised to open lower in 2024 as Barclays cuts to sell due to ‘lackluster’ iPhone sales.
20. Bitcoin surpasses $45,000 as a critical deadline for ETF approval approaches.
21. According to a broker, property reinsurance premiums in the United States would climb by up to 50% on January 1.
22. Tesla new car registrations in Sweden increased by 9% in December.
23. McDonald’s Malaysia has filed a $1 million lawsuit against the Israel boycott campaign.

GLOBAL NEWS 

1. Australia’s equities are up at the conclusion of trade, with the S&P/ASX 200 up 0.49%.
2. The Nikkei 225 closed 0.23% down in Japan.
3. The Nifty 50 is down 0.35% after the closing of trade in India.
4. European stocks begin the New Year at a 23-month high due to oil and bank gains.
5. The chances for UK industry comeback suffered a blow in December, according to the PMI.
6. On the first trading day of 2024, global market indexes were mixed.
7. UK retail price inflation remains at its lowest level since June 2022, according to the BRC.
8. BNP resolves Swiss franc loan dispute for up to 600 million euros – Le Parisien
9. China Evergrande’s EV share selling agreement has expired.
10. Asia’s stocks begin 2024 on a positive note, but bitcoin rises.
11. Asia FX falls on dismal China PMIs; dollar holds steady ahead of additional clues’
12. Gold prices surge in a solid start to 2024, with early rate cuts in the spotlight.
13. The death toll from Japan’s earthquake has risen to 30 as rescuers struggle to find survivors.
14. Danone will sell organic dairy businesses in the United States to private equity company Platinum Equity.
15. China’s yuan falls on the first trading day of 2024, with policy easing on the horizon.
16. Philippines hopes to be removed from the worldwide ‘grey list’ of money laundering.
17. China’s manufacturing activity growth increases in December, according to the Caixin PMI.
18. HSBC has completed the sale of its retail banking operations in France.
19. BYD, the Chinese EV behemoth, reports a 62% increase in car sales in 2023.
20. In December, sales of Indian SUVs increased while sales of smaller automobiles decreased.
21. Geely, a Chinese carmaker, has raised its 2024 sales target to 1.9 million units.
22. In December, the UK Manufacturing PMI fell to 46.2.
23. In December, the Eurozone Manufacturing PMI increased to 44.4.
24. In December, Germany’s manufacturing PMI rose to 43.30 points.
25. In December, France’s Manufacturing PMI fell to 42.1.
26. Due to poor demand, Australia’s manufacturing PMI was revised down.

Economic Data

Global news Updates

China December Manufacturing PMI below expected; 49 vs 49.6 consensus; China December Services PMI slightly below expected; 50.4 vs 50.5 consensus; China Caixin Manufacturing PMI above expectations; 50.8 vs. 50.3 consensus.

China’s new home prices in December rose 0.1% after rising 0.05% in November making it the fourth straight monthly rise. The value of new home sales among the 100 biggest real estate companies fell 34.6% from a year earlier to 451.3 billion yuan ($64 billion), compared with a 29.6% decline in November.

Iran sent a warship to the Red Sea after the US Navy destroyed three Houthi boats during an attack on a Danish-owned container ship, a move which could increase tensions – Bloomberg.

The yen weakens against most of its major peers after a powerful 7.6-magnitude earthquake struck an area along the west coast of Japan.

Economic Calendar

7:45 ICSC Weekly Retail Sales
9:45 S&P Global Manufacturing PMI, Dec Final
10:00 Construction Spending M/M for November

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