- Futures in the red paring part of Monday’s rise.
- Day full of corporate results.
- Positive PMI data from the Eurozone, worrying in the United Kingdom.
In the previous one, the shares on Wall Street fell an average of 0.35%, after the rise on Monday. The European stock markets operate without significant changes. The dollar does not register large variations, metals are gaining momentum and oil remains in the maximum zone.
Cutting profits, with an eye on data and results
In Europe, the FTSE 100 is down 0.30%, the DAX is down 0.22% and the CAC 40 is up 0.03%. Nasdaq futures are down 0.47% after Monday’s jump of more than 2%. The S&P 500 rose 1.19% and in the previous one fell 0.27%.
In the pre-market, Tesla it falls 1.5% after rising more than 7% on Monday, with the repercussions of Elon Musk’s statements in the trial in which he is accused of generating millions in losses for a message he posted on Twitter in 2018.
Microsoft will announce corporate results on Tuesday, but in the preview the shares operate unchanged after the announcement that it will make a large investment in OpenAI, which media estimates at 10,000 million dollars. In addition, on Tuesday they will present results, among others, Capital One, 3M, Visa, Johnson & Johnson, Halliburton, GE, Verizon, and Lockheed Martin.
The economic calendar is ahead of the January S&P Global PMI report (preliminary), which is expected to show a retracement to 46 in the manufacturing index and a recovery in the services index to 45. Richmond. Inflation data for the fourth quarter will be released early Wednesday in New Zealand and Australia.
The dollar It operates mixed, staying in the area of ​​minimums in months, with a bearish tone, given the expectation that the Federal Reserve will smooth the pace of monetary tightening. For these days there will be no comments from Fed officials, due to the period of silence ahead of next week’s meeting. Treasury yields are slightly lower on Tuesday.
The UK PMI showed a decline in the services indicator to a two-year low from 49.9 to 48, the lowest level in two years. While the manufacturer improved from 45.3 to 46.7. The December debt data was higher than expected, with a record amount of 27.4 billion pounds, well above the 17.75 billion expected.
The pound It is among the worst-performing currencies on Tuesday, weighed down by the numbers and the worsening health of the economy. EUR/GBP is at a 1-day high above 0.8800, and GBP/USD is at a 6-day low, testing the 1.2400 area.
By contrast, Eurozone PMIs beat expectations, with the region’s services index rising from 49.8 to 50.7 and manufacturing from 47.8 to 48.8. The positive data, added to the string of comments from European Central Bank officials about the need to continue raising interest rates and warnings that inflation remains high, are giving strong support to the euro. EUR/USD is trading unchanged at the 1.0860/70 zone, after momentarily trading above 1.0900, the highest since April 2022.
The metals they are going up on Tuesday, after a strange day on Monday. The Prayed it recently hit new monthly highs at $1,942, after Monday’s low of $1,910. For her part, the silver on Monday it had an extreme day and lost almost 5%, falling to $22.73, before rebounding significantly. It is trading at daily highs at $23.74.
The cryptocurrencies they keep the good tone and Bitcoin In the last few hours, it returned to operate on $23,000, although it has not yet managed to establish itself above it. ethereum stands at $1,620. The prices of Petroleum They register a modest advance, with the barrel of WTI near the peak of Monday and the zone of $82.00.
technical levels
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
