- Wall Street futures rose modestly after falls on Thursday.
- Oil advances almost 2%, while metals rebound modestly.
- Various data is coming from the US including inflation, income and spending data.
Equity markets in Europe and ahead of Wall Street are modestly higher, recouping some of Thursday’s heavy losses. Oil prices are rising almost 2%, while metals are also rebounding. The dollar falls due to the improvement in the mood of the markets.
2022 Ends: End of Last Full Week
Markets in Asia conformed to Wall Street’s decline on Thursday and ended in losses. The Nikkei 225 lost 1.02% and the Hang Seng 0.44%. In Europe there are mixed results, with the FTSE 100 rising 0.05%, the DAX climbing 0.28% and the CAC 40 falling 0.15%. The S&P 500 closed down 1.45% and in Friday preview, before US data, up 0.21%.
The volume of operations continues to decline and this trend will be accentuated in the coming days. Several European stock markets will close earlier on Friday and will not operate on Monday because it is a holiday there. Neither will Wall Street.
Tesla shares on Thursday fell to their lowest since September 2020. Elon Musk announced that for 18 to 24 months no more company shares will come. After losing 8.88% on Thursday, in the premarket they rise 1.%. ConocoPhillips climbs 0.74% after falling 2.90%. Companies due to report results on Friday include Nitori Holdings, Galileo Resources PLC, Viveon and Niitaka.
On Thursday the markets fell after the publication of positive data from the economy of USA, which means it increases the chances of a continuation of an aggressive Federal Reserve next year. The close was far from the lows and the rebound continues on Friday.
Core inflation in Japan it rose at the fastest pace in four decades in November, rising 3.7% from a year ago. The data may fuel speculation of a change in Bank of Japan policies next year.
In China The risk is growing that due to the increase in COVID infections, the authorities will go back with certain relaxation measures. This is a new risk factor for the markets. Bloomberg reported that Chinese health authorities estimate that nearly 37 million people may have been infected with COVID in a single day this week.
In the next hour will be released the important November personal income and spending report for the United States, which includes the key data of the underlying price index of personal consumption spending. The latter is an inflation indicator closely followed by the Federal Reserve and is expected to register an increase of 0.2% and 4.6% compared to a year ago. The durable goods orders report for November will also be released, with the expectation of a fall of 1.1%. Then the final reading of the University of Michigan Consumer Confidence Index will be released, which is estimated to remain at 59.1. New home sales data will also come out, which would show a drop to 600,000. In Canada, GDP growth figures for September will be published.
The dollar is trading modestly lower, with the DXY shedding 0.20% and approaching the lows for the month. EUR/USD remains in the recent range near 1.0600, while USD/JPY is around 132.50. Both AUD/USD and NZD/USD rallied after Thursday’s misstep.
The prices of Petroleum they resume the rise and approached the weekly maximums, with the WTIL barrel above $79.00. Russia reported that it could cut production by up to 7% early next year.
The cryptocurrencies They recover after the fall on Thursday. Bitcoin It came close to $16,500 and is back over $16,800. ethereum rises 0.70% and trades at $1,225. The metals also rebound after the setback of the previous day. Gold is trying to recover $1,800 and silver is trading at $23.70.
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.
