MHMarkets:MHM Today’s News
MHMarkets - December 19, 2022-Fundamental Reminder
☆ 17:00 Germany publishes IFO Business Climate for December.
☆ 19:00 U.K. releases CBI Industrial Order Expectations for December.
☆ 23:00 U.S. releases NAHB Housing Market Index for December.
MHMarkets -Market Overview
Review of Global Market Trend
On Friday, December 16, the Federal Reserve officials issued a hawkish speech, the dollar index turned up during the day, the U.S. stock market closed the dollar index close to 104.84, closing up 0.22% during the day. U.S. bond yields rose and fell, 10-year U.S. bond yields rose above 3.55% before the U.S. stock market to refresh the daily high, up more than 10 basis points during the day, and then continued to fall, trading at 3.48% at the close; 2-year U.S. bond yields approached 4.30% before the U.S. stock market to refresh the daily high, up more than 6 basis points during the day, and then fell back to 4.18%.
Spot gold rebounded to approach the 1800 mark, closing up 0.92% at $1793.15 per ounce. Spot silver regained the $23 mark, closing up 0.62% at $23.23 per ounce.
Demand concerns continued to weigh on oil prices, which narrowed during the session after the U.S. Department of Energy confirmed it would begin replenishing the Strategic Petroleum Reserve, but have since expanded again, with WTI crude closing down 2.37% at $74.47 per barrel and Brent crude closing down 2.81% at $79.16 per barrel. European TTF benchmark Dutch natural gas futures closed down 14.33% at 115.451 euros per megawatt, a new low since Nov. 21, after a 17% drop last week. NYMEX January natural gas futures closed down 5.31% at $6.6000 per million British thermal units, after rising 5.68% last week.
U.S. stocks closed down collectively for the third consecutive day, with the Nasdaq closing down 0.97%, the S&P closing down 1.11% and the Dow closing down 0.85%. S&P 500 major sectors collectively closed lower, most of the leading technology stocks fell. Tesla led the decline, closing down more than 4.7%, continuing to hit a new low since November 2020.
European stocks collectively closed lower, Germany's DAX30 index closed down 0.69%, the FTSE 100 index closed down 1.22%, France's CAC40 index closed down 1.08%, the European Stoxx 50 index closed down 0.81%, Spain's IBEX35 index closed down 1.24%, Italy's FTSE MIB index closed down 0.19%.
Hot spots in the market
1. Argentina won the 2022 World Cup.
2. The global box office of Avatar 2 at the first weekend was 435 million US dollars, lower than the market expectation.
3. The Japanese government considers increasing flexibility for the inflation target of 2%.
4. The 55 participants, including China, the United States and the European Union, announced the completion of the domestic approval procedure of the Reference Document on Domestic Regulation of Trade in Services, and agreed to jointly launch the entry into force procedure of the negotiation results in the WTO on December 20.
5. The EU has reached an agreement to strengthen and expand the carbon market and support the core content of the "Green Agreement" strategy, which aims to achieve climate neutrality by the middle of this century.
Geopolitical Situation
1. Ukrainian officials: The Ukrainian army tried to attack the Chief of the General Staff of the Russian Armed Forces. If the Ukrainian army had mastered the specific location of Putin, it would also launch an attack.
2. The European Union will consider lowering the price ceiling of natural gas before the meeting on Monday to approve the price limit measures.
3. Moscow, the capital of Russia, suffered the strongest snowfall in more than 80 years, with a snow thickness of 38cm.
4. A fire broke out in an oil and gas field in Irkutsk state, Russia, which has injured one person.
5. The Donetsk side said that the Ukrainian army shelled Donetsk territory 28 times within 24 hours, firing 133 shells in total.
6. Donetsk said that the Ukrainian army has lost more than 15 people in the past day and night, as well as two tanks, 10 armored vehicles and cars.
7. Zerensky: Despite the Russian attack, the Ukrainian army still controls the city of Bakmut in Donetsk.
8. Zelensky: Since the Russian attack, the number of Ukrainians who have restored power supply has increased by 3 million, and 9 million people have restored power supply within two days.
9. Greece has provided Ukraine with a loan worth $48 million and ammunition.
10. Russian Ministry of Defense: Defense Minister Shoigu inspected the Russian army in the special operation area, focusing on the supply of troops.
11. Deputy Prime Minister of Moldova: Moldova has successfully got rid of its dependence on Russian gas.
Institutional Perspective
01
Goldman Sachs
Goldman Sachs (GS. N) plans to lay off up to 8% of its workforce in response to a tougher economic environment next year.
02
SOCIETE GENERALE
The Bank of England is expected to raise interest rates twice by 50 basis points
03
MUFG
The Federal Reserve alone cannot reverse the bearish trend of the dollar
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