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Global shares were mixed as the U.S. stock market observed a National Day of Mourning for former President Jimmy Carter. European stocks saw modest gains, while Asian markets mostly declined amid concerns over trade friction and rising interest rates in Japan. The U.S. Labor Department's upcoming jobs report is anticipated to influence market sentiment.
World shares experienced a mixed day as U.S. economic data eased concerns on Wall Street, with markets closed for a National Day of Mourning for former President Jimmy Carter. European indices showed varied results, while Asian markets mostly declined amid trade friction fears linked to President-elect Donald Trump.In Japan, strong wage growth prompted a drop in the Nikkei 225 index, while China's consumer price index indicated weak demand. U.S. bond yields fluctuated, with expectations for future interest rate cuts amid a solid job market, as investors remain cautious about potential tariffs and their economic impact.
Asian stocks mostly declined as concerns over potential trade friction under President-elect Donald Trump resurfaced. The Nikkei 225 fell 0.9% following strong wage growth data, while other indices in Hong Kong, Shanghai, and India also reported losses. Meanwhile, U.S. markets remained steady amid mixed economic reports, with oil prices slightly rising.
Major US exchanges, including the NYSE and Nasdaq, will close on January 9 in observance of a National Day of Mourning for former President Jimmy Carter, as declared by President Joe Biden. The bond market will close early at 2:00 PM ET, while US index futures and the Volatility Index will also have modified trading hours. Despite these closures, forex trading and certain commodity markets will remain open, allowing traders to explore opportunities during this period.
Asian shares mostly rose, buoyed by a Wall Street rally led by Nvidia, with Japan's Nikkei 225 up 2.4%. U.S. Steel surged 8.1% after filing a lawsuit against President Biden's merger block, while investors await potential policy shifts under President Trump. The S&P 500 gained 0.6%, and the Federal Reserve's upcoming minutes and jobs report are anticipated to impact markets.
U.S. equity futures showed little movement as investors awaited key jobs data in a shortened trading week, with the Dow unchanged, S&P 500 up 0.08%, and Nasdaq 100 rising 0.09%. Major indexes closed higher on Friday, but all posted losses for the week amid concerns over the Federal Reserve's interest rate plans. The December jobs report, along with other employment data, is anticipated to provide insights into the economy's strength before the Fed's upcoming meeting.
Asian shares mostly declined as Tokyo remained closed for New Year’s holidays, with investors cautious amid political uncertainties in South Korea and potential policy changes under President Trump. Australia’s S&P/ASX 200 rose 0.4%, while South Korea’s Kospi fell nearly 0.1%, and Hong Kong’s Hang Seng dropped 1.3%. U.S. markets closed lower on the last trading day of the year, with the S&P 500 down 0.4%, despite a strong overall performance in 2024 driven by Big Tech and a growing economy.
UBS CEO Sergio Ermotti emphasizes that competition among banks in Switzerland will persist despite the Credit Suisse takeover, dismissing concerns about UBS monopolizing the market. He advocates for targeted banking regulations, warning against adopting overly strict rules that could undermine the financial sector's competitiveness. Integration of Credit Suisse clients into UBS is progressing, though IT migration poses challenges.
Investors looking for patterns in the S&P 500's performance post-presidential elections will find mixed results. Following Joe Biden's 2020 victory, the index rose over 42%, while it fell around 6% after Jimmy Carter's win. Experts suggest that election years do not significantly differ from typical market behavior, advising investors to adhere to their plans amid uncertainty.
US corporations are significantly investing in solar and energy storage, with Meta leading in solar capacity and Google in energy storage. The Solar Energy Industries Association reports nearly 40 GW of solar capacity and over 1.8 GWh of storage installed by companies like Amazon, Target, and General Motors, driven by incentives from the Inflation Reduction Act.
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