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Wall Street ended the Friday session in mixed sentiments, with Nasdaq falling 0.37% and flat closed in S&P 500. The “Magnificent Seven” underperformed S&P 500, with Nvidia Corp valuation hovering around $2 trillion

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Monday News
  • Wall Street ended the Friday session in mixed sentiments, with Nasdaq falling 0.37% and flat closed in S&P 500. The “Magnificent Seven” underperformed S&P 500, with Nvidia Corp valuation hovering around $2 trillion
  • Chinese index declined during today’s Asian session, with Hang Seng falling 0.5%. Also, South-Korean KOSPI lost more than 0.5%. Japanese benchmarks Nikkei and manufacturing-weighted TOPIX gained slightly 0.2 and 0.5% respectively
  • Moody’s Investors Service removed credit ratings on 11 Chinese companies on Friday, which highlighted the repercussions from record default rates. Investors want to see additional stimulus after Xi Jinping urged for a boost in consumer product sales; cars and home appliances.
  • Fed Waller commented for Axios that his ‘view of the economy hasn’t changed after January data, things are moving in the right direction’. According to Fed official, rate cuts are possible in the second half of the year, with expected slowing in consumer spending
  • US Deputy Treasury Secretary, Adeyemo told, that he is not concerned about headwinds for the US economy from China’s economic challenges.
  • NATGAS gains more than 4.4%, Brent and WTI oil futures are flat
  • Silver loses more than 0.6% and gold is 0.2% lower at the beginning of the new week
  • EURUSD still hovers near 1.0825 and futures contracts on US dollar index are traded flat
  • Futures on European indices signalling weaker investors sentiments after opening the new week
  • Berkshire Hathaway earnings exceeded investors expectations, with Q4 2023 operating earnings jumping 28%, on YoY basis. As for all 2023 year, operating earnings were 17% higher YoY, fueled by strong US economy and consumers. Holding has now a record $167.7 billion cash levels. Warren Buffett see no chance for future “eye-popping performance”. Berkshire sold 10 million of Apple (AAPL.US) shares in Q4 2023
  • Cryptocurrency market open a new week in good sentiments, Bitcoin still costs $51,600 USD, but Ethereum hovers nearly $3,100. Altcoins gain because of the falling Bitcoin market dominance. Gala surges more than 10%, Vechain and Decentraland gains 6% and 5% respectively
  • Russia and China held talks in late 2023 on Moscow’s taking loan in Chinese yuan, but so far there is no decision according to RIA, citing Russian finance minister

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