Morning Briefing – US / Asia -2-

DJ MORNING BRIEFING – USA / Asia

The Morning Market Review, by Dow Jones Newswires:

Vacation notice

Friday: In China, Hong Kong, Singapore and South Korea, stock exchanges will remain closed due to New Year celebrations.

Monday: In China and Hong Kong, stock exchanges will be closed for New Year’s celebrations. In the United States, stock exchanges will remain closed on President Day.

today’s subject

Tajastima I

In the impeachment trial of former US President Donald Trump, prosecutors pressed for the former head of state to be convicted to supplement their evidence. Democratic lawmakers warned the Senate Thursday that if there is no indictment, there is a risk of new violence, as in the case of the storming of the Capitol on January 6. Trump should be condemned and excluded from future political office. The nine Democratic lawmakers representing the prosecution at the impeachment trial presented their evidence against the former president on Wednesday and Thursday. They showed some horrific videos of the violence on January 6th. Trump’s defense attorneys will have two days to present their case starting Friday.

The topic of the second day

The government of US President Joe Biden does not want to abandon punitive tariffs for some European imports in a customs dispute with the European Union over subsidies to airlines. “At this time, it is not necessary to review taxes,” she said in a statement issued by the US Trade Representative (USTR) that was due to be published on Friday. Biden’s predecessor, Donald Trump, made the decision on the latest punitive tariffs on January 12, a few days before Biden handled power. Biden had announced his desire to improve relations with US allies, who had been burdened with heavy burdens during Trump’s “America first” policy. So the European Union did not initially respond to the newly imposed US tariffs with countermeasures.

Economic outlook

- US 
  16:00 Index der Verbraucherstimmung der Universität Michigan 
        Februar (1. Umfrage) 
        PROGNOSE: 80,8 
        zuvor:    79,0 
 

Indicators Overview

INDEX                      Stand    +/- % 
S&P-500-Indikation      3.909,50   -0,03% 
Nasdaq-100-Indikation  13.718,00   +0,01% 
Nikkei-225             29.520,07   -0,15% 
Hang-Seng-Index        Feiertag 
Kospi                  Feiertag 
Shanghai-Composite     Feiertag 
S&P/ASX 200             6.806,70   -0,63% 
 

Financial markets

East Asia (course)

Easiest – Most stock exchanges in the region are closed due to public holidays. Company reports keep things running on the TSE. Nippon Paint slid 9.7 percent after the paint manufacturer forecast a drop in its pre-tax profit in 2021. Toyota advances 3.3 percent. The automaker plans to launch three electric vehicle models in the United States this year. Renesas gain 3.1 percent. The group expects sales to increase 10 to 15 percent in the first quarter. In Sydney, the stock exchange was saddled with a shutdown in Victoria for at least five days. As a result, stocks in the travel sector have come under pressure. Qantas Airways dropped 4.8 percent. Flight Center, Corporate Travel and Webjet each lost between 2.7 and 3.9 percent. Energy stocks have weighed on New Zealand. Meridian Energy lost 7.0% and Contact Energy fell 5.1%. It is heard in the market that ETFs have reduced their stakes in the two companies before rebalancing the global clean energy index. The other facilities surrendered, too. Auckland International Airport fell 2.7 percent. The airport operator is expected to report its first loss since 1998 when business figures are presented this month. In India, the International Trade Center fell 2.7 percent after the tobacco company announced that net income fell 11 percent in the third fiscal quarter.

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Next US stocks

Disney shares rose 1.6 percent. The media group took advantage of the Disney + live streaming service in its first fiscal quarter. The number of subscribers increased to 94.9 million. In areas such as theme parks, businesses have practically stopped due to lockdown measures. Cloudflake fell 7.7 percent, although fourth-quarter numbers and expectations beat expectations. The investors are likely to have reaped profits as the stock has rallied sharply recently. Expedia lost 1.5 percent. The online travel agency also felt the effects of the Corona pandemic in the fourth quarter. After making its stock market debut with 64 percent in the regular business, dating app provider Bumble’s share rose another 2.1 percent. Moderna advanced 1.3 percent after the US government purchased an additional 100 million doses of the Corona vaccine. SVMK collapsed 10.9 percent. Surveymonkey Polls’ parent company incurred a slightly lower loss in the fourth quarter than expected. The outlook for the first quarter was disappointing. Fintech lost 8.6 percent after fintech submitted its annual market outlook. Here, too, profit taking may have taken place. Chemours gained 3.3 percent. The chemical company recorded sales and profits above market expectations in the fourth quarter. Datadog lost 2.7 percent. The information technology company beat analysts’ expectations for the fourth quarter, but expectations were disappointing.

Wall Street

INDEX                 zuletzt      +/- %       absolut      +/- % YTD 
DJIA                31.430,70      -0,02         -7,10           2,69 
S&P-500              3.916,38       0,17          6,50           4,27 
Nasdaq-Comp.        14.025,77       0,38         53,24           8,83 
Nasdaq-100          13.734,35       0,58         79,08           6,56 
 
                               Vortag 
Umsatz NYSE (Aktien)  1,01 Mrd 0,972 Mrd 
Gewinner             1.477     1.635 
Verlierer            1.763     1.576 
Unverändert             76        96 
 

Hassan Saeed – Technology stocks slightly outperformed the broader market. The anticipated $ 1 trillion stimulus package from the new US administration continued to provide the generally optimistic mood. For many market participants, the extraordinary weekly labor market data underscored their necessity. The impetus for the singles came again mainly from reporting season. Daniel Morris of BNP Paribas Asset Management said this had been “exceptional” so far. The beverage maker PepsiCo (-2.0%) exceeded market expectations in the fourth quarter of 2020 and announced an increase in dividends. Tyson Foods (-5.7%) beat earnings expectations, but sales of chicken meat product were disappointing. Kraft Heinz gained 4.9 percent. The backwind for the food giant’s share came on the one hand from exceeding expectations, and on the other hand from the farmer’s business selling its hazelnuts for $ 3.35 billion to rival Hormel Foods (-3.3%). Kellogg shares fell 1.9 percent after disappointing business numbers. The transportation service provider Uber (-3.9%) recorded a sharp drop in sales, losing nearly one billion dollars due to the Corona crisis. In contrast, game provider Zynga (+ 7.3%) is one of the beneficiaries of the epidemic. In the fourth quarter, Zynga set records in revenue and bookings.

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US bonds

Laufzeit              Rendite   Bp zu VT    Rendite VT      +/-Bp YTD 
2 Jahre                  0,11        0,0          0,11           -1,2 
5 Jahre                  0,46        0,6          0,45            9,5 
7 Jahre                  0,80        1,0          0,79           15,2 
10 Jahre                 1,16        2,9          1,13           24,0 
30 Jahre                 1,95        3,9          1,91           30,0 
 

The bonds were unwelcome, as the 10-year yield increased by 3 basis points.

Currency

zuletzt  +/- %      00:00  Do, 8:25 Uhr   % YTD 
EUR/USD     1,2127  -0,0%     1,2132        1,2129   -0,7% 
EUR/JPY     127,15  +0,0%     127,10        126,85   +0,8% 
EUR/GBP     0,8789  +0,1%     0,8780        0,8758   -1,6% 
GBP/USD     1,3798  -0,1%     1,3818        1,3848   +0,9% 
USD/JPY     104,85  +0,1%     104,75        104,58   +1,6% 
USD/KRW    1103,19  -0,0%    1103,21       1104,18   +1,6% 
USD/CNY     6,4582     0%     6,4582        6,4582   -1,1% 
USD/CNH     6,4301  +0,1%     6,4220        6,4213   -1,1% 
USD/HKD     7,7531  +0,0%     7,7527        7,7529   +0,0% 
AUD/USD     0,7746  -0,1%     0,7754        0,7751   +0,6% 
NZD/USD     0,7218  -0,2%     0,7229        0,7232   +0,5% 
Bitcoin 
BTC/USD  47.363,75  -0,8%  47.727,50     45.088,50  +63,0% 
 

The increasing acceptance of Bitcoin – recently by New York Mellon and MasterCard – has pushed its path to new records. A payment of $ 48,700 in the cryptocurrency was due during the day, a good 7 percent increase over the previous day. At the turn of the year, the price was still at $ 30K, which was the $ 20K it broke in mid-December. After weaker previous days, the dollar had hardly moved after US Federal Reserve Chairman Powell indicated again on Wednesday that monetary policy would be loose for a longer period of time.

++++ Raw materials +++++

(More to follow) Dow Jones News

February 12, 2021 01:39 ET (06:39 GMT)

DJ MORNING BRIEFING – USA / Asia -2-

oil

zuletzt  VT-Settl.  +/- %  +/- USD   % YTD 
WTI/Nymex    57,78      58,24  -0,8%    -0,46  +18,8% 
Brent/ICE    60,69      61,14  -0,7%    -0,45  +17,3% 
 

Oil prices fell by a good 1 percent after the eight-day one-way street movement.

Minerals

zuletzt    Vortag  +/- %  +/- USD   % YTD 
Gold (Spot)    1.822,58  1.826,50  -0,2%    -3,93   -4,0% 
Silber (Spot)     27,10     27,03  +0,3%    +0,08   +2,7% 
Platin (Spot)  1.227,80  1.239,18  -0,9%   -11,38  +14,7% 
Kupfer-Future      3,78      3,77  +0,1%    +0,00   +7,3% 
 

Gold fell $ 17 to 1,826 an ounce. Rising yields in the bond market may also have contributed to this, because interest-free gold is becoming less attractive as an investment.

Messages since Thursday 8 pm

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Corona Virus

– The US government has ordered an additional 200 million doses of the Corona vaccine, according to President Joe Biden. Contracts were signed Thursday to purchase 100 million additional doses of vaccine for Moderna and Biontech / Pfizer. The United States is now well on its way to vaccinating 300 million Americans by the end of July.

A large program of vaccinations against Corona has started in pharmacies in the United States of America. Vaccination doses were initially sent to 6,500 pharmacies across the country on Thursday. Some pharmacy chains and large drug stores announced that they would start vaccination on Friday. In the medium term, vaccinations against Corona will be provided in 40,000 pharmacies. This aims to accelerate the vaccination campaign.

China

The BBC’s international service, BBC World News, has been banned in China for “illegal content”. Among other things, the principle that “news should be truthful and fair” – and that it should not harm China’s “national interests” has been violated.

Group of Seven billion in aid to poor countries

According to French information, the G7 countries are considering mobilizing billions of dollars to help poor countries to confront the Corona crisis through the International Monetary Fund. It’s about $ 500 billion in subsidies, as was said by government departments in Paris.

Monetary Policy in Mexico

Mexico’s central bank cut the key interest rate by 25 basis points to 4.00 per cent, thus resuming the monetary easing cycle after two pending meetings. The bank halted a series of 11 successive rate cuts in November after inflation rose above its target range of 2-4 per cent, then stalled again in December.

United States of America

US President Joe Biden will participate in the electronic version of the Munich Security Conference next week via video link.

Myanmar

Myanmar’s junta released more than 23,000 prisoners just two weeks after coming to power on a public holiday. Since the coup, security forces have arrested several supporters of ousted de facto Prime Minister Aung San Suu Kyi.

Expedia

The online travel portal fell into the red in the last quarter due to weak demand. Sales collapsed by two thirds. In light of the coronavirus pandemic, consumers and businesses are currently not making travel plans.

Walt Disney

Disney + ‘growing streaming business brought the entertainment group a huge profit surprise. In doing so, the company took advantage of people’s search for entertainment in light of the pandemic, increasing its subscribers to 94.9 million. In other areas of Disney, such as its theme parks, businesses have stopped by default due to lockdown measures.

Contact the author: [email protected]

Djg / gos / err

(End) Dow Jones Newswires

February 12, 2021 01:39 ET (06:39 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

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