Today Markets – Market Summary

• Stock exchanges in the USA are entering the holiday period with limited volatility and trading, yet still with a predominance of gains. On American indices, the growth leader is the S&P500, whose contracts are rising by approximately 0.4%. Similar results are achieved by Nasdaq100 and Dow, whose contracts are seeing increases of around 0.3%. Russell2000 is performing weaker, falling by about 0.4% in today’s session.
• The USA has published unexpectedly surprising GDP data, which in the third quarter was expected to grow by a staggering 4.3% compared to the anticipated 3.2%. The surprise is positive, but the quality of macroeconomic readings from the USA is starting to raise more doubts and questions.
• Industrial production data turned out to be slightly better than expected, with monthly industrial production rising by 0.2% compared to the expected 0.1%. The annual growth amounted to as much as 2.2%.
• The positive tone of the data on the American economy is not reflected in consumer sentiment, according to CB. The reading was at 89.1 compared to the expected 91.9. This is a decline compared to the previous month and one of the worst December readings of the last decade.
• In Europe, small index movements also prevail, but they are mainly increases. Most contracts are limited to increases at the level of 0.1-0.2%. The growth leaders are SUI20 and VSTOXX, which are rising by about 0.5%. Declines are visible on the French and Polish indices, FRA40 and W20, losing 0.2% and 0.7%, respectively.
• Novo Nordisk received FDA approval to market one of its GLP-1 group drugs in tablet form, after which it rose by about 0.8%.
• Nvidia is up more than 2% today. This is said to be the result of positive sentiment around H200 deliveries to China. However, controversial reports are coming from the Asian company “Megaspeed”, which may have engaged in illegal resale/smuggling of the company’s chips.
• Significant increases in the commodity market. In the energy segment, NATGAS is rising by about 7%. Industrial metals are also rising, with Nickel increasing by nearly 3%, Copper rising by 1.2%, reaching a new price record.
• Precious metals continue their upward trend. Platinum is up by as much as 6%, Silver is up by 4%, reaching another record of $71 per ounce.
• In the currency market, significant strengthening of the Yen and Franc, which are gaining against most currency pairs. The dollar is performing poorly.
• Sentiment in the cryptocurrency market is moderate, but pessimism prevails. Bitcoin is losing 0.8% and is around $87,700. Ethereum is performing worse, losing over 2% and falling below $2,950.

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