Beat the street: Global shares steady; US retail sales; Chinese Q4 growth; Chips; Goldman Sachs
Investors pause for breath ahead of the latest US retail sales, Chinese Q4 growth, and UK inflation print. Big bank earnings continue to dominate with Goldman Sachs and Morgan Stanley on deck later in the week.
Plus, China's military and government acquire Nvidia chips despite a US ban, showed a Reuters review of tender documents.
(AI Video Summary)
Significant updates despite today's pause on trading
In today's edition of "Beat the street," our host Angeline Ong talks about all the latest news and information that traders need to know before the market opens. However, because it's Martin Luther King Day, there won't be any trading happening on Wall Street or in Treasury. But don't worry, global stocks are holding steady as investors wait for some important data. We're talking about things like US retail sales, Chinese Q4 growth numbers, and UK inflation statistics. Plus, this week we've got big bank earnings from Goldman Sachs and Morgan Stanley to look forward to.
Stable market overview
Ong gives us a brief overview of what's happening in the market right now. She tells us that things are pretty stable with volatility at around 14.5. Basically, that means things aren't too crazy right now. Global markets are just taking a breather before all this important economic data comes out. She also talks about how some people think the US might cut interest rates and how that's been affecting the markets.
Important economic data incoming
But let's get into the juicy stuff. Ong starts by talking about all the economic data that investors are keeping an eye on. We've got retail sales, industrial production, and housing data coming up. All this information will give us clues about when and how much the US might cut interest rates. She also mentions the upcoming US presidential election and how that could impact the markets.
Mixed big banks earnings
Now, onto the banking world. Ong tells us that some of the big banks like JPMorgan, Citigroup, Wells Fargo, and Bank of America had mixed results. Two of them even announced job cuts. And speaking of big companies, she talks about Alcoa and Schlumberger and how their recent stock performance has been.
Other news updates
The video also touches on other interesting tidbits like the surge in US electricity demand, the ongoing tensions between China and Taiwan, and the recent quality checks on Boeing planes. Plus, did you know that Microsoft is now the world's most valuable company? They've surpassed Apple in market value. Ong looks into their stock performance too.
This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
Act on share opportunities today
Go long or short on thousands of international stocks with spread bets and CFDs.
- Get full exposure for a comparatively small deposit
- Trade on spreads from just 0.1%
- Get greater order book visibility with direct market access
See opportunity on a stock?
Try a risk-free trade in your demo account, and see whether you’re on to something.
- Log in to your demo
- Take your position
- See whether your hunch pays off
See opportunity on a stock?
Don’t miss your chance – upgrade to a live account to take advantage.
- Trade a huge range of popular stocks
- Analyse and deal seamlessly on fast, intuitive charts
- See and react to breaking news in-platform
See opportunity on a stock?
Don’t miss your chance. Log in to take advantage while conditions prevail.
Live prices on most popular markets
- Equities
- Indices
- Forex
- Commodities
Prices above are subject to our website terms and agreements. Prices are indicative only. All share prices are delayed by at least 15 minutes.
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
