Daily Market Reports | Jan 13 2022
World Overnight | |||
SPI Overnight | 7352.00 | – 3.00 | – 0.04% |
S&P ASX 200 | 7438.90 | + 48.80 | 0.66% |
S&P500 | 4726.35 | + 13.28 | 0.28% |
Nasdaq Comp | 15188.39 | + 34.94 | 0.23% |
DJIA | 36290.32 | + 38.30 | 0.11% |
S&P500 VIX | 17.62 | – 0.79 | – 4.29% |
US 10-year yield | 1.73 | – 0.02 | – 1.20% |
USD Index | 94.99 | – 0.62 | – 0.65% |
FTSE100 | 7551.72 | + 60.35 | 0.81% |
DAX30 | 16010.32 | + 68.51 | 0.43% |
Greg Peel is scheduled to return post Australia Day.
Equity markets have calmed down, but retain a preference for cyclicals as commodities respond favourably to a weakening US dollar.
Bond markets are no longer moving rapidly in either direction, while economists are refreshing their timeline and forecasts for Fed rate hikes in 2022.
ANZ Bank economists are now projecting five Fed rate hikes this year, starting in March.
As US CPI surged to a 40-year high in December, the outlook for Fed rate hikes (and thus US bond yields) hinges on how long consumer price inflation will remain at such high a level.
Clearly, ANZ Bank is now convinced ongoing labour shortages and covid-related supply chain disruptions are likely to stay in place for much longer than previously anticipated.
Spot Metals,Minerals & Energy Futures | |||
Gold (oz) | 1825.20 | + 2.20 | 0.12% |
Silver (oz) | 23.13 | + 0.34 | 1.49% |
Copper (lb) | 4.52 | + 0.12 | 2.72% |
Aluminium (lb) | 1.34 | – 0.00 | – 0.30% |
Lead (lb) | 1.06 | + 0.01 | 0.50% |
Nickel (lb) | 10.05 | + 0.24 | 2.42% |
Zinc (lb) | 1.62 | + 0.01 | 0.53% |
West Texas Crude | 82.82 | + 1.41 | 1.73% |
Brent Crude | 84.77 | + 1.02 | 1.22% |
Iron Ore (t) | 131.60 | + 3.00 | 2.33% |
The Australian share market over the past thirty days…
BROKER RECOMMENDATION CHANGES PAST THREE TRADING DAYS | |||
ARB | ARB Corp | Downgrade to Underperform from Neutral | Credit Suisse |
ATL | Apollo Tourism & Leisure | Upgrade to Buy from Hold | Ord Minnett |
BGA | Bega Cheese | Downgrade to Hold from Accumulate | Ord Minnett |
FMG | Fortescue Metals | Downgrade to Sell from Neutral | Citi |
JHX | James Hardie Industries | Downgrade to Equal-weight from Overweight | Morgan Stanley |
LNK | Link Administration | Downgrade to Hold from Accumulate | Ord Minnett |
PME | Pro Medicus | Upgrade to Hold from Reduce | Morgans |
SHL | Sonic Healthcare | Downgrade to Neutral from Outperform | Credit Suisse |
TPG | TPG Telecom | Upgrade to Buy from Hold | Ord Minnett |
TRS | Reject Shop | Downgrade to Hold from Add | Morgans |
For more detail go to FNArena's Australian Broker Call Report, which is updated each morning, Mon-Fri.
All overnight and intraday prices, average prices, currency conversions and charts for stock indices, currencies, commodities, bonds, VIX and more available on the FNArena website. Click here. (Subscribers can access prices on the website.)
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