article 3 months old

The Monday Report – 17 January 2022

Daily Market Reports | Jan 17 2022

World Overnight
SPI Overnight 7330.00 + 28.00 0.38%
S&P ASX 200 7393.90 – 80.50 – 1.08%
S&P500 4662.85 + 3.82 0.08%
Nasdaq Comp 14893.75 + 86.94 0.59%
DJIA 35911.81 – 201.81 – 0.56%
S&P500 VIX 19.19 – 1.12 – 5.51%
US 10-year yield 1.77 + 0.06 3.57%
USD Index 95.17 + 0.30 0.32%
FTSE100 7542.95 – 20.90 – 0.28%
DAX30 15883.24 – 148.35 – 0.93%

Greg Peel is scheduled to return after Australia Day.

Equities in the US managed to avoid further losses on Friday, with exception of the Dow Industrials, after a rather lacklustre session.

SPI futures on Saturday were indicating the local market stands ready to recover a little more of early 2022 losses with likely ongoing bias for bulks, metals and energy producers.

Friday in Australia delivered a good old let's-sell-before-the-weekend session, and it got pretty ugly towards the end.

Corporate results season is starting to open up in America, but this week starts on Tuesday in the US as the third week in January is reserved to celebrate Martin Luther King Jr whose birthday is on January 15th.

Hence global equities will have to seek direction today without any real-time guidance from US stocks and/or treasuries.

With the world's number one male tennis champion now out of the country, maybe investors can start concentrating on the ASX again, stomach churning experiences not excluded as money continues to abandon previously high-flying new economy stocks.

Ups and downs, it's what maketh the market, during good times, and the less-than-great times. Cool heads will prevail. Patience is a virtue.

For a more detailed look into this week's calendar:

Spot Metals,Minerals & Energy Futures
Gold (oz) 1818.10 – 4.20 – 0.23%
Silver (oz) 22.96 – 0.10 – 0.43%
Copper (lb) 4.43 – 0.07 – 1.48%
Aluminium (lb) 1.35 + 0.03 2.54%
Lead (lb) 1.08 + 0.01 1.09%
Nickel (lb) 10.20 + 0.18 1.78%
Zinc (lb) 1.62 + 0.01 0.35%
West Texas Crude 83.82 + 2.28 2.80%
Brent Crude 86.06 + 2.16 2.57%
Iron Ore (t) 126.75 – 1.20 – 0.94%

The Australian share market over the past thirty days…

AGL AGL Energy Upgrade to Outperform from Neutral Credit Suisse
CVN Carnarvon Energy Downgrade to Accumulate from Buy Ord Minnett
FMG Fortescue Metals Downgrade to Sell from Neutral Citi
QBE QBE Insurance Upgrade to Outperform from Neutral Macquarie
SHL Sonic Healthcare Downgrade to Neutral from Outperform Credit Suisse
TPG TPG Telecom Upgrade to Buy from Hold Ord Minnett

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.)

(Readers should note that all commentary, observations, names and calculations are provided for informative and educational purposes only. Investors should always consult with their licensed investment advisor first, before making any decisions. All views expressed are the author's and not by association FNArena's – see disclaimer on the website)

All paying members at FNArena are being reminded they can set an email alert specifically for The Overnight Report. Go to Portfolio and Alerts on the website and tick the box in front of The Overnight Report. You will receive an email alert every time a new Overnight Report has been published on the website.

Find out why FNArena subscribers like the service so much: "Your Feedback (Thank You)" – Warning this story contains unashamedly positive feedback on the service provided.

FNArena is proud about its track record and past achievements: Ten Years On

Share on FacebookTweet about this on TwitterShare on LinkedIn

Click to view our Glossary of Financial Terms