Morning Brew January 10 2024
Senior Relationship Manager
Yesterday was a fairly dull day until the SEC`s X account was hacked and a false Bitcoin ETF approval was posted. This caused a 10% swing in the crypto Currency to end up pretty much where we were trading before, as of now we are at 46060. Welcome to the year of misinformation.
Equities traded calmly with major Indexed moving less than 0.5%, energy strong as a technical rebound supported by lower inventories
This Morning TSMC reported flat but better than expected revenue, earnings will be released next week.
Peter commented on the Nvidia move on Monday, the earings for Q4 are expected only Feb 21: Nvidia's share price surged 6.5% to a new record high driven by the announcement of new AI chips for personal computers. The move highlights the growing investment opportunities in AI and the potential for the technology to expand into consumer markets. Meanwhile, the four major US banks will report Q4 earnings on Friday, with analysts expecting revenue growth to normalize and credit provisions to rise.
Yields remained little changed and the USD Index gained to 102.60 with EURUSD 1.0926, GBPUSD 1.2690 and USDJPY 145.
Gold Silver and Copper were under pressure to currently trade 2026, 22.85 and 378.70.
Today the agenda is very thin besides the possible real approval of the Bitcoin ETF, tomorrow we are expecting the US CPI as key event of the week and the Bank earnings on Friday could be important if there are any surprises.
It should be a good day to consider ones portfolio against expectations for the year and check for risks and opportunities that could and should be addressed.
- Data Australia CPI,
- Data US CPI, Initial Jobless Claims,
- Data China CPI, PPI, UK GDP,
Earnings: Citi, Bank of America, Blackrock, BNY Mellon, JPMorgan Chase, Delta, Wells Fargo,.